AFN NEWS ON THE HOUR

Thursday, June 14, 2018　

1) From ABC News, I’m Richard Cantu. Carrying around debt is getting more expensive. “No surprise from the Federal Reserve announcing that it’s raising interest rates 1/4 of a percent from 1 and 3/4 to 2%. It’s also calling for up to four rate hikes this year in total. In other words, one or two more by the end of 2018. One of the main reasons for the decision, unemployment falling to 3.8% in May to a low that we haven’t seen in nearly two decades.” ABC’s Daria Albinger.

 

2) President Trump’s personal attorney Michael Cohen is looking for new legal representation in his federal criminal case. “Michael Cohen’s attorneys have been rushing to review nearly 4 million items seized from him back in April, but now ABC News has learned those attorneys, Stephen Ryan and Todd Harrison, are not expected to represent Cohen going forward. No replacement lawyers have been named and we’re told Cohen is likely to cooperate now with federal prosecutors.” ABC’s Aaron Katersky.

 

3) Tennessee Republican Senator Bob Corker for now stymied in his bid to pass amendment requiring congressional approval for tariffs says he thinks the GOP is acting like a cult, because members fear President Trump. “Not a good place for any party that they end up with a cult-like situation as it relates to a president that happens to be of, purportedly, of the same party.” Senate Majority Whip John Cornyn, an ally of the President, said he would not dignify caucus comment with a response.

 

4) The outcome was never in doubt in any emergency session. The UN General Assembly voted to blame Israel for the violence in Gaza and rejected the U.S. call to condemn Hamas for attacks on Israel.

 

5) Antarctica is melting faster than ever. An international team of ice experts reports the frozen continent lost almost 3 trillion tons of ice since 1992 enough to cover all of Texas with nearly 13 feet of water. You’re listening to ABC News.

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From the Fox Business Network, America is taking a hike, the Federal Reserve hiking interest rates by 1/4 points for the second time this year on Wednesday. Of course, this means consumers pay more when they borrow money or use their credit cards, but still also make more money from higher savings rates. // Stocks taking ahead of word of two more hikes that are coming this year. The Dow, NASDAQ and S&P500 all closing lower. // It looks like a majority of students are planning to work once a school year is over. A new report from OppLoans finds 63% of teens and young adults already have a job lined up for the summer. Nearly half says they’ll use some money for college or living expenses. // And if you already have a job and feeling sleepy at work, __ __ __ __. Nine out of ten employers telling the National Safety Council that tired employees are having a negative effect on their business, and more than half saying they have workers actually fall asleep on the job. With the Fox Business Report, I’m Charles Payne.