White House Keeps Pressure on Powell Over Rate Cuts and Renovations

A fire at Gabriel House assisted living center in Fall River, Mass., on July 13 killed 10 people, originating from a resident's second-floor room containing an oxygen machine and smoking materials. Massachusetts state fire marshal Jon Davine stated the fire was accidental, likely caused by either an oxygen concentrator malfunction or improper disposal of smoking items, emphasizing the dangers of smoking around medical oxygen. Want More Context? 🔎

The Hershey Company is raising candy prices by a low double-digit percentage due to escalating cocoa costs, which have surged 73% in the past five years amid a global shortage exacerbated by climate-related issues. CEO Michele Buck indicated a shift towards less cocoa-intensive products while maintaining growth in their chocolate business, with Hershey's shares rising 2.8% post-announcement. Want More Context? 🔎

President Trump has proposed eliminating the federal capital gains tax on home sales, supporting legislation by Rep. Marjorie Taylor Greene, who argues it burdens homeowners, especially seniors. While this move could increase housing inventory, critics warn it may primarily benefit wealthier individuals and exacerbate affordability issues. Want More Context? 🔎

Jack McAuliffe, the founder of New Albion Brewing Company, the first new brewery in America post-Prohibition, passed away on July 15 at age 80. His pioneering approach to craft brewing in 1976, utilizing unique ingredients like cascade hops, inspired the growth of over 9,900 breweries in the U.S. today. Want More Context? 🔎

The United States Olympic & Paralympic Committee has updated its eligibility rules to prevent transgender women from competing in Olympic women’s sports, in compliance with President Trump's executive order. The new policy, which lacks specific details and does not explicitly mention "transgender," mandates national sports bodies to align with these guidelines to ensure a fair competition environment for women. Want More Context? 🔎

Federal judges in New Jersey replaced interim U.S. Attorney Alina Habba with her first assistant, Desiree Leigh Grace, due to Habba's struggles for Senate confirmation amid opposition from the state's Democratic senators. The decision was criticized by Deputy Attorney General Todd Blanche, who accused the judges of pushing a partisan agenda, while Democratic Sen. Cory Booker supported the change for impartial law enforcement. Want More Context? 🔎