The Federal Reserve raised its benchmark interest rate to the highest level in 15 years, indicating the fight against inflation is not over. Fed officials believe raising rates reduce demand and ultimately pulls prices lower.—cnbc.com
Month: December 2022
World Bank Bumps Up India’s Growth Projection
The World Bank forecasts growth for India in the current year at 6.9%, as stronger consumption and more robust domestic activity are expected. A World Bank senior economist said India’s fiscal deficit is expected to decline over the next few years.—Bloomberg.com
US Government Calls for Continued Tariffs on Solar Imports
The Solar Energy Industries Association (SEIA) estimates that tariffs on solar modules could decrease U.S. solar installations by half over last year. SEIA estimates that tariffs could put 70,000 US solar jobs at risk. A small U.S. solar module supplier supports the tariff.—pv-magazine.com
November Jobs Report
U.S. employers added 263,000 jobs in November as hiring remained sturdy. The unemployment rate held steady at 3.7% but the labor force participation rate edged down to 62.1%, leaving it well below the pre-pandemic level of 63.4%.—USA Today
Rent Control Expands as Tenants Struggle With the Record-High Cost of Housing
Jim Lapides, of the National Multifamily Housing Council, believes rent controls that address rapidly rising rents and evictions help some families but harm others. Lapides says capping rents does not add to the housing stock and in the long term can lead to fewer affordable units.—npr.org