Powell: Fed Still Sees Rate Cuts This Year
Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that inflation picked up in January and February. "The recent data do not ... materially change the overall picture," Powell said in a speech at Stanford University, "which continues to be one of solid growth, a strong but rebalancing labor market, and inflation moving down toward 2% on a sometimes bumpy path." Most Fed officials "see it as likely to be appropriate" to start cutting their key rate "at some point this year," he added. (The Associated Press)
NJ’s 3 Nuclear Power Plants Seek To Extend Licenses for 20 Years
The company that owns New Jersey’s three nuclear power plants said Wednesday it will seek federal approval to operate them for another 20 years. The three power plants run by PSEG Nuclear LLC provide nearly half of New Jersey’s electricity. An extension would enable the plants to run beyond 2050.The company said it has notified the U.S. Nuclear Regulatory Commission of its intent to seek renewed licenses at the three power plants located on one site on Artificial Island in Lower Alloways Creek Township, Salem County. (The Associated Press)
N.J. Chamber ReNew Jersey Business Summit & Expo
A Jersey Story: Johnson & Johnson CEO Joaquin Duato Eager To Detail His Company’s Commitment to the State – and Desire To Increase It
Johnson & Johnson spent nearly $3 billion with New Jersey companies, including approximately $700 million with minority-owned businesses, just in 2022. J&J employs more than 14,000 in the state, and has more than 4,000 residents participating in clinical trials. The company estimates it has an overall economic impact of $10 billion in New Jersey – and has called New Brunswick its home since its founding 138 years ago. Perhaps the only thing J&J doesn’t do well in New Jersey is tell its Jersey story. CEO Joaquin Duato has been working to change that. (ROI-NJ)
Trenton Watch
An Update on Legislation in Trenton That Impacts Business
See the N.J. Chamber's roundup of business-related legislation advancing in Trenton, and where our government relations department stands on them. (N.J. Chamber of Commerce)
‘You Are Not Eliminating Pollution’: New Jersey Strikes Back Against NYC’s Congestion Pricing Plan
A federal judge in Newark is hearing oral arguments Wednesday in New Jersey's lawsuit over New York's first-in-the-nation congestion pricing. The lawsuit is one of several seeking to stop the new $15 toll for passenger cars driving into the heart of Manhattan. Starting in June, vehicles driving south of 60th Street from 5 a.m. to 9 p.m. weekdays would be charged but N.J.'s lawsuit says when the Federal Highway Administration signed off, it "failed to adequately consider the environment impacts" and "ignored the significant financial burden being placed on New Jerseyans and New Jersey's transportation system." (ABC-7)
Seton Hall Names Monsignor Joseph Reilly As Its 22nd President
Monsignor Joseph Reilly was named the 22nd president of Seton Hall, by the university's board of regents. Reilly will assume the role July 1. Reilly brings a deep knowledge of Catholic higher education, impressive administrative skills and personal experience as a Seton Hall student, alumnus, faculty member, administrator and priest. He takes over for Katia Passerini, who has served as interim president since July 2023. (ROI-NJ)
N.J. Chamber Member Discount
NJ Chamber of Commerce Members Save 20% on Communications Certificate Programs at Rutgers
The N.J. Chamber and the Continuing and Professional Studies department at Rutgers University’s School of Communication and Information have partnered to offer Chamber members a special discounted rate on three distinct certification programs: Business Communication Certificate, Public Relations Certificate and Crisis Communication and Reputation Management Certificate. To learn more about the programs, click here. To save 20%, email Rashad.Days@rutgers.edu and reference discount code: Chamber24.
|
