Fed Chair Powell calls talk of cutting rates ‘premature’ and says more hikes could happen

Federal Reserve Chairman Jerome Powell on Friday pushed back on market expectations for aggressive interest rate cuts ahead, calling it too early to declare victory over inflation. Despite a string of positive indicators recently regarding prices, the central bank leader said the Federal Open Market Committee plans on “keeping policy restrictive” until policymakers are convinced that inflation is heading solidly back to 2%. “It would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance, or to speculate on when policy might ease,” Powell said in prepared remarks for an audience at Spelman College in Atlanta. “We are prepared to tighten policy further if it becomes appropriate to do so.” Expectations that the Fed is done raising rates and will move to an easing posture in 2024 have helped underpin a strong Wall Street rally that has sent the Dow Jones Industrial Average up more than 8% over the past month to a new 2023 high.
Source: CNBC – Bonds

Ranson Financial2023-12-04T13:19:18-06:00December 4, 2023|News|

Kansas and Missouri have 256,000 lead pipes. EPA wants them removed within 10 years.

An individual holds a lead pipe, a steel pipe and a lead pipe treated with protective orthophosphate. The Environmental Protection Agency has proposed a rule requiring water utilities to remove lead pipes decades after new ones were banned. (EPA) Utilities in Kansas and Missouri would have to pull hundreds of thousands of lead pipes out of the ground within 10 years under a proposed rule the Environmental Protection Agency announced Thursday. The EPA announced a proposed update to the lead and copper rule strengthening President Joe Biden’s earlier goal of eradicating lead pipes. The proposed rule also would lower the limit on lead in water by one-third. “Lead in drinking water is a generational public health issue, and EPA’s proposal will accelerate progress towards President Biden’s goal of replacing every lead pipe across America once and for all,” EPA administrator Michael Regan said in a news release. For much of the 20th Century, utilities were permitted to install lead service lines, the pipes that carry water from water mains under the street into homes. The EPA banned them in 1986, but utilities have never been required to remove existing pipes. In fact, some utility companies don’t know where the remaining lead service lines are. Estimates as to how many remain vary widely. The EPA estimates Missouri has 202,112 remaining lead service lines while the environmental nonprofit the Natural Resources Defense Council estimates more than 330,000. In Kansas, the EPA estimates 54,107 lead pipes remain while the NRDC believes there are more than 160,000.
Source: Kansas Reflector

Ranson Financial2023-12-04T10:07:02-06:00December 4, 2023|News|

Colwich residents asked to avoid flushing “flushable” wipes

Residents in Colwich are being asked not to flush “flushable wipes” because of a backup in the city’s sewer system. The city reported the problem on Tuesday and put a post on social media showing the effect of flushable wipes on sewer systems. The post is asking residents to flush only toilet paper. The city also posted a graphic saying that such items as paper towels, disposable diapers, dental floss, plastics and cigarette butts should not be flushed down the toilet.
Source: 101.3 KFDI

Ranson Financial2023-12-04T10:04:55-06:00December 4, 2023|News|

Municipal Bond Trends for December 1, 2023

The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. Every issuer’s credit is different, and other financing sources may be available. To obtain comprehensive Financial Advisory services for your local government, contact your Ranson Financial Municipal Advisor, Larry Kleeman, or Henry Schmidt.

Henry Schmidt2023-12-04T09:05:32-06:00December 4, 2023|News|

Overland Park developing pilot to encourage more diverse housing

Overland Park, like many other Johnson County cities, is exploring ways to encourage more diverse housing options for its current and future residents. City staff and a team of consultants from MBL Planning are developing a pilot program that aims to make it easier to get such projects through the planning process with something called pattern zoning. Under the pilot program, Overland Park would keep a collection of 24 pre-designed homes that are “permit-ready,” Planning and Development Services Director Leslie Karr said. Those designs would be available for any resident to use for free on any lot in the city that carries the corresponding residential zoning designation. She said that this pilot, once it’s active, can really simplify the process and open the market up to smaller developers or private citizens who want to build this type of housing but might lack the money to get through the traditional permitting process.
Source: Prairie Village Post

Ranson Financial2023-12-01T10:49:50-06:00December 1, 2023|News|

Governor Kelly Announces Nearly $15M Available to Connect Kansans to Digital Devices and Public Wi-Fi

Governor Laura Kelly announced today that applications are open for the Advancing Digital Opportunities to Promote Technology (ADOPT) program. A total of $14.7 million in grant awards will be available to organizations addressing the challenges of broadband accessibility, affordability, and device availability. “Every Kansan deserves the opportunity and the resources to thrive in today’s modern economy,” Governor Laura Kelly said. “By increasing access to the internet through devices and public Wi-Fi, ADOPT is equipping Kansans with the tools necessary to participate and compete in our highly connected world.” More than 153,000 Kansans are without high-speed internet subscriptions because of barriers such as infrastructure limitations, affordability issues, and lack of access to devices and technical support. The Kansas Office of Broadband Development (KOBD) is rolling out the comprehensive ADOPT program to combat these challenges. “Expanding broadband access by bringing public Wi-Fi and digital devices to underserved areas will open doors to education, remote work, health care, and more,” Lieutenant Governor and Secretary of Commerce David Toland said. “This game-changing program ensures reliable access for those who need it most — which not only connects communities but fosters economic growth.” ADOPT is divided into two key categories: Equipment Distribution and Public Wi-Fi.
Source: Kansas Department of Commerce

Ranson Financial2023-12-01T10:48:27-06:00December 1, 2023|News|

EPA releases proposed Lead and Copper Rule Improvements

The U.S. Environmental Protection Agency (EPA) on Wednesday released its proposed Lead and Copper Rule Improvements (LCRI). The expected proposal would amend the 2021 Lead and Copper Rule Revisions and establish new mandates for lead pipe including a requirement for U.S. water systems to replace all lead service lines within 10 years. The proposed Lead and Copper Rule Improvements will reduce the lead action level and amend tap sampling protocols utilized by water systems. Key provisions include achieving 100% Lead Pipe Replacement within 10 years, locating legacy lead pipes, improving tap sampling, lowering the Lead Action Level, and strengthening protections to reduce exposure. The proposal would also require water systems to communicate more frequently and proactively with consumers about lead service lines and the system’s plans for replacing the lines. The Lead and Copper Rule Improvements are central to the whole of government approach detailed in the Biden Administration’s Lead Pipe and Paint Action Plan. The Biden EPA has also touted its $15 billion investment through the Bipartisan Infrastructure Law to replace lead service lines, provide technical assistance to communities, and support the development of a national inventory of lead service lines.
Source: Water Finance & Management

Ranson Financial2023-12-01T10:45:29-06:00December 1, 2023|News|

Governor Kelly Announces $28.5M for High-Speed Internet Infrastructure

Governor Laura Kelly announced today that $28.5 million in grants were awarded to 12 entities through the Lasting Infrastructure and Network Connectivity (LINC) program. The LINC program provides strategic funding for crucial aspects of broadband connectivity to reduce the cost of internet service, increase availability, and improve performance. “LINC is another step forward in our promise to connect all Kansans, including in rural areas, to high-speed internet,” Governor Laura Kelly said. “We are empowering communities with high-speed broadband infrastructure, unlocking greater economic growth, increased access to telemedicine, and expanded educational opportunities. ” With matching funds from service providers, the total broadband investment in LINC is expected to surpass $33.9 million. LINC will provide opportunities for increased internet adoption by focusing on funding for Broadband Infrastructure, enabling end-user locations with a minimum of 100/20 Mbps speeds, Internet Exchange Point facilities to improve the overall internet access service quality for all Kansans, and Middle Mile infrastructure to reduce overall costs in delivering broadband to end-users. “As we continue to lead the nation in business development, robust broadband becomes even more critical for attracting new businesses and remote workers to the state,” Lieutenant Governor and Secretary of Commerce David Toland said. “We will continue to work with partners across Kansas to ensure all communities have the high-speed broadband they need to compete and succeed.”
Source: Governor of the State of Kansas

Ranson Financial2023-12-01T10:41:35-06:00December 1, 2023|News|

Mulvane to repay $7 million to casino

Based on valuations set by the Sumner County appraiser and appeals filed by the Kansas Star Casino, an agreement was recently approved by the Sumner County Commission to resolve tax issues dating back a decade, according to The Mulvane News. Each year since its opening in 2011-2012, the Kansas Star Casino has appealed its property taxes set by Sumner County, which were deemed too high each time. Now, with the agreement in place, local taxing authorities – including Sumner County, the city of Mulvane, USD 263 and more – are set to resolve the appeals for 2014, 2016-2017 and 2019-2023. Payments will be refunded over four years, without interest, per the agreement. Mulvane’s total payback figure over four years comes to $7,268,566.58.
Source: Derby Informer | Area

Ranson Financial2023-12-01T10:39:47-06:00December 1, 2023|News|

Winfield plans to help workers find jobs after closure of manufacturing facility

Nearly 200 workers in Winfield are expected to be out of work in the coming months. The city says Silgan Dispensing Systems will close its Winfield plastic manufacturing facility. Silgan handed out notifications about the layoffs to employees this week, saying layoffs begin in January. The closure of the Winfield plant is part of a larger trend, according to Wichita State University’s economic development and business research director. “When I look at this sector of plastics, it has been declining over the last five years,” said Jeremy Hill. “It declined about four percent over the last five years.” … Winfield City Manager Taggart Wall said the closure came out of left field. “As recently as 11 months ago, we were working with the company on expansion plans here in Winfield,” Taggart said. Now, the city is trying to prevent big losses. “Priority number one, to replace these lost jobs here in Cowley County,” Taggart said.
Source: KSN-TV

Ranson Financial2023-12-04T13:20:53-06:00December 1, 2023|News|

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