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Ex-Regional Fed President: Inflation Headed Lower, With Interest Rates Likely To Follow

WASHINGTON (AP) — Having worked in the Federal Reserve system her entire career, Loretta Mester rose to become president of the Cleveland Fed for a decade until her retirement on June 30. During most of her years on the Fed’s interest-rate-setting committee, Mester was likely to favor relatively higher interest rates to contain inflation. This stance earned her the label of “hawk,” which describes officials who typically worry most about controlling inflation. (“Doves,” by contrast, tend to focus more on keeping rates low to maximize employment.) Yet in a recent interview ...

Firsthand Look

Key members and supporters of Retool’24 visited the manufacturing sites of Artone LLC and New Flyer following the conference that was held recently at the Chautauqua Harbor Hotel. The tour group included professionals from the Jamestown Board of Public Utilities, the New York State Energy ...

Rent Inflation Remains A Pressure Point For Small Businesses

NEW YORK (AP) — Cost pressures continue to hurt small businesses. In particular, rent inflation is a pressure point for small businesses, according to new data from the Bank of America Institute. The average monthly share of rent in total payments through May is 9.1%, up significantly from ...

The US Housing Slump Deepened This Spring

LOS ANGELES (AP) — The housing market shows few signs of busting out of its three-year funk after a disappointing spring season and amid a gloomy outlook for the summer and fall. Home shoppers came into 2024 with optimism that mortgage rates would ease further after a decline late last year. But those hopes faded as stronger-than-expected data on inflation and the economy clouded the timing of a possible rate cut by the Federal Reserve. By April, the average rate on a 30-year home loan moved above 7% for the first time since November. That, plus record-high home prices, forced many ...

CEO On Keeping America’s Oldest Flour Company In The Mix

As America’s oldest flour company, King Arthur Baking Co. has seen a lot. It opened in 1790, when George Washington was president. But little could have prepared it for the start of the coronavirus pandemic, when demand for King Arthur’s products jumped six-fold almost overnight. The company, based in Norwich, Vermont, scrambled to manage supply chains, ramp up production and to focus on in-demand items like bread flour. CEO Karen Colberg, who worked in marketing at Gap Inc. before joining King Arthur in 2005, says the company leaned into its strengths. King Arthur already had a ...

Improving Support

Richard Erickson was re-elected the chair of The Resource Center’s board of directors during the agency’s general membership meeting, held at TRC’s Michael J. Raymond Center on Jones and Gifford Avenue in Jamestown. Also elected as officers for the board’s 2024-25 term were Dr. Dawn ...