Washington, D.C
Fed chairman tries to appease DC and Wall Street with rate cut – Washington Examiner
After an all-out fight against inflation over the past two years, the Federal Reserve recently voted to lower interest rates by a half percentage point. The Sept. 18 move by the central bank was bolder than many investors expected.
The Fed’s first rate cut since the world collapsed in March 2020 amid the COVID-19 pandemic outbreak drew elation in equities markets. Investors welcomed the supersize rate cut as evidence that the aberration of the last two years of restrictive monetary policy is over.
But reading between the lines, Fed Chairman Jerome Powell and his peers are not imposing some emergency effort to save markets from themselves. In fact, in the yearslong standoff between the Fed and an investor class addicted to the easy money of the 2008-2022 era, the Fed has quietly won its war. It’s done so mostly by ignoring the demands of both Wall Street and Washington, D.C., to forge forward on almost exactly this path a little less than one year ago.
At its final meeting of 2023, the Fed predicted that it would cut rates three times for a total of 75 basis points, but investors telegraphed more than twice as many cuts beginning in the first quarter of 2024. In reality, the Fed has hewed narrowly to what it said it would do all along. Although the central bank will score the inflation reduction headlines it so desperately wants, it’s once again quietly urging caution.
September’s Summary of Economic Projections shows that still nearly half of the Fed’s voting members believe it will only cut rates once more this year, bringing the total 2024 cuts to 75 basis points, exactly what it predicted late last year. Though a narrow majority says it will cut twice more, the SEP predicts a median interest rate of 3.4% by the end of 2025, close to the 3.6% of the final 2023 SEP projected for the end of 2025.
The Fed has also remained precise and constant in its prediction that long-run interest rates will even out at 2.9%, far from the zero-bound once assumed as the default neutral interest rate. Powell reiterated as much during his postmeeting press conference, agreeing that “the neutral rate is probably significantly higher than it was back” during the Zero Interest-Rate Policy era.
Most importantly, the Fed isn’t done. Even beyond Powell’s usual caveats that the Fed remains data-dependent and committed to inflation falling below its 2% target in the long run, the central bank also promised to continue to undo its balance sheet, “reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities.”
In other words, quantitative tightening is far from over, and even when it is, a return to ZIRP seems highly unlikely.
And while already politicos on both sides of the aisle have been jockeying to spin the Fed’s decision for maximum partisan advantage, the Fed has stuck so closely to the script that it’s difficult to imagine either side succeeding in claiming that monetary policy has rigged the 2024 election. By the time Powell announced the September rate cut, let alone, by the time it even trickled down to reduced credit card APRs and mortgage rates, early voting had already begun in lynchpin swing states such as Pennsylvania, with five more states commencing before the month’s end.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
It’s not the Fed has played its part perfectly. Far from it — the Fed’s complicity in financing the bipartisan coronavirus spending spree in 2020 and then its refusal to cut off President Joe Biden and Vice President Kamala Harris in 2021 is why the economy suffered its worst inflationary crisis in 40 years in the first place.
But by its narrow definition of success, the Fed might have pulled off the impossible, and by that, I don’t mean balancing full employment with basic price stability. It’s too soon to say that it has achieved a soft landing, but as far as evading blame from Washington, D.C., and Wall Street, Powell has gotten his greatest wish: insulting the Fed from the institutional blame game of 2024.
Washington, D.C
The Work Behind the Welcome: NPS Tradespeople Restore Dupont Circle, Making D.C. Safer and More Beautiful (U.S. National Park Service)
NPS / Kelsey Graczyk
The hands behind the place
This work took more than plans. It took craftsmen and craftswomen.
NPS carpenters, masons, maintenance workers, preservation specialists, engineers and landscape architects worked together to renew the circle from the ground up. Crews installed about 10,000 feet of wood slats, cut and placed dowels, sanded rough surfaces, repaired worn concrete legs and painted benches to withstand weather and daily use.
Contractors also repaired fountain pipes and restored stone and marble features, returning moving water to the heart of the circle.
“I used to write project plans for this kind of work,” retired NPS Asset Manager Fred Francis said. “Now I’m out here helping do it. I’m working with a great group of people who are experts in their fields.”
Washington, D.C
Homelessness in DC region rises slightly, new report finds – WTOP News
Homelessness in the D.C. region ticked up slightly from 2025 to 2026, according to a new report from the Metropolitan Washington Council of Governments.
Homelessness in the D.C. region ticked up slightly from 2025 to 2026, according to a new report from the Metropolitan Washington Council of Governments.
Christine Hong, chair of the council’s Homeless Services Committee and chief of services to End and Prevent Homelessness with the Montgomery County Department of Health and Human Services, presented the findings at the council’s Wednesday meeting.
The report centers on the U.S. Department of Housing and Urban Development’s mandated point-in-time count of sheltered and unsheltered people experiencing homelessness on a single night in January.
“This year, the count was conducted on Feb. 4. We had to postpone it one week due to the extreme cold and winter weather event that we experienced the week prior,” Hong said. “Although it’s an imperfect measure, it provides an important regional snapshot of homelessness on a single night.”
The D.C. region reported 9,790 total people experiencing homelessness, an increase of 131 people or about 1% from 2025. The year-over-year regional change was modest. This count is closer in line to the 2019 number, before the pandemic.
“The regional story is that homelessness fell during the pandemic era, a period when expanded federal resources and emergency protections were in place, and then increased after those temporary supports ended,” Hong said. “The main takeaway is that regional homelessness is no longer increasing at the pace seen in 2023 and 2024, and is in line with the years immediately preceding the pandemic.”
Results varied by jurisdiction.
D.C. had the largest numerical increase, with 225 additional people counted. Prince George’s County, Maryland, had 175 additional people counted, a 29% increase. Montgomery County saw the largest decrease, down by 390 people or 26%. Hong pointed to the county’s investment in short-term housing.
“Montgomery County also spent a great deal to expand emergency shelter for families, because we are committed to ensuring no family with children would sleep outside even one night,” she said.
The count also included detailed information on race, veterans and household types.
“The broader evidence is clear, and is referenced in the report, that housing costs and the cost of living are major drivers of homelessness risk, especially for families with low income,” Hong said. “In practical terms, this means family homelessness is closely tied to whether low-income families can find and maintain housing.”
Read the full report here.
Get breaking news and daily headlines delivered to your email inbox by signing up here.
© 2026 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.
Washington, D.C
DC police officer caught in Hansen sting due in court
WASHINGTON – The D.C. police lieutenant arrested in a Chris Hansen sting operation is due in court Wednesday.
Lt. Matthew Mahl is accused of soliciting sex with a minor. FOX 5’s Melanie Alnwick reports that Mahl was charged with felony solicitation of a minor. A status hearing Wednesday morning suggests the case could be paused, not prosecuted or dismissed, though the reason remains unclear.
DC police lieutenant arrested in child exploitation investigation tied to Chris Hansen sting
Mahl was one of several people arrested in April as part of an online sting for Hansen’s show “Takedown,” which he describes as a predator investigative series. Hansen’s team, working with members of the Harford County Sheriff’s Office, set up a “sting house” where targets were lured to an address believing they were meeting a juvenile for sex.
Mahl did not enter the sting house. Instead, he was taken out of his vehicle on the street and arrested. He did not answer questions during the post‑arrest interview.
Hansen’s earlier program, “To Catch a Predator,” drew controversy over its tactics, which critics said ruined lives and careers before cases reached court. Others praised the shows for removing alleged child predators from the streets.
Mahl is on administrative leave and has had his police powers revoked. The D.C. police department is conducting its own internal investigation.
The Source: This article was written using information from the Metropolitan Police Department, the Harford County Sheriff’s Office and and previous FOX 5 reporting.
-
Seattle, WA4 minutes agoSeattle weather: Increasing clouds and cool showers on Thursday
-
San Diego, CA10 minutes agoDaily Business Report: May 14, 2026, San Diego Metro Magazine
-
Milwaukee, WI16 minutes agoMilwaukee’s Festival of Flowers returns for second year with new additions
-
Atlanta, GA22 minutes agoAtlanta Dream sign forward Amy Okonkwo to developmental contract ahead of home opener
-
Minneapolis, MN28 minutes agoPTSD leave policy adds financial pressure to Minneapolis Fire Department
-
Indianapolis, IN34 minutes ago
Conor Daly, Alex Palou become 1st drivers to top 228 mph on 2nd day of Indianapolis 500 practice
-
Pittsburg, PA40 minutes agoWhere to watch Colorado Rockies vs Pittsburgh Pirates: TV channel, start time, streaming for
-
Augusta, GA46 minutes agoSouth Georgia wildfires 90% contained, but hot spots still a concern