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'Random' stabbing spree at festival in Germany leaves 3 dead, others injured: report
!['Random' stabbing spree at festival in Germany leaves 3 dead, others injured: report 'Random' stabbing spree at festival in Germany leaves 3 dead, others injured: report](https://static.foxnews.com/foxnews.com/content/uploads/2024/08/solingen2.jpg)
Ferris wheel catches fire at music festival in Germany
Dozens suffered mostly mild injures, but two were seriously hurt, according to reports, when two cars on the ride burst into flames at the Highfield Festival near Leipzig Saturday night. (Credit: TikTok/ @nervdieleudenicht)
A festival in Germany dissolved into chaos after three people were killed in a stabbing spree, local German news agency dpa reported.
The incident happened near the central square of Solingen, Germany, which is located near Cologne and Duesseldorf, at approximately 9:35 p.m. local time.
The residents in the city were enjoying a festival to mark the town’s 650 year anniversary when the attack occurred.
Witnesses said the perpetrator was at large, the outlet added.
The murder weapon was presumably a knife, according to police sources. (Gianni Gattus/picture alliance via Getty Images)
The local agency reported that the weapon was believed to be a knife.
Photos from the incident showed police standing guard near the town center and ambulances at the scene.
This is a breaking news story.
The Associated Press contributed to this report.
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World
Drew Barrymore Promises She ‘Will Try to Practice Physical Distance’ With Her Talk Show Guests
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World
Ukraine says it used US-supplied glide bombs in Kursk incursion
![Ukraine says it used US-supplied glide bombs in Kursk incursion Ukraine says it used US-supplied glide bombs in Kursk incursion](https://static.euronews.com/articles/stories/08/66/74/34/1200x675_cmsv2_93d89365-08c2-54b9-8b20-e562d7d124b4-8667434.jpg)
Many of Ukraine’s international allies oppose the country using donated weapons for anything but defensive purposes. However, Ukraine has argued that its Kursk incursion is essentially defensive and aimed at creating a buffer zone to minimise attacks on Ukrainian soil.
Ukraine’s military says it used high-precision US glide bombs for strikes in Russia’s Kursk region and that is has recaptured some territory in the eastern Ukrainian region of Kharkiv that has been under a Russian offensive since spring.
Ukraine’s Air Force Commander Lieutenant General Mykola Oleschuk published a video on Thursday night purporting to show a Russian platoon base being hit in Kursk, where Ukrainian forces launched a surprise cross-border incursion on August 6.
He said the attack with GBU-39 bombs, which were supplied by the United States, resulted in Russian casualties and the destruction of equipment.
The video showed multiple explosions and plumes of smoke rising at the site.
Many of Ukraine’s international allies oppose the country using donated weapons for anything but defensive purposes. However, Ukraine has argued that its Kursk incursion is essentially defensive and aimed at creating a buffer zone to minimise attacks on Ukrainian soil.
US officials however have said that Washington supports Ukraine’s use of shorter-range weapons such as glide bombs in its attacks across the border.
The US has so far only put a limit on the use of longer-range ATACMS missiles for strikes deep into Russia.
US President Joe Biden said in a statement ahead of Ukraine’s Independence Day that he spoke to Ukrainian President Volodymyr Zelenskyy on Friday to “express America’s unwavering support for the people of Ukraine.”
Biden also announced a new $125 million (€111 million) package of military aid for Ukraine, including air defence missiles, counter-drone equipment, anti-armour missiles and mobile rocket systems.
White House national security spokesman John Kirby said on Friday that US officials have been in near-daily contact with their Ukrainian counterparts and have made no recent changes to guidance on how US weapons can be used in the Kursk offensive.
“They are allowed to use US-provided material to defend themselves against Russian aggression. And, as you know, the president allowed them to use US munitions across that border to deal with imminent threats,” Kirby said in Washington.
He added that it’s unclear how successful Ukraine’s operation in Kursk will be in the long term.
The Russian Defence Ministry said on Friday that its troops turned back Ukrainian attempts to advance on the Kursk region’s villages of Borki and Malaya Loknya.
The ministry also reported taking out a reconnaissance and sabotage group near Kamyshevka, 20 kilometres north of Sudzha, which the Ukrainians took.
Meanwhile, the United States has imposed a fresh round of sanctions on more than 400 entities and individuals for supporting Russia’s war effort in Ukraine.
That includes sanctions on Chinese companies that American officials believe are helping Moscow skirt Western sanctions and build up its military.
Washington has repeatedly warned Beijing over its support for Russia’s defence industrial base and has already issued hundreds of sanctions aimed at restricting Moscow’s ability to exploit certain technologies for military purposes.
The sanctions package includes measures against companies in China involved in shipping machine tools and microelectronics to Russia, according to a State Department fact sheet outlining its sanctions against 190 targets.
World
Takeaways from Fed Chair Powell's speech at Jackson Hole
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell all but proclaimed victory in the fight against inflation and signaled that interest rate cuts are coming in a much-anticipated speech Friday in Jackson Hole, Wyoming.
Under Powell, the Fed raised its benchmark rate to the highest level in 23 years to subdue inflation that two years ago was running at the hottest pace in more than four decades. Inflation has come down steadily, and investors now expect the Fed to start cutting rates at its next meeting in September — an expectation that essentially got Powell’s endorsement Friday.
Declaring Victory
“My confidence has grown that inflation is on a sustainable path back to 2%,” Powell said in his keynote speech at the Fed’s annual economic conference in Jackson Hole.
He noted that inflation, according to the Fed’s preferred gauge, had fallen to 2.5% last from a peak of 7.1% two years ago. Measured by the better known consumer price index, inflation has dropped from a peak 9.1% in mid-2022 to 2.9% last month. Both are edging closer to the Fed’s 2% target.
Powell sounded confident that the Fed would achieve a so-called soft landing — containing inflation without causing a recession. “There is good reason to think that the economy will get back to 2% inflation while maintaining a strong labor market,’’ he said.
Higher rates contributed to progress against inflation, as did the easing of supply chain bottlenecks and worker shortages that caused shipping delays and higher prices as the economy bounded back with unexpected strength from COVID-19 lockdowns.
Signaling Rate Cuts
Powell suggested Friday that rate cuts are all but inevitable. “The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks,” he said.
Last year, the Fed had predicted that it would trim rates three times this year. But the cuts kept getting pushed back as the progress against inflation faltered early in 2024. Since then, the steady drop in inflation has resumed, giving the Fed more confidence that victory was in sight.
Abandoning the Good Ship “Transitory’’
Powell acknowledged that he and his Fed colleagues misjudged the inflationary threat when it emerged in early 2021. At the time, they expected the flareup of higher prices to be short-lived — the temporary consequence of pandemic-related supply chain disruptions. The pressure, they thought, would fade “fairly quickly without the need for a monetary policy response — in short, that the inflation would be transitory.’’
They weren’t alone in their optimism. “The good ship Transitory was a crowded one,’’ Powell said, ”with most mainstream analysts and advanced-economy central bankers on board.’’
But the word “transitory″ came back to haunt the Fed as inflation proved more intractable than expected. It spread from goods that were subject to supply chain backlogs into services, where it is harder to dislodge without raising rates and risking severe economic pain in the form of layoffs and higher unemployment. The Fed proceeded to raise rates 11 times in 2022 and 2023.
A Little Humility
Powell admitted that policymakers and economists have struggled to understand and respond to an economy that has been unpredictable since COVID-19 hit in early 2020. First, the pandemic shut down commerce and companies collectively slashed millions of jobs. Then the economy roared back with unexpected vigor, setting off inflationary pressures that been dormant since the early 1980s. When the Fed belated responded with aggressive rate hikes, economists predicted the hiring borrowing costs would cause a painful recession. But it didn’t.
“The limits of our knowledge — so clearly evident during the pandemic — demand humility and a questioning spirit focused on learnings lessons form the past and applying them flexibly to our current challenges,’’ Powell said.
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