Day: June 14, 2023

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Fed pauses rate hikes, sees two more ahead this year

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Fed rate decision June 2023: Fed pauses rate hikes, sees two more ahead this year

After a two-day meeting, the Federal Reserve decided to leave interest rates unchanged. “Holding the target range steady at this meeting allows the Committee to assess additional information and its implications for monetary policy,” the central bank’s post-meeting statement said. The surprising aspect of the decision came with the “dot plot” in which the individual members of the FOMC indicate their expectations for rates further out. The dots moved decidedly upward, pushing the median expectation to a funds rate of 5.6% by the end of 2023.

Closing Down Washington Avenue During the Daytime Makes a Lot of Sense

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Last week, the Albany Police 👮closed down Washington Avenue between Dove Street and Eagle Street, ostensibly because of the Poor People’s Campaign protest as the Fort Orange Club, even though the protesters weren’t actually blocking the street.🙈

I liked how the street closure made it easy for pedestrians to cross the street, to get on with the business of the day, visit the bank, businesses and other state offices. 🏢It also seemed to reduce noise and air pollution.🚗🚌🚚 I can understand how the street closure was a pain for motorists and bus riders — it would have been a short walk to Lark or Eagle Street to catch the bus  — but it also made Downtown Albany more livable and enjoyable.🚶

I think the city should consider closing down Washington Avenue between Lark Street and Eagle Street during weekdays,😎 especially in the summer, when people are out and about getting lunch and crossing the road conducting their business.💼