Fed’s Harker sees ‘lack of progress’ on inflation, expects aggressive rate hikes ahead

21 Friday, October 21

Fed’s Harker sees ‘lack of progress’ on inflation, expects aggressive rate hikes ahead

info2022-10-21T07:15:59-05:00October 21st, 2022|

Philadelphia Federal Reserve President Patrick Harker on Thursday said higher interest rates have done little to keep inflation in check, so more increases will be needed. "We are going to keep raising rates for a while," the central bank official said in remarks for a speech in New Jersey. "Given our frankly disappointing lack of progress on curtailing inflation, I expect we will be well above 4% by the end of the year." The latter comment was in reference to the fed funds rate, which currently is targeted in a range between 3%-3.75%. Source: CNBC

21 Friday, October 21

Garden City approves sales tax exemption extension for Sports of the World

info2022-10-21T07:16:35-05:00October 21st, 2022|

An extension for the Sports of the World sales tax exemption was approved by the Garden City Commission on Tuesday at its regular meeting. Danielle Burke, Assistant City Manager, said several actions have already been made on the project, dating back to 2017. One of which was the 2019 approval of a development agreement with GC Investments, Inc. A component of the agreement was an industrial revenue bond providing an exemption from applicable retail sales tax on construction materials, equipment and furnishings that are allowed by state statute, Burke said. An expiration date was included in the resolution when it was [...]

21 Friday, October 21

Kansas Water Office Releases 2022 Kansas Water Plan

info2022-10-21T00:30:31-05:00October 21st, 2022|

The Kansas Water Office (KWO) released the finalized 2022 Kansas Water Plan (KWP) this week. This is the first comprehensive water plan for the state of Kansas to be released since 2009 and provides a roadmap for navigating the vast array of water issues throughout the state. The water plan provides an outline for management, conservation and development of the state’s water resources. To do so, it names five guiding principles – conserve and extend the High Plains Aquifer; secure, protect and restore our Kansas reservoirs; improve the state’s water quality; reduce our vulnerability to extreme events; and increase awareness of [...]

21 Friday, October 21

Hoisington meeting challenge of rising electric costs

info2022-10-21T07:39:51-05:00October 21st, 2022|

... the price of natural gas — one of many factors going into the cost of electricity — is expected to spike again during the winter months of 2023. City officials in Hoisington and across the state are resorting to a variety of measures to mitigate the increasing cost of purchased power, a big chunk of a monthly electric bill. Hoisington City Manager Jonathan Mitchell said that some of those out-of-the-box measures have been going on for a while. “A thing that we’ve done internally is to make changes to our staffing structure,” Mitchell said. “We’re reducing staff; trying to be [...]

21 Friday, October 21

10-year Treasury yield tops 4.2% for first time since 2008

info2022-10-21T00:27:52-05:00October 21st, 2022|

Treasury yields rose on Thursday after surging to highs not seen in more than a decade in the previous session. The benchmark 10-year Treasury yield climbed 9 basis points 4.22% in midday trading, hitting its highest level since 2008. The yield on the policy-sensitive 2-year Treasury traded up nearly five basis points to 4.601%. Yields and prices move in opposite directions and one basis point equals 0.01%. Many investors been concerned about the economy contracting as the Federal Reserve has been hiking interest rates to fight persistent inflation. Another 75 basis point hike is expected from the central bank at its [...]

21 Friday, October 21

Wichita police say they’ve made largest fentanyl bust in department history

info2022-10-24T07:15:20-05:00October 21st, 2022|

Officers have made the largest fentanyl bust in Wichita police history, the department said Thursday. It’s enough pills to possibly kill the entire population of Wichita. “We’ve estimated — based on weight — the number of pills to be somewhere in the area of half a million to a million, which would make this the largest seizure of fentanyl for our agency to date and a record seizure nationwide,” the department said in a Facebook post. Source: Wichita Eagle

21 Friday, October 21

City interested in revitalizing downtown Wichita library

info2022-10-21T07:40:18-05:00October 21st, 2022|

The City of Wichita is wanting to breathe new life into the old downtown library and its asking for your help. The city has put out a request for information to see what different ideas are out there to reuse the over 50-year-old building at Main and English. It was the long-time site of the county’s COVID vaccine clinic and that helped spark interest in bringing the building back to life once more. Mayor Brandon Whipple says he received several emails, social media posts and other communications about interest in the building during the time the clinic was active. So, when [...]

21 Friday, October 21

Affordable housing shortage in Wichita leaves hundreds of low-income residents nowhere to go

info2022-10-21T00:18:36-05:00October 21st, 2022|

"I just want a place where I pay rent that my children lay their heads, and I lay my head, to be suitable for us. We're not animals," said Heather Jay. Jay is in the process of applying for a Housing Choice Voucher, also known as Section 8. But she already lives in public housing and says it's a nightmare. "It's hard to find somewhere that will pass inspection because they do have to do an inspection," said Jay. But she's lucky to even have an apartment at a place that accepts Section 8. Source: KAKE - News

21 Friday, October 21

Topeka officials want change in response to vacant house fires

info2022-10-21T07:42:52-05:00October 21st, 2022|

After two vacant house fires yesterday, city officials are eager to bring change to Topeka. Councilwoman Karen Hiller and Christina Valdevia-Alcala have been working to create the "Changing our Culture of Property Maintenance" committee to improve city maintenance. Hiller says one way of preventing vacant house fires is to secure these vacant properties and monitor them to make sure no one is using them illegally. Source: KSNT 27 News

21 Friday, October 21

Topeka gives away 200 free weatherization kits

info2022-10-21T07:43:04-05:00October 21st, 2022|

Up to 200 free weatherization kits will be distributed to local residents this weekend. The Kansas Gas Service and the City of Topeka worked together to provide these free weatherization kits to help local residents prepare their homes for the coming winter. The kits will be distributed to those who signed up for them on Thursday, Oct. 20 at 215 SE 7th St. in downtown Topeka. “In anticipation of winter, Kansas Gas Service is proud to provide weatherization kits to our Topeka neighbors," said Lindsay Freeman, State Manager of Community Relations for Kansas Gas Service. "Weatherizing your home helps you save [...]