Woonsocket City Council Regular Meeting - May 20 2024

 

This is an E-Update for the meeting: City Council Regular Meeting - May 20 2024
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City Council Regular Meeting - May 20 2024

 

 

The Republican-led House has voted to hold Attorney General Merrick in contempt of Congress. This comes after the Justice Department refused to turn over audio recordings of President Biden's interview with the special counsel investigating his handling of classified documents. Special counsel Robert Hur said he would not prosecute Biden because a jury might see him as a sympathetic, well-meaning, elderly man with a poor memory" -- a line that touched off a political firestorm.        Interest rates are staying the same and the Federal Reserve predicts it will decrease borrowing costs only once before the end of the year. Fed chairman Jerome Powell told reporters today inflation has eased substantially but is still too high. He said the central bank is committed to bringing inflation down to its two-percent goal. The benchmark rate is in a range of five-and-a-quarter to five-and-a-half-percent.       Donald Trump will meet with congressional Republicans tomorrow. The former President will meet with the House Republican Conference at the Capitol Hill Club, a Republican clubhouse a block from the Capitol building. He'll also meet with Senate Republicans at the National Republican Senatorial Committee headquarters. Both House Speaker Mike Johnson and Senate Minority Leader Mitch McConnell will attend the meetings.       The Midwest is expecting severe weather today that will affect millions. Cities like Minneapolis, Chicago, and Kansas City could see large hail and damaging wind gusts. A couple of tornadoes are possible for northern Minnesota and Wisconsin. Meanwhile, nearly a month's worth of rain fell on South Florida yesterday. One-to-two inches is expected further north from Jacksonville to St. Augustine today and tomorrow.       The S&P 500 and Nasdaq hit record highs following the Federal Reserve's decision to leave interest rates unchanged. At the closing bell, the S&P gained 45 points to 54-21, and the Nasdaq jumped 264 points to 17-608. The Dow Jones Industrial Average lost 35 points to 38-712.       The NBA Finals continue on Wednesday. The Dallas Mavericks will host the Boston Celtics for Game Three at the American Airlines Center. The Celtics hold a 2-0 series lead after taking both games in Beantown to begin the Finals. They took down the Mavs 105-98 in Game Two on Sunday. The Mavericks are looking to pick up a much-needed win due to the fact that no team in NBA history has come back from an 0-3 series deficit.