Kansas Municipal News
USD 503 now has four therapy dogs in schools
School administrators and instructors are often digging into their pockets to provide for students’ personal or instructional needs, but perhaps one of the biggest investments of some Parsons USD 503 staff members has been to assist with students’ emotional needs by providing a certified therapy dog in school. All but one USD 503 school building has a therapy dog thanks to the staff committed to making it happen.
Source: Parsons Sun
Vape detectors are effective deterrents in Dodge City USD 443
Vape detectors are working to curb the bad habit some students had of smoking in the boys, and girls, bathrooms. The Dodge City USD 443 Board of Education voted in favor of purchasing more of the devices for use in Dodge City Middle School and Comanche Middle School at its Jan. 9 meeting. … The detectors, which notify chosen parties via app, email, text, web console, multi-color LED or audible means whenever the vaporizer sensor is triggered, have been in Dodge City High School bathrooms for a while now and have proven successful.DCHS Principal Martha Mendoza said there were far fewer offenders this semester than in the fall semester when they were first installed.
Source: Dodge City Daily Globe
Bird Scooters may not be back in Great Bend
There is a strong likelihood that the rental Bird Scooters, once a ubiquitous site around Great Bend, may not be back this year, Great Bend Community Coordinator told the City Council Monday night. After two years, the local investor spearheading the project has opted not to re-up with the company, leaving the city scrambling.
Source: Great Bend Tribune
Mike Boehm, Lenexa’s longest-serving mayor, won’t run again
Mike Boehm, Lenexa’s longest-serving mayor, says he will not run for a sixth term later this year. During his 20 years leading the city, Boehm oversaw rapid growth and change in Lenexa, particularly the establishment of a new and centralized “downtown” area at Lenexa City Center near I-435 and West 87th Street Parkway. In a recent interview with the Post, Boehm said the city’s development over the past two decades hinged less upon his leadership and more on community support, excellent city staff and a forward-thinking vision.
Source: Shawnee Mission Post
Udall USD 463 hires new school superintendent
The USD 463 Udall Board of Education has announced the hiring of Heidi Perkins as the next superintendent. She will lead the district after the retirement of Dale Adams at the end of the 2022-23 school year. “As Mr. Dale Adams prepares to leave the district as superintendent after many years of dedicated service to our students, the USD 463 Board of Education is grateful for his ‘kids first’ contributions and wish him well in his retirement,” board president James Jirak said.
Source: Cowley CourierTraveler
City of Derby dealing with computer network disruption
On Jan. 14, the city of Derby experienced a computer network disruption. Upon discovering the issues, administrative and IT staff immediately began working with third-party computer specialists to investigate the incident. Federal law enforcement was quickly notified and the city is cooperating with those agencies while the investigation continues in an effort to determine what impact the incident had on information stored on city network systems. Staff reported the city of Derby constantly monitors network security, carries cybersecurity insurance and works with the appropriate agencies when or if there are any concerns. Currently, all public services in Derby (including core services such as police, fire response and water/wastewater utilities) remain operational.
Source: Derby Informer
10-Year Indicates Fed Is Close to Ending Rate Hike Cycle
The Federal Reserve is expected to lift interest rates again at the next FOMC meeting on Feb. 1, but the futures market is pricing in high odds that the increase will be trimmed to a relatively mild 25 basis points. Animating the softer outlook for monetary policy changes is yesterday’s encouraging news on inflation. Consumer prices fell 0.1% in December, the biggest monthly decline since the pandemic ravaged the economy. The year-over-year increase, although still elevated, continues to ease, too, slipping to 6.4% at the headline level, the lowest since Oct. 2021 and well below the recent peak of 9.0% in June 2022.
Source: Bonds Analysis & Opinion
Newton’s Old Mill survives in three centuries
The Old Mill is a Newton landmark, first starting out as a new mill in 1879. Its purpose was to process, package and ship wheat. Originally, it was called The Monarch Steam Mill. In 1886, owners were D. Hamill, Bernhard Warkentin, David Goerz, C.R. McLain, S. Lehman and Jacob Linn, who bought it and renamed it The Newton Milling and Elevator Co. It’s towered over Newton during three centuries now, and in 1973, it was just days from being demolished but was saved by Newton inventor Lloyd Smith and his wife Jackie. At the time, three-fourths of the Mansard roof had been removed.
Source: Harvey County Now
Newton school board learns about Enterprise Fleet Management program
There’s no long-term commitment for the school district if the board of education decides to utilize Enterprise Fleet Management. That’s what Brandon Scott, Enterprise Fleet Management account executive, told the board during its regular Monday night meeting at McKinley Administration Center in Newton. “The condition of our passenger and working fleet vehicles has been an issue as we have an aging fleet that is at times unreliable and requiring more maintenance,” according to agenda information given to the board as requested by USD-373 Superintendent Fred Van Ranken, Director of Human Resources and Business Services Jane Nichols, Director of Facilities/Maintenance Chris Schaeffer and Director of Transportation Sheila Zwahlen. “The information presented this evening will be in reference to a potential solution we will recommend through which we pilot leasing several passenger and working vehicles.”
Source: Harvey County Now
In an ‘unexpected’ move, KCK grocery store is closing after three decades
In a surprising move, Ball’s Sun Fresh Market in the Red Bridge Shopping Center will close. Officials with Balls Food Stores in Kansas City, Kansas, have not confirmed the closing, but store employees are telling customers the news. The landlord, Lane4 Property Group, said Friday that the closing was “unexpected” and that it would close by the end of the month. Lane4 purchased the south Kansas City neighborhood center in 2015 and then spent about $10 million to renovate it. … The closing will leave surrounding residents with few grocery store options within a five mile radius. Lane4 said they are in talks with another grocery store to take the Sun Fresh spot.
Source: KC Star Local News
Derby partnering on private street upgrades
Through some recent work on a joint fuel station project, the city, school district and Derby Recreation Commission began discussion of upgrades to some private streets in Derby that generate shared usage. As with the fuel station, a funding percentage split for the road maintenance was brought up, with the pavement rehabilitation project officially brought before the Derby City Council at its Jan. 10 meeting. … City Manager Kiel Mangus noted that as part of the discussion, the city offered to handle the pavement bidding, given its familiarity with such projects. The project will be included in the city’s 2023 pavement plan. A funding percentage split was also based on ownership, with a majority (77.7%) going to the school district with the facilities building and soccer fields located along those streets. The DRC (13.9%) and city (8.4%) would fund smaller portions of the project, which Mangus reported is estimated to cost $120,000 total.
Source: Derby Informer | News
Lawrence City Commission to revisit source of income discrimination following meeting for landlords
City leaders are set to revisit a proposed ordinance Tuesday that advocates say could significantly help people in need of housing. Proposed city ordinance changes would prevent landlords from denying someone housing just because a prospective tenant’s rent money comes from assistance such as vouchers, settlements, benefits, subsidies, Veterans Affairs Supportive Housing vouchers and more. The Lawrence City Commission on Dec. 13 voiced general approval for the ordinance, which would also create a protected class based on source of income. Mayor Lisa Larsen said she was concerned about passing it without further engagement with landlords who own Lawrence properties, and commissioners delayed final approval in order to seek landlords’ feedback on the proposed tenant protections.
Source: The Lawrence Times
Garden City Police assists elementary school with Bat call
It’s the type of call that certainly seems fitting for Friday the 13th. Garden City Police were called to Abe Hubert Elementary School after a bat was found flying around inside. The department posted the incident to Facebook, stating that because they can bite and the chance of contracting rabies, the Kansas Department of Wildlife, Parks, and Tourism was called in to assist in capturing the winged mammal. The bat was successfully captured by KDWP who will determine what to do next. Garden City Police say they are “hopeful the bat will be reunited with its kind or Batman.”
Source: KSN-TV
Emporia Water Treatment plant ozone system restored; residents may continue to notice strange odor or taste through Tuesday evening
After more than 48 hours, Emporia Water Treatment Plant staff and vendors have restored the plant’s ozone system. According to City Communications Manager Christine Johnson, the system was restored Monday afternoon after crews and vendors worked over the weekend to “sync” the system. The ozone systems issues were first reported Saturday morning due to the failure of a programmable logic-controlling unit. Due to the system’s issues, the city switched to chlorine as its main disinfectant mechanism. That decision led residents to notice an odd odor or taste in their water. Johnson says the taste and odor should return to normal by Tuesday evening and continues to assure residents that water quality was not compromised and is safe to drink.
Source: KVOE Emporia Radio
Board learns of staff duties at Labette County Health Department
Tasked with promoting and protecting the health of the communities in the county, Labette County Health Department employees’ duties are vast and varied. The Labette County Commission, meeting as the board of health, this week learned all the responsibilities of Health Department personnel. Health Department Administrator Lisa Scott said most of the department staff is cross-trained, but each has a specialty area.
Source: Parsons Sun
Decoding your grocery bill after Kansas’ food sales tax cut
Groceries are slightly cheaper in Kansas following a food sales tax cut that went into effect Jan. 1, but you may still have questions about how much you’re paying. The cut lowers the sales tax rate on many food items from 6.5% to 4%. But some Kansas consumers have complained they’re still getting charged too much or have otherwise expressed confusion about the numbers on their receipts. … While the state sales tax on food was cut from 6.5% to 4%, that’s not the only tax you get charged at checkout. Shoppers still pay separate sales taxes on food to both the county and city they’re shopping in. You may also pay additional sales taxes if you are shopping in areas designated Community Improvement Districts, which are aimed at incentivizing developers.
Source: Prairie Village Post
Municipal Bond Trends for January 13, 2023
The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. Every issuer’s credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman, Beth Warren and Henry Schmidt.
Residents drive, shape Leawood’s brand of suburban luxury
Suburban luxury is Leawood’s brand, and it will continue to be so as long as its residents aim to keep it that way. The 75-year-old city began as a bedroom community of 1,000 residents who fled the bustle of Kansas City seeking the quiet of suburbia. As it evolved, the city has grown into the jewel of Johnson County with its multimillion-dollar neighborhoods and high-end storefronts to serve its population of roughly 34,700. Leawood’s terrain changed significantly when Tomahawk Creek Parkway was put in. Making room for commercial and office uses is an important addition to the city’s mix, Mayor Peggy Dunn said, but Leawood will never be a corporate town. Neighborhoods are the city’s niche. … Dunn said the city rarely grants incentives and never has used tax increment financing because other tools better fit residents’ needs. “We don’t want the public to pay to develop something,” Dunn said. “We’ve been persistent, and we’ve been consistent, and I think we’ve tried to treat everyone equally because other developers have foot the bill and paid for projects themselves. Our group of City Council and myself as mayor have wanted to just maintain that consistency.” One exception is if a project involves state incentives and structured parking.
Source: Kansas City Business Journal
JoCo Commission votes to keep new public comment rules
Rules regarding public comments instituted by new county chair Mike Kelly remain in place after Kelly’s first meeting Thursday, despite some opposition from residents and other commissioners. Several residents attended Thursday’s meeting — Kelly’s first as chair — in person to protest the new rules, which end livestreaming of public comments at commission meetings and require residents to give their comments either in person or in writing. After discussion, the commission ultimately upheld Kelly’s rules in a vote by a narrow 4-3 margin.
Source: Prairie Village Post
Guns and fentanyl at high schools is a community problem, KCK officials say
As drug overdoses and gun deaths have been increasing on both sides of the state line, they’ve spilled into area schools – prompting administrators to look for solutions. In December, a student was arrested at Wyandotte High School for possession of a loaded gun with an extended magazine and fentanyl. In November, a student was arrested at the same school for possessing 15 fentanyl pills, according to incident reports from Kansas City, Kansas Public Schools. Dr. Anna Stubblefield, the district’s superintendent, says these incidents are reflective of the world that students live in. … Stubblefield says students are young and don’t always make the best decisions. That’s why she says it’s educators’ job to hold them accountable, but they also need to help them grow and learn how to make different ones in the future.
Source: KCUR News
Hannes Zacharias (KU professor and former Kansas municipal official) featured on GovLove Podcast
Culture eats strategy. Hannes Zacharias, Professor of Practice at the University of Kansas School of Public Affairs and Administration, joined the podcast to talk about high performance organizations. He shared the traits of high performance of organizations, the importance of culture, and how to constantly improve an organization.
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Source: ELGL
Municipal Bond Trends for January 12, 2023
The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. Every issuer’s credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman, Beth Warren and Henry Schmidt.
KU researchers assert FCC map of high-speed broadband access in Kansas ‘highly inaccurate’
The Federal Communications Commission’s state-by-state map of broadband availability didn’t capture the potential of 1 million Kansans living in regions without adequate high-speed service, University of Kansas researchers said. The findings were significant because the federal government plans to distribute $42.5 billion in broadband expansion funding to states based on the FCC’s map. In November, the FCC released maps showing broadband was available across Kansas and more than three-fourths of the state’s residents had access to reliable service. The deadline for states to challenge the map is Friday.
Source: Kansas Reflector
At public meeting about wind farm rules, residents speak out against commercial wind energy projects in Douglas County
A public meeting about proposed regulations for wind farms in Douglas County became contentious Thursday evening as some members of the public spoke out against the possibility of any commercial wind energy projects coming to the county. That included some comments directed at representatives of Florida-based energy firm NextEra Energy Resources, who were present at the meeting and said the company is interested in the possibility of a future large-scale wind energy project in the county. The company has previously confirmed to the Journal-World that it’s exploring whether a wind energy project would be viable in southwest Douglas County.
Source: LJWorld
Douglas County district attorney, sheriff continue to battle over whether sheriff must produce personnel records of officers
A dispute between the Douglas County district attorney and the sheriff is continuing, with the DA issuing more subpoenas seeking testimony about the credibility of officers in the sheriff’s department. Douglas County Sheriff Jay Armbrister continues to object to those subpoenas as an overreach on the part of the district attorney. All this comes after a Douglas County District Court judge late last month declined to require Armbrister to comply with previously issued subpoenas, but also declined to cancel — or quash, in legal terms — the subpoenas. Instead, Judge Sally Pokorny urged the two elected officials to cooperate.
Source: LJWorld
GCCC recieves donation from Valley State Bank
Garden City Community College received a $30,000 donation from Valley State Bank in the form of a tax credit in December. GCCC is selling Kansas Department of Revenue tax credits to be used for the ongoing STEM Success Center project, a 10,000 square feet addition to the Warren Fouse Science and Math building for learning space dedicated to science, technology, engineering, and mathematics (STEM). With locations in Syracuse and Garden City, Valley State Bank (VSB) has been a supporter of Garden City Community College for over a decade. During this time, VSB has supported the Broncbuster Athletic Association, GCCC Endowment Association, and many GCCC programs such as welding, meat science, and the rodeo team.
Source: Greater Garden City
Muni leaders spar over disclosure, ESG
Muni leaders are airing disagreements and concerns about the Financial Data Transparency Act and other recent developments, highlighting some long-simmering tensions over how issuers disclose information to the market. The multi-pronged discussion on FDTA and other hot topics occurred Thursday at the Richard Ravitch Public Finance Initiative Launch Symposium sponsored by the Volcker Alliance and hosted by the Pew Charitable Trust in Washington. The event was anchored by a study on Sustainable State and Local Budgeting and Borrowing. The study promotes a more active role for the federal government via a carrot of paying issuers for more robust disclosure combined with a stick of congressional oversight.
Source: The Bond Buyer
Wichita continues rebate program for water-saving devices
The City of Wichita has started offering rebates again this year for residents who purchase water-saving devices and appliances, such as dishwashers and washing machines. The City Council approved the program and it was put into effect Wednesday. The program has been offered since 2013 and Public Works spokesperson Penny Feist said it has saved an estimated 466 million gallons of water over the past decade. The program is part of the city’s ongoing water conservation program to respond to drought conditions.
Source: 101.3 KFDI
Emporia seeking input on skate park project
The City of Emporia is seeking feedback on its plan to expand a local skate park. Residents are encouraged to submit their input through an online survey. “The City of Emporia is now looking at opportunities to redesign and expand on the Skate Park amenities currently located in Santa Fe Park (South Ave & West St). While this park may see some improvements, expansion at this location is not an option,” the city announced in a Facebook post. The survey, which can be found at emporiaks.gov/1470/Skate-Park-Survey, will help the city “develop a concept for future improvements at Whittier Park here in Emporia.”
Source: Emporia Gazette
Jackson County Clerk Kathy Mick announces retirement
Jackson County Clerk Kathy Mick has announced that she will retire at the end of March after serving as clerk for 30 years. Mick was first elected to the position of county clerk in 1992 and took office in January 1993. She has worked in the county clerk’s office for a total of 44 years, starting as a part-time employee during her sophomore year of high school in 1978. She worked part-time after school and then full-time during the summer months, she said. Mick graduated from Holton High School in 1981 and began working full-time at the clerk’s office shortly thereafter. At that time, her aunt, Edna Brock, was serving as the Jackson County Clerk.
Source: Holton Recorder
Small Kansas town unites to save historic house
One small Kansas town united to save a historic house in their hometown of Lincoln. The house was built in 1905 by J.W. Grubb, a former mayor of Lincoln. People say the interior is one of a kind with outstanding woodwork, newspaper insulation and more.” “It has great bones it has great woodwork, it has just a lot of character,” Director of Lincoln Co. Economic Foundation Kelly Gourley said. The house was moved about two miles outside of town because the hospital in Lincoln needed the land the house sat on.
Source: KSN-TV
Sedgwick County EMS earns reaccreditation
Sedgwick County EMS has earned reaccreditation from the Commission on Accreditation of Ambulance Services (CAAS). A news release from the county says that Sedgwick County EMS is one of more than 180 ambulance services in the country to successfully complete the voluntary review process. That review process includes a comprehensive application and on-site review by national experts in emergency medical services. Sedgwick County EMS is one of just two accredited ambulance services in the state of Kansas.
Source: KSN-TV
Art project part of Wichita’s Northwest Water Treatment Facility
The City of Wichita is seeking qualified artists for three public sculpture art commissions on the grounds of the new Northwest Water Facility. The facility is expected to be operational by the end of 2024. The artwork for the project is expected to be installed by the end of 2023. The new water treatment facility is being built near 21st North and Hoover across from the Sedgwick County Zoo. The new water treatment plant will serve the city of Wichita, surrounding communities, industries, and wholesale customers. The new plant will provide 120 million gallons per day of drinking water and will replace the aging Main Water Treatment Plant.
Source: KSN-TV
School board gets first peak into survey results
A summary of the answers to the telephone survey sponsored by the Winfield board of education to see what can be salvaged from the failed bond issue in November didn’t offer much direction. Rick Nobles of Excellence K-12, which did the survey, explained the results to the board at Monday night’s meeting. The respondents approved of pursuing secured entrances for all school buildings, FEMA-rated safety shelters for each school and working on deferred infrastructure problems.
Source: The Arkansas City Traveler
MSRB Report Reveals Significant Changes in Muni Market in 2022
The Municipal Securities Rulemaking Board (MSRB) has just released its 2022 Year-in-Review report, which reveals significant changes in the municipal bond market when compared to 2021 and prior years. Key findings include:
- Trading volume in municipal bonds soared, surpassing the previous record set in 2008 by 17% and up 66% from 2021.
- Individual investors flooded back into the market as interest rates rose, buying individual bonds and contributing to the dramatic increase in trading volume.
- Tax-exempt yields rose 160-260 basis points for the year, as inflation fears and Fed tightening drove rates in all fixed income securities higher.
- New issuance volume declined to the lowest level since 2018, with taxable and refunding deals down 57% and 65%, respectively, as higher rates made these deals less attractive to issuers.
- Tax-exempt mutual funds saw unprecedented outflows as interest rates rose, with approximately $144 billion in outflows, far outpacing outflows in the only other two years the market saw outflows from tax-exempt mutual funds.
- The market saw record inflows into tax-exempt ETFs, helping offset in part the dramatic outflows from tax-exempt mutual funds.
Read the report to learn more.
As inflation gauge falls 0.1% for the month, is it time for the Fed to declare victory on inflation? Not yet
December’s monthly decline in the consumer price index gets the Federal Reserve a step closer to beating inflation, though they’re highly unlikely to signal an easing of policy anytime soon. The key inflation gauge fell 0.1% for the month, in line with market expectations and the biggest drop since April 2020. Though the CPI for all items is still 6.5% ahead of where it was a year ago, the arc has been steadily lower — from its peak around a 9% annual rate in June 2022 to a steadily declining rate amid a sharp drop in gas prices and some serious interest rate increases from the Fed. The question now is how much more evidence policymakers will need to see before they take their foot off the brake. “If they’re doing a forecast, which is what they should be doing, it strongly argues that their rate increases should be coming to an end soon,” said Mark Zandi, chief economist at Moody’s Analytics. “There’s nothing not to like about this report. Inflation is going to come in here.”
Source: CNBC
Leawood creating wildflower haven for monarch butterflies
The city of Leawood is building a haven of wildflowers for migrating monarch butterflies. The Parks and Recreation department will plant a mix of wildflowers for the butterflies to pollinate as they pass through the region. The now-endangered butterflies are expected to migrate through Johnson County later this year, after the flowers are planted.
Source: Shawnee Mission Post
GCPD celebrating 100 years of service
One hundred years ago on Jan. 8, 1923, the Garden City Police Department was formed. On Jan. 9, 2023, GCPD held a Centennial Celebration to mark its 100th anniversary in Garden City Community College’s Pauline Joyce Fine Arts auditorium. Courtney Prewitt, GCPD Chief of Police, said 100 years is a long time and much has happened in the world since the department’s inception in 1923, including professional law enforcement. “One thing remains constant – the Garden City Police Department’s commitment to serving and protecting our community,” he said. Over the past century the department has grown and evolved, just like the city, Prewitt said. It’s adapted to the changing needs of the community and challenges that came with the change, but the department has remained “steadfast in our dedication to upholding the law and ensuring the safety and well-being of the people we serve.”
Source: Garden City Telegram
South Hutchinson City Administrator Joseph Turner makes ELGL’s Top 100 Local Government Influencers for 2022
… each year ELGL seek nominations for the Top 100 Influencers in Local Government. It is inspiring to read about these local government leaders, and we know even more superb public servants are doing incredible work across the country. … Joseph has developed a LinkedIn community aimed at helping aspiring city managers break into the field as well as supporting current managers.
Source: ELGL
KCK public school workers being trained to use Narcan for overdose emergencies
Preventative and proactive. That’s how educators in Kansas City, Kansas describe their training to use Narcan, the emergency spray that’s used to save anyone who’s overdosed on fentanyl. Fifty doses of the life-saving tool are now owned by KCK Public School administrators, 153 district employees have been trained to administer Narcan, including fellow nursing staffers and district police officers. “We want to make sure we have the necessary tools in place if we have a situation like this,” KCK Schools Police Chief Curtis Nicholson said.
Source: KSNT 27 News
Lawrence school district’s Futures Planning Committee favors 4-day weeks, closing 3 buildings
The Lawrence school district’s Futures Planning Committee on Wednesday in a preliminary vote advanced a budget scenario suggesting a four-day school week, closing two elementary schools and a middle school, and cutting a district administration position. The committee members, divided into small groups, reevaluated items in the current budget scenario, offering their own suggested changes to budget cuts in preparation for upcoming public input sessions. Each committee member was allowed to vote for two out of the seven groups’ scenarios. The scenario that won, receiving 20 votes, also includes utilizing renewable solar power — which would not save costs but would reduce emissions — and cutting two electives at each high school instead of cutting student programs. Altogether, the group’s proposed cuts would save the district an estimated $7.6 million to $9.6 million. The four-day school weeks would save an estimated $700,000.
Source: The Lawrence Times
Miami County looks for cure to voting machine hiccup
Miami County commissioners learned an additional investment would be necessary to correct a flaw in the county’s election machines that allows voters to change ballot styles — whether it be done by accident or misdeed. The county in May 2019 purchased 125 ExpressVote Tabulators for $685,220 from Election Systems & Software. Angie Frison, an ESS sales representative for the Omaha, Neb.-based company, attended the County Commission’s study session Dec. 21 to talk about a hiccup that allowed two voters to change their ballot styles in November.
Source: The Miami County Republic
Municipal Bond Trends for January 11, 2023
The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. Every issuer’s credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman, Beth Warren and Henry Schmidt.
Fed’s Collins leans toward downshifting to a quarter-point hike
Federal Reserve Bank of Boston President Susan Collins said she’s leaning toward supporting a quarter-point interest rate hike at the central bank’s next meeting ending Feb. 1 as officials near a peak in borrowing costs. Downshifting to a smaller move from the more aggressive rate increases the Fed rolled out last year would give officials more time to see how their actions are affecting the economy, Collins said Wednesday in an interview with The New York Times. The Fed raised its main rate by 50 basis points at the last meeting in mid-December, slowing down following four straight 75 basis-point increases. Inflation data due Thursday have the potential to make a quarter-point move more certain, if price gains continue to slow.
Source: The Bond Buyer
Hill’s Pet Nutrition to relocate HQ from Topeka to Overland Park
Hill’s Pet Nutrition will be shifting its global and U.S. headquarters to the greater Kansas City area later this year. An announcement from Hill’s reports that the company will be expanding in Kansas by bringing its headquarters to Aspiria Campus at 6180 Sprint Parkway in Overland Park towards the end of 2023. While the headquarters is moving, the company will continue to invest in its Topeka manufacturing hubs.
Source: fox4kc.com | FOX 4 – WDAF