Stormy weather and rising rates

Storms embedded with tornadoes raced across Wisconsin Wednesday causing damage from the north woods to the Illinois border

• Tornado warnings were active from before 4 p.m. until 7:30 p.m. A large tornado touched down just off of I-90 near Tomah and Oakdale and there were reports of tornadoes throughout the state as the storms moved east.

• Mauston, in western Wisconsin, was hit hard early in the storm. “There is most definitely tornado damage here in Mauston,” the city of Mauston posted on its Facebook page.

• The storms held together for more than 3 hours, hitting Green Bay hard. Just after 7 p.m. Green Bay police and fire departments asked residents not to travel in the city as they dealt with the storm's aftermath. As the storm moved into the Milwaukee area, the greatest threat was flooding as it was dropping up to two inches of rain an hour. The National Weather Service issued a flash flood warning for portions of Waukesha, Washington, Ozaukee, Sheboygan, Fond du Lac, Dane, Rock, Dodge and Jefferson counties.

• To cap off the very long day of unstable weather, the National Weather Service extended the tornado watch in the Milwaukee area from 10 p.m. to 1a.m.

The Fed aggressively raises its key rate to fight inflation

• The Fed raised its key short-term interest rates by three quarters of a percentage point Wednesday – its largest hike since 1994 – to a range of 1.5% to 1.75. It also downgraded its economic forecast. It also signaled that more big moves may be coming. Fed officials forecast the federal funds rate will end 2022 at a range of 3.25% to 3.5%, according to their median estimate. That suggests officials are tentatively planning another three-quarters point increase in July and a half point rise in September before throttling back to more typical quarter-point increases the rest of the year.

• The Fed’s hike Wednesday and its new projections are expected to ripple through the economy, sharply pushing up rates for credit cards, home equity lines of credit and mortgages, among other loans. Fixed, 30-year mortgages already have climbed to 5.23% from 3.22% early this year on the expectation of significant Fed moves.

Former Supreme Court Justice Michael Gableman should face discipline after 'misogynistic' comments, judge orders

• Former Supreme Court Justice Michael Gableman could face discipline from state officials who oversee the conduct of attorneys after he berated a Dane County judge and a female attorney in a Friday court hearing while refusing to answer their questions about his handling of public records requests. Dane County Circuit Judge Frank Remington issued a scathing rebuke Wednesday of Gableman's behavior in his order to fine Gableman $2,000 per day until he proves to the court and attorneys representing liberal group American Oversight that he has produced all records the group has requested related to his taxpayer-funded review of the 2020 election.

• In a series of statements to an attorney representing Assembly Speaker Robin Vos in the lawsuit, Gableman said Remington was American Oversight attorney Christa Westerberg "with a beard" and impersonated Remington suggesting Westerberg come back to his chambers — comments Remington characterized as "sophomoric innuendo" and "misogynistic."

• "Gableman's conduct was an affront to the judicial process and an insult to Atty. Westerberg, by their very suggestion that she is not capable of litigating without the help of the judge," Remington wrote. "The sophomoric innuendo about Atty. Westerberg coming back to chambers is a sad reminder that in 2022, woman lawyers still have to do more than be excellent at their job."

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The Money

DOWNER: A four-story apartment building is being proposed for a site near the Downer Avenue business district on Milwaukee's east side.

SOLAR POWER: Alliant Energy is about to begin construction on six new solar projects in central Wisconsin that will generate enough electricity to power about 100,000 homes annually once completed. The projects are Albany Solar in Green County; Beaver Dam Solar in Dodge County; Cassville Solar in Grant County; Paddock Solar in Rock County; Springfield Solar in Dodge County and Wautoma Solar in Waushara County.

The Fun Stuff

SUMMERFEST: 28 must-see acts at this year's Big Gig.

THIRD WARD: Croissants, cinnamon knots and more will be sold at Bavette la Boucherie in the Third Ward as Matilda Bakehouse begins its pop-up there. Customers can buy sweet and savory pastries, coffee and espresso drinks from 7 to 10:30 a.m. Thursdays to Sundays. The pop-up will run indefinitely.

The Games

BREWERS: After inching toward the franchise record for wins by a manager for a painstakingly slow couple of weeks, Craig Counsell now stands alone in Milwaukee Brewers history. With the Brewers' 10-2 win over the New York Mets on Wednesday night at Citi Field, Counsell won his 564th game as the team’s manager, surpassing the record previously held by Phil Garner, who managed the team from 1992-99.

BUCKS: What you need to know about the Milwaukee Bucks' offseason, potential player and roster moves, the NBA draft, salary cap and more.

Today's Weather

Much, much calmer with a high of 86.

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This article originally appeared on Milwaukee Journal Sentinel: Stormy weather and rising rates