Congressional Budget Office says inflation to last into 2023
The nonpartisan agency expects the consumer price index to rise 6.1% this year and 3.1% in 2023, above a long-term baseline of 2.3%.
Associated Press
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Fed officials signal rates might head to ‘restrictive’ levels
Federal Reserve officials agreed when they met earlier this month that they may have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which is near a four-decade high.
FDA chief struggles to explain slow response on baby formula
The FDA and President Joe Biden face mounting political pressure to explain why they didn’t intervene sooner to head off the supply crisis.
Gainbridge extends deal as presenting sponsor of Indy 500
The Indianapolis 500 will be presented by Gainbridge for the next several years under a contract extension announced Wednesday with the online investment platform.
Indiana Fever fire Stanley as coach after 2-7 start
Marianne Stanley brought a Hall of Fame resume to the Fever bench, but her teams won just 14 games in a little more than two seasons.
Social media hammered by mounting questions over advertising
Social media companies are competing for the same pool of advertising money that is increasingly under threat from spiking inflation and also changes at Apple Inc. that can restrict the information social media platforms can collect on users, a big selling point for advertisers.
NCAA survey shows mental health still concern for athletes
A survey of college athletes by the Indianapolis-based NCAA suggests that rates of mental exhaustion, anxiety and depression remain as much as twice as high as pre-pandemic levels, but feelings of hopelessness have improved.
Indiana lawmakers override governor’s veto of trans sports bill
State senators voted 32-15 in favor of overriding Gov. Eric Holcomb following the same action in a 67-28 vote by the House earlier in the day.
Local Big Brothers Big Sisters group gets $2.9M of blockbuster gift
Billionaire philanthropist MacKenzie Scott has given $122.6 million to Big Brothers Big Sisters of America, which includes $2.9 million for the local arm of the youth mentoring organization.
Poll: U.S. economy bigger priority than punishing Russia
While broad support for U.S. sanctions has not faltered, the balance of opinion on prioritizing sanctions over the economy has shifted, according to the poll from The Associated Press-NORC Center for Public Affairs Research.
Hyundai recalls 239,000 cars for exploding seat belt parts
Regulators said that the driver’s and front passenger’s seat belt pretensioners can explode upon deployment and send shrapnel throughout the vehicle.
Stock market slump unsettling Americans eying retirement
A stock market slump this year has taken a big bite out of investors’ portfolios, including retirement plans like 401(k)s.
Kellett breaks crash-free streak at Indy 500 practice
The horsepower boost that produced record speeds in qualifying went away Monday when teams swapped their engines for the power plants that will be used in Sunday’s race.
Stellantis to make Indiana announcement; might be battery plant
Automaker Stellantis said it will give an update on the future of its Kokomo operations at an Indiana community college on Tuesday afternoon.
Amazon to sublease warehouses as online shopping slows
Seattle-based Amazon doubled the size of its operations during the pandemic, adding more warehouses and employees. But as the worst of the pandemic eased, it found itself with too much warehouse space and too many workers.
USA Swimming sets dates for 2024 Olympic trials
The trials are set to end 33 days before the beginning of the Olympics on July 26. That mirrors the time frame used for both the 2016 and 2021 trials.
Pfizer says three low-dose COVID shots protect children under 5
Pfizer plans to give the data to U.S. regulators later this week in a step toward letting the littlest children get the shots. The 18 million tots under 5 make up the only group in the U.S. not yet eligible for COVID-19 vaccination.
Federal judge issues order against research dog-breeding facility
U.S. District Judge Norman Moon said the evidence from federal inspections shows more than 300 beagle puppies have died at the facility, which is owned by Indianapolis-based Envigo, over the last seven months of unknown causes.
78,000 pounds of infant formula arrives in Indianapolis
A military plane carrying enough specialty infant formula for more than half a million baby bottles arrived Sunday, the first of several flights to the United States expected from Europe aimed at relieving a ongoing shortage.
Scott Dixon blazes to Indy 500 pole in record 234 mph run
Dixon turned four laps on Sunday at an average of 234.046 mph around Indianapolis Motor Speedway. His average broke Scott Brayton’s pole-winning record set in 1996 of 233.718 mph.