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Year: 2022

Mastermind of Navy bribery scheme captured in Venezuela after escaping house arrest in San Diego

By Josh Campbell and Mary Kay Mallonee, CNN Leonard Francis, the former military contractor known as “Fat Leonard” who orchestrated the largest corruption scandal in US Navy history, was arrested Tuesday morning by authorities in Venezuela at the request of the US Marshals Service, according to the agency. Francis is currently detained by authorities in

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Powell’s stark message: Inflation fight may cause recession

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. Speaking at a news conference, Chair Jerome Powell acknowledged what many economists have been saying for months: That the

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Powell’s stark message: Inflation fight may cause recession

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. Speaking at a news conference, Chair Jerome Powell acknowledged what many economists have been saying for months: That the

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