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The Fed’s rate cuts could have unintended consequences for the housing market

Over the past couple of years, the US economy has wrung out inflation like dirty mop water from just about every sector — except for the housing market, which remains paralyzed by high prices and chronically low supply. But the action that could help solve America’s home affordability crisis could potentially make it worse. To understand why, let’s take a look at how we got here.

 

 

Read More: CNN
Cigna Demands FTC Retraction in Escalating Drug-Price Fight

The FTC said it stands by its study. “Just three companies control nearly 80% of the market that millions of Americans must use to purchase necessary drugs at high costs,” an agency spokesman said. “This is a complicated and opaque market, and the FTC is committed to using its clear authority to help the public and policymakers understand it.”

Power 10: Janet Currie, Bank of America

There’s a lesson to be learned from the fact that Janet Currie has the job she does: It is possible to say no to a big opportunity and still succeed. Currie did. Years ago, Bank of America wanted to promote her and move her to Fort Lauderdale, Florida. The offer was tempting. But it didn’t work for reasons including her husband’s job and a desire to stay near extended family.

Once a favorite of white supremacists, New Balance is courting Black Baltimore

Kondwani Fidel says he began wearing New Balance sneakers right “out of the womb.” They’ve always been one of his go-to brands, along with Nike’s Air Force 1 shoes. Most of his friends wore them, too. They enjoyed the versatility of the shoe — whether that be wearing them with a suit jacket or to play hoops. “You couldn’t tell me I wasn’t fresh with New Balance,” he said. “That’s how we put fits together.”

 

A century-old printing company exits Baltimore, taking 144 jobs along with it

A printing company with a nearly century-long history in the Baltimore area is leaving the city, a move that potentially puts 144 people out of work. BC Graphics, which produces direct mail, is not renewing its lease on a South Baltimore industrial site and will shift its operations to facilities in Western Maryland, Virginia and Kansas, according to a company spokesperson. Edge Direct, a sister company based at the same facility, is also leaving Baltimore.

a red sports car is parked in front of a bank of america
Bank of America raises minimum hourly wage to $24 in MD

Bank of America announced it has raised its U.S. minimum hourly wage to $24 per hour in Maryland and nationwide, the latest step in the company’s commitment to a $25 hourly minimum wage by 2025. The announcement was made by Sheri Bronstein, Bank of America’s chief human resources officer. With the increase, the minimum annualized salary for full-time employees in the U.S. will rise to nearly $50,000.

 

 

Day to night in the inner harbor of Baltimore
Judge blocks ballot question to allow Inner Harbor redevelopment

An Anne Arundel County judge on Monday nullified a ballot question asking Baltimore voters to rezone part of the Inner Harbor, effectively killing an ambitious redevelopment proposal along the city’s waterfront in the process. The initiative, titled “Question F,” will still appear on city ballots this November, but the results for that vote will not be certified, Judge Cathleen Vitale, a former Republican state lawmaker, ruled.

Market to reopen with new stalls, grocery shop

Chef Maynard McMillan has been a regular at farmers markets around the area for years, but he didn’t see himself operating a brick-and-mortar until an opportunity arose with the reopening of one of Baltimore’s historic public markets. McMillan’s Nafasi Catering will be one of the new vendors joining the renovated Hollins Market, which will celebrate its grand reopening on Saturday, Sept. 21.

Outreach meetings on Investing in Workers and Workplaces Plan to begin this week

Outreach meetings for a new planning initiative that will focus on commercial and employment hubs in Frederick County are scheduled to begin this week. Earlier this year, the Livable Frederick Planning & Design Office and the Frederick County Division of Economic Opportunity started gathering information to inform the Investing in Workers and Workplaces Plan.

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Two Baltimore hotels get a nod from the Michelin Guide

Baltimore’s restaurants may not yet be on the Michelin radar, but two of the city’s hotels made it onto the travel guide’s list of top places to stay in the United States. The Ivy Hotel and the Sagamore Pendry Baltimore were among the Michelin Guide’s 2024 hotel recommendations. The listing bestows one, two or three “keys” for each recommended hotel, similar to its three-star system for restaurants.

Read More: Baltimore Sun

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