04-20-2018  5:42 am      •     
The Skanner Report
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NEWS BRIEFS

April 24 is Voter Registration Deadline for May 15 Primary Election

Tuesday, April 24, is voter registration and party choice deadline for May 15 Primary Election ...

Portland Libraries Celebrate National Poetry Month

April poetry events and recommended reading from Multnomah County libraries ...

PCRI Launches the Pathway 1000 Implementation Plan

Pathway 1000 a bold and ambitious 10-year displacement mitigation initiative ...

AG Rosenblum Launches New Resource on Oregon’s New Gun Safety Laws

One-page handout aims to educate Oregonians about the new law ...

Ethos Music Center Honors Portland Attorney Dave Baca with Annual Resonance Award

Founder Charles Lewis to receive first-ever Ethos Visionary Award at the May 2 event ...

U.S. & WORLD NEWS

OPINION

Will HUD Secretary Ben Carson Enforce the Fair Housing Act?

Julianne Malveaux questions HUD Secretary Ben Carson’s ability to enforce the Fair Housing Act ...

Waiting While Black in Philadelphia Can Get You Arrested

Reggie Shuford on the daily indignities African-Americans face in Philadelphia and around the country ...

Black People Must Vote or Reap the Consequences

Jeffrey Boney on the importance of voting in the Black community ...

Civil Rights Community Doesn’t Need to Look Farr for Racism in Trump Court Nominees

Derrick Johnson, NAACP President and CEO, explains organization's opposition to Trump's nomination of Thomas Farr ...

AFRICAN AMERICANS IN THE NEWS

ENTERTAINMENT

Annalyn Kurtz CNN Money

NEW YORK (CNNMoney) -- The Federal Reserve trimmed its forecast for economic growth in 2013, but said Wednesday that it's a bit more optimistic that the unemployment rate will decline.

The Fed expects the U.S. economy to grow between 2.3% and 2.8% this year, slightly weaker than its prior estimate.

Meanwhile, the central bank expects the unemployment rate to fall to between 7.3% to 7.5% by the end of the year. The unemployment rate was 7.7% as of February.

Overall, these minor tweaks to the forecasts don't signal any major changes for monetary policy. The central bank still plans to keep its stimulative policies in place, probably until 2015.

Federal Reserve policymakers voted 11-to-1 to keep short-term interest rates near zero, as the Fed has done since December 2008 in an effort to stimulate the economy.

The Fed reiterated that it intends to keep rates low until the unemployment rate falls to 6.5% or inflation exceeds 2.5% a year. Those are rough guidelines, not strict targets. Most Fed officials don't expect those levels to be met until 2015.

The central bank also said it will continue to buy $40 billion in mortgage-backed securities and $45 billion in Treasuries each month for the foreseeable future. The hope is that those purchases will continue to push long-term interest rates even lower.

Esther George, president of the Kansas City Fed, was the only voting member to oppose the decision, citing concerns that the Fed's policies would increase "the risks of future economic and financial imbalances."

Fed Chairman Ben Bernanke will explain the central bank's latest policies at a press conference at 2:30 a.m. Eastern.

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