NPR News: 12-18-2024 3AM EST

Summary

NPR News Now: December 18, 2024

Released: December 18, 2024
Host: Shea Stevens
Source: NPR

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1. Federal Reserve Signals Possible Interest Rate Cuts

Shea Stevens opens the episode by discussing the Federal Reserve's anticipated move to lower interest rates. According to NPR's Scott Horsley, the Fed is expected to reduce its benchmark interest rate by a quarter percentage point at the conclusion of their two-day meeting ([00:20]).

Scott Horsley elaborates:

"Markets are betting that the Federal Reserve will cut its benchmark interest rate by another quarter percentage point. The central bank has already lowered rates by three quarters of a point since September." ([00:37])

This adjustment aims to make borrowing cheaper for consumers and businesses, potentially stimulating the economy. However, Horsley notes a shift in the Fed's outlook:

"On average, policymakers had expected to lower rates by another full percentage point in 2025 when they last issued a forecast back in September. That forecast for cuts could be dialed back a bit today since inflation in recent months has proven stickier than expected." ([00:37])

The Fed officials will also provide insights into their projections for interest rates in the coming year, reflecting a more cautious approach due to persistent inflation concerns.

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2. Congressional Proposal to Prevent Government Shutdown

Shea Stevens reports on a critical development in federal budgeting. Congressional negotiators have unveiled a proposal aimed at keeping federal agencies funded through mid-March, thereby averting a partial government shutdown ([01:16]).

This proposal is currently under consideration and, if approved, would ensure continued operations of federal services and prevent disruptions that could impact millions of Americans.

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3. Expanded Indictment in UnitedHealthc CEO's Murder Case

In a significant legal update, a New York grand jury has expanded the indictment of 26-year-old Luigi Mangione in connection with the December 4th murder of UnitedHealthc CEO, Brian Thompson ([01:16]).

Samantha Max from WNYC provides details:

"He's facing first degree murder, second degree murder, criminal possession of a weapon, and then also criminal possession of a forge instrument for allegedly having a fake ID." ([01:41])

Moreover, certain murder charges suggest the killing was intended to further terrorism aims:

"Manhattan DA Alvin Bragg called the shooting brazen and said it was meant to cause shock and intimidation." ([01:41])

The motives behind Mangione's actions remain unclear, though questions arise regarding whether Thompson was targeted due to his role at an insurance company notorious for high claim denial rates.

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4. NCAA President Backs Federal Regulation of Gambling Industry

Shea Stevens covers the testimony of NCAA President Charlie Baker at a Senate hearing, where he expressed support for elements of the Safe Bet Act, a bill aimed at regulating the gambling industry ([02:19]).

Becky Sullivan from NPR explains:

"The Safe Bet Act was introduced this fall by Senator Richard Blumenthal of Connecticut. The bill would ban some gambling promotions, limit TV commercials and prevent bettors from using credit cards to make deposits." ([02:32])

President Baker highlighted concerns over prop bets in college sports:

"Charlie Baker said those have led to harassment of student athletes, both online and from classmates in person." ([02:32])

The hearing reflected broader concerns about the rise of sports gambling since the 2018 Supreme Court decision that legalized it, noting increases in problem gambling and bankruptcies ([03:03]).

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5. Grubhub Settles with Illinois Attorney General and FTC

In corporate news, Shea Stevens reports that Grubhub has reached a settlement with Illinois's Attorney General and the Federal Trade Commission over allegations of deceptive business practices ([03:16]).

The Chicago-based food delivery service was accused of:

• Misleading customers about delivery costs, including subscription pricing
• Listing restaurants without their consent
• Deceiving drivers regarding potential earnings

While Grubhub denies these allegations, the settlement is intended to allow the company to move forward without further litigation.

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6. WHO Launches Academy to Train Health Workers Globally

Addressing global health workforce shortages, the World Health Organization (WHO) has inaugurated a new academy funded by France. Shea Stevens introduces NPR's Gabriela Emanuel, who provides an in-depth look at this initiative ([03:16]).

Gabriela Emanuel reports:

"There are not enough healthcare workers around the world. By 2030, it's projected there will be a shortfall of 10 million health workers." ([04:00])

The WHO academy, based in Lyon, France, aims to train 3 million health workers by 2028. Tedros Adhanom Ghebreyesus, WHO Director-General, emphasized the importance of this endeavor during the opening ceremony.

Further insights from Samantha Max highlight the program's reach:

"More than 5,000 learners from 172 countries have already registered in the learning platform." ([04:23])

Emanuel adds that the academy will offer both in-person and online courses focused on lifelong learning, targeting not only frontline health workers but also managers, public health officials, and policymakers ([04:30]).

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7. Market Update: U.S. Futures and After-Hours Trading

Concluding the episode, Shea Stevens provides a brief overview of the financial markets:

"U.S. futures are flat and after-hours trading on Wall Street following Tuesday's losses on Asia Pacific market shares are mixed down a fraction in Tokyo." ([04:46])

This snapshot indicates a period of relative stability in the markets, awaiting further economic developments.

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This episode of NPR News Now delivered concise yet comprehensive coverage of critical economic decisions, ongoing legal cases, regulatory discussions, corporate settlements, global health initiatives, and market movements, ensuring listeners stay informed on pivotal national and international issues.

Transcript

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[Shea Stevens]

Live from NPR News in Washington, I'm Shea Stevens. The Federal Reserve Board is expected to lower interest rates when policymakers wrap up a two day meeting this afternoon. As NPR's Scott Horsley reports, the Fed may be more cautious about additional rate cuts next year.

[Scott Horsley]

Markets are betting that the Federal Reserve will cut its benchmark interest rate by another quarter percentage point. The central bank has already lowered rates by three quarters of a point since September. Lower rates make it less expensive to borrow money to buy a car, grow a business or carry a balance on your credit card. Fed officials will also share some guesses this afternoon about where they think interest rates are going next year. On average, policymakers had expected to lower rates by another full percentage point in 2025 when they last issued a forecast back in September. That forecast for cuts could be dialed back a bit today since inflation in recent months has proven stickier than expected. Scott Horsley, NPR News, Washington.

[Shea Stevens]

Congressional negotiators have unveiled a proposal that would keep federal agencies funded through mid March. If approved, the proposal would also avert a partial government shutdown. On Saturday, a New Yorker grand jury has expanded its indictment of 26 year old Luigi Mangione, the suspect in the December 4th slaying of UnitedHealthc CEO Brian Thompson. From member station WNYC, Samantha Max has more.

[Samantha Max]

He's facing first degree murder, second degree murder, criminal possession of a weapon, and then also criminal possession of a forge instrument for allegedly having a fake id. And something that I should note is that some of these murder charges allege that the killing was committed in furtherance of terrorism. Manhattan DA Alvin Bragg called the shooting brazen and said it was meant to cause shock and intimidation. So there's still a lot that we don't know about the shooter's motives. But there are questions about whether Thompson was targeted for his role at this major insurance company that's known for high rates of insurance claim denials.

[Shea Stevens]

Samantha Max in New York, NCAA President Charlie Baker has told a Senate hearing that he supports elements of a new bill that would place federal regulations on the gambling industry. Details from NPR's Becky Sullivan.

[Becky Sullivan]

The Safe Bet act was introduced this fall by Senator Richard Blumenthal of Connecticut. The bill would ban some gambling promotions, limit TV commercials and prevent betters from using credit cards to make deposits. And at the hearing, there was support for a ban it would place on prop bets in college sports. Charlie Baker said those have led to harassment of student athletes, both online and from classmates in person.

[Sponsor Announcement]

They basically say, look, you're my friend. I'm not looking for you to lose a game. I just need you to miss the first two free throws.

[Becky Sullivan]

Sports gambling has swept the US since a Supreme Court decision in 2018 paved the way for its legalization. Since then, problem gambling and bankruptcies have risen, too. Becky Sullivan, NPR News, Washington.

[Shea Stevens]

This is NPR News. Illinois's attorney general and the Federal Trade Commission have reached a settlement with grubhub over alleged deceptive business practices. The Chicago based online food delivery company was accused of misleading customers about delivery costs, including the price for subscriptions. Grubhub was also accused of listing restaurants without their knowledge or permission and deceiving drivers about the amount of money they could make. The company denies those allegations, but said that the settlement will allow it to move on. The World Health Organization has opened an academy funded by France. NPR's Gabriela Emanuel reports. The Leon based academy will train people around the world.

[Gabriela Emanuel]

There are not enough healthcare workers around the world. By 2030, it's projected there will be a shortfall of 10 million health workers. This new WHO academy aims to help by training 3 million health workers by 2028. The WHO director General, Tedros Adhonom Gabrielses, spoke at the opening ceremony.

[Samantha Max]

More than 5,000 learners from 172 countries have already registered in the learning platform.

[Gabriela Emanuel]

The courses will be both in person and online. The focus is lifelong learning rather than initial training. The courses are aimed at health workers as well as managers, public health officials and policymakers. Gabriela EMANUEL, NPR NEWS.

[Shea Stevens]

U.S. futures are flat and after hours trading on Wall street following Tuesday's losses on Asia Pacific market shares are mixed down a fraction in Tokyo. This is NPR News.

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