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Steve Cohen, the hedge fund billionaire who owns the New York Mets, said Wednesday that the Federal Reserve faces a tough road getting inflation down to its 2% target.

The Fed thinks its eventually going to come down to a 2% inflation rate. I think thats going to be hard, Cohen told CNBCs “Squawk Box.”

The Point72 Asset Management founder and CEO cited underemployment in the US as reason inflation will remain stubbornly high, arguing a lack of workers could create upward pressure on inflation if economic growth remains strong.

If growth is too fast, then you start getting constraints on labor and wages go up, and that may be a problem,” he added. “Were in one of these problems where I dont think many people know exactly what is going to happen.”

Despite his skepticism about inflation hitting 2% — a figure the US economy hasn’t seen in more than a decade — Cohen said, “I think inflations been somewhat contained.”

“I think ultimately it will come down to: is that a true statement or not, Cohen — also the chairman and CEO of the New York Mets — told CNBC.

Representatives for Point72 declined The Post’s request for comment.

Per the latest Consumer Price Index which tracks changes in the costs of everyday goods and services  US inflation rose a stiffer-than-expected 3.2% in February.

Yet another yearly increase in consumer prices means that the CPI reading has yet to drop on a yearly basis since President Joe Bidens term began in January 2021.

The closest the economy has gotten to a yearly decrease since Biden took office was in July 2022, when the inflation rate remain unchanged, at a sky-high 8.5%.

On a monthly basis, prices also edged 0.4% in February, driven primarily by the indexes for shelter and gasoline, which contributed to more than 60% of the advance, the Bureau of Labor Statistics reported.

Despite remaining elevated, February’s CPI marks a stark slowdown from inflation’s peak at a staggering 9.1% in June 2022, which prompted Fed officials to begin a rate-hiking campaign that lifted the benchmark federal funds rate 11 times in 2022 and 2023, landing on its current 22-year high, between 5.25% and 5.5%, in July 2023.

March’s CPI reading is set to be released on April 10.

Wall Street is widely hoping for a figure that shows a month-over-month slowdown in inflation as it would prompt central bankers to make the first of three anticipated rate cuts this year sooner rather than later.

Separately on Wednesday, Fed Chair Jerome Powell reiterated that the US central bank has time to deliberate over its first interest rate cut given the strength of the economy and recent high inflation readings.

“Recent readings on both job gains and inflation have come in higher than expected,” Powell said in remarks prepared for delivery at the Stanford Graduate School of Business.

“Recent data do not, however, materially change the overall picture, which continues to be one of solid growth, a strong but rebalancing labor market, and inflation moving down toward 2% on a sometimes bumpy path.”

“Given the strength of the economy and progress on inflation so far, we have time to let the incoming data guide our decisions on policy,” Powell said, with decisions made “meeting by meeting.”

“If the economy evolves broadly as we expect,” Powell said, he and his Fed colleagues largely agree that a lower policy interest rate will be appropriate “at some point this year.”

But that will only happen once policymakers “have greater confidence that inflation is moving sustainably down” to the central bank’s 2% target, Powell said — also a repeat of language the Fed has adopted of late to reflect its effort to balance the risks of cutting interest rates before inflation is truly controlled with the risks of suppressing economic activity more than is needed.

With Post wires

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Ransacked and looted: Sky reporter returns to family home left in ruins after war in Sudan

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Ransacked and looted: Sky reporter returns to family home left in ruins after war in Sudan

The biggest city in the Sahel has been ransacked and left in ruins.

War erupted in Sudan’s capital Khartoum in April 2023 and sent millions searching for safety.

The city was quickly captured by the paramilitary Rapid Support Forces (RSF) after a power struggle with the Sudanese Armed Forces (SAF) for total control.

At least 61,000 people were killed from the fighting and siege conditions in Khartoum state alone.

Thousands more were maimed and many remain missing.

The RSF fled Khartoum’s neighbourhoods in caravans carrying the city’s looted treasures as the army closed in and recaptured it after two years of occupation.

The empty streets they left behind are lined with charred, bullet-ridden buildings and robbed store fronts.

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The once shiny skyscrapers built along the confluence of the River Nile are now husks of blackened steel.

The neighbourhoods are skeletal. Generational homes are deserted and hollow.

Damage around Khartoum
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Damage from fighting around Khartoum

Damage around Khartoum

Trenches snake the streets where copper electric cables were ripped out of the ground and pulled out of lampposts now overridden with weeds.

The majority of the 13 million people displaced by this war fled Khartoum. Many left in a rush, assuming it would only take a few weeks for peace to be restored.

My parents were among those millions and in the midst of the abandoned, looted homes is the house where I grew up.

Yousra Elbagir's family home was left in ruins by RSF troops
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Yousra Elbagir’s family home was left in ruins by RSF troops

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Yousra said it was likely a bomb had previously fallen nearby and shaken the house at its base

A shell of a home

I have to strain my eyes to see the turn to my house. All the usual markers are gone. There are no gatherings of young people drinking coffee with tea ladies in the leafy shade – just gaping billboard frames that once held up advertisements behind cars of courting couples parked by the Nile.

Our garden is both overgrown and dried to death.

The mango, lemon and jasmine trees carefully planted by my mother and brother have withered.

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Image:
Structural damage to the outside of the home

The Bougainvillea has reached over the pathway and blocked off the main entrance. We go through the small black side door.

Our family car is no longer in the garage, forcing us to walk around it.

It was stolen shortly after my parents evacuated.

The two chairs my mum and dad would sit at the centre of the front lawn are still there, but surrounded by thorny weeds and twisted, bleached vines.

Yousra Elbagir's family home in Khartoum before RSF's takeover of the city
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How the home looked before Sudan’s war

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And how it looks now

The neighbour’s once lush garden is barren too.

Their tall palm trees at the front of the house have been beheaded – rounding off into a greyish stump instead of lush fronds.

Read more:
How recaptured palace is a significant sign of return to order
Sudan’s paramilitary chief announces rival government

Everyone in Khartoum is coming back to a game of Russian roulette. Searching out their houses to confirm suspicions of whether it was blasted, burned or punctured with bullets.

Many homes were looted and bruised by nearby combat but some are still standing. Others have been completely destroyed.

Yousra Elbagir's family home in Khartoum before RSF's takeover of the city
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How the home looked before the war

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Image:
And how it looks now

The outside of our house looks smooth from the street but has a crack in the base of the front wall visible from up close.

It is likely a bomb fell nearby and shook the house at its base – a reminder of the airstrikes and shelling that my parents and their neighbours fled.

Inside, the damage is choking.

Most of the furniture has been taken except a few lone couches.

The carpets and curtains have been stripped. The electrical panels and wiring pulled out. The appliances, dishes, glasses and spices snatched from the kitchens.

Yousra Elbagir shows her mother pictures found in the home
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Yousra shows her mother pictures found in the home

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The walls are bare apart from the few items they decided to spare. Ceilings have been punctured and cushions torn open in their hunt for hidden gold.

The walls are marked with the names of RSF troops that came in and out of this house like it was their own.

The home that has been the centre of our life in Sudan is a shell.

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Image:
Sudan’s war has left the country fractured

Glimmers of hope

The picture of sheer wreckage settles and signs of familiarity come into focus.

A family photo album that is 20 years old.

The rocking chair my mother cradled me and my sister in. My university certificate.

Yousra Elbagir finds her university degree certificate in the wreckage
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Yousra finds her university certificate in the wreckage

Celebratory snaps of my siblings’ weddings. Books my brother has had since the early nineties.

The painting above my bed that I have pined over during the two years – custom-made and gifted to me for my 24th birthday and signed by my family on the back.

There are signs of dirt and damage on all these items our looters discarded but it is enough.

Yousra's parents pictured at home before they fled Khartoum
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Yousra’s parents pictured at home before they fled Khartoum

Evidence of material destruction but a reminder of what we can hope will endure.

The spirit of the people that gathered to laugh, cry and break bread in these rooms.

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A portrait of Yousra Elbagir's grandmother which was damaged by RSF troops
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A portrait of Yousra’s grandmother damaged by RSF troops

The hospitality and warmth of a Sudanese home with an open door.

The community and sense of togetherness that can never truly be robbed.

What remains in our hearts and our city is a sign of what will get us through.

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Unpredictable and disruptive or canny and persistent – what exactly is Donald Trump’s foreign policy?

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Unpredictable and disruptive or canny and persistent - what exactly is Donald Trump's foreign policy?

So, after 100 days of Donald Trump the big question for me remains – does the US president have a coherent foreign policy or is he just winging it?

Let’s take his attitude to the war in Ukraine – here “inconsistent” is perhaps the best description.

Back in February, he and vice president JD Vance humiliated Ukrainian President Volodymyr Zelenskyy by shouting at him in the Oval Office.

A few days later, I spoke to Mr Zelenskyy in person when he confided to me that maybe he would have to step down if NATO could guarantee Ukraine membership – a man who perhaps sensed he could never win against a hostile Mr Trump.

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Sky News meets Zelenskyy: The key moments

Yet, fast-forward to last weekend in Rome, and an iconic picture of the two men in close conversation at the Pope’s funeral.

This time round, it is Russian President Vladimir Putin on the receiving end of the presidential anger, blaming him for the fact that “too many people are dying!”

In this photo provided by the Ukrainian Presidential Press Office, Ukraine's President Volodymyr Zelenskyy, right, and President Donald Trump, talk as they attend the funeral of Pope Francis in Vatican, Saturday, April 26, 2025.(Ukrainian Presidential Press Office via AP)
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Trump and Zelenskyy talk in the Vatican. Pic: AP

To Trump’s supporters, this is the smart negotiator, constantly repositioning himself as new information comes in, prior to pulling off a spectacular deal.

To his many detractors, it indicates a dangerous incoherence that is replicated in other key areas, including tariffs as well as his relationship with his allies in Europe and his foes in Beijing.

Trump 100: Read more
Tariffs, DOGE, diet coke: 100 days in 100 words
Trump’s awkward reckoning 100 days in

How an immigration crackdown has changed lives

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Flexible or fallible; in control or all at sea? In the fast and furious world of Donald Trump, it’s almost impossible to call.

The only constants are his unwavering self-belief, or as the man himself says: “I aim very high, and then I just keep pushing and pushing and pushing to get what I’m after.”

We shall see.

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Gaza aid worker detained after Israeli attack has been released

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Gaza aid worker detained after Israeli attack has been released

A paramedic in Gaza who was detained for more than five weeks following an Israeli attack that killed 15 aid workers has been released, the Palestinian Red Crescent Society (PRCS) said.

Asaad al Nsasrah was one of 17 aid workers who were attacked in Tel al Sultan in southern Gaza by Israeli forces on 23 March.

Asaad was one of two first responders who survived – the other 15 were killed.

He was initially thought to be missing, as his body was not among the dead. It was not until 13 April, three weeks after the attack, that Israel confirmed Asaad was alive and in Israeli detention.

The PRCS announced Asaad’s release on X and shared a video of him reuniting with colleagues.

Sky News has seen images showing Asaad, among other released Palestinians, in a grey tracksuit at al Amal Hospital in Khan Younis, where he is undergoing medical examination, according to the PRCS.

Sky News investigated how the attack on the aid workers unfolded – unearthing new evidence earlier this month contradicting Israel’s official account of what happened.

The Israeli military later released the findings of its own investigation into the incident, saying it had dismissed a deputy commander for providing an “inaccurate report”.

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How two hours of terror unfolded

The PRCS claimed the Israeli military’s investigation was “full of lies”.

Asaad’s voice can be heard in a video, initially published by the New York Times, that shows the moments leading up to the attack on the aid workers.

The video was discovered on Rifaat Radwaan’s phone, which was found on his body by rescue workers five days after the attack.

Among those killed were one UN worker, eight paramedics from the PRCS and six first responders from Civil Defence – the official fire and rescue service of Gaza’s Hamas-led government.


The Data and Forensics team is a multi-skilled unit dedicated to providing transparent journalism from Sky News. We gather, analyse and visualise data to tell data-driven stories. We combine traditional reporting skills with advanced analysis of satellite images, social media and other open source information. Through multimedia storytelling we aim to better explain the world while also showing how our journalism is done.

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