Things To Do In SW Florida

By CORA LEWIS, Associated Press

NEW YORK (AP) — The Federal Reserve cut its benchmark interest rate Wednesday for the first time in nine months. Since the last cut, progress on inflation has slowed while the labor market has cooled. That means Americans are dealing with both high prices and a challenging job market.

The federal funds rate, set by the Federal Reserve, is the rate at which banks borrow and lend to one another. While the rates that consumers pay to borrow money aren’t directly linked to this rate, shifts in Fed policy affect what people pay for credit cards, auto loans, mortgages, and other financial products.

Wednesday’s quarter-point cut is the first since December and lowers the Fed’s short-term rate to about 4.1%, down from 4.3%. The Fed projected it will cut rates two more times before the end of the year.

The Fed has two goals when it sets the rate: one, to manage prices for goods and services, and two, to encourage full employment. This is known as the “dual mandate.” Typically, the Fed might increase the rate to try to bring down inflation and decrease it to encourage faster economic growth and more hiring. The challenge now is that inflation is higher than the Fed’s 2% target but the job market is weak, putting the Fed in a difficult position. read more

If you’ve been to the store lately, the price of some goods may look a little different. From bananas and oranges to chicken, a handful of everyday grocery items are at or less than a cent away from record prices.

The most noticeable of these? Ground beef. Now more than $6.60 a pound, the cost of ground beef is soaring to all-time highs, jumping another 30 cents month-over-month, according to the latest data from the consumer price index.

But before you start budgeting, most consumer prices showed very minimal changes. The cost of eggs and bread are down, and nationally, gas is only a cent more than it was the previous month.

Across the board, inflation accelerated in August, rising 0.4%. Compared with a year ago, consumer prices are about 2.9% higher, an increase economists largely attribute to sweeping tariffs levied by President Donald Trump.

The Tribune is tracking 11 everyday costs for Americans — eggs, milk, bread, bananas, oranges, tomatoes, chicken, ground beef, gasoline, electricity and natural gas — and how they are changing, or not, under the second Trump administration. This tracker is updated monthly using CPI data from the U.S. Bureau of Labor Statistics. read more

Six Central Florida restaurants shut down the week of Sept. 7-13, according to data from the Florida Department of Business and Professional Regulation.

Orange

Pang’s BBQ at 5132 W. Colonial Dr. in Orlando shut down on Sept. 11. Inspectors found 19 violations, three of which were high priorities. Those violations included flying insects, rodent activity and food held at the wrong temperatures. A second inspection occurred on Sept. 12. There were still 19 violations and the restaurant remained closed. Two more inspections occurred on Sept. 15. On the first inspection, the restaurant remained closed. A final inspection found eight violations, only one of which was a high priority for food held at the proper temperature. It was corrected on site. The restaurant met inspection standards.

Chipotle Mexican Grill #570 at 2850 S. Kirkman Road in Orlando shut down on Sept. 10. Inspectors found 12 violations, five of which were high priorities. Those violations included flying insects, the presence of pests, roach and rodent activity. A second inspection occurred on Sept. 11. Inspectors found two violations, and received a time extension for not having a functional dish washing machine. The restaurant is waiting for a part to fix it. A follow-up inspection is required, but there is no immediate threat to the public. read more

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks are churning between gains and losses on Wednesday amid uncertainty about how many more of the cuts to interest rates that Wall Street loves are on the way.

The S&P 500 slipped 0.1% and was hanging near its record set at the start of the week. The Dow Jones Industrial Average was up 230 points, or 0.5%, with less than an hour remaining in trading, while the Nasdaq composite was 0.2% lower.

The swings came after the Fed cut its main interest rate for the first time this year. That move was no surprise for Wall Street, which was widely expecting it. More important was the set of projections that Fed officials published showing where they expect interest rates to go in upcoming years.

That indicated the typical member sees the Fed cutting the federal funds rate two more times by the end of this year and once more in 2026.

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By MARCIA DUNN

CAPE CANAVERAL, Fla. (AP) — A newly launched supply ship has run into engine trouble that is preventing it from reaching the International Space Station.

Northrop Grumman’s capsule rocketed into orbit Sunday from Florida aboard SpaceX. But less than two days later, the capsule’s main engine shut down prematurely while trying to boost its orbit.

The Cygnus capsule was supposed to dock Wednesday, delivering more than 11,000 pounds (5,000 kilograms) of cargo. But NASA said everything is on hold while flight controllers consider an alternate plan.

This marked the debut of Northrop Grumman’s newest, extra large model, known as Cygnus XL, capable of ferrying a much bigger load.

The shipment includes food and science experiments for the seven space station residents, as well as spare parts for the toilet and other systems.

Northrop Grumman is one of NASA’s two cargo suppliers to the space station. The other is SpaceX. Russia also provides regular shipments to the 260-mile-high (420-kilometer-high) orbiting lab, with the latest delivery arriving over the weekend. read more