Fed Well Positioned to Wait for Clarity on Outlook, Minutes Say
By
Updated on
Save
Federal Reserve officials broadly agreed heightened economic uncertainty justified their patient approach to interest-rate adjustments, minutes from their latest policy meeting showed Wednesday.
Policymakers judged the risks of both higher unemployment and inflation had risen since their previous meeting in March, primarily due to the potential impact of tariffs. Such a scenario could pit the Fed's goals of stable prices and maximum employment against one another.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBS News
5 minutes ago
- CBS News
San Jose leaders approve mayor's "Responsibility to Shelter" ordinance for unhoused
The San Jose City Council approved a controversial ordinance on homelessness at its regular meeting on Tuesday. It's called the "Responsibility to Shelter". Critics say it criminalizes homelessness, while supporters say it finally gives the city the tools it needs to meaningfully address the crisis. The approval of the ordinance signifies a major shift in policy. "Over here in Columbus Park, yeah, I'm the longest tenured resident," says Eugene Blackwell. He's been at the city's largest encampment for the past five years and says he's gone to temporary shelters in the past. Blackwell was back on the streets after he was unable to get permanent housing. "You know it's a hard transition because you get used to being indoors and you get used to being in a hotel room, then all at once you have to come back to the streets," he told CBS News Bay Area. Residents living in RVs on the streets of San Jose as of June 2025. CBS His home is a box truck. Blackwell said if he were to go into a temporary shelter again, he's worried the city might tow it. "You know you already gave up everything, and lost everything out here, so when you come back out here, there's pretty much nothing to come back to," he says. The "Responsibility to Shelter" ordinance requires unhoused residents to accept the offer of shelter if the city provides it. For the first two refusals, the unhoused person could be cited - and if they refuse three times in 18 months, they could be arrested. "Our expectation is that there will be intervention, including law enforcement intervention, if you repeatedly refuse an appropriate shelter placement," San Jose Mayor Matt Mahan said Tuesday. Mahan said outreach workers would have discretion over whether to refer cases to police. The mayor said the idea isn't to criminalize homelessness, but instead use the tools at the city's disposal to get people the help they need. The ordinance has been endorsed by both the San Jose Police and Firefighters Unions as well as the Japantown Business Association. "The city is out of tools. We're asking our community to spend hundreds of millions of dollars building interim housing, converting motels, modular units. At some point we have to acknowledge that a small subset of folks on our streets simply are unable or unwilling to accept and benefit from what the city can do," Mahan said. For those like Eugene, the answer isn't that simple. "You know we didn't get out here alone, and we're not going to make it out of here alone. The mayor can't fix this problem alone, and neither can the citizens. We all have to work together," he said. The newly approved ordinance goes into effect on July 1st, but city staff said it could take anywhere from 60 to 90 days ramp up before any enforcement actions begin.
CBS News
5 minutes ago
- CBS News
Rallyers in Denver demonstrating against ICE arrests march down the middle of Lincoln Street
A large gathering that started out at the Colorado State Capitol to rally against the growing numbers of deportations of people in Colorado and the country illegally became a march down a Denver street on Tuesday evening. Demonstrators march down the middle of Lincoln Street in Denver on Tuesday night. CBS Hundreds of protesters first gathered at the Colorado State Capitol at the start of the evening. By 6:15 p.m. they started a march down the middle of Lincoln Street. The march made it temporarily impossible for all lanes of traffic to get through. The White House has directed Immigrations and Customs Enforcement to step up daily arrests. CBS News reports the goal is to make 3,000 arrests a day nationwide. Protesters have also taken to the streets in other cities, including Dallas and San Francisco, and Los Angeles is in the midst of a fifth day of protests over federal immigration raids. On Monday evening in California, tensions boiled over following a day of peaceful demonstrations. President Trump has doubled the number of National Guard troops being sent to patrol the city to 4,000 -- a number that Los Angeles city officials say vastly outnumbers the protesters -- and has said they will remain there indefinitely. There were security concerns leading up to Tuesday's demonstration in Denver, but everything has been peaceful so far. Groups have been protesting ICE for months now, but their message is even louder given the recent events in L.A. In a protest in Aurora on Monday organizers said they want to show solidarity with what's happening in California. Organizers say they're demanding an end to what they call targeted raids in immigrant communities that are tearing families apart. Some people in Denver called for ICE to be abolished altogether, while others want state and local law enforcement to stop cooperating with federal immigration agents. Many in Colorado held signs and chanted against immigration enforcement. One protester said she knows the pain of deportation personally. "My dad was deported a couple years back and I know how it feels to have family separated and struggle with that. And I don't want anybody else to go through that. Because I know my mom suffered. I suffered, and it's really traumatic and I don't want anyone to feel that way," she said. Denver police, Colorado State Patrol, and other agencies say they're monitoring the protest and are ready to respond if necessary.
CBS News
7 minutes ago
- CBS News
Los Angeles mayor announces curfew as anti-ICE protests continue downtown
Mayor Karen Bass announced a curfew for downtown Los Angeles as anti-ICE protests continued on Tuesday. The curfew will begin at 8 p.m. tonight, last until Wednesday morning, and apply to one square mile of downtown L.A. For five consecutive days, protesters and law enforcement have lined the streets of downtown, resulting in nearly 200 arrests. Some of the encounters between demonstrators and police turned violent at times. The demonstrations started on Friday after several immigration raids in the Westlake District, downtown and South LA. Crowds quickly formed around federal agents during the operations. Some individuals attempted to prevent authorities from placing individuals into vans. The nearly week-long protest caught the attention of President Trump, who deployed thousands of troops from the California National Guard and 700 U.S. Marines to protect federal buildings, against the wishes of Gov. Gavin Newsom. "Donald Trump is putting fuel on this fire. Commandeering a state's National Guard without consulting the Governor of that state is illegal and immoral," Newsom wrote Sunday on X. "California will be taking him to court."
