The Evening: The Fed gets its slowdown

Also, a congressman from Texas was indicted over bribery.

View in browser|nytimes.com May 3, 2024 By Matthew Cullen Good evening. Here's the latest at the end of Friday. A cooling job market New flare-ups on college campuses Plus, a Pop-Tarts comedy Ella Koeze/The New York Times The job market shifted into lower gear After a winter of rapid growth in the American labor market, April's jobs numbers delivered a more mixed picture. Employers added 175,000 positions, less than economists had expected and well below the average over the last year; and the unemployment rate climbed to 3.9 percent. "We've gotten so used to jobs reports that smash expectations that it was a bit shocking this morning to see one that fell short," our economics reporter Ben Casselman told me. "But really, the slowdown shouldn't be a big surprise, and isn't particularly worrisome." Layoffs remained low and most job sectors appeared stable. Wage growth eased notably, though the unemployment rate remained under 4 percent for the 27th consecutive month — the longest stretch in more than 50 years. In fact, some economists said that the April data offered hopeful hints that the economy was headed toward a more stable footing. "Today's report was exactly what policymakers at the Federal Reserve have been hoping for: an economy that is gradually cooling but not plunging into recession," Ben said. So far, though, cooling is probably not enough to persuade the Fed to cut rates just yet. Jerome Powell, the Fed chair, said this week that policymakers would not react to small moves. Protesters at the University of Chicago today. Jamie Kelter Davis for The New York Times Campuses remain on edge The president of the University of Chicago said today that a pro-Palestinian encampment on campus "cannot continue." Next steps there are being closely watched in higher education because the school has long held itself up as a national model for free expression. In Manhattan, the police cleared pro-Palestinian encampments at New York University and the New School, arresting 56 people. In Paris, the authorities hauled away students who had occupied a building at Sciences Po, one of France's elite universities. Here's the latest. Representative Henry Cuellar of Texas. Mark Schiefelbein/Associated Press A congressman from Texas was indicted over bribery Henry Cuellar, a House Democrat from Texas, and his wife were charged with participating in a yearslong bribery scheme involving an oil and gas company owned by Azerbaijan, and a Mexican bank. Prosecutors said that payments made from 2014 to 2021 were laundered through "sham consulting contracts," front companies and shell companies owned by Cuellar's wife, who performed "little to no legitimate work" under the contracts. Churchill Downs in Louisville, Kentucky.  Audra Melton for The New York Times The Kentucky Derby returns under a cloud Tomorrow's Kentucky Derby is the 150th edition of America's most famous race. After last year's tragedies, which included the deaths of seven horses at Churchill Downs during the week of the Derby, it seems as if the horse-racing world has a lot to prove. "There's a genuine feeling that this is the inflection point, and if we don't act, it may be too late," said Lisa Lazarus, horse racing's lead regulator. Two of my colleagues spent the last year reporting on the industry. They found that reckless breeding and doping practices, and decades-long resistance to change, have put the social acceptability of one of America's oldest sports at risk. More top news Trump: Hope Hicks, Donald Trump's former press secretary, testified during Trump's Manhattan trial about the 2016 campaign panic over the "Access Hollywood" tape. Canada: Three people were charged in the killing of a Sikh leader last June in British Columbia, which Prime Minister Justin Trudeau accused India of orchestrating. Politics: Missouri and South Dakota are poised to have citizen-sponsored measures on the ballot that would allow voters to reverse strict abortion bans. Energy: Companies like Shell are expanding offshore oil and gas drilling into deeper and deeper waters, especially in the Gulf of Mexico. Britain: The Conservative Party suffered early setbacks in local elections that are seen as a barometer for its performance in a coming general election. Health: Older daters aren't taking adequate precautions against sexually transmitted infections, which are surging. Here's how to be a safer sexually active senior. Space: China launched a lander to the far side of the moon. If successful, it would be the first in history to bring back a sample. TIME TO UNWIND Jerry Seinfeld in "Unfrosted." John P. Johnson/Netflix Seinfeld's directorial debut was many years in the making When The Times interviewed Jerry Seinfeld about joke writing in 2012, he was working on a bit about Pop-Tarts that he had been thinking about for two years. Now, 12 years later, Seinfeld's directorial debut — and his first live-action lead role — is about, you guessed it, Pop-Tarts. The movie, "Unfrosted," started streaming on Netflix today. In it, Seinfeld is joined by an all-star cast of comedians to tell a largely fictional story about the invention of the fruit-filled pastries. But the real saga behind the Pop-Tart is no less interesting. The marina at the Miami International Autodrome. Wilfredo Lee/Associated Press Miami welcomes F1 with a fake marina Formula One racing, while enormously popular abroad, is still relatively new to many Americans. This weekend is just the third event ever held in Miami. The organizers have spent millions over the last few years in an attempt to make the track distinctive and enjoyable. The most eye-catching feature is a faux marina, complete with several motionless boats, that was built to convey a "Miami feel" despite being miles from the ocean. More important, the track surface is now greatly improved from its first year, when drivers were slipping and crashing. Amir Hamja/The New York Times Dinner table topics Fine headwear: Central Park's annual hat luncheon featured styles you won't find anywhere else. Which is your favorite? A quarter-century later: The actor who played Jar Jar Binks is proud of his often-criticized "Star Wars" character. Bolt-together house: A tiny cabin had no heat or toilet. But a couple bought it for $85,000. Purple everywhere: Lavender has become the springtime answer to pumpkin spice. ADVERTISEMENT WHAT TO DO THIS WEEKEND Armando Rafael for The New York Times. Cook: Canned tuna is a great complement to the punchy, briny flavors of puttanesca. Watch: These are the eight movies our critics are talking about this week. Listen: Romance is everything in Dua Lipa's new album, "Radical Optimism." Gaze: This is how to watch the Eta Aquarid meteor shower, known for its fast fireballs. Cope: Worried about your high school reunion? Here's how to survive. Organize: A good hanger will keep your closet tidy and maintain your clothes. Compete: Take this week's news quiz. Play: Here are today's Spelling Bee, Wordle and Mini Crossword. Find all of our games here. ADVERTISEMENT ONE LAST THING A still from "The Fall Guy." 87 North In this film, the stuntmen are the stars "The Fall Guy," an action-comedy-romance about a stuntman turned hero, features a pair of Hollywood heavyweights: Ryan Gosling and Emily Blunt. But the people behind the film have not been shy about who they think the real stars are: "This movie is just a giant campaign to get stunts an Oscar," said Gosling (who performed one anxiety-inducing stunt himself). So far, the academy has been mum about the prospect of a new award. But "The Fall Guy," which arrived in theaters today, is the most significant recent step in a campaign that began more than 30 years ago. Read about the effort. Have a daring weekend. Thanks for reading. I'll be back on Monday. — Matthew We welcome your feedback. Write to us at evening@nytimes.com. Writer: Matthew Cullen Editorial Director: Adam Pasick Editors: Carole Landry, Whet Moser, Justin Porter, Jonathan Wolfe Photo Editor: Brent Lewis Need help? Review our newsletter help page or contact us for assistance. You received this email because you signed up for The Evening from The New York Times. To stop receiving The Evening, unsubscribe. 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