Nasdaq declined. Everyone acts like this a totally by narcoticry si bianar. The fed tightened nine times and weve had a phenomenal bull run here im not saying the fed doesnt matter Jerome Powell almost drove the economy off the cliff when he was determined to raise Interest Rates. Ill be watching him like a hawk or maybe a dovish hawk when he speaks to congress however, i think far too many people are misreading the fed and more important, they are misreading the moment first, let me set the stage. Lets talk about the economy after gaining strength for the better part of a decade, the economy started losing steam last fall. The Business Cycle is a tricky thing. It can speed up or slow down for any number of reasons. We dont need to know the cost we just need to notice that a slowdown is happening. The problem late last year is that they didnt notice. They didnt notice in 2007, either something they get wrong now and then if you look back at the period since the fed started tightening,
Pay harassment and other unsafe working conditions. Were live at the fast food workers strike in san jose. But first, hayes valley residents sounding the alarm over nearby in camp that fires following yesterdays massive blaze in San Francisco. From the bay station, youre watching kron. And news. Thanks for joining us here on kron. 4 news at noon. Im noelle bellow, our top story this afternoon. The cause of the massive building fire in San Francisco still under investigation. But residents in the area say theyve been warning the city about nearby tent encampment fires for months. Kron fours Michael Thomas has the very latest. Crews have been here on the scene trying to deconstruct whats left of this construction site. Take a look at was supposed to be an Apartment Building before it burned down. And this is at the corner of oak street in octavia boulevard in San Franciscos hayes valley neighborhood and the Neighborhood Association says they fear this type of fire for months. Yesterdays
And a lot of areas so be prepared for that. As youre getting out there. Its a little mini free car youre walking into work close to coast. Your view outside at coit tower down looking grey under all that cloud cover that isnt just at the coast but has pushed well inland this morning. It is having a cooling effect this morning. A lot of areas. So not only are we going to see a grey start, but its going to be cool over the next several hours. Snow forget those jackets, 50s 60s for current temperatures. Fairly mild. So the light jacket will just fine as youre getting outside. Later today. Were going to continue this cool trend we had yesterday and are very warmest only making really the low 80s for some of our inland spots of more details on when to expect the heat to return. Still ahead, rain. All right, john, thanks that. Lets get you rolling on this wednesday morning. 11 minutes traveling into the city right now may so that fremont street exit. The meteor lights are on at the toll plaz
Were also following the latest out of Alameda County with an update to a story now about a side show ordinance that required jail time for spectators. Theyve adjusted how much time folks that ercot will be in jail and scientists have found theres a red tide spreading in the water across the bay area. Well tell you where and what you need to do about it. Good morning. Im darya and im james fletcher. 8 oclock is the time on this wednesday morning. August 2nd, thank you so much for joining us lets take a look outside. You can see its been great out there. Weve got a long way to go before we see sunshine, but we lets get the news on the weather from yeah, i got a little bit for you, but you have to head up really high to see it right now because lot of us are shrouded in that day. And, you know, this view the Mountain View where you can look out. Over that blanket of cloud cover thats rounding out the rest of us right now. It is going to take longer for us to get there for sure. Got a lot
Were. On a trip with their kids before the new school year started. His wife alexi says they went jet skiing and began heading back to the shore when a wave struck them and knocks them off. Bill drowned despite wearing a life jacket. The 37 yearold coach peewee football for Clayton Valley for 2 seasons and he coached and p to P Transformation Center in concord. Alexi says her husband was known for being extremely south. Wes and his legacy is their 3 boys. I went there with my husband, had to come go by myself my kids. Just have such an. The big by strong bond. With his kids, but make sure that. They always remember him. And that is always celebrated. The family has received emotional support from the community. There is also a gofundme page to help get bills body back in home to home in concord. And for, of course, the funeral costs more than 40,000 has been raised so far. The alleged gilgo beach serial killer appeared in a new york courtroom today for an evidence hearing. Its the firs