Robert McDermott, the former Philadelphia budget director, has joined PFM as a director for its workforce consulting team. PFM Robert McDermott, the former Philadelphia budget director, has joined PFM as a director for its workforce consulting team. McDermott is the latest veteran of Philadelphia’s finance department to join PFM, part of the firm’s ongoing strategy to
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The Federal Reserve announced Wednesday that it will lower its benchmark rate by another quarter point, or 25 basis points. This marks the third rate cut in a row — all together shaving a full percentage point off the federal funds rate since September. For consumers struggling under the weight of high borrowing costs after
Stay informed with free updates Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox. The Federal Reserve cut its benchmark interest rate by a quarter of a percentage point but signalled a slower pace of easing next year, sending the dollar higher and US stocks lower. The Federal
Tim Kitchen | The Image Bank | Getty Images There may not be a lot of homes for sale these days, but there is a lot of housing space sitting empty. In fact, the most in recorded history. The number of extra bedrooms, which is defined as a bedroom in excess of the number of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rachel Reeves will next month head a delegation of leading bankers to Beijing to seek closer ties across a range of financial services, while quietly sidelining security fears over the UK-China relationship. The chancellor has
After the Pinellas County Commission approved bonds to help fu nda replacement for Tropicana Field, the team resurfaced a demand for more money, which had previously been rejected.Bloomberg News After the Pinellas County Commission approved $312 million of bonds to help finance construction of a professional baseball stadium, an old obstacle to the deal reappeared,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Nigel Farage has confirmed he is in talks with Elon Musk about the tech billionaire making a donation to his populist Reform UK party. Loopholes in British electoral law mean such a donation could be
“The RFK Stadium bill is a win-win for the federal and D.C. governments,” said Congresswoman Eleanor Holmes Norton. ”It would allow D.C. to transform the crumbling, long-vacant campus from acres of asphalt to a complex focused on community sports, recreation, park space and cultural amenities. Additionally, this bill would allow D.C. to create a mixed-used development
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Worries over the stagnating UK economy and accelerating inflation are unnerving investors, pushing borrowing costs to their biggest premium over German debt yields since 1990. The spread between the two countries’ bonds has risen above
€69 per month Complete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics & set alerts with myFT
Washington Gov. Jay Inslee introduced a 2025-27 biennium budget proposal Tuesday he says will need to account for billions in increased costs due to inflation.Washington office of the governor Washington Gov. Jay Inslee released a proposed balanced, belt-tightening, biennium budget for 2025-27 in response to $12.6 billion in increased costs to the state due to
“I think the update does try to capture some of the new trends and how the industry has evolved,” said Dan Aschenbach, owner of AGVP Advisory and an author of a new NFMA paper on recommended best practices in disclosure for public power agencies and utilities.Dan Aschenbach Investors in public power bonds are looking for
Eyecrave Productions | E+ | Getty Images Buying a house is not easy or cheap, especially in today’s market. But while it’s too soon to tell whether the housing market is going to favor buyers or sellers next year, some areas will offer more favorable market conditions than others, according to a new report by
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The writer directs the Center on the US and Europe at the Brookings Institution European capitals are contemplating the return of Donald Trump on January 20 with a degree of unease. The US
The Ohio Statehouse in Columbus. Legislators are down to the wire on a $2.5 billion general obligation bond authorization, which they hope to pass Wednesday.Adobe Stock Ohio legislators plan to vote Wednesday on a resolution that would put a $2.5 billion general obligation bond measure on statewide ballots May 6. The measure, which would not
Stay informed with free updates Simply sign up to the UK house prices myFT Digest — delivered directly to your inbox. London rents rose at the fastest pace on record in November, according to official data that highlights the intensifying pain for tenants after two years of rising costs. Rents in London increased by 11.6
Chicago Mayor Brandon Johnson got his budget through the City Council on Monday, without a proposed property tax increase.Bloomberg News After multiple attempts, Chicago Mayor Brandon Johnson got his 2025 budget through the City Council, without the property tax increase he proposed in October. The final $17.3 billion budget narrowly passed Monday, 27-23, less than
Jeff Greenberg | Universal Images Group | Getty Images Mortgage rates moved markedly higher last week, causing overall mortgage demand to drop. Total application volume fell 0.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. That was the first decline in five weeks. The average contract interest rate for
Colorado’s new voter-approved gun initiative has a target unlike those of previous measures meant to reduce gun violence. The tax on guns and ammunition is meant to generate revenue to support cash-strapped victim services, and it’s an open question whether it will affect firearms sales. Use Our Content It can be republished for free. More
Share Tweet By Billy Hallowell Editor December 17, 2024 A new survey of thousands of American college faculty yielded some shocking results on free speech and academic freedom, with nearly three-in-10 professors stating they feel unable to speak openly over fears about how students, fellow faculty, and administrators might respond. This is just one of
Talk about great timing: Enigma has become the go-to app over the last month for people to share and discover videos of the mysterious drones flooding the Northeast skies. The New York-based company has many similarities to the popular app Citizen: Enigma invites users to post videos of what theyre seeing and provide the location
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