Wednesday, October 23, 2024 | Baltimore, MD
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The Fed sees its inflation fight as a success. Will the public eventually agree?

With its larger-than-usual half-point cut to its key interest rate last week, the Federal Reserve underscored its belief that it’s all but conquered inflation after three long years. The public at large? Not so much. Consumer surveys, including one released Friday by The Associated Press-NORC Center for Public Affairs Research, show that most Americans remain unhappy with the economy, still bruised by an inflation rate that hit a four-decade high two years ago as the economy rebounded from the pandemic recession.

Read More: AP News
GM’s EV sales momentum is finally building as new vehicle lineup fills out

If everything had gone to plan for General Motors over the last three years, the Detroit automaker would be well on its way to catching Tesla in sales of electric vehicles. In October 2021, GM CEO Mary Barra declared the automaker would “absolutely” catch up to the U.S. EV leader by 2025. Instead, after slower-than-anticipated EV adoption across the industry and GM-specific challenges with production, software and supply chains, the company remains well behind Elon Musk’s carmaker, as well as Hyundai Motor/Kia and Ford Motor.

Read More: CNBC
Maryland poultry farmers urged to practice bird-flu security during fall migration

The Maryland Department of Agriculture is reminding Maryland poultry farmers to remain vigilant and practice enhanced biosecurity on their farms as the annual fall migration gets underway. Cases of Highly Pathogenic Avian Influenza (HPAI) continue to be detected in wild birds and poultry flocks in the Atlantic Flyway.

City, owner of Brewers Hill apartment complex at odds over rental license after pool problem prompts condemnation

The city and the owner of an apartment complex in Baltimore’s Brewers Hill that was partially evacuated due to structural problems are at odds over whether it had a rental license. A city spokesman said Monday that Axel Brewers Hill had been operating without a city rental license for nearly a year. A representative of Excelsior Communities, which bought the complex in 2021, said there’s been no lapse in its rental license.

 

Read More: Baltimore Sun
work flow
MD adds 2,700 jobs in August; unemployment remains below national average

Maryland added 2,700 total jobs in August, including 1,900 in the private sector, according to monthly data released Friday by the U.S. Department of Labor’s Bureau of Labor Statistics. Maryland’s growth rate in August matched the nation’s rate at 0.1%. Over the first eight months of the year, Maryland’s economy has added 31,800 jobs and grown by 1.2%, faster than the national rate of 0.9%.

David Rubenstein long ago moved on from Baltimore. Now he’s king of Birdland.

As a boy, David Rubenstein lived in a red-brick rowhouse house on Fallstaff Road in Northwest Baltimore. He went to City College high school, where he was friends with future Baltimore Mayor Kurt Schmoke and gravitated toward government and civics studies. At 75, he’s the fun-loving owner of the Orioles, turning up game after game at Camden Yards as the team limps toward the playoffs.

UPS to hire 6,000 in DC, Maryland ahead of holiday season

Six-thousand delivery jobs are up for grabs in the D.C. and Baltimore area, according to a new statement from UPS. Both seasonal and full-time jobs are included in the hiring push from UPS as part of a nationwide campaign to add 125,000 jobs over the 2024 holiday season. “There may be four less shopping days for the 2024 holiday season, but UPS … will be ready,” the courier service said Friday.

Read More: WUSA9
For home shoppers, the Fed’s big cut is likely just a small step towards affording a home

The Federal Reserve gave home shoppers what they hoped for this week: a big rate cut and a signal of more cuts to come. Even so, aspiring homebuyers and homeowners eager to refinance should temper their expectations of a big drop in mortgage rates from here. While the Fed doesn’t set mortgage rates, its policy pivot does clear a path for mortgage rates to go lower. But in this case, the Fed’s action was widely anticipated, so rates moved lower well before the cut was even announced.

Read More: AP News
Boeing machinists on picket lines prepare for lengthy strike: ‘I can last as long as it takes’

Cash-strapped Boeing is facing mounting costs from an ongoing machinist strike as workers push for higher pay. A failure to get a deal done could be even more expensive. In the shadow of a factory outside Seattle where Boeing makes its best-selling planes, picketing Boeing machinists told CNBC they have saved up money and have taken or are considering taking side jobs in landscaping, furniture moving or warehouse work to make ends meet if the strike is goes on much longer.

Read More: CNBC
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Warehouse near BWI Airport sells for $33.5M

The move is another indicator of the area’s strong industrial market that posted 860,000 square feet of leasing activity in the second quarter — the best leasing period since late 2022, CBRE statistics showed. Total leasing in Greater Baltimore in industrial facilities through the first half of the year was over 2.7 million square feet with much of that concentrated in facilities in Harford and Cecil counties and in the Baltimore-Washington corridor, the June CBRE report showed.

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