Economic Recovery & Reopening update: 11/2/2022

NJ Chamber
Economic Recovery & Reopening Update

November 2, 2022

Content Curated By Scott Goldstein



  • Big question for The Fed: Will rate hikes slow as soon as next month?


  • Maybe N.J. should let residents grow their own pot, Gov. Murphy suggests.


  • Horizon BCBSNJ – New Jersey's largest insurer – approved to become a nonprofit.

Question for The Fed: Will Rate Hikes Slow as Soon as Next Month?

Looming over the Federal Reserve meeting that ends Wednesday is a question of intense interest: Just how high will the Fed’s inflation-fighters raise interest rates – and might they slow their rate hikes as soon as next month? The Fed on Wednesday is expected to announce a hefty three-quarter-point hike in its key short-term rate — its fourth straight — which will lead to still-higher loan rates for many businesses and consumers. (The Associated Press)


Maybe New Jersey Should Let Residents Grow their Own Pot, Gov. Murphy Suggests

Gov. Murphy signaled he would be open to letting New Jersey residents be allowed to grow their own marijuana. “I'm of the opinion that we should revisit that question at some point, and I'm not sure when the right time is to revisit it,” Murphy said in an answer to a caller on a radio show. “I think we need to get the industry probably either more on its feet or completely on its feet.” (Gothamist)


After Nearly 30 Years, Ambulance Squads May Get a Raise

New Jersey’s Medicaid rate is now capped at $58 per ambulance run – set by the state 30 years ago. It is among the lowest nationwide. At this rate, ambulance squads lose money on as many as half their outings, first responders said. Lawmakers are working to increase the payment. (NJ Spotlight News)


Horizon BCBSNJ – New Jersey's Largest Insurer – Approved to Become Nonprofit Mutual Holding Company

The state Department of Banking & Insurance approved an application by Horizon Blue Cross Blue Shield of New Jersey to reorganize its corporate structure as a nonprofit mutual holding company. New Jersey's largest insurer – 3.6 million people covered – won approval from the state under a set of conditions, including maintaining financially safe and sound insurance subsidiaries. (ROI-NJ)


How to Structure an Agenda for a Large Team Meeting

Setting a meeting agenda can help the gathering run smoothly – especially when hosting a large group. Use these tips to create an agenda that maximizes productivity and ensures everyone's ideas are heard. (U.S. Chamber of Commerce)


N.J. Chamber’s Atlantic City Business Summit & Expo to Return

The N.J. Chamber of Commerce announced it will host another two-day Summit & Expo, March 14-15 at Harrah’s Resort in Atlantic City. It will provide a multiday program of information and tools that businesses can use to grow their bottom lines. “The 2022 summit was a hit, and we expect next year’s to be bigger and better,” N.J. Chamber President Tom Bracken said. (ROI-NJ)

This Thursday

Nov. 3 - DEI Trailblazer Awards Reception

Walking the Walk: Celebrate New Jersey's Champions of Diversity

We will recognize N.J. companies that are demonstrating real progress in diversity, equity and inclusion. Join the N.J. Chamber and African American Chamber of N.J. at the Olde Mill Inn in Basking Ridge for networking, cocktail hour and an award ceremony. For more information and to register, click here. (N.J. Chamber of Commerce)


Looking to Get Vaccinated? Here's an Easy Way to Find COVID-19 Vaccines Near You.

Just punch in your area code. You can even search for a specific vaccine. (

Were you forwarded this newsletter? For more information about the N.J. Chamber, email [email protected]
Business Resources

Surviving a Recession (U.S. Chamber of Commerce)


Vaccine Guide for Businesses (U.S. Chamber of Commerce)


Election Day is Nov. 8 (U.S. Chamber of Commerce)


General Pandemic Information (State of N.J.)


Business Funding Opportunities Provided by the State (State of N.J.)


Starting a Business in N.J. (New Jersey Business Action Center)


Becoming a Government Contractor (State of N.J.)


Recognizing Cannabis Impairment at Work  (State of N.J.)


Emergency Preparedness (N.J. Business Action Center)

The Best Tool for Your Business - Membership in the N.J. Chamber
The N.J. Chamber provides members with guest speakers, webinars, networking opportunities and discount programs that help businesses grow. The N.J. Chamber also advocates for pro-growth and pro-business legislation.
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The New Jersey Chamber of Commerce is staying on top of pandemic and economic recovery developments. For news media requests, please email Scott Goldstein.
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