Powell’s remarks Friday follow comments from a raft of Fed officials this week, with most of them signaling that the Fed can afford to keep its key rate steady in the coming months.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World, News
Maine’s decades-old shrimp fishery, a victim of climate change, to remain closed indefinitely
The industry has been in a moratorium since 2013 in large part because environmental conditions off New England are unfavorable for the cold water-loving shrimp.
advertisement
Posted inBusiness, Maine, Morning Sentinel
Moscow residents approve ban on commercial solar farms
The Somerset County town of about 500 people is the latest to enact a measure against the developments, although there was some question as to whether it would hold up against a legal challenge.
Posted inBusiness, Maine, Morning Sentinel
Benton board agrees to reinstate tax abatement for resident contending with CMP substation noise
The Board of Select Persons this week approved the abatement for Melissa Patterson, who happens to be a member of the board, and there are eight others who are expected to ask the board to also have their abatements reapproved.
Posted inBusiness, Maine, News
Future of Shaw’s Supermarkets unclear post Kroger-Albertsons merger
Albertsons owns 19 Shaw’s stores in Maine that are part of a pending $24.6 billion takeover by Kroger.
Posted inBusiness, Nation & World
Thousands of fake Facebook accounts shut down by Meta were primed to polarize voters ahead of 2024
The accounts sported fake photos, names and locations as a way to appear like everyday American Facebook users weighing in on political issues.
Posted inBusiness, Nation & World
Drugmaker AbbVie to spend over $10 billion on ImmunoGen to juice its cancer-fighting treatment portfolio
Cheaper versions of the drugmaker’s all-time best seller, Humira, are cutting into its sales.
Posted inBusiness, Nation & World
Federal Reserve’s preferred inflation gauge shows price pressures continuing to cool
It’s the latest sign that price pressures are waning in the face of high interest rates and moderating economic growth.
Posted inBusiness
Pressure builds to eliminate fossil fuel use as oil executive, under fire, takes over climate talks
In an early victory, negotiators unanimously approved a plan to fund a new program to compensate poorer nations for climate change damage.
Posted inBusiness, Nation & World
Some OPEC+ members will cut the oil that they send to the world to try to boost prices
The OPEC oil cartel and allied producers have made another big swipe at propping up lagging crude prices.