May 5: Fed authorizes largest rate hike in 22 years. Is Michigan’s school-funding crime-fighting plan?

Updated: May 5, 2022 / 06:35 AM CDT

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☀ Good morning! It’s Thursday May 5, 2022. Here’s a look at your news across the nation:

1️. Fed raises key rate by a half-point in bid to tame inflation

Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing, March 3, 2022 on Capitol Hill in Washington.(Tom Williams, Pool via AP, File)

2. Most voters support abortion rights; demonstrators rally

Demonstrators protest outside of the U.S. Supreme Court Tuesday, May 3, 2022 in Washington. A draft opinion suggests the U.S. Supreme Court could be poised to overturn the landmark 1973 Roe v. Wade case that legalized abortion nationwide, according to a Politico report released Monday. Whatever the outcome, the Politico report represents an extremely rare breach of the court’s secretive deliberation process, and on a case of surpassing importance. (AP Photo/Alex Brandon)

3. Man who allegedly attacked Dave Chappelle arrested

LOS ANGELES, CA – SEPTEMBER 25: Dave Chappelle speaks onstage at Q85: A Musical Celebration for Quincy Jones at the Microsoft Theatre on September 25, 2018 in Los Angeles, California. (Photo by Kevin Winter/Getty Images)

4. Is Michigan’s school-funding plan also a crime-fighting plan?

SCHOOLCRAFT, MI – AUGUST 30: Students return for the first day of the school year at Schoolcraft Elementary on August 30, 2021 in Schoolcraft, Michigan. The Schoolcraft Community School district, like many school districts throughout the country are adapting to mask mandates for teachers and students due to the current surge of Covid-19 cases. (Photo by Matthew Hatcher/Getty Images)

📱 [Trending] this morning

Intuit to pay $141M settlement over ‘free’ TurboTax ads

The company behind the TurboTax tax-filing program will pay $141 million to customers across the United States who were deceived by misleading promises of free tax-filing services, New York’s attorney general announced.

SAN FRANCISCO, CA – FEBRUARY 22: Turbo Tax is displayed on devices on February 22, 2018 in San Francisco, California. (Photo by Kimberly White/Getty Images for TurboTax)

📅 What we’re watching

🔴 Contraception could be threatened next if Roe v. Wade is overturned.

🔴 The teen suspect charged in the death of Wisconsin 10-year-old Lily Peters is due in court today.

🔴 It’s Cinco de Mayo! The yearly celebration commemorates the Mexican Army’s victory over French forces at the Battle of Puebla on May 5, 1862.

💻📲 We’ll bring you 🔴 LIVE news updates throughout the day on the NewsNation Now app and NewsNationNow.com.

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