>>Fed No Longer Forecasting Recession
(Washington, DC) -- The Federal Reserve is no longer forecasting a U.S. recession this year. That's what Fed Chairman Jerome Powell told reporters yesterday after the central bank raised interest rates by a quarter of a percentage point Wednesday. He said inflation has moderated but there's still a "long way to go" to get it down to the two-percent goal. Officials pushed rates to their highest level since 2001, while leaving the door open for future rate increases. It's the eleventh rate hike since March 2022 and it follows a pause in June.
>>Mastercard Bans Cannabis Purchases On DebitCards
(New York, NY) -- You can no longer use Mastercard to buy cannabis products. The payment-processing corporation is telling financial institutions it's no longer allowing marijuana purchases on its debit cards. A Mastercard spokesperson said Wednesday that "the federal government considers cannabis sales illegal, so these purchases are not allowed on our systems." Most U.S. banks do not service cannabis payments because marijuana is still illegal at the federal level.
>>SpaceX Falcon Heavy Launch Scrubbed, Rescheduled For Thursday Night
(Cape Canaveral, FL) -- A history-making launch of the SpaceX Falcon Heavy rocket has been scrubbed. The triple-core rocket was scheduled for liftoff Wednesday night from Kennedy Space Center, carrying the largest communications satellite ever built. The launch was called off, however, just over a minute before liftoff. SpaceX says the next launch window will be Thursday night. The rocket will be carrying a nine-ton satellite that will provide broadband internet to remote areas.
>>Boeing Reports Nearly $150M In Losses
(Everett, WA) -- Boeing is reporting a nearly 150-million dollar loss in the second quarter. Despite struggling with higher costs in both its airline and defense business, the aircraft manufacturer says its starting to increase production of its two most popular airline planes, the 737 Max and the two-aisle 787 Dreamliner. Boeing CEO David Calhoun says the company is making progress and improving stability in its factories and among suppliers.
