Williams says Fed’s rate liftoff still way off in the future

A discussion about raising interest rates is still quite a ways off as the Federal Reserve begins debating tapering its bond-buying program, New York Fed President John Williams said. “That’s still way off in the future,” Williams said of rate hikes during a Bloomberg Television interview on Tuesday. “Right now, really, I think the attention is on the taper.” The U.S. central bank’s policy-setting Federal Open Market Committee, on which Williams sits, is debating when it will be appropriate to begin scaling back the bond-buying program it put in place last year at the outset of the pandemic. … At the conclusion of a two-day policy meeting on June 16, the FOMC published updated quarterly projections showing the majority of policy makers expected it would be appropriate to begin raising the central bank’s benchmark federal funds rate from its current near-zero level sometime in 2023. Seven of 18 on the committee expected it would be appropriate to begin raising the rate as soon as next year.
Source: The Bond Buyer

2021-06-23T07:39:25-05:00June 23, 2021|News|

Consumption zone coming to downtown GB

In an effort to rekindle downtown Great Bend and make the community more competitive, the City Council Monday night approved a resolution creating a common consumption area in the city’s center to be known as Great Bend Alive Plaza. The request for the designation came from Great Bend Economic Development Inc. for Forest Avenue from the west side of Main Street to the east side of Williams Street. Great Bend Alive Inc., a non-profit offshoot of GBED, will be licensed to operate the area. “This is an opportunity to provide another gathering spot and other area for people to come downtown, enjoy the company of their co-workers, their family and friends, and then go out and continue to enjoy Great Bend,” said GBED President Sara Hayden. “So we call it the gather and scatter.” … Although there has been a lot of talk about drinking, “it’s not just about alcohol,” she said “It’ll be about the entertainment factor.”
Source: Great Bend Tribune

2021-06-22T08:31:49-05:00June 22, 2021|News|

As shootings ‘skyrocket,’ Wichita police want council approval for federal crackdown

Amid a surge in violent crime in Wichita, police are asking the City Council to approve a partnership with the U.S. Marshals for a federal crackdown. The request follows what Police Chief Gordon Ramsay called a “busy weekend” with seven shootings where nine total people were shot. One of the shootings hospitalized an officer, who was shot in the head and legs with what a police captain described as “an AR-15 style assault rifle.” “We have seen since a little over a year ago, we saw shooting numbers skyrocket,” Ramsay said Monday during a news conference where he provided an update on the injured officer. “I really feel, and chiefs all around the country are all saying the same thing, that something has happened societally that is causing people to immediately resort to solving conflict through the use of guns.”
Source: Local News | Wichita Eagle

2021-06-22T08:09:46-05:00June 22, 2021|News|

Federal Reserve Chairman notes economic improvement, but says the pandemic remains a risk

Federal Reserve Chairman Jerome Powell said in testimony prepared for delivery to Congress this week that the economy is growing but faces continued threats from the coronavirus pandemic. The central bank leader also highlighted rising inflation pressures that he expects to lessen over time. As the economy recovers from the pandemic, he also pledged continued support from policies the Fed put into place in the early days of the Covid-19 threat…. The Fed has kept its benchmark short-term lending rate anchored near zero and is buying at least $120 billion of bonds each month. But last week’s Federal Open Market Committee meeting indicated that members are looking ahead to when they will start pulling back on policy accommodation.
Source: CNBC

2021-06-22T08:09:13-05:00June 22, 2021|News|

East-side Save A Lot closing as Wichita’s food desert grows

Northeast Wichita’s Save A Lot grocery store is closing and with it the only full-service supermarket serving a broad swath of the historically Black community in northeast Wichita. City Council member Brandon Johnson said he has confirmed the planned closure, which is tentatively scheduled for July 10. The closure of the store, at 2402 E 13th St., is a major blow to a large section of the city, Johnson said. “It’s going to make things worse,” Johnson said. “It’s already a food desert and this is the nearest store people over here have.” Other than Save A Lot, the closest grocery stores are Dillons markets at Douglas and Hillside, or two other Dillons on Rock Road, one at Central and one at 21st Street.
Source: Local News | Wichita Eagle

2021-06-21T20:55:01-05:00June 21, 2021|News|

Riley County’s Fair and Impartial Policing Working Group works to address policing concerns

On Monday, the Fair and Impartial Policing (FIP) Working Group presented their findings to the Riley County Law Board on community policing recommendations. The FIP was created in conjunction with the Manhattan-Riley County Coalition for Equal Justice (CEJ). “We as a community look at this not as a combative stance but in a collaborative sense. And one of the first things we want to do is build a relationship with RCPD,” said CEJ representative Dr. Lorenza Lockett. In a report released to the public, the group detailed items like working to recruit more diverse staff to RCPD, continuing to advance department policies that prohibit biased policing and continuing to perform community outreach. The collaboration between CEJ and RCPD is something RCPD Director Dennis Butler welcomes.
Source: KSNT News

2021-06-22T07:58:30-05:00June 21, 2021|News|

New gym opens up in downtown Hillsboro

A previously empty storefront on Hillsboro’s Main Street has been filled with a much needed business. Infinity Fitness is a gym that provides “local fitness at affordable prices” according to their website. “Fitness has always been a passion of mine and it was something I could bring to the community,” said owner Ryan Franz. Franz, who grew up in Hillsboro, said they had a soft opening on Saturday, June 5, and they are having a grand opening on June 19. “We are open 24/7. I’m here for sign-ups from 12-2 p.m. and 5-7 p.m. every weekday and then every Saturday from 10 a.m.-5 p.m.,” said Franz. The gym offers single, couple, family, student, teacher, senior and military memberships.
Source: Hillsboro Free Press

2021-06-22T07:59:53-05:00June 21, 2021|News|

Fed’s Jim Bullard sees first interest rate hike coming as soon as 2022

St. Louis Federal Reserve President James Bullard told CNBC on Friday that he sees an initial interest rate increase happening in 2022 as inflation picks up faster than previous forecasts had anticipated. That estimate is even quicker than the outlook the broader Federal Open Market Committee released Wednesday that caused a hit to financial markets. The committee’s median outlook was for up to two hikes in 2023, after indicating in March that saw no increases on the horizon. Bullard at several points described the Fed’s moves this week as “hawkish,” or in favor of tighter monetary policy than what has prevailed since the onset of the Covid-19 pandemic. “We’re expecting a good year, a good reopening. But this is a bigger year than we were expecting, more inflation than we were expecting,” the central bank official said …
Source: CNBC

2021-06-21T07:42:46-05:00June 21, 2021|News|
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