News of the Day: Late Edition
President Bush made his first comments in response to a letter received from Iranian President Mahmoud Ahmadinejad, saying the letter doesn’t answer the crucial question of Iran’s nuclear ambitions.
The Federal Reserve raised a key interest rate ¼ of a point to 5%. It is the 16th straight raise, making the rate the highest it has been in 5 years. Fed Chairman Ben Bernanke said the future could see further raises, if necessary to check inflation.
The Duke Cunningham congressional corruption scandal is reportedly even more far-ranging than what has been exposed thus far, according to Rick Gwin, regional head of the Defense Criminal Investigative Service. Gwin also reports that even from jail, where Cunningham is serving an 8-year sentence, the former congressman is not being entirely cooperative with investigators.
Israel agreed Wednesday to resume some aid payments to the Palestinians, accepting a decision brokered by the “Quartet” of international mediators: the U.S., Russia, the European Union, and the United Nations. The plan is expected to effectively bypass the Hamas-dominated government and instead channel money through Palestinian Authority President Mahmoud Abbas.
U.N. humanitarian chief Jan Egeland announced Wednesday that he was “very positively surprised” by negotiations with Sudanese officials over the crisis in Darfur. While the security situation for displaced refugees remains critical, the government appears closer to disarming rebel groups in the region and possibly opening the door for a U.N. mission in the country. Oh George Clooney, is there nothing you can’t accomplish?
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