Inflation Soared 7% in the Past Year, the Most Since 1982
A 7% spike in U.S. inflation
in December from a year earlier is increasing household expenses, eating into wage gains and putting pressure on the Federal Reserve to address the threat to the U.S. economy. Prices have risen sharply for cars, gas, food and furniture as part of a rapid recovery from the pandemic recession that was fueled by vast infusions of government aid and emergency intervention by the Fed, which slashed interest rates. As Americans have ramped up spending, supply chains have been squeezed by shortages of workers and raw materials. (The Associated Press)
Scientists: There are Signals that the Omicron Wave May Have Peaked in Britain and Will Soon Do the Same in the U.S.
Scientists are seeing signals that COVID-19's alarming omicron wave may have peaked in Britain
and is about to do the same in the U.S., at which point cases may start dropping off dramatically. The reason: The variant has proved so wildly contagious that it may already be running out of people to infect, just a month and a half after it was first detected in South Africa. At the same time, weeks or months of misery still lie ahead for patients and overwhelmed hospitals even if the drop-off comes to pass. (The Associated Press)
Webinar at Noon Tomorrow, Jan. 13, on Status of Vaccines in N.J.
With much in the news about new variants, boosters and the possible approval of a vaccine for children 12 and under, the governor's office and the state Health Department is holding an information webinar on the status of vaccines in New Jersey at noon tomorrow, Jan. 13. To register, click here
. (State of New Jersey)
N.J. Chamber Reaction to Yesterday's State of the State Address
Tom Bracken, president of the New Jersey Chamber of Commerce, said Gov. Phil Murphy deserves credit for the state’s work fighting the pandemic, which has helped keep businesses open – after an initial shutdown of many. Bracken, however, said more needs to be done for small business. "The governor said small business is the backbone of New Jersey’s economy. That backbone needs more help now as it deals with a pandemic going on two years old." Read the full article here
U.S. to Lease Nearly 500,000 Acres for Wind Power Development off the Coast of New Jersey and New York
The federal government will lease an area larger than half the size of Rhode Island off New Jersey’s and New York’s coasts for wind power development
, the first offshore lease in the Biden Administration, Interior Secretary Deb Haaland said Wednesday. The closest distance to New Jersey among the parcels is 27 nautical miles offshore, according to the bureau. The auction is set for Feb. 23, with a public hearing about the proposal set for Jan. 19. (The Associated Press)