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Fed reserve increase rates – what it means for you

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Mortgage repayments in the United States are on the rise again, with the Federal Reserve hiking rates by three-quarters of a percent for the second month in a row

The Fed is trying to push down runaway inflation without creating a recession.

It’s the most dramatic action taken by the Fed since the 1990s, and will impact loan repayments for millions of Americans.

Mortgages, car loans and credit cards will all be impacted.

Markets expected the move after Fed officials telegraphed the increase in a series of statements over recent weeks.

Central bankers say the priority is to bring down inflation, even if it slows down the economy.

 Fed Chair Jerome Powell doesn’t believe the US economy is in recession, though growth was negative in the first quarter and was expected to be barely positive in the second quarter.

Mortgage rates have been rapidly climbing since the beginning of 2022, and currently sit at 5.7% for a fixed-rate mortgage. 

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Amazon turns to deforestation in Africa

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Amazon’s founder and CEO is no stranger to making headlines, and his latest venture is sure to turn some heads.

Bezos is looking to help reverse deforestation on 100 million acres of land in Africa by 2030.

The billionaire’s philanthropic organisation, the Bezos Earth Fund, is championing the cause and working with African Union countries to make it happen.

If successful, it would be a major win for the environment and help preserve some of Africa’s most biodiverse and threatened ecosystems.

So why is Bezos focusing on Africa?

Well, the continent is home to some of the world’s most endangered species and its ecosystems are under immense pressure from human activity.

His organisation’s efforts could help to protect these animals and their habitats, while also providing a much-needed boost to the local economy.

It comes as the Earth Fund’s CEO says richer countries are going to have to step up the support for their struggling counterparts…

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Four killed in Himalayas avalanche

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At least four people have been killed and dozens more are missing after an avalanche hit a group of mountaineers high in the Indian Himalayas.

The avalanche victims were part of a group of 34 trainees and seven instructors who were practicing navigation at the time.

The students were from different parts of India, and had come to the Himalayas for a mountaineering course.

So far, eight people have been rescued, while the rest are trapped in a crevasse.

Search efforts have been paused for the night due to intense rain and snowfall.

Local media reports say the number of casualties may rise significantly as further details emerge.

It comes just one week after American professional skier, Hilaree Nelson was also found in the Nepali Himalayas.

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Trump calls on Supreme Court to end raid probe

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Former President Donald Trump filed an emergency appeal at the Supreme Court over the FBI raid on his Mar-A-Lago estate.

Trump wants the court to temporarily block the Justice Department from reviewing classified documents seized at his Florida estate in early August.

The appeal came days after a three-judge panel of the Atlanta-based U.S. Court of Appeals said investigators could retain the classified documents and review them as part of a criminal investigation.

Despite nominating three associate justices during his time in the White House – Trump’s record at the Supreme Court hasn’t been too successful.

The high court repeatedly refused pro-Trump efforts to challenge the results of the 2020 election.

The litigation stems from an Aug. 8 FBI search of Trump’s Mar-a-Lago club in Florida, which came as part of a federal investigation into allegations he took classified documents from the White House.

Because the case is filed on the Supreme Court’s emergency docket, the justices could resolve the dispute relatively quickly – potentially within a matter of days.

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