Central Bank Expected to Raise Interest Rates Wednesday

Person counting cash

The Federal Reserve is expected to raise interest rates after its meeting Wednesday to combat the country’s soaring inflation, Axios reported.

The central bank is believed to raise its target fed funds rate by a quarter percentage point from zero after the end of the two-day meeting ending Wednesday, Axios reported. The Fed’s decision will outline the bank’s monetary policy for the near future and determine whether the U.S. economy enters a recession or continues surging price hikes, according to Axios.

Inflation has soared to nearly 8% year-over-year as of February while unemployment stayed below 4%, indicating that the Fed has been behind the curve in its effort to address sustained inflation, Axios reported. Federal Reserve Chairman Jerome Powell is now reportedly tasked with fixing a delicate economy without crashing it despite a war in Ukraine and renewed COVID-19 lockdowns in China.

Read More

Economists Believe Ohio Must Do More to Help COVID-19 Recovery

A large majority of a panel of Ohio economists believes the $1 billion in spending proposed by Gov. Mike DeWine to lift the state from the COVID-19 pandemic will not be enough.

In a survey published by Scioto Analysis, a Columbus-based policy analysis organization, 20 of 23 Ohio economists believe the state needs to invest more to support small businesses, bars, restaurants, local infrastructure and residential broadband.

Read More

Economist Recommends Ohio Use Federal Stimulus to Bolster Unemployment Insurance Trust Fund

Following Ohio’s shocking unemployment rate increase of 2,565 percent, one economist says the COVID-19 coronavirus’ economic impact will be “long lasting” and provides a list of recommendations.

Read More