Hut, Hut, No Hike

For the first time since March 2022, the Federal Reserve decided to pause interest rate hikes. The Fed – which has raised interest rates ten times in the past fifteen months – said it wants to take some time to evaluate how the economy is reacting to previous rate increases. On Wednesday, a grand jury indicted Daniel Penny in connection to the death of Jordan Neely. Penny – a former marine – was charged with second degree manslaughter last month after he fatally choked Neely – an unhoused Black man – on a New York subway train May 1st. And in headlines: a federal judge has allowed writer E. Jean Carroll to revise her defamation lawsuit against former President Donald Trump, UPS drivers reached a tentative agreement with the delivery company to finally install air conditioning units in their trucks, and Instant Pot has filed for bankruptcy.