Receive Breaking News updates as they occur
LOS ANGELES (AP) — A judge said Thursday he believes a group of elderly nuns improperly sold their hilltop convent to a businesswoman but delayed any efforts by church officials to finalize a competing sale to pop singer Katy Perry.
The U.S. Federal Reserve will not need to see balanced risks to the economy to proceed with an interest rate hike in September, according to former Fed officials and a review of central bank statements through recent turns in policy. In its latest statement, released Wednesday, the Fed said it continued to judge the risks to the U.S. economy as "nearly balanced," meaning it still sees a greater threat of a new downturn than it does of accelerating inflation and excessive growth. Prior to its decision to begin raising rates at that meeting, the Fed had for several months judged the risks to the economy as "roughly equal." It kept that characterization at the June meeting, and for nearly a year after that.