Things To Do In SW Florida

By MARY CLARE JALONICK and SEUNG MIN KIM (Associated Press)

WASHINGTON (AP) — It’s a deal no one in Washington claims to really like. But after weeks of negotiations, President Joe Biden and House Speaker Kevin McCarthy have struck an agreement to raise the debt ceiling and avert a potentially devastating government default.

The stakes are high for both men — and now each will have to persuade lawmakers in their parties to vote for it.

Biden, in an exchange with reporters on Monday, said he felt good about where things stood, but acknowledged that he wasn’t sure if all Democrats on the left will get on board. Biden called on the liberal wing of his party to hear him out. “Talk to me,” he said.

Some progressives have balked at the inclusion of new work requirements in two government assistance programs as well as spending caps. Biden on Monday called on the liberal wing of his party to hear him out.

Treasury Secretary Janet Yellen said last week that the United States could run out of cash to pay the bills and default on its obligations if the debt ceiling is not raised by June 5. read more

A month ago, federal data showed relatively flat prices from February to March. Friday’s fresh figures tell a different story.

This month’s personal consumption expenditures price index (PCE) suggests that inflation rose more sharply in April than in the preceding two months. The PCE increased 0.4% in April after rising 0.1% in March and 0.3% in February, according to a Bureau of Economic Analysis report released Friday.

The PCE measures consumer spending by tracking prices that U.S. consumers are currently paying for goods and services. The Bureau of Economic Analysis releases new PCE data on a monthly basis.

This month’s report found that:

• Annually, the PCE price index rose 4.4% in April, compared to 4.2% in March.
• On an annual basis, prices for goods increased 2.1% in April, while prices for services increased 5.5%. In March, on an annual basis, the prices of goods increased 1.6%, while prices for services swelled 5.5%.
• Core PCE, which excludes food and energy, rose 0.4% from March to April after rising 0.3% from February to March.

The PCE price index, and specifically core PCE, is the Federal Reserve’s preferred measure of inflation. The Fed, aiming to tame inflation, meets on June 13 and 14 to decide whether or not to raise the federal funds rate for the 11th time since March 2022.

In that same week, we’ll see another new inflation metric. On June 13, new consumer price index data will be released. Among other differences between that index and PCE, the CPI data is published by the Bureau of Labor Statistics. read more

The bad weather the formed in the Atlantic this weekend gave crew and passengers on board Carnival Sunshine a rough ride Saturday. Videos showed flooding on the lower decks and tumultuous seas rocking the ship before it was able to get into its home port of Charleston, S.C.

“Carnival Sunshine’s return to Charleston was impacted by the weather and rough seas on Saturday,” the cruise line said in an emailed statement Monday. “The weather’s prolonged impact on the Charleston area delayed the ship’s arrival and as a result, the next voyage’s embarkation was also delayed. We appreciate the patience and understanding of all our guests. Carnival Sunshine is now sailing on its next cruise.”

The high seas were associated with a non-tropical low mixed with a storm front that had been sitting on Florida all week that the National Hurricane Center had been keeping tabs on, noting a small chance it could form into a tropical or subtropical depression.

As the system moved up toward the Carolina coast, gale and high seas warnings were issued from Florida up to Virginia, and Carnival Sunshine endured some of those effects as it waited to get into port. Weather reports showed winds in the area of up to 75 mph. read more