Kansas Municipal News
Manhattan considering a foundation to support parks and rec
City officials are considering creating a foundation to support the parks and recreation department. That was one of several solutions posed Tuesday to solve the department’s recent struggles. The Manhattan City Commission and parks and rec advisory board are looking to outside entities to increase funding for the parks and recreation department. At Tuesday’s commission meeting, they identified three possible funding sources: sponsorships, partnerships and a foundation similar to Friends of Sunset Zoo, which is an entity separate from the city government.
Source: themercury.com
Municipal Bond Trends for August 23, 2022

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 and Beth Warren.
Wichita interim police chief announces his retirement
Wichita Interim Police Chief Lem Moore said Tuesday he is retiring after serving 31 years in the police department. Moore has been serving as interim chief since March, when Gordon Ramsay stepped down to return to his home state of Minnesota. Moore is planning to retire within the next couple of weeks. He had previously expressed interest in taking over the department after Ramsay’s departure. Chief Moore recently announced disciplinary steps that were taken against several officers because of inappropriate text messages exchanged between them and a Sedgwick County deputy. Eight officers either resigned, were suspended or received reprimands after an investigation into the texts.
Source: 101.3 KFDI
Residents to consider expansion of Pottawatomie County Commission in November, following successful petition
Pottawatomie County residents will consider expanding the commission this November after a successful grassroots petition effort was waged by a member of the Planning Commission. It’s the second ballot question for voters to decide on Nov. 8. Earlier this month, the commission unanimously approved a resolution asking voters to consider a quarter percent sales tax to be levied to help fund county road and bridge projects. According to County Clerk Dawn Henry, a total 1,011 valid signatures were confirmed, which was more than the 892 necessary. Voters will be asked whether the governing body should be increased from its current three seat commission to five seats. Doug Kern, who started the petition, stated in an interview to KMAN back in February what motivated him to petition the county.
Source: 1350 KMAN
Emporia Public Library’s mobile kitchen brings food literacy to community
The Emporia Public Library made an exception to the “no food in the library” rule recently, thanks to the addition of a mobile kitchen. Using funds donated by Friends of the Library, EPL recently purchased a Charlie Cart mobile cooking station to provide culinary, nutrition and food literacy programming to residents of Lyon County. … Housed in a rolling cabinet, the mobile kitchen has a working sink, convection oven, hot plate, grill, pots, pans, mixing bowls and all the utensils needed to prepare just about any type of food. EPL has hosted classes in the library’s meeting room and taken the mobile kitchen to the Emporia Senior Center and the Farmer’s Market to host classes on-site.
Source: Emporia Gazette
Grant Opp For Rural First Responders
Governor Laura Kelly today announced $3.2 million in grants that will be used to assist rural first responders combatting opioid abuse. The grants will fund training regarding carrying and administering approved medication for emergency reversal of opioid overdose. “The opioid crisis impacts families across Kansas, which is why it’s crucial that our first responders have the support and training they need to save lives and bring relief to our communities,” Governor Laura Kelly said. “This funding will be instrumental in helping struggling Kansans access appropriate treatment and recovery support services.” The Substance Abuse and Mental Health Services Administration (SAMHSA) First Responder-Comprehensive Addiction & Recovery Act (FR-CARA) grants, administered by the Kansas Department for Aging and Disability Services (KDADS), are open for application by rural first responder agencies and members of other key community sectors at the state, tribal, and local levels.
Source: Fort Scott Biz
Kansas mental health hospitals are so overcrowded that patients have to wait in hallways
Patients facing mental health crises are waiting in a Wichita hospital hallway because psychiatric wards are full. Inmates in the Sedgwick County Jail wait up to a year to get transferred to the Larned State Hospital simply for evaluations. And hospital workers get choked, kicked or yelled at by people who can’t get intensive mental health care. Hospital administrators told lawmakers at a hearing Tuesday that a lack of mental health services and overcrowding puts both patients and health care workers in danger at hospitals in south and central Kansas. “The money we’ve spent and the space we have created has been grossly overwhelmed in recent years with the need,” said Robyn Chadwick, president of the Ascension Via Christi St. Joseph Hospital in Wichita. “We do need help.”
Source: KCUR News
Farmland prices soar, making it even harder for young farmers to break in and grow
Farmland values have been rocketing up across the Midwest, for the last year and a half. Farms in Iowa have sold for as much as $25,500 an acre with values increasing 26% in the state over last year and 18% in Illinois, according to data from the Federal Reserve Bank of Chicago. On average, prices rose 25% in Nebraska, and 23% in Kansas over the last year, according to data from the Federal Reserve Bank of Kansas City. The high farmland values are making sales competitive, not just between farmers, but also with investors. But sky high prices can make it especially hard for young and beginning farmers to grow their business on land they can call their own.
Source: KCUR News
Local artist speaks about his multi-wall mural; hopes to add more to the vibrant display in Fort Scott
A local artist today spoke about his new mural on display at the Fort Scott Water Treatment Plant. After about a month and a half, 8 gallons of primer, 60 cans of spray paint, and 30 hours of diligent work, artist Stephen Toal says he’s still not done. “I wanted the mural to be fun and bright and I loved working on it. My intentions were to get more people to Gunn Park and hopefully get school tours to check out the treatment center, said Toal. “I remember as a kid going to the water plant here in Fort Scott and I thought the whole process was pretty cool”. Toal says he wants to add to the mural by painting whales on the giant west wall.
Source: KOAMKOAM
19 new law enforcement officers graduate from KLETC
Nineteen new law enforcement officers graduated from the Kansas Law Enforcement Training Center (KLETC) on Aug. 19 at a ceremony held in the KLETC Integrity Auditorium. Kalaeb Bratton, game warden with the Kansas Department of Wildlife and Parks, was the graduating class president. The speaker for the ceremony was Todd Ackerman, director of the Augusta Department of Public Safety. … Established by the Kansas Legislature in 1968, KLETC trains the majority of municipal, county, and state law enforcement officers in Kansas and oversees the training of the remaining officers at seven authorized and certified academy programs operated by local law enforcement agencies and the Kansas Highway Patrol.
Source: KSN-TV
Wichita Public Library to eliminate overdue fees
As the Wichita City Council approved their budget for 2023 on Tuesday, included was the elimination of overdue fees at the Wichita Public Library. “Effective Tuesday, August 23 by the end of the day, borrowers will not be charged overdue fines for Wichita Public Library materials,” the Wichita Public Library website said. According to their website, past fines will be forgiven. Here’s the breakdown on their website: Aug. 23: Moving forward, Wichita Public Library accounts will not accrue overdue fines. It’s important to return overdue materials, though. If materials are not returned within 30 days of the due date, you will be responsible for paying the cost to replace the material plus a $7 processing fee. …
Source: KSN-TV
Overbrook cooks up plan to build downtown historical museum
A cookbook featuring more than 350 homegrown recipes from members of the Overbrook community is now available for purchase, with proceeds from the sale going toward the effort to build a historical museum in downtown Overbrook. The ”Don’t Overcook Overbrook” cookbook features a wide assortment of recipes for appetizers, soups, desserts, main dishes, salads, and more. The book was published by the Overbrook Historical Society, and is dedicated to the memory of three local women who in their lifetimes fed a large proportion of the Overbrook community…
Source: Osage County News
Shawnee Mission to give one-time $700 bonuses to teachers, other staffers
The Shawnee Mission school board on Monday unanimously approved a one-time $700 retention bonus to qualifying employees, including classroom teachers and classified staff, like custodians and food service workers. Why it matters: The move is aimed at rewarding employees who worked through the pandemic-impacted 2021-22 school year and have stayed with the district for this new school year, according to board documents. What they said: “It’s just to retain employees through the pandemic as staffing has been very difficult,” Hubbard said. “We are happy to be recommending a $700 retention payment for all employees in the Shawnee Mission School District.”
Source: Prairie Village Post
Local officials brainstorm additional security options for USD 383 schools
Manhattan-Ogden school board president Curt Herrman is advocating for more school resource officers at USD 383 to strengthen security. During a meeting Monday with local government officials about a variety of topics, Herrman discussed several ideas for increased school security. Herrman said about $30 million of two previous bond issues passed for a total of $225 million that was spent for school security. “We have secure public entrances,” Herrman said. “All of our doors in the classrooms are steel doors. We have automatic locks.”
Source: themercury.com
Voters will decide Nov. 8 whether to change how Wichita school board members are elected
Wichita school district voters will decide in November how they want their school board representatives to be elected moving forward. The Wichita Board of Education voted 4-3 Monday to place on the Nov. 8 general election ballot a question asking USD 259 voters if they want to switch to a district-specific voting model or stick with the current system, which allows district voters to weigh in on all school board races across the city. “I think it is time to give our community a choice. Let them make the decision,” board member Sheril Logan said.
Source: Wichita Eagle
Municipal Bond Trends for August 22, 2022

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 and Beth Warren.
How Salina schools are coping with the teacher shortage and what’s happening across Kansas
Salina area schools started their first week of classes, and while all districts say they are confident about the year ahead, some are still in the process of hiring faculty and staff. As reported across the state, and in pockets nationwide, there have been fewer applicants to schools for teaching positions. It’s an issue that reflects a greater gap in the overall labor market, which was exacerbated by the COVID-19 pandemic. Salina, though, is in a unique position where its schools are not in dire need of staff, like other parts of the state. But their comfortability now comes from quick action in the early stages of the hiring process – which usually begins in March and into early summer – in the form of hiring and recruiting incentives.
Source: Salina Journal
Downtown lofts in Salina have become a popular place to live
Housing in Salina is a difficult thing to find. Although there’s a unique option in downtown, it’s just about as scarce. More than 50 lofts can be found above the various businesses and restaurants along Santa Fe Avenue and surrounding streets, and the owner of more than half of those said every unit he has is currently filled. Brian Richardson got involved in renovating upstairs units along Santa Fe 15 years ago. … He said it started with some of the old Brown Mackie College buildings that were downtown, which sat vacant for nearly 10 years by the time he began work on them.
Source: Salina Journal
Overland Park firefighters go to extreme heights training for emergencies
A high-angle rescue is something fans would expect to see while watching the hit show “9-1-1” on FOX. Instead of a made-for-television emergency, what happened Monday turned out to be a training exercise in Overland Park. Video provided by the Overland Park Fire Department shows the newest members of its Technical Rescue Team near the top of a water tower. The 12 new members received 90 hours of high-angle training to get to this point, according to the department.
Source: KSN-TV
Construction prices likely to remain high, posing risks for cities, states
Cities and states facing elevated construction costs face an unappetizing menu of choices ranging from more borrowing to delaying projects, each of which carry their own set of credit risks. Elevated construction costs also mean fewer bids for public projects, as contractors are likely to opt first for the private sector, particularly when the market is strong, as it has been for the last two years. High material prices, a tight labor market, fewer bids: it all threatens to eat into the purchasing power of $100 billion of new annual federal infrastructure funding that will roll out over the next five years under the Infrastructure Investment and Jobs Act.
Source: The Bond Buyer
10-year Treasury yield holds above 3% as investors await economic data
U.S. Treasury yields moved slightly lower on Tuesday as investors monitored a fresh batch of economic data and looked ahead to the Jackson Hole economic symposium later in the week. The yield on the benchmark 10-year Treasury note fell about 2 basis points to 3.01% at about 4:35 a.m. ET, holding above the 3% level after surpassing it for the first time in a month in the previous session. … The market moves come ahead of U.S. Federal Reserve Chairman Jerome Powell’s comments on Friday at the central bank’s annual Jackson Hole economic symposium. Powell is expected to deliver a speech addressing the central bank’s approach to taming inflation.
Source: CNBC – Bonds
Wichita to begin program to encourage more home building in the core area
The City of Wichita is starting a program this fall to encourage more home construction in the city’s core area. The program follows a strategy for infill housing an area that has aging homes, vacant lots and homes that need to be demolished. Interim assistant city manager Kathy Sexton recently told the City Council that the area has had only 91 permits for new construction over a three year period. She said some neighborhoods are in decline and there are opportunities to invest. The two-year-program begins October 3rd and it will waive building permit fees for all residential projects.
Source: 101.3 KFDI
Once a Kansas petroleum powerhouse, Neodesha now drills down on education and investments
Driving into Neodesha that Friday afternoon, we found a neat and tidy downtown. A handful of cars passed as we visited a flea market and drugstore and looked for lunch. The sky stretched endlessly blue overhead, while muggy summer heat pressed down as we strolled to and fro on Main Street. This was the big city I knew as a kid, and the small town I recognized as an adult. My son ran ahead, peering through windows. One storefront proclaimed it would soon become the Main Street Diner. Another, freshly clad in black with boarded-up windows, kept its secrets. This quiet street might mislead visitors, though. Neodesha has ambition aplenty. In fall 2019, retired businessman and native son Ben Cutler stepped forward to fund the generous Neodesha Promise scholarship program>. The town’s high school graduates will have college tuition and fees covered.
Source: Kansas Reflector
‘Substantial, but not an exodus’ — Kansas teacher shortage isn’t what you think it is
A predicted crisis in Kansas schools’ ability to staff classrooms with teachers may not be quite at emergency levels. But high levels of burnout and stress are leading to a dwindling pool of candidates to fill positions that do open up, and researchers worry the effects of continued attacks on the profession could snowball into few people becoming teachers in the first place. A Kansas Department of Education Teacher Vacancy and Supply Committee report from the spring showed that across the state, there were a little under 1,400 teacher vacancies in March 2022. A few months after the report, state education commissioner Randy Watson cautioned that Kansas schools could be bracing for “an educator shortage that may be the worst we have seen” in Kansas.
Source: CJonline
New thermal ceiling tiles expected to reduce cost of cooling for these Kansas buildings
A new ceiling tile installed in Wellington City Hall could reduce the cost of cooling. The tile, called passive thermal energy storage ceiling tile, is best described as a sponge, said Barry Dicker, president of Decent Energy Inc. and project leader. The ceiling tile absorbs heat. Then, after temperatures drop, the tiles release the stored heat. The new tile was placed above the existing tile and under the fiberglass insulation already in City Hall.
Source: Wichita Eagle
Boom! Street Art and Mural Festival comes to Salina in October
After working to bring other projects, including the “Mural at the Mill” at the HD Flour Mill, the Salina Kanvas Project wants to continue to bring works of art to downtown Salina, with the Boom! Street Art and Mural Festival coming to the city in October. The festival is bringing artists to Salina beginning Oct. 6 to paint murals on five walls in downtown Salina to celebrate and enhance the visual landscape of the city. Eric Montoy, one of the co-founders of the Kanvas Project, said the idea behind both the project and the festival is to bring people from all over to downtown Salina.
Source: Salina Journal
Hutchinson-area home prices fall 5.7% in July, with houses for sale in high demand
A typical Reno County home listed for $125,000 in July, down 5.7% from the previous month’s $132,500, an analysis of data from Realtor.com shows. The median list home price in July was down about 10.7% from July 2021. Reno County’s median home was 1,666 square feet for a listed price of $81 per square foot.
Source: Hutch News
Topeka leaders consider repealing residency requirement, but changes might expire in 2027
Topeka Deputy Mayor Spencer Duncan’s mother, Kathleen Duncan, questions his assertion that the city should do away with its residency rule requiring city employees to live in Shawnee County, he acknowledged at Tuesday evening’s city council meeting. Spencer Duncan wants to repeal that requirement, but input from his mother has left him willing to “look at every variable” as the city considers how to go about doing that, he said. So when fellow Councilman Neil Dobler suggested making the requirement’s proposed repeal temporary, Spencer Duncan said he’d be willing to arrange for the repeal to expire on Dec. 31, 2027, unless the mayor and council voted to extend it beyond then.
Source: CJonline
Leawood’s pit bull ban is still on the books, but how is it actually enforced?
Leawood’s dangerous animal ordinance banning pit bulls went into effect in 2003 and is the last of its kind in Johnson County. As the Leawood City Council looks into asking for the community’s input on it, here’s where the ordinance stands now and how enforcement looks. What is the rule exactly? Leawood’s city code currently prohibits ownership of “dangerous animals”, which includes pit bulls. The ban specifically names Staffordshire bull terriers, American Staffordshire terriers and American pit bull terriers — or any dog that has the appearance and characteristics of being predominantly of those breeds. How is the pit bull ban enforced? If Leawood’s animal control department receives a report of a pit bull in the city, a police officer or animal control officer is dispatched to investigate.
Source: Shawnee Mission Post
Hundreds of students using Wichita city bus system to get to class
Wichita Transit is reporting around 850 rides a day in the past week with public school students using the bus system to get to class. Senior Communications Specialist Nate Hinkel said there were 70 students per day using a summer free ride program to get to jobs and activities. He said the bus system is providing direct access to most of the middle schools and high schools. He said buses are full during the mornings and afternoons, and additional buses are being added to provide more capacity. He said during the spring, the system averaged 23,000 student rides per month. Hinkel said discounted student passes are available for the semester and the school year, and more information is available at wichitatransit.org
Source: 101.3 KFDI
Lyon County hires public relations manager
Lyon County has hired a public relations manager — tapping Lyon County native Vici Smith for the position. Smith has extensive experience working with the county as the office manager and administrative legal assistant for the Lyon County Court Trustee and Assistant County Counselor’s offices, a role she has held since 2004. She also worked as one of two public information officers. Smith said her experience with the county is likely what helped narrow down what she described as a pool of “really good” candidates.
Source: Emporia Gazette
Visioning Meeting to Bring Community Stakeholders Together
On Tuesday, August 23rd Bourbon County Regional Economic Development, Inc will bring Bourbon County Commissioners, city commissioners from Fort Scott, Uniontown, Bronson, Mapleton, Fulton, and Redfield, as well as Fort Scott Area Chamber of Commerce board members, the Good Neighbor Action Team (GNAT), Healthy Bourbon County Action Team (HBCAT) board members, USD 234 and USD 235 board members, and the Fort Scott Community College board together to discuss a unified vision and how to grow Bourbon County together.
Source: Fort Scott Biz
Pawsitively great day at Manhattan for 2022 Pet Poolooza
The City of Manhattan Parks and Rec Department hosted Pet Poolooza at City Water Park today, and it was well attended. K-State’s College of Veterinary Medicine brought their Wellness on Wheels vehicle and administered rabies vaccines. Enzo didn’t even flinch when he got his shot; he just enjoyed the attention he got from the medical staff. Manhattan’s Bluemont Church had a tent with members from their congregation passing out milkbones, and visiting with the community. St. George residents Jesse Brinson, and daughter Ayanna helped. Ayanna shared what she liked about volunteering at the event.
Source: 1350 KMAN
Seneca Volunteer Fire Department will be hosting a 100th birthday celebration for their fire engine
On Saturday, Aug. 27, the Seneca Volunteer Fire Department will be hosting a 100th birthday celebration for their 1922 Model K Baby Stutz Fire Engine. The Stutz, as it is commonly called in Seneca, was purchased in March 1922 by the City of Seneca and has been owned by the city ever since. The Stutz Motor Company produced 23 Model K fire engines between 1922 and 1928, and to the knowledge of the Seneca Volunteer Fire Department, Seneca’s Stutz is one of two left in existence. Restored once before in time for the 1976 bicentennial, the Stutz is once again in need of repairs and restorations.
Source: The Sabetha Herald
Federal grant will improve Flint Hills Trail
A new federal grant could go a long way toward completing the Flint Hills Trail. Sen. Jerry Moran, R-Kansas, announced Friday that the U.S. Department of Transportation will provide $24.8 million to the Kansas Department of Wildlife and Parks. The money will be used for about 40 miles of the 118-mile trail, which goes through northern Lyon County on its way from Herington to Osawatomie. The KDWP website suggests the area to be improved will be west of Council Grove. The grant will be used for everything from bridges and fences to pipes and drainage improvements.
Source: The Chanute Tribune
Municipal Bond Trends for August 19, 2022

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 and Beth Warren.
Shawnee County residents to vote on whether to raise sales taxes for Gage Park, zoo, Discovery Center
Shawnee County residents will vote Nov. 8 on whether to levy a new, countywide, 0.2% sales tax to benefit Gage Park, the Topeka Zoo and the Kansas Children’s Discovery Center. Shawnee County Commissioners Aaron Mays, Kevin Cook and Bill Riphahn voted 3-0 Thursday to schedule a ballot question election regarding that matter. “I think it’s important to note that we are not passing a sales tax,” Cook said. “That is for the taxpayers to decide on a ballot.”
Source: CJonline
A park built with patience: A look at the treasure these acres in Olathe hold
It’s a huge area, but those who worked to create Olathe’s Cedar Niles Park hope visitors wander through the many acres and soak up all of its unique specifics. “It’s a beautiful part of Johnson County with wooded hillsides and streams,” said Bill Maasen, superintendent of Parks & Golf Courses, Johnson County Park and Recreation District. “It’s one of the most scenic portions of our county.” Cedar Niles was opened to the public last January and officially was dedicated earlier this spring. The park, which is more than 1,000 acres, is located west of downtown Olathe, stretching nearly two miles north and south between 119th and 135th streets. It is adjacent to Lake Olathe and the Prairie Center and features a paved trail, a single-track hiking and mountain bike trail, three access points with water fountains, a playground, shelter and restrooms.
Source: Joco 913 News
Lawrence makes bus rides free starting 2023
With the rise in costs for many goods and services around the country, the City of Lawrence hopes that it can help its residents out by making bus rides free next year. Lawrence Transit will initiate a pilot program to go fare free for the entirety of 2023 for all services which includes fixed route, T Lift, Night Line and planned Sunday microtransit. This decision was made during the Lawrence City Commission meeting on Tuesday, Aug. 16. The Fare Free Pilot Program is expected to help several areas of the city’s Strategic Plan and streamline transit operations.
Source: KSNT 27 News
Municipal Bond Trends for August 18, 2022

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 and Beth Warren.
Hutchinson turns 150 and hundreds celebrate at a mile-long block party on Main Street
Hundreds gathered for a giant block party, commemorating Hutchinson’s 150th birthday. The mile-long celebration started at 6 p.m. with a photo of more than 300 celebrants, dressed in Hutchinson’s yellow and blue, forming the number 150 and waving at a drone. “It’s a fun historic event,” said Lauren Storm of the Hutchinson/Reno County Chamber of Commerce. “It’s a great idea for the city officials to involve everybody on this historic moment.” The Reno County Museum, the City of Hutchinson, Hutch Rec and the Hutchinson/Reno County Chamber of Commerce partnered to create a community block party on Aug. 18.
Source: Hutch News
Despite dark national homebuilder report, Wichita market not seeing as much gloom
… while Wichita’s homebuilders and residential real-estate market are not immune to inflation and supply chain headwinds — the local market is not in dire shape, according to Wess Galyon, Wichita Area Builders Association president and CEO. “We don’t see a sharp downturn coming anytime soon,” he said. According to the latest data from South Central Kansas MLS, in July, Sedgwick County experienced a 19.9% year-over-year drop in closed listings (713 for the month). That followed a 10.6% year-over-year drop in closed listings the prior month. But even with that move, Galyon said a slowdown in Wichita would not be to the degree seen in much larger markets in the U.S.
Source: Wichita Business Journal
Ark City citizens weigh in on small vehicle use
The first draft of an ordinance that would allow the use of golf carts, utility vehicles, micro-utility trucks and all-terrain vehicles on public streets in Arkansas City drew a lot of comments from local citizens during the Tuesday commission meeting. The ordinance permits those vehicles to operate on residential streets but restricts them from Summit Street. Among the commenters, those with more advanced vehicles agreed with the restriction on golf carts but argued that the utility-terrain vehicles, also known as UTV’s, should not be excluded from the city’s main commercial corridor.
Source: Cowley CourierTraveler
Derby takes first step toward updating economic development incentives
The updated policy was presented by staff and spurred on by recent action both in and outside the city limits. Both the city of Wichita and Sedgwick County jointly adopted new incentive policies in 2020, and BG Products presented an incentive request to the Derby advisory board in 2021 that would have been in line with those policies – but not with Derby’s. An exception was made to approve the industrial revenue bond incentives and keep BG Products in Derby, which also started the gears turning on the updated incentive policy. Derby’s policy was last changed in 2011.
Source: Derby Informer | News
Fed’s Daly pushes back against bets on rate cuts next year
Federal Reserve Bank of San Francisco President Mary Daly said the central bank should raise interest rates “a little” above 3% by the end of the year to cool inflation, pushing back against investor bets that officials would then reverse course. “We need to get the rate up, up to neutral at least, which is around 3%, but likely to restrictive territory — a little bit above 3% this year and a little bit more above 3% next year,” she told CNN International in an interview on Thursday. “I really think of the raise-and-hold strategy as one that has historically paid off for us.”
Source: The Bond Buyer