May 06, 2022

5/5: Markets surge as the Fed announces its largest interest rate hike in decades. Carnival Cruise ship passengers quarantined after a COVID outbreak.

16 minutes

The Federal Reserve has announced the biggest increase in its key short- term interest rate -- in more than 20 years. Higher interest rates could also mean higher mortgage payments for many homeowners. To the political fallout from the Supreme Court leak on Roe v. Wade, lawmakers on both sides of the aisle have some big decisions ahead, if the court overturns the landmark ruling. Ukraine’s military says Russian troops are now inside this steel factory in Mariupol, and "difficult and bloody battles" are going on for control of the last stronghold of the city's defenders. Later today, nearly 20 million people from Dallas to Nashville could be at risk from damaging winds and possible tornadoes. Passengers from a Carnival Cruise ship are in quarantine in Seattle, after a COVID outbreak. This happened just days after Carnival re-activated its entire fleet, which had shut down when the pandemic began. The man arrested for attacking comedian Dave Chappelle has been charged with felony assault with a deadly weapon.

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