longisland

The Federal Reserve decided to pause its rate-hiking campaign to see how the economy responds. 

Brooklyn

BK | Weather

RTBXBKWeather12032023JSeawright530pm_2023-12-03-19-52-55

Let's bring Julian back. I love that. You said the rain is going away. What's it gonna look like the rest of the week? Well, exactly. We're looking at much more drier conditions as we start off the work week and taking a look at just where the rain is. As of right now, as I mentioned, it's gonna be pretty much out of here for the city. Might have a couple of drizzles, but we're not looking at much shower activity as we get into the rest of our Sunday nights and heading into our Monday morning, cloudy, foggy. But overall, again, staying on the dry side as we get into the rest of tonight and the good news is, it wasn't a wash out across the city, less than a half of an inch of rain has fallen throughout the Bronx and throughout much of New York City, which is good news. So it wasn't a whole lot of a wash out for us throughout much of our Sunday. But again, we are gonna be monitoring the visibility to be a bit of an issue as we get into the rest of tonight. So, if you have to be traveling later into our Sunday night into our early Monday morning. We are looking for some fog to take place which would be bringing our visibility to around four miles or on a lower end as we get into the overnight. But once we start our Monday, we are looking for that to improve for us as guys will begin to clear as well by sunrise. So overnight, we are looking for some areas of fog, it's gonna be dry especially after 10 p.m. And then we're looking for the clouds to start to clear up as well. Heading in from midnight into our Monday morning, temperatures are gonna be steady into the fifties and then into the upper forties starting off for our Monday, but we're climbing back into the low fifties as we start things out for us. So next week, here's a look at our headlines. It's gonna be breezy but mild on Monday with forties returning by the time we get to Tuesday and fifties will rebound as we get into next weekend. Again, temperatures will be about the middle forties briefly overnight fifties for Monday, but cooling down for Tuesday and Wednesday of next week. So expect a little bit of chill in our air, but we're gonna see those clouds clearing up for us to start off for our Monday. But around lunch time, the cloud cover will build back for us and stick around until we get into the later parts of our Monday night, quick look at our 10 day forecast. Temperatures will be in the forties for the next couple of days being on the chillier side for Hanukkah. But then we're rebounding just in time for the weekend.

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Weather

New Jersey

NJ Weather Stories

Weather stories

NJ | Weather

NJFORECAST

Looks like a really fun outdoor activity for the winter. We're turning now to our forecast with meteorologist Michelle Powers, Michel, what can you tell us? I can't wait for some nice weather to enjoy those fun wintertime activities because today was not the day for that in the proving conditions for tomorrow. And then this week as a whole is going to feel much colder, but we have some drier weather on the way. In fact, it's looking a lot drier. There are some changes for Tuesday and Wednesday. So what is next? Like I said, dry? All this starts to clear tomorrow looks good. Tuesday looks even better. Now, now there's going to be a system another storm developing. But model guidance today is really showing this thing developing a bit too far away for us to see any impacts. I know there's been talk about rain a little bit of drizzle or even some snow flurries that doesn't look like we'll see very much of that develop as that will be offshore. But see the winds on the back side of that. And speaking of winds, those kick in for the day tomorrow, tomorrow is going to be a breezy day winds coming out of the west. Here's a look at that extended forecast. So we do have some nice weather this week. It's definitely improved. Maybe a Sprinkle Wednesday, but I think will be dry for that. Really? We're not looking at any rain, nothing significant until next Sunday and look how warm temperatures are. Again, we're back into the 50 days and that's a look at your local forecast.

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Westchester

WC | Weather

HVFORECAST

NC Wright, joining us on what it feels like has been a Water Law Day Julian. Absolutely. It's just been wet gloomy and just flat out dreary across the lower Hudson Valley and we're not done just yet, but it has been a nice little break for much of our afternoon and early evening to not see much shower activity. But now as we continue throughout the rest of tonight, we are gonna be seeing a couple of showers moving its way in for Ulster and for Orange counties and then we'll stretch into the rest of the lower Hudson Valley, but this is gonna be ending before about midnight for us. So the rest of the overnight, it's gonna be ending up to be rather clear and on top of it dry by the time we get into our Monday morning, now, many of us saw about a quarter to a half of an inch of rainfall over towards West Chester County saw a bit more about three quarters of an inch of rain, but overall not too much of a washout, but it has been a wet and a gloomy day across the board. Now waking up towards tomorrow, here's what we need to know. We're gonna be drying out. It's gonna mild, but we do have some breezy conditions and temperatures into the middle forties. And for school day forecasts in the morning, lower forties will be sticking around but also near the middle forties as well as we get kids, kiddos off into the school bus. And then for the afternoon, we do have some sun early, but cloud cover is gonna roll into our afternoon hours as temperatures warm near the lower fifties. So walk it through our futurecast again. As I mentioned, we're gonna have one little burst left of some rain that will end before midnight. And then the overnight, it's going to be pretty dry. We're looking at clearing skies and it's gonna start that way for our Monday morning heading into Monday afternoon around lunchtime. We're expecting some clouds to roll its way in but temperatures near Yonkers and White plains will climb near the upper forties and even near the 50 degree mark as begins for the rest of our afternoon around dinner time, some of those clouds will start to clear up near Westchester and Rockland counties further north though between Orange Putnam and Fort Dutchess County still holding on to some cloud cover. So we get into the rest of our Monday night clearing up for Tuesday, not expecting much more for rain totals in the much of the lower Hudson Valley could potentially see maybe 1/10 of an inch, but overall not gonna be seeing any more than that next week, it will be breezy and mild for Monday for return for Tuesday. And next weekend we are looking for the fifties as well with rain chances for our Sunday. Quick look at our 10 day forecast. It will be cold for the middle part of the week and then back to the fifties for Saturday and rain for Sunday. All right. Thank you so much Julie.

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Hudson Valley

HV | Weather

Long Island

LI | Weather

RTLIWeather12032023JSeawright5pm_2023-12-03-19-50-18

Let's talk important weather information. Right now. We're over here in the weather center with meteorologist Julian C Wright. And it is a wet day for just about everybody across the island. Absolutely. So it's been a good day if you just wanted to stay indoors and I had to go outside because it has been flat out just wet and gloomy for us and it's gonna be wet at least for the east end until we get into the later parts of this evening. But as of right now, we are looking for that rain to be clearing out for much of Nassau County. So counting still gonna be dealing with it for the next couple of hours. But as we move into what we can expect for the rest of this evening, heading into tonight, just notes, it's not just the rain, it's gonna be a bit of an issue, but visibility as well as fog is gonna be really popping up for us throughout much of the island, not just for now, but later into the night and over into Monday morning as well. So be prepared for some lowered visibility behind the rain that is going to be clearing out for us. But the the news is our skies will clear up heading into our Monday morning. So we are looking for a sunny start, but temperatures themselves are also gonna be on the mild end. We're looking back to the lower fifties and not expecting much more in regards to rain being uh any kind of accumulation as we get into the rest of tonight. Now take a look at our overlook our overnight outlook. We are seeing temperatures into the lower forties, mid forties throughout much of the island. Heading into Monday. Low fifties is what we're expected for. Our daytime, high clouds will build late. And then for Tuesday, Wednesday, we're gonna be cooling right back down as forties will return, bringing a chill to our week, but then we're gonna rebound to the fifties next weekend. So that's one thing to be mindful of is that it's not gonna be chilly for too long. But again, heading into tomorrow, we are gonna be looking at the cloud cover to build into our Monday afternoon. Quick look at our 10 day forecast, chilly weather will be heading in for us, especially for Hanukkah.

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Bronx

BX | Weather

Connecticut

CT | Weather

CTFORECAST

Stanford tonight as we joined now by meteorologist Michelle Powers, Michelle, what can you tell us what we're still looking at the conditions outside. There's some fog, a little bit of rain on the way before we get to the morning. But by the time the sun rises in the morning, the weather will improve temperatures to start will be milder, it'll be dry. So I don't foresee any incidents or anything major due to the weather. Now, what to wear, you definitely want something warmer for the morning. Temperatures will be milder to start in the forties but still grab a jacket layer it up. And by the afternoon it's going to feel a little bit warmer. More clouds coming in during the afternoon but staying dry, not so dry right now, we're not there yet. The west winds haven't come in yet, but eventually they will and then temperatures are not as the new week starts with some forties and fifties, but this won't last temperatures start to cool tomorrow night. It will be a much colder, start waking up on Tuesday with thirties. Here's a look at that extended forecast going forward. Highs in the forties. Lows in the twenties, Tuesday and Wednesday, first night of Hanukkah will be colder and then temperatures go up by next weekend with a chance of rain.

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0626BeWellMartyMoneyInterestRates_2023-06-26-09-35-36

Money with Marty: The Fed hit pause on raising interest rates. What does that mean for your wallet?

Time now for your money with Marty. After raising interest rates 10 times in a row, the Federal Reserve decided to pause its rate hiking campaign to see how the economy responds. So the big question is, how will we all be affected? So here with the answer is Marty can CPA and economic development. And so I know you weren't surprised, this is exactly what you kind of thought, Jerome Powell and the fed was going to do. Yeah, look, the time is right to just to see how the, uh uh what their policies are impacting. Although we know that the data uh is really inconclusive at this point, there are a lot of anomalies coming out in the data. You know, the fact is that we're creating jobs, but the jobs that we're creating are really replacing the ones who have been retired. You know, we, we have the highest increase in unemployment from 3.4 to 3.7 as a percent since before, the pandemic was over 10% increase in unemployment. But on the other side, employers have increased the amount of posted jobs from 9.6 million to over 10 million about 10.1 million when they dropped 2 million over the earlier part of the year. So those inconsistencies are really causing concern with the FED. And I think it's more not so much of, let's see how the impact of our policies are, but let's try to get a trend that we can deal with. Right. And so far the trends are really inconclusive. I mean, we have CPR consumer Price index and the producer price index, which is really the wholesale prices, they're both at the same level about 5% and they keep on fluctuating up and down. So there's no steady firm data out there to say where we are, we still the FED still wants to get down to 2% benchmark for inflation. We have businesses, the net income has been dropping for the past two quarters and it's expected to go negative in, in the the second quarter of this year. Gross domestic product is dropping. So something is happening that their policies are impacting. However, the the the underpinnings when you peel away the onion skins to find out what's really going on in the economy. I think the FED is, is having has to get more data in order to make a correct uh uh a correct decision because when you take a look at that core inflation, so you take out the food, you take out the energy, it's not really cooling off quite enough. So he really, you know, General Powell really left the door open for the possibility of another rate hike at the July meeting. Oh, I definitely believe there's gonna be rate hikes and I definitely believe my thinking is that it probably go up in July. Uh, we are not, we're gonna be in this inflationary economy going into the presidential election year. The bad news for the candidates is we could, we could tip into recession and that's what he doesn't want. Right. Once, once the jobs posting come back down and businesses stop hiring, then we can go into a recession. And that's something that Powell really, really wants to avoid. Absolutely. And we know this affects everybody at home when it comes to their mortgages, when it comes to their credit cards, when it comes to their car loans. Yes. Right now, you know, home sales are, are, are decreasing and the prices are coming down however, because of the lack of inventory because people can't afford to sell a house and then buy another one because, because right now there's a lot of people sitting with 3% mortgage loans and now they'd have to be paying close to seven if they go somewhere else. So the inventory is low. Housing prices are still high, you know, and, and that's going to impact, you know, with the mortgage is food. Same thing. Get transportation. Uh, uh, the only good news is that the, uh, gasoline costs are low and the transportation costs are low to keeping food prices from skyrocketing. But let's talk about consumer spending. It doesn't, you know, it seems like people are still out there and spending money. Well, they are and that's why, I mean, we keep on talking about the, the, the 17 trillion in consumer debt in the last quarter. We keep on talking about that. Yeah, people are still spending and it's not because they have money because you've got a four percent raise, the average raises. But inflation is 5%. So, in effect, the real income that you get is zero. But people are now spending and they're using their debt. And that's the only thing that's really, uh, the economy because retail and consumerism is 70% of the economy and, and unless that gets curtailed and ratcheted back and that's what the fed wants to do, we're still gonna have this over heated economy with too many dollars chasing too few goods. But when it comes to making a budget, anybody that has those student loans, they're not going to be able to be spending money the way they were because they're going to have to start to pay those back. They're going to unpause that. Yeah, there's 43 Americans who have 43 million, 43 million Americans who have, who have student loans, uh, 20 Americans, 23 20 million Americans. I'm sorry, could be impacted by, by the pause in student loan payments, you know, and and the uh the forgiveness that the president wants to bring in. But the big news is is that 43 million people are gonna have to adjust their family budgets uh to, to accommodate repaying those student loans. And that starts in September. Right. Marty, thank you as always for always having such great information for us. 43 people, 43 people. Right.

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