Free Republic

New Yorkers would be forced to pay 2.5 times the market rate for electricity generated by the Empire Wind One offshore wind farm if the deal goes through, according to an independent financial analysis. The Trump Administration paused construction of the controversial project — 54 turbines in the Atlantic Ocean some 14 miles south of Long Island — last week, saying it needs further review. The project has seen strong backing from Gov. Kathy Hochul and Mayor Eric Adams. Trump’s move was welcomed by those who claim the project is going to overcharge taxpayers. “New Yorkers are entitled to clean,...

Key Points The consumer price index for both all-items and core increased 0.2% in February, slightly below expectations. On an annual basis, headline inflation was at 2.8%, while core was at 3.1%. Both also were 0.1 percentage point below the Wall Street consensus and the previous month’s levels. The report provided some relief as consumers and businesses worry about the looming impact tariffs might have on inflation ==================================================================== Prices for goods and services moved up less than expected in February, providing some relief as consumers and businesses worry about the looming impact tariffs might have on inflation, the Bureau of...

Just 17.9 percent of U.S. adults have gotten a COVID-19 vaccine, and 34.7 percent have received an influenza vaccine during the 2024-25 respiratory disease season, according to a new report from the Centers for Disease Control and Prevention (CDC). The report, published Thursday, notes that 35 percent of adults are open to receiving an influenza vaccine, 41 percent are willing to get a COVID-19 vaccine and 40 percent are open to getting a vaccine for RSV.

Consumer prices rose slightly in September as the Federal Reserve prepared to cut interest rates and ease off the brakes of the U.S. economy. The consumer price index, a closely watched gauge of inflation, rose 0.2 percent in September and 2.4 percent over the previous 12 months, the Bureau of Labor Statistics announced Thursday. The annual inflation rate was the lowest since February 2021. Economists expected prices to rise 0.1 percent in September and 2.3 percent annually, according to consensus estimates, down from 2.5 percent in August. The new inflation data comes less than a month before the election, in...

For a 30-year fixed-rate mortgage, the average rate you’ll pay is 6.27% today, a decrease of -0.17% since one week ago. The average rate for a 15-year fixed mortgage is 5.53%, which is a decrease of -0.25% from the same time last week. For a closer look at mortgage predictions this week, see here. With inflation at its lowest level since spring 2021 and a weakening labor market, the Federal Reserve is set to make its first interest rate cut in September, which should help mortgage rates fall in the coming months. Generally speaking, bad news for the economy means...

The U.S. added 114,000 jobs in July and the unemployment rate rose to 4.3 percent, according to data released Friday by the Labor Department. Economists expected the U.S. to add 175,000 jobs and keep the jobless rate steady at 4.1 percent, according to consensus estimates. The July jobs report comes two days after Federal Reserve officials hinted that they could begin cutting interest rates as soon as September. As both inflation and the U.S. job market keep cooling off, the Fed is aiming to bring rates down quickly enough to avoid a deeper slowdown, but slowly enough to keep prices...

Leftists are desperate to have the Federal Reserve cut interest rates, believing that higher rates are hampering the “country’s ability to combat the climate crisis.” As the media increasingly speculates about the prospect of the Federal Reserve cutting rates in September, clean energy companies and their backers on Wall Street are hoping that the presumed rate cuts would alleviate the heavy borrowing costs for “Big Renewables” over the last two years. Charlie Gailliot, a global cohead of climate at the private equity firm KKR, said, “The energy transition is very capital-intense. In a lower rate environment, you’ll see a tailwind...

The U.S. economy grew at an annualized rate of 2.8 percent in the second quarter of 2024, according to new Commerce Department data released Thursday. Economists had expected gross domestic product (GDP) to grow by 1.9 percent in the three-month period between April and June, closer to the 1.4 percent growth posted in the first quarter of the year. The strong report comes as the Federal Reserve is set to meet next week to consider changing interest rates, which it has held steady since last July. The central bank has kept rates at a two-decade high, as inflation has remained...

The unemployment rate in the Gaza Strip has soared to nearly 80 percent amid the Israel-Hamas war that has been raging since October, according to a United Nations labor agency report released Friday. The war has caused a massive amount of job loss, bringing the unemployment rate in Gaza to 79.1 percent, according to the International Labour Organization’s (ILO) assessment. Unemployment in the West Bank, which has also been rocked by the conflict, has reached 32 percent. The unemployment rate across both territories now sits at 50.8 percent. The unemployment numbers do not account for those people who have left...

DENVER (KDVR) — Each year, U.S. News and World Report releases a report ranking each state on several factors. In the most recent report, Colorado made a top 10 list — for most dangerous states. On Thursday, U.S. News and World Report released the “10 Most Dangerous States in America” list. Each of the 50 states was judged on violent crimes and property crime rates. Colorado was recognized as the third most dangerous state, largely in part because of its property crime rate. The report pulled violent and property crime numbers from the Federal Bureau of Investigation’s Crime Data Explorer....

Secretary of Transportation Pete Buttigieg dismissed the idea that Washington, DC, is experiencing a rise in crime, pointing out that a “lot of energy” was going into painting the narrative. During an interview with MSNBC host Jen Psaki on Sunday, Buttigieg highlighted how he was able to “safely walk” his dog in the nation’s capital without any problems. Buttigieg, like many other elected officials, is provided with a security detail.

Job growth surged in March, as employers added 303,000 positions and the unemployment rate edged down, the Bureau of Labor Statistics reported Friday. Why it matters: The U.S. labor market has proved remarkably resilient over the last year, as employers keep seeking workers despite a bumpy economic environment. The latest numbers affirm that strength, handily beating analysts' forecasts. By the numbers: The jobless rate fell as more people entered the work force — a good sign for growth potential. The labor force participation rate rose by 0.2 percentage points to 62.7%. Average hourly earnings were up 0.3%, and are up...

The jobless rate rose to 3.9%, up from 3.7% in January, even as employers added 275,000 jobs, the Labor Department said. Its monthly report is being closely watched for clues into how the world's largest economy is absorbing the jump in borrowing costs since 2022. The latest numbers sent mixed signals. Overall, analysts said there was little in the report to fuel major worries or raise fears that the economy would be harmed by higher interest rates. "Overall things still looking good," said Harvard professor Josh Furman, a former economic advisor to Barack Obama, on social media, while adding that...

Federal Reserve chairman Jerome Powell is not known for his resolve. It’s the main reason why the new and emerging consensus among Wall Street Fed watchers is that he will cut interest rates at least twice this year despite signs of persistent inflation, the Post has learned. If the CEOs and top executives who follow the Fed can be believed — and these folks have sources inside the central bank’s building in DC — Powell is already brushing off last week’s high inflation reads as a likely anomaly. His first rate cut since he started to raise them in March...

As a follow up to my thread* discussing (among other things) wimpy kitchen faucet flow rates, I stumbled across this single temperature (almost always cold water) faucet at my local Menards: https://www.menards.com/main/kitchen/kitchen-faucets/plumb-works-reg-single-handle-drinking-water-faucet/5146ss/p-1444429309019-c-8509.htm That's more like it, as the faucet has a flow rating of 4.94 gallons per minute (18.7 liters per minute) at 60 psi. Now, that's getting somewhere! Somewhere on Amazon I found a somewhat similar unit from so "never-heard-of-'em" Chinese brand, said faucet rated at 6.something"gallons per minute. Unfortunately I did not save the item to my Amazon "list" or cart "save for later", and now I can't...

The US Federal Reserve’s favored measure of inflation ticked higher last month, according to government data published Friday, indicating that its long-running battle against rising prices is not over yet. The latest announcement will likely ensure the US central bank keeps interest rates on hold at its next decision announcement on Wednesday, as policymakers continue talks on when to start cuts. The personal consumption expenditures (PCE) price index rose at an annual rate of 2.6 percent last month, unchanged from November, the Department of Commerce said in a statement. On a monthly level, headline PCE inflation rose by 0.2 percent...

The Federal Reserve left interest rates unchanged on Wednesday, the first time in nearly two years that the central bank paused rates over the course of two consecutive meetings. Since March 2022, the Fed has hiked the federal funds rate from near-zero percent to a range of 5.25 to 5.5 percent in an effort to curb rampant inflation. Price growth upeneded the economy in the wake of the pandemic and Russia’s invasion of Ukraine, which helped push volatile energy prices higher.

The U.S. added 187,000 jobs, and the unemployment rate rose to 3.8 percent in August, according to data released Friday by the Labor Department. The jobs report showed the labor market plateaued in August as the Federal Reserve considers another interest rate hike. Economists expected the U.S. to have gained 170,000 jobs and maintain the July jobless rate of 3.5 percent, according to consensus estimates. While the jobless rate rose 0.3 percentage points in August, the labor force participation rate rose 0.2 percentage points after being largely flat since March. The Fed has hiked interest rates to their highest level...

Last year, production at American factories increased — and so did the production of factories themselves. According to data from the Census Bureau released last week, construction spending by US manufacturers more than doubled over the past year. For April 2023, the annual rate reached nearly $190 billion compared with $90 billion in June 2022, with manufacturing accounting for around 13% of non-government construction. The US government has offered billions of dollars in subsidies for the production of electric vehicles and solar panels to compete with countries such as China and to fortify US leadership in sectors including clean energy....

Consumer prices rose 0.4 percent in April to hit an annual increase of 4.9 percent, according to inflation data released Wednesday by the Labor Department. That’s the lowest annual inflation rate since April 2021. The consumer price index (CPI), which measures everything consumers spend money on from rent to gasoline, showed inflation accelerating slightly in April, in line with expectations but falling on an annual basis. Economists had been expecting prices to accelerate by 0.4 percent in April, up from 0.1 percent in March, and projected annual inflation to hold steady at a 5 percent.