Fed Official Says Rate Cuts Could Slow in 2025
With uncertainty about the U.S. economy lingering, at least one Federal Reserve official is signalling the Fed’s rate cuts may need to be slowed down.
Susan Collins, the Federal Reserve...
Fed Cuts Key Rate Again, Eyes Fewer Cuts in 2025
The Federal Reserve cut its key interest rate another quarter-point Wednesday, but indicated there may be fewer cuts than anticipated in 2025.
Here Are 5 Reasons for Businesses to Bank Locally
Having recently recognized Small Business Saturday, it’s a good time overall to consider the vital role of small businesses, and of community banks as part of local economies across...
Fed Could Slow Speed of Interest Rate Cuts
Not long ago, when inflation continued to cool and the job market was slowing down, it looked like the Federal Reserve was getting set for a series of interest...
Private Equity Firm Blackstone Acquires Jersey Mike’s
MANASQUAN, N.J. AND NEW YORK – Jersey Mike’s Subs, a leading franchisor of fast-casual submarine sandwich stores, announced it has reached an agreement whereby private equity funds managed by...
Fed ‘Not Confident Infation Will Slow, But Cuts Rate Anyway
As virtually assured, the Fed lowered the federal funds target a quarter percent to a range of 4.50% to 4.75% at the November 7 decision, two days after the...
IRS Raising Standard Tax Deductions for 2025
U.S. taxpayers are going to have a higher standard deduction for 2025.
The Internal Revenue Service announced increases in its annual inflation adjustments when it released its annual inflation adjustments...
Fed’s Rate Cut Wasn’t Slam Dunk Among Committee Members
Retail sales likely rebounded in September after a lackluster increase in the prior month. Core retail sales, which exclude the volatile auto and gas components, are expected to have...
September Jobs Report Stronger Than Expected
Nonfarm payroll employment rose 254,000 in September, much better than the 150,000 consensus forecast, while July and August numbers were revised up a net 72,000 jobs, too.
With these...
U.S. Economy Showed 3% Second-Quarter Growth
The Commerce Department initially reported the U.S. economy grew at a healthy rate in the second quarter, and saw no reason to change its mind when it consider a...
Tupperware Voluntarily Seeks Bankruptcy Protection
ORLANDO, Fla. (PRNewswire) — Tupperware Brands Corporation, an iconic global brand, announced the company and certain of its subsidiaries have voluntarily initiated Chapter 11 proceedings in the United States Bankruptcy Court for...
Inflation Reaches 3-year Low as Fed Ponders a Rate Cut
Most observers expected the Federal Reserve would finally cut its prime interest rate if inflation dropped closer to its 2% target.
We’re about to find out if they were right.
U.S....
Henry Ford Health, Ascension Michigan Announce Closing Date for Proposed Joint Venture
Henry Ford Health and Ascension Michigan, who announced plans for a merger last fall, will close the deal Sept. 30.
Pent-Up Demand Could Lead to Resurgent M&A Market in 2025
Some statewide experts feel 2025 could be a banner year in the mergers and acquisitions space, despite the fact the pre-pandemic M&A market in Michigan – which was hot...
Fed Chair Indicates Interest Rate Cut Could Be Coming Soon
With the job market cooling a bit and the inflation rate hovering just above 3%, Fed Chair Jerome Powell indicated a rate cut may be coming soon.
West Shore Bank’s Biggs Named Michigan Bankers Association Board Chair
LANSING, Mich.- The Michigan Bankers Association announced the election of Ray Biggs, president & CEO, West Shore Bank, as Chairman of the Board of Directors.
"Ray is a talented business...
Despite Inflation Progress, Fed Sees Only One Rate Cut This Year
When the year started and with inflation cooling off, economists were optimistic the Federal Reserve would cut interest rates several times this year.
Now, even though Fed officials recognize the...
T-Mobile to Acquire UScellular Wireless in $4.4 Billion Deal
BELLEVUE, Wash. – T-Mobile and UScellular announced that T-Mobile has agreed to acquire substantially all of UScellular’s wireless operations, including UScellular’s wireless customers and stores, as well as certain specified...
Fed: Economic Data Doesn’t ‘Meet Bar’ to Justify Cuts
At Wednesday’s Fed decision, the Federal Open Market Committee said the first quarter’s economic data didn’t reach their high bar to justify interest rate cuts. However, the Fed is...
Gas Prices, Auto Sales Likely Impacted Retail Spending
Retail sales growth likely slowed in March as gasoline prices rose more slowly and new car and truck sales pulled back from February’s level.
Core retail sales excluding gasoline stations...
