Inflation hits highest level in nearly 3 years, Fed’s preferred gauge shows
A worker stacks groceries at a store in Brooklyn on May 12, 2026, in New York City. The rise in fuel, food, and other essentials for millions of Americans comes as the war with Iran continues to be a drag on both the domestic and international economy. (Photo by Spencer Platt/Getty Images)
(WASHINGTON) — Inflation jumped for a second consecutive month in April as the Iran war drove up gasoline prices and strained household budgets, government data on Thursday showed.
Prices rose 3.8% in April compared to a year earlier, according to the Personal Consumption Expenditures (PCE) Index, an inflation gauge preferred by the Federal Reserve. The PCE stood at 2.8% as recently as February.
Inflation now stands at its highest level since May 2023, the Commerce Department report showed.
The savings rate, meanwhile, fell to 2.6%, its lowest level since 2022, suggesting some strapped consumers are struggling to stash away extra funds.
A persistent increase in consumer prices may put pressure on the Fed to raise interest rates as a means of dialing back inflation. The latest reading comes days after Fed Chair Kevin Warsh began a four-year term atop the central bank.
For now, futures markets overwhelmingly expect the Fed to hold interest rates steady when policy makers meet next month, according to the CME FedWatch Tool, a measure of investor sentiment.
However, markets peg the chances of a quarter-point rate increase by the end of the year at more than one in three, well above where odds of a rate hike stood prior to the war, the tool shows.
The benchmark interest rate stands at a level between 3.5% and 3.75%. That figure marks a significant drop from a recent peak attained in 2023, but borrowing costs remain well above a 0% rate established at the outset of the COVID-19 pandemic.
The Middle East conflict prompted the Iranian closure of the Strait of Hormuz, a maritime trading route that facilitates the transport of about one-fifth of global oil supply. The standoff triggered one of the largest oil shocks ever recorded.
As a result, gasoline prices surged. The price of an average gallon of gas stood at $4.42 as of Thursday, AAA data showed – an increase of $1.44 per gallon since the war began on Feb. 28. That amounts to a 48% price jump in about three months.
More than a dozen thieves stole more than 250 cars and a million dollars’ worth of auto parts throughout the Bronx, according to the NYPD and the Bronx district attorney’s office. (Bronx DA/NYPD)
(NEW YORK) — An alleged group of car thieves who worked fast and furious at night to steal over 250 cars and auto parts in the Bronx were arrested and charged Friday, investigators said.
The Bronx District Attorney’s office indicted 16 alleged members of the Trinitarios street gang in a nearly 1,000-count indictment with grand larceny, auto stripping, and other offenses. Nine of the 16 were arrested as of Friday morning, according to the DA’s office.
The suspects would allegedly lift the target car and use power tools to remove all four tires and rims off within minutes, according to the NYPD and DA.
“These defendants allegedly worked as fast as a racetrack pit crew in the dead of night, stealing cars, tires and rims and catalytic converters worth more than $1 million on the black market,” Bronx DA Darcel Clark said.
Many of the thefts, as many as six per night, were caught on video showing a three-person crew exiting a stolen car, fully masked, with gloves, a car jack and milk crates, investigators said.
“All across the Bronx, people heading to work or school in the morning found their cars propped on crates, or an empty parking space, leaving them stranded and financially strained, the DA said.
The suspects allegedly used public parking garages throughout the Bronx to store the stolen vehicles before and after the thefts, which occurred between midnight and 5 a.m., according to the police.
Other defendants bought the stolen catalytic converters and then sold them on the black market, the indictment said. In one defendant’s home, police said they found a suitcase with $116,000 in cash.
Attorney information for the suspects was not immediately available.
An Air Canada Express plane sits on the tarmac after it collided with a fire truck on the tarmac at LaGuardia Airport on March 23, 2026 in New York City. (Photo by Spencer Platt/Getty Images)
(NEW YORK) — A regional Air Canada jet crashed late on Sunday into a Port Authority airport vehicle at LaGuardia Airport in New York, a collision that demolished the front of the airplane, killed two pilots, injured dozens of others and prompted the airport to shut down on Monday morning, law enforcement and aviation officials said.
At least 41 people were transferred to local hospitals after the plane, which was operated by Jazz Aviation, struck a rescue-and-firefighting vehicle that had been “responding to a separate incident,” a Port Authority spokesperson said in a statement. Two of the injured were Port Authority officers and the other 39 were passengers, officials said.
“The airport will remain closed until at least 2 p.m. Monday to allow for a thorough investigation,” the authority said.
The collision happened shortly after the plane, Air Canada Flight 8646, which was carrying four crew members and 72 passengers, touched down, according to Port Authority Executive Director Kathryn Garcia.
Jazz Aviation, which is based in Halifax, Nova Scotia, issued a statement confirming the incident, saying it happened at 11:47 p.m. Air Canada said on social media that it was “aware of an incident” and that Jazz Aviation would issue updates as needed.
All passengers have been accounted for, Garcia told reporters at a pre-dawn press conference at the airport. An unaccompanied minor on the plane was reunited with their family, she said.
Thirty-two of those who had been transferred to the airport were later released, Garcia said, adding that several others had serious injuries. Two Port Authority police officers who were injured — a sergeant and an officers — were in stable condition at the hospital, she said.
The regional jet involved in the collision had traveled from Montreal to New York, according to Flightradar24, a flight information tracker. The cause of the crash was not immediately clear. Preliminary information appeared to show that the flight had landed on Runway 4 and was rolling down the runway when the collision occurred.
The National Transportation Safety Board said it was sending a team to investigate the crash. Chair Jennifer Homendy will serve as the on-scene spokesperson, accompanied by member John DeLeeuw, according to the NTSB. Those investigators were on site by the time Garcia spoke at about 4:30 a.m. ET, according to the Port Authority.
New York City Emergency Management said in a statement that its first responders were present at the airport, adding that the initial response from the Fire Department had ended.
“Units will remain on scene with a watch line that includes one engine, one ladder, and one battalion chief,” the NYCEM’s statement said. “The NTSB is on scene leading the investigation.”
The pilot and the co-pilot of the plane were killed in the crash, multiple officials briefed on the situation said earlier. The New York City Chief Medical Examiner’s Office was on-scene early on Monday, and officials were awaiting confirmation of the identities of those who were killed. Next of kin were to be notified before their names were released, officials said.
The ground vehicle — a Port Authority Aircraft Rescue and Firefighting — had requested permission and had been cleared by the air traffic controller to cross Runway 4 at taxiway Delta, according to audio recordings. Shortly after that permission was granted, an air traffic controller was heard telling the vehicle to stop several times right before the collision, according to the recordings.
At least 18 flights have been diverted from LGA following the airport’s closure, with most being sent to New York’s John F. Kennedy International Airport or to New Jersey’s Newark Liberty International Airport.
A union official had earlier told ABC News that there were two individuals who had been injured in the crash, saying they were Port Authority police officers assigned to firefighter duty at LaGuardia Airport.
Printed documents available at Epstein Library on the U.S. Department of Justice website are seen in this illustration photo taken in Krakow, Poland on February 6, 2026. (Photo by Jakub Porzycki/NurPhoto via Getty Images)
(NEW YORK) — The Department of Justice on Thursday released three previously withheld FBI interview reports from 2019 related to a woman who made uncorroborated allegations that she was abused by Donald Trump in the 1980s, when she was a minor.
In a statement on social media, the Department of Justice said the interview summaries — known as FBI 302 reports — were initially withheld from the January release of millions of pages of DOJ documents related to Jeffrey Epstein because they were believed to be duplicative of other documents.
“What we found through extensive review is that a published 302 — additionally disclosed in a published spreadsheet — had subsequent 302s that were coded as ‘duplicative.’ After this was brought to our attention, we reviewed the entire batch with the similar coding and discovered 15 documents were incorrectly coded as duplicative,” the DOJ account said.
The statement did not appear to explain why, beyond possible human error, the records were marked as duplicative. As of Thursday evening, the DOJ database still does not include the handwritten notes from the interviews themselves.
According to the reports, the FBI interviewed the woman four times between July and October 2019. During each of the interviews with the woman, whose identity is redacted, she made allegations of abuse against Epstein.
In her second interview with federal investigators, she claimed that Epstein once took her to either New York or New Jersey where he introduced to Trump when she was between the ages of 13 and 15 years old. According to the report, she claimed Trump abused her during that trip.
In the fourth interview in October 2019, the woman declined to provide additional details about the alleged interaction with Trump when asked by agents, according to the summary of that interview.
Her statements to the federal agents allege that the incident with Trump took place in the early-to-mid 1980s — a period when Epstein and Trump did not appear to be in contact.
Trump has denied any wrongdoing related to his relationship with Epstein or any knowledge of Epstein’s criminal activity.
In her initial interview with the FBI, the woman claims she was sexually abused by Epstein after being hired for what she thought was a babysitting job, but she said there were no children present. Similar abuse occurred, she said, on several more occasions, according to the summary of the first report, which was released by the DOJ in January.
The witness said multiple alleged incidents with Epstein took place in South Carolina, a location not known to have been frequented by Epstein. The timing of the allegations would place them two decades before law enforcement in Florida began investigating Epstein for sexual exploitation of minors.
Before the additional records were released Thursday, Congressional Democrats had accused the Justice Department of illegally withholding the documents to protect the president.
“It is unconscionable, it is illegal, and [Attorney General] Pam Bondi and the president need to answer where those files are,” California Democrat Robert Garcia, D-Calif. said last week.
In a statement in January, the Department of Justice said that some investigative files in the massive tranche released would include unsubstantiated claims about Trump.
“Some of the documents contain untrue and sensationalist claims against President Trump that were submitted to the FBI right before the 2020 election. To be clear, the claims are unfounded and false, and if they have a shred of credibility, they certainly would have been weaponized against President Trump already,” the statement said.
