Hospitals were 'hours from running out of PPE' during early months of Covid, Hancock saysVANCOUVER - Bank of Canada governor Tiff Macklem says the central bank is preparing for a future that looks more uncertain and more prone to shocks. In a speech to the Greater Vancouver Board of Trade, he said Monday structural changes are underway in the world including demographic shifts, technological changes, decarbonization and a move away from globalization. “We need to use the pandemic experience to prepare for future crises,” Macklem said in a prepared text of his speech. To that end, Macklem says the Bank of Canada is working to learn what it can from how the economy reacted to the pandemic and in its aftermath. The Bank of Canada is conducting a review of the policy actions it took to restore financial stability and support the economy during the pandemic that it plans to publish along with an assessment of an independent panel of experts. Macklem said the spike in inflation in 2022 was a reminder that even though inflation was relatively low and stable for 30 years leading up to the pandemic, central banks cannot take public trust for granted. “All of a sudden, people couldn’t afford the things they need. And while inflation is low once again, many prices are still a lot higher than they were before the pandemic. So people feel ripped off. And that erodes public trust in our economic system,” he said in his speech. The Bank of Canada has cut its key policy interest rate five times this year including last week when it reduced the benchmark by a half a percentage point to 3.25 per cent. Macklem says the bank will be evaluating the need for further reductions in the policy rate one decision at a time and anticipates a more gradual approach to monetary policy if the economy evolves as expected. Statistics Canada reported last month that the annual inflation rate was two per cent in Ontario, hitting the Bank of Canada’s target. The speech by Macklem came ahead of the release of the November inflation report on Tuesday. This report by The Canadian Press was first published Dec. 16, 2024.Blaire Fleming of the San Jose State Spartans attempts to block a shot during the first set against the Air Force Falcons at Falcon Court at East Gym on October 19, 2024 in Colorado Springs, Colorado. (Andrew Wevers/Getty Images) Welcome to the Fox News Sports Huddle Newsletter. TRANS ATHLETES IN SPORTS – San Jose State University volleyball player Blaire Fleming's participation in a women's tournament came under scrutiny after an emergency hearing contested that Fleming should be excluded from competing on the basis of being a biological male . Continue reading ... ACCOLADES – Blaire Fleming was listed as a Mountain West volleyball all-conference honorable mention. The recognition comes as Fleming remains embroiled in a lawsuit concerning the athlete's biological identity. Continue reading ... 'NOT IN HOSPICE' – Legendary Bears coach Mike Ditka's wife Diana said her husband is back in Chicago, but he is not in hospice despite the troubled rumors concerning his health. Continue reading ... Head Coach Mike Ditka of the Chicago Bears on the field before a mid circa 1980's NFL football game at Soldier Field in Chicago, Illinois. Ditka was the head coach of the Bears from 1982-92. (Focus on Sport/Getty Images) NFL POWER RANKINGS – The Chiefs escaped against a bad team on the road. Running backs Saquon Barkley and Derrick Henry continue to be gamechangers for their respective teams . Here's a look at the latest Power Rankings brought to you by Fox News Digital Sports. Continue reading ... WINNERS AND LOSERS – Alabama, Ole Miss, and Texas A&M all went down this past weekend, which shook up the College Football Playoff picture. Here's a look at the college football landscape powered by Fox News Digital Sports. Continue reading ... NEW HOME – Former New York Giants quarterback Daniel Jones is set to sign a deal with the Minnesota Vikings, according to FOX Sports. Continue reading ... New York Giants quarterback Daniel Jones (8) passes the ball against the Washington Commanders during the third quarter of an NFL football game, Sunday, Nov. 3, 2024, in East Rutherford, N.J. (AP Photo/John Munson) BIG SPLASH – The reigning World Series champion Los Angeles Dodgers bolstered their roster by signing star pitcher Blake Snell to a five-year contract, according to multiple reports. Continue reading ... FROM FOX SPORTS – Each week, FOX Sports' Peter Schrager discusses the NFL's biggest storylines. The formidable challenge the Eagles' opponents contend with, Dolphins quarterback Tagovailoa's attempt at overcoming his cold-weather narrative, and the kicking woes across the league make up this week's topics. Continue reading ... FROM OUTKICK – Four-time MVP Aaron Rodgers cast doubt on his NFL future this week. If Rodgers does return in 2025, he made it clear that he prefers to play for the New York Jets. Continue reading ... WATCH NOW – Legendary Cowboys coach Jimmy Johnson shared his thoughts on the franchise's head coach, Mike McCarthy. He also discussed whether he believes Deion Sanders would be a good fit in Dallas. Watch here ... FOLLOW FOX NEWS ON SOCIAL MEDIA Facebook Instagram YouTube Twitter LinkedIn SIGN UP FOR OUR NEWSLETTERS Fox News First Fox News Opinion Fox News Lifestyle Fox News Autos Fox News Health DOWNLOAD OUR APPS Fox News Fox Business Fox Weather Fox Sports Tubi WATCH FOX NEWS ONLINE Fox News Go OUTKICK COVERAGE OutKick Sign up for OutKick's daily newsletter STREAM FOX NATION Fox Nation This article was written by Fox News staff.76ers' star Paul George sidelined the next 2 games with bone bruise in left knee
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ABC projects that Democrat Adam Gray will win the race for California's 13th Congressional District , unseating incumbent Republican John Duarte and flipping the final unresolved seat in the 2024 election. With all 435 House races projected, ABC News estimates Republicans will hold 220 seats and Democrats 215 in the 119th Congress. But it's not clear how vacancies -- or, illness or other absences -- will impact the day-to-day division of power when the House convenes on Jan. 3. President-elect Donald Trump initially tapped three House Republicans for positions in his upcoming administration: Florida Reps. Matt Gaetz and Mike Waltz, and New York Rep. Elise Stefanik. Gaetz has already resigned from Congress and withdrew last month from consideration to serve as President-elect Donald Trump's attorney general. And though he won reelection to his seat last month, he said he won't serve another term. MORE | Democrat Adam Gray projected to win California's 13th Congressional District Republicans could have a 217-215 majority while their seats are vacant -- the narrowest GOP majority in history -- and special elections to fill those seats can take months to complete. In this case, any single Republican can hold Johnson hostage: Losing just one Republican on a vote would result in a 216-216 tie. The speaker acknowledged the thin majority, which could pose a challenge in passing Trump's agenda. "Well, just like we do every day here, we've developed an expertise in that. We know how to work with a small majority. That's our custom now," Johnson said. "So, yes -- do the math. We can, we have nothing to spare. But all of our members know that we talked about that today, as we do constantly, that this is a team effort that we've got to all row in the same direction." But several elderly Democrats have missed votes recently, which could give Republicans a little more breathing room next year. In California's 13th District, Duarte conceded to Gray on Tuesday, according to the Turlock Journal. "I'm a citizen legislator, and I didn't plan on being in Congress forever," Duarte told the newspaper. "But whenever I think I can make a difference, I'll consider public service in different forms, including running for Congress again." Gray released a victory statement on X Tuesday evening, extending his gratitude and saying the "final results confirm this district is ready for independent and accountable leadership that always puts the Valley's people ahead of partisan politics." ABC News' Marilyn Heck and Benjamin Siegel contributed to this report.
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The iShares Semiconductor ETF SOXX had a rocky year. While semiconductors at large posted historic gains through 2024’s first half, they erased much of their gains in the late summer and fall. One industry analyst is optimistic about the industry’s prospects in 2025. The Semiconductor Analyst: Bank of America analyst Vivek Arya named six of his top semiconductor picks for 2025: NVIDIA Corp NVDA with a price target of $190. Broadcom Inc AVGO with a price target of $250. Marvell Technology Inc MRVL with a price target of $140. Lam Research Corp LRCX with a price target of $92. ON Semiconductor Corp ON with a price target of $90. Cadence Design Systems Inc CDNS with a price target of $365. The analyst also downgraded Microchip Technology Inc MCHP . The AI Boom: Arya cited Nvidia, Broadcom and Marvell as the leaders in AI. He says Lam Research’s capital expenditures will recover in 2025 along with the reduction of China headwinds. The analyst also thinks ON Semiconductor will recover from cyclical trends while Cadence Design will benefit from its resiliency. The analyst sees the semiconductor industry’s upcycle lasting into 2025. He noted that past bullish cycles have lasted, on average, roughly 10 quarters, while current bullishness has only lasted five quarters. Arya sees two major trends affecting the industry in 2025. “In the first half, we expect the AI investments driven by AI training and scaling of models to continue, doubling down on the Nvidia Blackwell deployment ramps driven by cloud customers,” the analyst said. “At the same time, we expect trends for non-AI end markets to remain weak throughout 1H.” Arya expects the CHIPS Act, enacted under President Joe Biden , to remain in place following the inauguration of President-elect Donald Trump . He expects all remaining funding to be dispensed in 2025. The analyst sees the automotive and industrial industries as fueling semiconductor demand in the year’s second half. “In the second half, we expect a pickup in auto/industrial semis as customer/channel inventories normalize (replenishment + easy comps), as well as a pickup in global auto production,” Arya said. The analyst projected electric vehicle sales to reaccelerate 29% year-over-year. Also Read: Elon Musk’s Tesla Nearly 5 Times More Expensive Than Industry Average: Stock Surges Over 60% Since Election Photo: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Drone sightings lead to airspace shutdown at Wright-Patterson
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