Kansas Municipal News
Marshall announces over $1.6 Million in FEMA aid to Kansas
Wednesday, U.S. Senator Roger Marshall, M.D. announced Kansas will receive more than $1.6 million in federal cost sharing to support immediate staffing and supplies for the Kansas Division of Emergency Management (KDEM) to help with costs related to the COVID-19 pandemic. “From day one, our KDEM and National Guard troops have been on the front line of this pandemic and filling a variety of roles,” said Marshall. … This funding, provided by FEMA, supports KDEM’s utilization of emergency staffing and sheltering caused by the COVID-19 pandemic. This cost-sharing goes toward increased staff capacity, lodging, meals and related supplies.
Source: Great Bend Tribune
UK Variant identified in Ellis County
A CDC Emerging Variant, which has been found in 33 U.S. states, was identified in Kansas this afternoon. A Kansas resident in Ellis County was found to have the United Kingdom, or UK, variant known as B.1.1.7. A case investigation is being conducted to determine how the person became infected with this particular variant of the SARS-CoV-2 virus, as well as if others may have been exposed. No further details are being released concerning the patient, including demographics. The variant was determined through the whole genome sequencing (WGS) conducted through the laboratories at the Kansas Department of Health and Environment (KDHE).
Source: WIBW News Now
Governor Laura Kelly Announces Kansas Find My Vaccine Tool
Governor Laura Kelly announced the launch of the “Find My Vaccine” mapping tool, designed to help Kansans locate sites that are administering vaccines in their communities. The tool is available now on https://kansasvaccine.gov, Kansas’s COVID-19 vaccine website. Kansans in vaccine phase 1 and 2 are recommended to use this tool as a resource for finding providers who are or will be offering the vaccine. “The ‘find my vaccine’ mapping tool allows any Kansan, regardless of where they live, to find the closest vaccine provider to their community,” Governor Laura Kelly said.
Source: WIBW News Now
Millions in transportation dollars from COVID-19 bill will go to Wichita and KC areas
More than $9.1 million of the roughly $93.6 million Kansas received in federal highway and transportation funds through a COVID-19 relief bill will go to the Wichita and Kansas City areas, officials said Thursday. Gov. Laura Kelly and Kansas Department of Transportation Secretary Julie Lorenz announced the breakdown of how transportation dollars through the Coronavirus Response and Relief Supplemental Appropriations Act will be spent during a news conference at the Meridian Center in Newton on Thursday. The legislation, which was signed into law Dec. 27, included $10 billion for state highway and transportation systems, with Kansas receiving about $93.6 million, according to a news release from the governor’s office. Studies show each dollar in transportation “ripples through the economy four times over,” Lorenz said.
Source: Wichita Breaking News, Sports & Crime |
Southwest Kansas medical workers create COVID vaccine videos in nearly a dozen languages
What happens when language differences get in the way of understanding the facts pertaining to the COVID-19 vaccine? That’s the challenging reality many in southwest Kansas were facing until two medical professionals came together to start breaking down the barrier. “It’s a heavy privilege to be in medicine right now, ” said southwest Kansas physician assistant, Erin Keeley. Erin Keeley and Rachael Svaty are medical professionals practicing in southwest Kansas, one of the most diverse places in the state. Not only do the cities make up the densest Hispanic populations in the state, but the communities constitute of racial backgrounds as diverse as Asian, African-American, American Indian, and Native Hawaiian descent according to the U.S. Census Bureau. Many consider the area as a melting pot.
Source: KSN-TV
Scott City to reset ‘vision’ on Thursday
Where does Scott City hope to see itself in the next five years, the next decade and beyond? Local residents will have an opportunity to provide their input during a Scott Community Vision meeting and workshop on Thurs., Feb. 11, from 5:30-9:00 p.m., at the Scott City Middle School commons area. This meeting had originally been planned a year ago, just prior to the pandemic, but the delay may have been the best thing that could have happened, says Scott County Development Committee director Katie Eisenhour.
Source: Scott County Record.
Scott City initiates search for city administrator
On two previous occasions in Scott City’s history, the city council has hired an administrator to assume more of the dayto-day as well as long-range planning for the city. The last time that position was created was in January of 1996 … A new time and increasing demands on elected officials have prompted the city council to hire a consultant and begin the search for an administrator. … [Mayor] Green said the recent decision by City Clerk Brenda Davis to retire on April 20 makes this a good time for this transition to an administrator.
Source: Scott County Record.
Olathe school board votes to bring middle, high schoolers back to in-person learning
The Olathe school board has voted 5-2 to bring all students back to in-person classes at the beginning of March. The board’s decision applies to middle and high schoolers at Olathe Public Schools who are currently in a hybrid learning schedule. Grades Kindergarten through 5th are already learning in-person. These older students will switch to full-time, in-person learning on March 1.
Source: fox4kc.com | FOX 4 – WDAF
Topeka plans to capture and sell biogas generated from city waste
The city of Topeka is working to make the Oakland Wastewater Treatment Plant more environmentally friendly, and doing so could be fiscally beneficial as well. Material at waste facilities, which can include waste from flushing toilets, breaks down and creates biogas, said Braxton Copley, deputy director of the city’s Utility Department. That gas can be captured and sold, but Topeka is flaring off the gas until the project is completed. Copley said Topeka partnered with Bluesource to market the gas. He estimated biogas can bring in about $1.7 million in the first year. With the total cost of the project about $27.2 million, he hopes the pipeline can pay for itself in 16 years. About 10% of that revenue is generated from the gas while the rest is from tax credits, which are obtained in an “extremely complicatedprocess,” Hadfield said.
Source: CJonline.com.
Garden City mask ordinance extended 30 more days
Garden City’s face covering ordinance was extended again. The Garden City Commission approved another 30-day extension to its face covering ordinance at its regular commission meeting Tuesday. It was approved with by a 3-2 vote, with Commissioners Manny Ortiz and Roy Cessna dissenting. The ordinance was originally approved at the city’s Nov. 17 regular meeting and was designed to expire after 30 days unless extended by a majority vote of the commission prior to its expiration.
Source: GC Telegram.
Municipal Bond Trends for February 3, 2021
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.
Sedgwick’s new fire truck now in service
The City of Sedgwick purchased a 2009 LaFrance fire engine from the city of Whitewater toward the end of last year. The vehicle now has Sedgwick’s name on it and has been on one run so far, according to Fire Chief Zane Hansen. Hansen learned of the truck through a co-worker who works with the Whitewater fire department. The truck has only 600 hours and Sedgwick purchased it for $80,000. The cab is custom built and the truck has been in service for a few weeks now.
Source: Harvey County Now
House panel endorses fewer restrictions on sales of weak liquor in Kansas
The pandemic has been good for liquor store business, a lobbyist told a House panel Wednesday, but the industry is concerned the boost in sales will be temporary. Amy Campbell, executive director of the Kansas Association of Beverage Retailers, said the state has 35 fewer liquor stores than it did in 2017 because of a 2019 change in state law that allows grocers and convenience stores to sell beer. The boost in sales is connected to people staying away from drinking establishments, and the restrictions some counties have placed on the hours of operation for bars and clubs. More Kansans have chosen to quench their thirst at home than before the pandemic.
Source: Kansas Reflector
Sedgwick Co. will allow restaurants, not serving alcohol, to remain open to in-person dining without limits
Sedgwick County Commissioners voted to amend the health order to allow restaurants, not serving alcohol, to remain open to in-person dining without any limitations on hours of operation. All other provisions within the Minns order will remain. The order requires people must still be masked and maintain six feet of social distancing. Businesses and organizations are responsible for ensuring that individuals comply with the order’s mask-wearing, mass gathering, percentage of fire code capacity limitations, and social distancing requirements. Businesses are expected to make efforts to comply with fire code capacity limitations included.
Source: KSN-TV
Kansas unveils online map to guide residents to COVID-19 vaccine providers
Kansas officials on Wednesday unveiled an online map designed to help people figure out who to call and where to go to get a COVID-19 vaccine. The map is part of a larger website that also provides information about the current phase of vaccine rollout and who is currently eligible to get the vaccine. Doses are currently reserved for people ages 65 and older, individuals in prison and other congregate settings, and critical workers. The anticipated rollout of the “Find My Vaccine” platform arrives amid a six-week decline in new cases of COVID-19. Still, the pandemic remains a serious threat. On Wednesday, the Kansas Department for Health and Environment reported 86 more people have died from COVID-19, bringing the 11-month death toll to 3,895.
Source: Kansas Reflector
Atchison City Hall to reopen
With COVID numbers trending in a slightly better direction and vaccinations now occurring, Atchison City Hall will be reopened to the public, but just for access to the customer service and police records windows. The building doors will be unlocked during normal business hours (8 a.m.-5 p.m.) beginning on Monday, Feb. 8. Even with the doors open, if residents or visitors need access to any other departments or offices, those will be done by appointment only.
Source: Atchison Globe Now
Governor reports progress in COVID-19 vaccine efforts
Kansas Governor Laura Kelly said Wednesday the state has vaccinated 198,350 residents for COVID-19, and that represents almost seven percent of the state’s population. At her weekly news conference at the Statehouse, the governor said the state is expecting to get 18,525 first doses of the Pfizer vaccine next week, along with 18,525 second doses. Moderna is planning to provide 25,700 first doses and 17,800 booster doses. She said that adds up to 80,550 doses of COVID-19 vaccines, compared to the 45,000 doses that the state was getting a couple of weeks ago.
Source: Country 101.3 KFDI
Emporia moves forward with pickleball court project, Flint Hills Crossing CID
After reviewing information on the project last week, city commissioners officially approved Wednesday a memorandum of understanding with the Emporia Country Club allowing the construction of a public pickleball facility on the premises. The six-court facility (which will be considered a city park upon completion) will be on the current site of the country club’s unutilized tennis courts, directly adjacent to its parking lot. Additional ingress and egress easements have been approved by the ECC as part of the agreement, giving the city additional access (and maintenance obligations) for nearby sidewalks and one or more ECC parking stalls for public use. Barring any weather or complications due to the pandemic, construction should begin in the spring with an estimated completion date of late July.
Source: Emporia Gazette
Municipal Bond Trends for February 2, 2021
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.
Johnson County city could ban people from some medians. Would it push out panhandlers?
Merriam officials could ban pedestrians and panhandlers from medians at the city’s busiest intersections, citing safety concerns. The City Council is considering an ordinance that would prohibit pedestrians from standing or sitting on medians at nine high-traffic intersections, other than to legally cross the street. Police Chief Darren McLaughlin said the city has noticed more people and groups standing or collecting money at the intersections — where more than half of the city’s crashes occur each year. McLaughlin said the law aims to cut down on car crashes and generally ensure the safety of pedestrians and motorists.
Source: Joco 913 News
No longer ‘critical’: Wichita hospital status upgraded as COVID patient count drops
The coronavirus pandemic status is no longer “critical” at Wichita’s two major hospitals as the number of COVID-19 patients has dropped to its lowest level in three months. The Sedgwick County Health Department on Monday changed its area hospital assessment status to “cautious.” It had previously been listed as “critical” since early November, when intensive care units became filled to capacity and hospitals were forced into contingency operations. County officials have not defined either “critical” or “cautious,” so it is unclear exactly what led the status to be upgraded.
Source: Local News | Wichita Eagle
Sedgwick County relaxing COVID-19 rules on restaurants, bars, stores and sports events
In a sign that things are getting better on the COVID front, Sedgwick County’s health officer is relaxing restrictions on bars and restaurants, stores, mass gatherings and sports. Dr. Garold Minns and County Counselor Mike Pepoon announced several changes to the county’s anti-COVID orders Tuesday, including: Relaxing the curfew on bars and restaurants from the current 11 p.m. closing time to midnight.
Source: Local News | Wichita Eagle
Sedgwick County Zoo completes its largest capital fundraising campaign
Sedgwick County Zoo officials said Tuesday it had completed its $15.1 million capital campaign that will pay for a new entryway and a new leopard exhibit. “All sectors of our community really came through for this effort,” said Sheryl Wohlford, chairperson of the Zoological Society board. “Trying to raise funds during a global pandemic was certainly a daunting challenge. But this community loves the zoo and values the impact it has on our region and the mission it upholds. We are most grateful.” It was the largest capital campaign in the zoo’s 50-year history.
Source: Wichita Business Journal
Pottawatomie County continues to see housing boom, rise in non-subdivision construction
It’s no secret that housing continues to boom in Pottawatomie County. New home builds in 2020 were relatively on pace with previous years, according to Planning and Zoning Administrator Stephan Metzger, with an uptick particularly in non-subdivision home construction. In 2020, 46 houses were built outside of subdivisions in the county, the highest total since at least 2000. Metzger says as urban sprawl continues, it’s important the county keep an eye out if it’s something they want to control.
Source: 1350 KMAN
New city manager Jeremy Frazier sees opportunities for Fort Scott
Jeremy Frazier moved into city hall Monday as Fort Scott’s new city manager. Frazier makes his way to Fort Scott from Oklahoma, where he has lived most of his life, except for a few “short stints” in Maryland. … He graduated from high school in a town similar to Fort Scott. “Fort Scott actually has more going for it,” Frazier said. “In fact, a lot more going for it.”
… “I think Fort Scott residents probably underestimate the amount of chances they have in their community,” Frazier said. “I say that from my personal experience. I’m excited to see all the things that can be done.”
Source: Fort Scott Tribune
Shawnee considers creating citizen board to review bias complaints against police
The Shawnee Police Department is proposing to launch a new advisory board that would, among other things, look into complaints of officer bias. The proposed Community Advisory Board for Racial Profiling Review and Policy Development would focus on the following objectives for the Shawnee Police Department: advise and assist in policy development, education and community outreach, and communications related to the preemption and prohibition of racial and biased-based policing “In an effort to provide another means of transparency related to Police Department operations, the Board would be used to review and advise the Chief of Police regarding the investigation process and resolution of complaints regarding racial and other biased-based policing,” according to a city memo.
Source: Prairie Village Post
Johnson County residents looking for vaccine doses can check out Kansas’ Find My Vaccine Map
Johnson County residents looking for a way to get vaccinated now have another tool at their disposal: Kansas’ new Find My Vaccine Map. The Kansas Department of Health and Environment’s interactive map shows a list of COVID-19 vaccine providers who may be able to administer doses to eligible people in the first two phases of the statewide vaccination response. The new online tool from KDHE includes information on providers who are administering vaccines, broken into three categories: providers that have recently received a batch of vaccines, providers who have not received recent shipments and providers who are not publicly sharing their vaccine dose availability. As of Tuesday, nearly all providers listed in Johnson County had no public information available.
Source: Prairie Village Post
Sublette bond refinancing saves city money after receiving 5 very competitive bids
Yesterday, Sublette received competitive bond bids from 5 underwriters. The best bid nearly tripled the savings the city had been anticipating.
| Bid 1 | Bid 2 | Bid 3 | Bid 4 | Bid 5 |
| 1.0893% | 0.8268% | 1.0371% | 0.8063% | 0.8025% |
Contact the Municipal Bond Advisors at Ranson Financial Group to seek competitive bids on your next bond issue.
‘We need more nice stuff down south.’ Wichita to build $1.4 million park event center
South Wichita will soon have a new place for weddings, family parties and other gatherings. The City Council is poised to give final approval Tuesday to funding for a $1.4 million, four-season facility at O.J. Watson Park that will hold parties of about 100-120. “We need more nice stuff down south,” said Mayor Brandon Whipple, who lives in the area.
Source: Local News | Wichita Eagle
Some question Kansas’ system to appoint election officials
Some people are questioning a Kansas law that allows the secretary of state to appoint election commissioners in the state’s most-populated counties. The questions come after Secretary of State Scott Schwab fired Sedgwick County’s election commissioner for accessing a voter database when working from home while undergoing treatment for cancer. Critics question why voters can’t choose the person who oversees elections in Sedgwick, Shawnee, Johnson and Wyandotte counties just as they do in 101 other counties in the state. Schwab’s spokeswoman Katie Koupal said the current system “maintains the delicate balance of protecting local election officials from potential conflicts of interest while also holding them accountable” to county leaders who set their budgets.
Source: KSN-TV
How this artistic pole at Lenexa City Hall could ‘inspire peace’ in 2021
After a tumultuous year marked by a global pandemic, civil unrest and social upheaval, artists are crafting messages of peace through a new community art project in Lenexa. The city is launching the Peace Pole Community Art Project Exhibit this month and is calling on artists to design a “peace pole” to inspire hope this year. The city has partnered with local rotary clubs and the Lenexa Arts Council to launch the project. Susanne Neely, recreation supervisor, said the project first came about when the Lenexa Rotary Club and the Rotary Club of Western Johnson County approached the city with interest in erecting a peace pole somewhere in the city as part of the clubs’ mission.
Source: Prairie Village Post
Kansas Senate bill would limit local government’s ability to ban fossil fuels
Cities would not be able to ban natural gas as an energy source under a bill being considered in the Kansas Senate. Environmental organizations say the bill could slow a transition to renewable energy, while supporters say measure would help keep Kansas electric rates low. “I understand that cities that might want to go all-electric, but I think they should have a choice and I’m going to fight for that here,” said Senator Robert Olson, a Republican from Olathe. “I think natural gas is clean energy and I think we’ve gotten so wacko in this state. We are one of the greenest states in the country.” The bill is similar to proposed legislation in Missouri and Indiana, as more cities across the nation commit to green energy initiatives. The initiatives vary widely, from San Francisco which ruled that all new homes, offices and restaurants must be electric-powered to a coalition of Kansas City suburbs who committed to using clean energy for city services.
Source: Atchison Globe Now
Kansas House debates property tax transparency measure after Senate overwhelmingly approves it
A transparency bill that would hold local elected officials accountable for increasing property taxes is working its way through the Kansas House. The Kansas Senate voted 34-1 in favor of the “Truth in Taxation” bill, which would require local government bodies to inform the public about any property tax revenue increases regardless if the increase is a result of a millage hike. Gov. Laura Kelly vetoed a similar bill during the last session and because of COVID-19, lawmakers didn’t have time to attempt an override.
Source: Atchison Globe Now
City of Great Bend honored for generosity
It was a proud moment for the City of Great Bend during the City County meeting Monday night at the Events Center. Mackenzie Mitchell, development and communications coordinator with the Golden Belt Community Foundation, presented a sign and check to City Administrator Kendal Francis. This marked the city’s earning the Most Generous City Award from the foundation’s eighth-annual Giving Tuesday held Dec. 1. “This is very exciting,” Mitchell said. You guys do have a generous community.” This was the second year for the Most Generous City award, which was calculated with gift totals by zip code per capita. Great Bend received a grant of $1,000 to an organization or project in that community. Francis said they plan to use the funding for the Police Youth Academy.
Source: Great Bend Tribune
Johnson County expands Phase 2 of COVID-19 vaccination plan
Johnson County is moving forward with Phase 2 of its COVID-19 vaccination plan. “It’s about getting the vaccine into the arms into as many people as possible,” said Dr. Sanmi Areola, director of Johnson County Department of Health and Environment. The county will start vaccinating people 65 years and older, and K-12 special education teachers—who could get their shot this week. “Our special education teachers and students tend to be quarantined because of the students’ inability to mask and mask well,” said Elizabeth Holzschuh, director of epidemiology, at Johnson County Department of Health and Environment.
Source: KMBC.com
Regional conversations set new hospital model
The latest federal appropriations bill includes language that could enable some struggling rural Kansas hospitals to develop a new service delivery model that Kansas health experts say might save them. Adoption of the new model, however, will require both community buy-in and enabling state legislation. Several Kansas health care agencies have been working for more than five years on developing an approach similar to the proposed model, which would provide an emergency room, as well as outpatient and post-acute services, but no in-patient hospital care. …The recent federal legislation creates a new “Rural Emergency Hospital” designation, which closely aligns with the one that was being developed in Kansas called a Primary Health Center. It allows such facilities to begin operating in January 2023.
Source: Hutch News.
Office of Rural Prosperity Announces Successful 2020 Initiatives in Annual Report
Today Governor Laura Kelly, Lt. Governor David Toland, and Treasurer Lynn Rogers announced the release of the Office of Rural Prosperity’s (ORP) 2020 Annual Report. The report outlines ORP’s policy priorities and the office’s ongoing projects, including rural infrastructure and broadband, childcare and early education, housing, and community and workforce development. “The Office of Rural Prosperity has been an important tool to address economic issues facing rural communities, businesses, and Kansans,” Governor Laura Kelly said. “We know that more work must be done to encourage community and economic development across our state, and this report provides a roadmap to continue investing in and supporting rural Kansans.”
Source: Kansas Department of Commerce
Lincoln County to host mass vaccination event
The Lincoln County Health Department will administer about 2,000 doses of Pfizer coronavirus vaccine Friday at a mass vaccination event. Appointments are required to attend the event, and they will be offered only to qualified individuals who are already on the county’s pre-registration list. The health department will contact qualified individuals on the list to make an appointment and provide information about the event location; residents do not need to contact the health department. Qualified individuals are those in Phases 1A, Phase 1B-Tier 1 and Phase 1B-Tier 2. Click here to see when you are eligible to receive the vaccine.
Source: The Chanute Tribune
Kansas electric rates are the highest in the Midwest — and it’s about to get worse
Kansas has been in an electric rate crisis since at least 2018. And it is about to get much worse, as our already sky-high regional electric rates are headed much higher. Evergy electric rates are the highest in the Midwest region. Multiple professional studies have shown this to be the case, and Evergy even briefed its board of directors about it in December 2019. In Wichita and every other Kansas community served by Evergy, electric rates are 20% to 40% higher for residential and industrial users than in the metropolitan areas of Oklahoma, Arkansas and Iowa.
Source: Wichita News
Wichita police, Broadway motel owner work to cut crime in area by 73%
Crime is noticeably down around a South Broadway motel where multiple people were shot and a successful drug raid occurred in 2020 after officials and the owner worked to make changes to the property and its tenants. Since a month-long injunction in Fall 2020, aggravated assault cases near Afton Motel, 855 S. Broadway, are down 73% compared to the same time period before the injunction, Officer Charley Davidson said in a news release Thursday. Davidson said there were 76 criminal cases and 200 calls at the motel over a period of roughly seven and half months.
Source: Local News | Wichita Eagle
Winfield park upgrade would include pickleball courts
New pickleball courts and other features could be coming to Albright Park in Winfield, if construction contracts are approved by the Winfield City Commission at its Monday meeting. The three contracts on the agenda are for construction of pickleball courts, restroom facilities and playground facilities as part of continuing improvements to the city’s park system. Park improvements were one of the priorities identified by residents in a citywide planning survey conducted in late 2019, with survey results used to help create the city’s 2020 Master Parks and Trails Plan. The park, at 15th Avenue and John Street, is in a residential neighborhood with a school and senior care facility nearby. Taking these elements into consideration, redevelopment will focus on intergenerational play in the community, according to Taggart Wall, Winfield city manager.
Source: The Arkansas City Traveler
Pittsburg PD working to help families
A Southeast Kansas Police Department comes together to help families in need. The Pittsburg Police Department is hosting a diaper drive for Crawford County DiaperStock. Over the next week the department will be collecting diapers and wipes to help families in need. Originally this was meant to help the Pittsburg community. Thanks to assistance from the Community Health Center of Southeast Kansas, donations will be going to the entire county. Diann Gambill, Family Response Advocate, said, “A lot of families are struggling right now, not just because of the pandemic but because of the extenuating circumstances. Diapers and wipes are an added cost that does add a lot of stress to the families, so if we can alleviate that stress, then we are helping the families in a way.”
Source: KSNF/KODE
Pittsburg Library offering Wi-Fi hotspots
Internet is about to become more accessible for one Southeast Kansas town. The Pittsburg Public Library is now offering mobile Wi-Fi hotspots for check out. This was made possible thanks to a grant from the Southeast Kansas Library System. The library wants to use these hotspots to help provide internet access to those in rural areas. Bev Clarkson, Pittsburg Public Library Director, said, “Considering how much virtual learning we’re doing, how many people are working from home, people having access to library resources remotely or health resources, just about everything you do now requires a computer and access to the internet.” Hotspots are available to check out for those 18 and older. All you need is a valid card from the Pittsburg Public Library and a photo ID.
Source: KSNF/KODE
Municipal Bond Trends for January 28, 2021
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.
Federal Reserve leaves interest rates and asset purchases unchanged, sees growth slowing
The Federal Reserve kept its foot to the floor Wednesday in terms of the help it is providing for an economy that central bank officials say has slowed down. Consistent with market expectations, the policymaking Federal Open Market Committee said it was keeping its benchmark short-term borrowing rate anchored near zero and maintaining an asset purchasing program that is seeing the Fed buy at least $120 billion a month. “The economy is a long way from our monetary policy and inflation goals, and it’s likely to take some time for substantial further progress to be achieved,” Fed Chairman Jerome Powell said at his post-meeting news conference. Policy will remain “highly accommodative as the recovery progresses,” he added. At the core of the move to keep policy historically accommodative was an economy in which the sectors most vulnerable to the pandemic are taking the hardest hit.
Source: Economy