View Comments Twenty-seven-mile system for protecting Portland from Columbia River floods will get financial and technical help from the U.S. Army Corps of Engineers. In a major boost that could bring considerable federal resources this way, the U.S. Army Corps of Engineers on Thursday designated the Portland levee flood-control system for a New Start Feasibility Study. The federal agency will contribute $3 million over the next three years to study the 27-mile levee system that protects the area from Columbia River flooding, said Colin Rowan, program manager for Levee Ready Columbia. Usually the feds supply more than half the costs for the recommended projects that arise from the New Start program, often 65 percent to 80 percent of the costs, Rowan said. A D V E R T I S I N G | Continue reading below"This is a reinfusion of federal dollars to continue to support the levees," he said — probably the biggest federal contribution to the levee system since the 1930s and 1940s. … [Read more...] about Feds come to rescue of Portland levee system
WASHINGTON — The Federal Reserve will meet this week to assess an economy that has just enjoyed a healthy spurt of growth but faces a flurry of trade fights pushed by President Donald Trump that could imperil that growth over time. If those concerns weren’t enough, Trump has openly expressed his displeasure at the Fed’s interest rate increases — something no president has done publicly in more than two decades. No one expects the Fed to announce a rate increase when its latest policy meeting ends Wednesday. But the central bank is widely expected to set the stage for tightening credit again in September for a third time this year and then likely raise rates once again by December. This year’s rate increases follow three hikes in 2017 and one each in 2015 and 2016. The central bank’s rate increases — to a still-low level — reflect the economy’s resilience and are intended to prevent growth from overheating or inflation from … [Read more...] about Fed is set to leave interest rates alone
Federal Reserve Chairman Jerome Powell gave lawmakers an upbeat assessment of the economy and said he expects the Fed to keep increasing interest rates gradually. He said solid job gains and strong economic growth has enabled the Fed to dial back the "extra boost" it implemented during the financial crisis and recession. In his semi-annual testimony to Congress on Tuesday, Powell described the Fed's process for slowly raising interest rates as "running smoothly." He said the Fed forecasts the job market to remain strong and inflation to stay near 2 percent over the next several years. Powell cited trade and tax legislation as among the uncertainties that could alter his forecast. It is "difficult to predict the ultimate outcome of current discussions over trade policy as well as the size and timing of the economic effects of the recent changes in fiscal policy," he said. The Fed has lifted its key policy rate twice this year. It signaled last month that it expected two more hikes this … [Read more...] about Fed leader bullish on U.S. economy, expects rates to keep rising
Federal Reserve Chairman Jerome Powell said Thursday that the economy is in a "good place" at the moment with low unemployment and inflation rising toward the Fed's optimal range. But he says rising trade tensions and higher tariffs could end up being a drag on growth. In an interview for American Public Media's "Marketplace" radio program, Powell gave an upbeat assessment of the economy, in remarks signaling that the central bank's current pace of gradual interest rate increases should continue. The Fed has raised rates twice this year and is projecting two more rate hikes before the year is over. "I think the economy's in a really good place," Powell said, noting that unemployment, currently at 4 percent, is at its lowest point in nearly two decades. "This strengthening, tightening labor market that you know we've been supporting with low interest rates has really been working for American workers and families." Powell said that inflation, after a prolonged period of falling below … [Read more...] about Fed Chair Powell says economy in ‘good place’ at moment
California DMV customers angry over rising wait times Customers across California are experiencing rising wait times at the Department of Motor Vehicles. People at the Sacramento South field office on July 26, 2018 were particularly frustrated. By Up Next × SHARE Customers across California are experiencing rising wait times at the Department of Motor Vehicles. People at the Sacramento South field office on July 26, 2018 were particularly frustrated. By Capitol Alert The go-to source for news on California policy and politics Capitol Alert Drivers are fed up with the DMV. So are California lawmakers. By Bryan Anderson [email protected] LinkedIn Google+ Pinterest Reddit Print Order Reprint of this Story July 30, 2018 12:01 AM Tyré Nichols had no clue what he was getting himself into. He went online, arrived at the office at 9:45 a.m. and brought all his necessary paperwork. He expected to be in … [Read more...] about Drivers are fed up with the DMV. So are California lawmakers.