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Intense rain and heavy flooding caused at least 12 Russian workers to fall into a sewer where they were swept away on Sunday, reports said. According to several reports, workers in Moscow were cleaning the sewers, when water levels began to rise as heavy rain fell. At least 12 of the workers were swept away in the sewer. "Unfortunately, three workers have died, rescue workers have brought their bodies to the surface," the Russian Civil Defense reportedly said to the Interfax news agency on Sunday. Russian reports state that five of the workers managed to climb out of the sewer on their own, and four were rescued by emergency personnel and received medical attention. A video of one of the rescues was posted on Telegram by Mash, a Russian news outlet. The bodies of the three missing workers were found later on Sunday. "First, the body of one victim was found, then two," Lyudmila Nefedova, head of the press service of the Moscow prosecutor's office, told RIA Novosti. Law … [Read more...] about Russian workers fall into sewer, are swept away by heavy rain

The Fed has raised its benchmark interest rate again by a whopping 0.75%. The Reserve Bank of India has also been forced to raise interest rates further but also take other steps. These decisions in the Monetary Policy Committee (MPC) meeting are based on what the members of the MPC see as the likely course of the economy in the months ahead. But, the trajectory of the world economy, and its likely impact on the Indian economy, is imponderable. So, Indian policymakers would face two crucial problems. First, the main uncertainty is due to Russia’s war on Ukraine and the resultant economic sanctions on Russia, as well as the zero-COVID-19 policy in China that repeatedly implements lockdowns leading to global supply bottlenecks. Second, policy has to base itself on data. If it is deficient, it introduces additional uncertainty, making projections for the future difficult and causing policies to fail. This will compound the problem that results from the global uncertainty. … [Read more...] about Macrovariable projections in uncertain times

By ZEKE MILLER, ERIC TUCKER and MICHAEL BALSAMO WASHINGTON (AP) — The FBI’s unprecedented search of former President Donald Trump’s Florida residence ricocheted around government, politics and a polarized country Tuesday along with questions as to why the Justice Department — notably cautious under Attorney General Merrick Garland — decided to take such a drastic step. Answers weren’t quickly forthcoming. Agents on Monday searched Trump’s Mar-a-Lago estate, which is also a private club, as part of a federal investigation into whether the former president took classified records from the White House to his Florida residence, people familiar with the matter said. It marked a a dramatic escalation of law enforcement scrutiny of Trump, who faces an array of inquiries tied to his conduct in the waning days of his administration. From echoes of Watergate to the more immediate House probe of the Jan. 6 Capitol insurrection, Washington, a city used to sleepy Augusts, reeled from … [Read more...] about FBI’s search of Trump’s Florida estate: Why now?