5 things to know for May 4: Atlanta shooting, Inflation, Ukraine, EVs, McDonald’s

Thousands of people are planning to line the streets of London this weekend to witness the coronation of King Charles III. The festivities, however, may be dampened by “unsettled” weather, with numerous showers and thunderstorms in the forecast, officials said.

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The suspect in the deadly shooting at an Atlanta medical facility was arrested Wednesday night inside a gated condominium complex in Cobb County, about 11 miles from the scene. One person was killed and four others were injured, three critically, after a man became agitated during a visit to Northside Medical Midtown and opened fire, police said. He was accompanied by his mother, who was not injured. Police have identified the suspect as a 24-year-old former Coast Guardsman who was discharged from active duty in January of this year. He had minimal contact with the police department before the shooting, officials said. The victim who died was identified as a CDC employee, the agency confirmed to CNN.

The Federal Reserve announced its 10th-straight interest rate hike on Wednesday as it aggressively attempts to lower inflation. The Fed raised its benchmark rate by another quarter of a point and hinted a pause could come as soon as next month. Fed Chair Jerome Powell emphasized that US banking conditions have improved since early March when the country saw some of the biggest bank failures since 2008. But the Fed expects that as a result of the banking system turmoil, credit will continue to tighten for households and businesses, which would slow the economy. 

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