The Federal Reserve pushed the pause button on its interest rate cuts Wednesday, leaving its key rate unchanged at about 3.6 percent after lowering it three times last year.
More than 60 CEOs of Minnesota-based companies including Target, Best Buy and UnitedHealth signed an open letter posted on the Minnesota Chamber of Commerce website on Sunday calling for state, local and federal officials to work together.
Two Minnesota cities have delayed spending federal housing funds because they’re unsure they can meet new grant requirements from the Department of Housing and Urban Development.
Minnesota labor unions, community activists and faith leaders are organizing the economic blackout, dubbed “ICE Out of Minnesota: Day of Truth and Freedom.”
Minnesota state auditor Julie Blaha —joined by state treasurers from blue states Colorado, Washington, and Massachusetts—warned that if political interference on the Federal Reserve takes hold, the risk is inflation could rise quickly.
The Lake Street Council’s director of operations outlined the challenges some businesses are facing ahead of what’s being called a “general strike” scheduled for Friday.
The Minnesota Department of Employment and Economic Development says job growth in the state between November and December in the state was largely flat, and the unemployment ticked up slightly to 4.1 percent last month.
Agriculture Secretary Brooke Rollins had previously announced that nearly $130 million in federal funds for Minnesota would be paused, citing alleged fraud in the state. Now, the USDA is allowing some of that funding to go through.
The eight European countries targeted by U.S. President Donald Trump for a 10 percent tariff for opposing American control of Greenland blasted the move Sunday, warning that his threats “undermine transatlantic relations and risk a dangerous downward spiral.”
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