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Month: September 2025

Federal Reserve cuts key rate for first time this year

Federal Reserve cuts key rate for first time this year

By CHRISTOPHER RUGABER, AP Writer

WASHINGTON (AP) — The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation’s labor market.

The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. Fed officials, led by Chair Jerome Powell, had kept their rate unchanged this year as they evaluated the impact of tariffs, tighter immigration enforcement, and other Trump administration policies on inflation and the economy.

Yet the central bank’s focus has shifted quickly from inflation, which remains modestly above its 2% target, to jobs, as hiring has grounded nearly to a halt in recent months and the unemployment rate has ticked higher. Lower interest rates could reduce borrowing costs for mortgages, car loans, and business loans, and boost growth and hiring.

“In this less dynamic and somewhat softer labor market, the downside risks to employment appear to have risen,” Powell said at a press conference following the Fed’s two-day meeting. read more

Congressman says TikTok serves as Chinese ‘weapon’ sowing discord among young Americans

Congressman says TikTok serves as Chinese ‘weapon’ sowing discord among young Americans

TikTok is not the benign source of entertainment and information that its audience of young fans believe they’re getting, Congressman Jared Moskowitz warns. Rather, he warns, it is a dangerous propaganda weapon that China is using to manipulate public opinion and divide Americans.

The intention and impact are so great, Moskowitz said, that TikTok amounts to a large-scale psychological operations effort by China. “I want to be clear: I don’t want to ban TikTok. But you have to recognize it’s a psyops weapon.”

How the U.S. deals with it — changes could be announced imminently — is a “huge” part of “how we’re going to control how propaganda gets fed to the American people,” Moskowitz said.

The Broward-Palm Beach county Democrat discussed TikTok and other implications of social media on an episode of “The Chuck Toddcast” podcast that dropped earlier this month. His comments came before this week’s developments, with Treasury Secretary Scott Bessant suggesting a TikTok deal is in the offing. read more

Latest Disney World deal: 3 theme parks, 3 days, $210

Latest Disney World deal: 3 theme parks, 3 days, $210

Walt Disney World has rolled out a new three-day ticket offer to Florida residents that’s valid almost through the end of 2025.

The three-day, three-park ticket, is now on sale for $210. It’s good for visits between Oct. 5 and Dec. 23. It’s valid only at Epcot, Disney’s Hollywood Studios and Disney’s Animal Kingdom theme parks — not at Magic Kingdom. Visitors can go to one of those three parks more than once under this plan, and the visits do not have to be on consecutive days.

Theme park reservations are required, and they are subject to availability. With Florida resident tickets, adults must show proof of Florida residency at a Walt Disney World park ticket window before the first use.

There are upgrade options, including park-hopping between the trio on a single day (additional $40 per ticket) and one that includes water park visits (for $35).

Disney: What it costs to eat entire menu of Epcot food fest

The time period of the offer includes the remainder of the Epcot International Food & Wine Festival, which ends Nov. 22, and the beginning of the Epcot International Festival of the Holidays, which begins Nov. 28. read more

Parents of teens who died by suicide after AI chatbot interactions to testify to Congress

Parents of teens who died by suicide after AI chatbot interactions to testify to Congress

By MATT O’BRIEN, AP Technology Writer

EDITOR’S NOTE: This story includes discussion of suicide. If you or someone you know needs help, the national suicide and crisis lifeline in the U.S. is available by calling or texting 988.

Parents whose teenagers killed themselves after interactions with artificial intelligence chatbots testified to Congress on Tuesday about the dangers of the technology.

“What began as a homework helper gradually turned itself into a confidant and then a suicide coach,” said Matthew Raine, whose 16-year-old son Adam died in April.

“Within a few months, ChatGPT became Adam’s closest companion,” the father told senators. “Always available. Always validating and insisting that it knew Adam better than anyone else, including his own brother.”

Raine’s family sued OpenAI and its CEO Sam Altman last month alleging that ChatGPT coached the boy in planning to take his own life.

Also testifying Tuesday was Megan Garcia, the mother of 14-year-old Sewell Setzer III of Florida. read more

Costco recalls Prosecco because bottles could shatter without warning

Costco recalls Prosecco because bottles could shatter without warning

By DEE-ANN DURBIN, AP Business Writer

Costco is recalling bottles of store brand Prosecco because they could shatter without warning.

In a notice on the company’s website Tuesday, Costco said the recall affects Kirkland Signature Prosecco Valdobbiadene purchased between April 25 and August 26. The affected bottles were sold in Iowa, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, North Dakota, Nebraska, Ohio, South Dakota and Wisconsin.

Costco said unopened bottles can shatter even when they’re not being handled or in use. The company said customers should wrap any unopened bottles in paper towels and place them in a plastic bag before disposing of them to avoid any risk from shattered glass.

Costco didn’t respond Tuesday when The Associated Press asked if there were any reported injuries due to the issue. The company also didn’t say how many affected bottles were sold or how the company discovered the problem.

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Congressman says TikTok serves as Chinese ‘weapon’ sowing discord among young Americans
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