Home Industry Economy


Fed Board Softens Stance on Future Rate Hikes

As expected, the Federal Open Market Committee (FOMC) raised the fed funds target 0.25 percentage points to a range of 4.75%-to-5.00% on March 22. The FOMC softened their forward...

Unemployment Claims Rise as Fed Continues Rate Hikes

Applications for unemployment assistance went up slightly last week, though they remain at historically low levels. According to statistics released by the Labor Department Thursday, jobless claims in the U.S....

Consumer Confidence Up Slightly Amid Financial Crises

WASHINGTON — After dipping the last couple of months, consumer confidence was up a bit in March, according to a report from the Conference Board. The Conference Board reported Tuesday...

SECURE Act 2.0 Looks to Improve Retirement Benefits for American Workers

The SECURE Act 2.0 is designed to help companies improve the retirement packages they can offer their workers.

Whitmer Signs ‘Restoring Workers’ Rights’ Bill Package Into Law

Gov. Gretchen Whitmer signed a package of bills into law she says restore and protect workers' rights.

Expert: Bank Investors the Victims in Collision of Extreme Fiscal, Monetary Policies

The collision of extreme fiscal and monetary policies has finally arrived, with the victims being investors in banks with narrowly focused deposit, lending, and securities portfolio strategies. To be sure,...

In Wake of Another Fed Rate Hike, Unemployment Applications Fall

Despite yet another interest rate hike by the Federal Reserve, the Labor Department reported that U.S. applications for unemployment fell again last week.

Amid Banking Turmoil, Fed Raises Interest Rates Another Quarter-Point

In the wake of two of the largest bank failures in U.S. history, the Federal Reserve announced Wednesday it's raising its key interest rate another quarter-point.

Facebook Parent Meta Cutting Another 10,000 Jobs

For the second time in less than six months, Facebook parent company Meta is announcing a round of layoffs. After cutting 11,000 jobs back in November, Meta has announced it...

Unemployment Claims Drop; Fed Considers Next Steps

After applications for unemployment assistance rose last week by more than they had in the last five months, requests for help dropped last week. According to statistics released by the...

U.S. Economy Exceeds Expectations, Adds 311,000 Jobs in February

Chair Powell’s semiannual testimony before Congress and labor market data releases dominated the economic calendar this week.Powell noted recent data had reversed the softening economic trends observed in the...

State Senate OKs Bills Repealing Right-to-Work Law, Restore Prevailing Wage

Voting along party lines, the Michigan Senate Tuesday passed legislation that would repeal the state's right-to-work law and restore a prevailing wage.

Report: Michigan a Top State for Electric Vehicle, Battery Investments

A report from the Environmental Defense Fund shows Michigan is among the top states in the country for electric vehicle and battery investment.

GM Offering Early Separation as Part of Cost-Cutting Moves

Trying to hit $2 billion in cost savings, General Motors is offering voluntary buyouts to most of its salaried workers, according to multiple reports Thursday. The majority of the automaker’s...

Unemployment Applications Rise by Most in Five Months

The number of Americans seeking unemployment benefits jumped last week more than it had in five months. Applications for jobless claims rose by 21,000 in the week ending March 4,...

Trade Deficit Widens in Goods, Exports Up 4.2%: Experts

Slower accumulation of inventories and a wider trade deficit will drag on growth in early 2023. Inventory accumulation and a narrower trade deficit contributed roughly two-thirds of the 2.7%...

Study: U.S. Retail Sales Up 6.9% Year-Over-Year in February

PURCHASE, N.Y. — According to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, U.S. retail sales excluding automotive were up 6.9% year-over-year in February. Mastercard...

House Bills Would Repeal Right-to-Work, Restore Prevailing Wage Law

Michigan House Democrats passed legislation Wednesday that would repeal the state's right-to-work law and restore prevailing wage laws.

Whitmer Signs Tax Cut Plan Into Law

Gov. Gretchen Whitmer on Tuesday signed the Lowering MI Costs plan into law, cutting pension taxes and increasing the Working Families Tax Credit.

Coalition Launches to Expand Support for Entrepreneurs, Small Businesses

The New Economy Initiative and the Michigan Municipal League have partnered to launch an effort to help small businesses and entrepreneurs.
Click to access the login or register cheese