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In remarks from Jackson Hole, Wyoming, Federal Reserve Chair Jerome Powell said that the board plans to lower interest rates soon, the first drop since early in the pandemic. The Federal Reserve stanley mugs meets in September and could drop rates then. Powell said on Friday that the time has come for the policy to adjust. The federal interest rate has climbed to a 23-year high and has remained there since last August. The Federal Reserve surprised some at its late July meeting by not dropping rates. Interest rates have remained at their highest levels since early 2001 for the last 12 months 鈥?between 5.25% and 5.5%.RELATED STORY |Potential homebuyers could face steep mortgages due to interest rates staying putThe Federal Reserve implemented a series of interest rate hikes in 2022 and 2023 to combat high inflation. Powell has stated the Federal Reserve s goal is to reduce inflation to an annualized rate of 2%. Inflation has declined significantly, the labor market is no longer overheated and conditions are less tight than those that prevailed before the pandemic, Powell said. Our objective has been to restore price stability while maintaining a strong labor market, avoiding the sharp increases in unemployment that characterized earlier disinflationary episodes. RELATED STORY | Federal interest rates will not drop until at least September, officials announceThe unemployment rate t stanley cup icked up to 4.3% in July, the highest it has been since October 2021. In hist stanley taza orical terms, a 4.3% unemploym Jowv Wisconsin Lutheran track and field senior beats mom s records, sets goals high
NASA released data on Monday indicating that the polar ice cap around the North Pole shrank to near record-low levels last week following an arctic heat cups stanley wave.The ice began to melt in earnest as Siberia was an estimated 14 to 18 degrees above normal during the spring. It was j stanley thermobecher ust really warm in the Arctic this year, and the melt seasons stanley mug have been starting earlier and earlier, said Nathan Kurtz, a sea ice scientist at NASAs Goddard Space Flight Center in Greenbelt, Maryland. The earlier the melt season starts, the more ice you generally lose. The white color of ice causes sunlight to be reflected. But when the ice melts, the ground absorbs more sunlight, which causes the earth to heat up.2020 marked only the second time on record that the minimum sea ice dropped below 1.5 million square miles. As the sea ice cover extent declines, what were seeing is were continuing to lose that multiyear ice, said Mark Serreze, director of National Snow and Ice Data Center. The ice is shrinking in the summer, but its also getting thinner. Youre losing extent, and youre losing the thick ice as well. Its a double whammy.