Execution of Charlotte County killer James Ford set for tonightCitywide burn ban in effect for North Port
Execution of Charlotte County killer James Ford set for tonight A convicted killer on death row since 1999 is scheduled to be executed tonight for the murder of a couple in Charlotte County.
NORTH PORT Citywide burn ban in effect for North Port The North Port Fire Rescue has enacted a citywide outdoor burn ban due to extreme drought conditions and an increased wildfire threat.
cape coral Minor hospitalized with gunshot wound; Cape Coral police investigate The Cape Coral Police Department is actively investigating a scene located on Skyline Boulevard.
the weather authority Near-record heat with isolated rain this Thursday afternoon The Weather Authority is tracking near-record heat this Thursday, along with isolated rain throughout the afternoon.
Lee County School District sets town hall meeting Spring schedule The Lee County School District has released its Spring town hall schedule, during which parents and community members can voice their opinions regarding their children’s education.
SANIBEL Sanibel teen gearing up to reopen popular food truck The Sanibel Sprout, a beloved local spot, is gearing up for a hopeful reopening in mid-March after two years of rebuilding.
FORT MYERS Man arrested for prowling and enticing a child in Fort Myers A concerned citizen flagged down Florida Highway Patrol state troopers in Fort Myers to report an adult man was harassing his daughter, according to authorities.
PORT CHARLOTTE Port Charlotte Girl Scout earns Gold Award for pet care project A Port Charlotte teenager has earned the prestigious Gold Girl Scout Award.
FORT MYERS Fort Myers couple’s love grows stronger despite Alzheimer’s diagnosis Jeff and Bunny Edwards of Fort Myers celebrated their 41st anniversary, showcasing a love that has grown stronger over the years.
BONITA SPRINGS Harry Chapin Food Bank volunteers deliver food and a smile Food distributions seem so simple but go a long way in changing people’s lives. In Southwest Florida, the need for food is everywhere.
NAPLES Naples man arrested for cocaine trafficking A Naples man is facing a narcotics trafficking charge after deputies say he pitched cocaine out of his vehicle while trying to elude deputies.
SANIBEL Sanibel’s new rangers educate cyclists on path rules and e-bike limits Sanibel is a popular destination for biking enthusiasts, especially during the busy winter season. With over 26 miles of paved paths, the island offers stunning scenery for cyclists.
Cape Coral residents voice concerns over rental noise and rule-breaking Cape Coral is once again buzzing with discussions on short-term rentals.
Exclusive: Collier County law enforcement using tech to fight traffic congestion Naples is turning to technology to tackle traffic troubles.
FORT MYERS Fort Myers charity loses donation pod after complaint from local realtor Doug Miller and Amy Eldridge watched as their storage pod was towed away, marking the end of an era for their charitable efforts.
Execution of Charlotte County killer James Ford set for tonight A convicted killer on death row since 1999 is scheduled to be executed tonight for the murder of a couple in Charlotte County.
NORTH PORT Citywide burn ban in effect for North Port The North Port Fire Rescue has enacted a citywide outdoor burn ban due to extreme drought conditions and an increased wildfire threat.
cape coral Minor hospitalized with gunshot wound; Cape Coral police investigate The Cape Coral Police Department is actively investigating a scene located on Skyline Boulevard.
the weather authority Near-record heat with isolated rain this Thursday afternoon The Weather Authority is tracking near-record heat this Thursday, along with isolated rain throughout the afternoon.
Lee County School District sets town hall meeting Spring schedule The Lee County School District has released its Spring town hall schedule, during which parents and community members can voice their opinions regarding their children’s education.
SANIBEL Sanibel teen gearing up to reopen popular food truck The Sanibel Sprout, a beloved local spot, is gearing up for a hopeful reopening in mid-March after two years of rebuilding.
FORT MYERS Man arrested for prowling and enticing a child in Fort Myers A concerned citizen flagged down Florida Highway Patrol state troopers in Fort Myers to report an adult man was harassing his daughter, according to authorities.
PORT CHARLOTTE Port Charlotte Girl Scout earns Gold Award for pet care project A Port Charlotte teenager has earned the prestigious Gold Girl Scout Award.
FORT MYERS Fort Myers couple’s love grows stronger despite Alzheimer’s diagnosis Jeff and Bunny Edwards of Fort Myers celebrated their 41st anniversary, showcasing a love that has grown stronger over the years.
BONITA SPRINGS Harry Chapin Food Bank volunteers deliver food and a smile Food distributions seem so simple but go a long way in changing people’s lives. In Southwest Florida, the need for food is everywhere.
NAPLES Naples man arrested for cocaine trafficking A Naples man is facing a narcotics trafficking charge after deputies say he pitched cocaine out of his vehicle while trying to elude deputies.
SANIBEL Sanibel’s new rangers educate cyclists on path rules and e-bike limits Sanibel is a popular destination for biking enthusiasts, especially during the busy winter season. With over 26 miles of paved paths, the island offers stunning scenery for cyclists.
Cape Coral residents voice concerns over rental noise and rule-breaking Cape Coral is once again buzzing with discussions on short-term rentals.
Exclusive: Collier County law enforcement using tech to fight traffic congestion Naples is turning to technology to tackle traffic troubles.
FORT MYERS Fort Myers charity loses donation pod after complaint from local realtor Doug Miller and Amy Eldridge watched as their storage pod was towed away, marking the end of an era for their charitable efforts.
Federal Reserve Board Chairman Jerome Powell listens during his re-nominations hearing before the Senate Banking, Housing and Urban Affairs Committee, Tuesday, Jan. 11, 2022, on Capitol Hill in Washington. (Brendan Smialowski/Pool via AP) The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation. With high inflation squeezing consumers and businesses and unemployment falling steadily, the Fed also said it would phase out its monthly bond purchases, which have been intended to lower longer-term rates, in March. In a statement issued after its latest policy meeting, the Fed it “expects it will soon be appropriate” to raise rates.Though the statement didn’t specifically mention March, half the Fed’s policymakers have expressed a willingness to raise rates by then, including some members who have long favored low rates to support hiring. Speaking at a news conference, Chair Jerome Powell expressed his view, as he has before, that controlling inflation is vital to a strong job market. “We believe that the best thing we can do to support continued labor market gains,” Powell said, “is to promote a long expansion, and that will require price stability.” The Fed on Wednesday also set out principles it will follow once it decides to reduce its nearly $9 trillion in bond holdings, a sum that has more than doubled since the pandemic struck nearly two years ago. Some analysts expect the Fed to begin doing so as soon as July, a move that would contribute to tighter credit. The central bank’s actions are sure to make a wide range of borrowing — from mortgages and credit cards to auto loans and corporate credit — costlier over time. Those higher borrowing costs, in turn, could slow consumer spending and hiring. The gravest risk is that the Fed’s abandonment of low rates could trigger another recession. The central bank’s latest policy statement follows dizzying gyrations in the stock market as investors have been gripped by fear and uncertainty over just how fast and far the Fed will go to reverse its low-rate policies, which have nurtured the economy and the markets for years. The broad S&P 500 index fell nearly 10% this month before rebounding slightly Wednesday. High inflation has also become a serious political threat to President Joe Biden and congressional Democrats, with Republicans pointing to rising prices as one of their principal lines of attack as they look toward the November elections. Yet Biden said last week that it was “appropriate” for Powell to adjust the Fed’s policies. And congressional Republicans have endorsed Powell’s plans to raise rates, providing the Fed with rare bipartisan support for tightening credit. The Fed’s bond purchases have been intended to reduce longer-term interest rates to spur borrowing and spending. Many investors also saw the bond buying as helping fuel stock market gains by pouring cash into the financial system. Earlier this month, minutes of the Fed’s December meeting revealed that the central bank was considering reducing its bond holdings by not replacing bonds that mature — a more aggressive step than merely ending its purchases. The impact of the reducing the Fed’s bond stockpile isn’t well known. But the last time that the Fed raised rates and reduced its balance sheet simultaneously was in 2018. The S&P 500 stock index fell 20% in three months. By not replacing some of its bond holdings, the Fed in effect reduces demand for Treasuries. This raises their yields and makes borrowing more expensive Some analysts have said they aren’t sure how big the impact on interest rates will be or how much the Fed will rely on reducing its balance sheet to affect interest rates. All of which means the Powell Fed faces a delicate and even risky balancing act. If the stock market is engulfed by more chaotic declines, economists say, the Fed might decide to delay some of its credit-tightening plans. Modest drops in share prices, though, won’t likely affect the Fed’s thinking. Some economists have expressed concern that the Fed is already moving too late to combat high inflation. Others say they worry that the Fed may act too aggressively. They argue that numerous rate hikes could unnecessarily slow hiring. In this view, high prices mostly reflect snarled supply chains that the Fed’s rate hikes are powerless to cure. This week’s Fed meeting comes against the backdrop of not only high inflation — consumer prices have surged 7% in the past year, the fastest pace in nearly four decades — but also an economy gripped by another wave of COVID-19 infections. Powell has acknowledged that he failed to foresee the persistence of high inflation, having long expressed the belief that it would prove temporary. The inflation spike has broadened to areas beyond those that were affected by supply shortages — to apartment rents, for example — which suggests it could endure even after goods and parts flow more freely.