Fed could weigh historic 100 basis-point hike after inflation scorcher
Investors upped bets the central bank could make a one percentage-point rate hike at its July 26-27 meeting—which would be the largest increase of the modern Federal Reserve era.
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U.S. inflation reached 40-year high of 9.1% in June
Rising costs have seeped into nearly every corner of the economy, with grocery prices jumping 12.2% compared with a year ago. Rents have risen 5.8% and new car prices have increased 11.4%.
Former grocery exec to lead Indiana Department of Labor
David Redden served in numerous executive roles for former grocery chain Marsh Supermarkets for almost 20 years.
There’s no U.S. recession until an obscure panel of ‘eggheads’ says it is so
While many countries define an economic downturn as two consecutive quarters of negative growth for gross domestic product, the U.S. defers this assessment to elite academics at the National Bureau of Economic Research.
IndyCar champ Alex Palou says he’s leaving Ganassi for McLaren
Shortly after Chip Ganassi Racing announced Tuesday it would exercise a team option to keep the star Spaniard next season, Palou and Arrow McLaren SP said they had agreed to a deal for 2023.
Council receives pushback over charitable food distribution proposals
A City-County Council proposal regulating charitable food donations sparked controversy Monday night, leading the group to delay the public hearing.
Area existing-home sales beginning to slow, but prices still rising
The active inventory of for-sale homes rose 47% from the previous month in central Indiana. Higher inventories could help bring down prices in coming months.
Indiana governor walks back comment on abortion bill
Indiana Gov. Eric Holcomb on Tuesday took back his previous statement that he expects to sign whatever abortion-restricting bill comes across his desk, but he struggled to articulate where specifically he stands on the incoming legislation.
Twitter sues to force Musk to complete his $44B acquisition
In a fiery filing, Twitter accuses Musk of violating the merger agreement “because the deal he signed no longer serves his personal interests.”
Indy Autonomous Challenge to return to Las Vegas
The Indy Autonomous Challenge and its driverless race cars made their first appearance at CES last January.
Labor Department awards $5M to Ivy Tech for apprenticeship expansion
The new funding specifically targets the growing electric vehicle industry, including EV manufacturing and infrastructure.
Amazon Prime Day comes amid slowdown in online sales growth
The company has long used the two-day event to lure people to its Prime membership. This year, it could help Amazon boost profitability amid a slowdown in overall online sales.
Economists expect fresh U.S. inflation peak, keeping Fed on aggressive rate path
The consumer price index probably increased 8.8% in June from a year earlier, marking the largest jump since 1981, according to the median forecast in a Bloomberg survey.
Pandemic fueled surge in superbug infections, deaths, CDC says
The surge reversed years of progress fighting one of the gravest public health challenges in modern medicine, according to a new analysis released Tuesday by the Centers for Disease Control and Prevention.
Steak n Shake owner plans $3M rooftop tavern next to Fieldhouse
Sardar Biglari expects to spend at least $3 million to renovate the historic C.A. Schrader building’s top floor and construct an addition to the neighboring structure.
Far out: NASA unveils first image from new $10B telescope
The first image from the $10 billion James Webb Space Telescope is the farthest humanity has ever seen in both time and distance, closer to the dawn of time and the edge of the universe.
Lebanon City Council approves annexation of property for high-tech development
Nearly three dozen individuals and companies who own more than 1,400 acres over 56 parcels submitted petitions last month to have their properties added to the city of Lebanon.
Investigation: State lotteries transfer wealth out of needy communities
A nationwide investigation of state lotteries by the Howard Center for Investigative Journalism at the University of Maryland found that lottery retailers are disproportionately clustered in lower-income communities in nearly every state.
Biden administration: Docs must offer abortion if mom’s life at risk
The Biden administration on Monday said federal law on emergency treatment guidelines preempts state laws in jurisdictions that now ban the procedure without any exceptions.
Biden officials push to offer second booster shots to all adults
Virus levels have risen across the country, fueled by ever-more-contagious omicron subvariants such as BA. 5 that evade some immune protections and have increased the risk of reinfections.