Atlanta, GA…It’s not just high taxes that are driving people out of cities. There are other costs—moral, social, and cultural—associated with spurning property rights and celebrating looting. Last September, billionaire Ken Griffin announced he was pulling up stakes and moving Citadel—his gigantic hedge fund—from Chicago to Miami. The Windy City was out of control, he told Bloomberg, […]
Washington, DC…Economic activity expanded at a modest pace in the first quarter. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated. The U.S. banking system is sound and resilient. Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. […]
Sacramento, CA…The U.S. Court of Appeals for the Ninth Circuit ruled unanimously that the City of Berkeley’s ban on natural gas in buildings violates federal law, specifically the Energy Policy and Conservation Act. The City of Berkeley cannot bypass federal preemption by banning the pipes instead of natural gas products themselves, according to the panel. […]
Sacramento, CA…Surrounded by legislators and community leaders in the rotunda of the California State Capitol, Governor Gavin Newsom signed legislation to implement the strongest state-level oversight and accountability measures on Big Oil in the nation – bringing transparency to California’s oil and gas industry, shining new light on the corporations that have for decades operated […]
Sacramento, CA…As California continues to deploy personnel and resources to protect communities and support recovery efforts amid ongoing severe storms, Governor Gavin Newsom today requested a Presidential Major Disaster Declaration to bolster the emergency response and recovery in the counties of Calaveras, Kern, Los Angeles, Mariposa, Monterey, San Benito, Santa Cruz, Tulare, and Tuolumne. To […]
Washington, DC…The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in February on a seasonally adjusted basis, after increasing 0.5 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.0 percent before seasonal adjustment. The index for shelter was the […]
Washington, DC…Good morning, everyone. Before I leave for California, I want to briefly speak about what’s happening to Silicon Valley Bank and Signature Bank. Today, thanks to the quick action of my administration over the past few days, Americans can have confidence that the banking system is safe. Your deposits will be there when you […]
Washington, DC…Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara (DINB). At the time of closing, the FDIC as receiver immediately […]
Truckee, CA…Sierra Business Council administers the Sierra Nevada Energy Watch (SNEW), a program that provides local public agencies and businesses within Pacific Gas & Electric Company territory with free energy efficiency consulting services designed to cut energy costs. As energy supply costs increase, we encourage public agencies and small- and medium-sized businesses to utilize energy-efficient […]
Sacramento, CA…The California Department of Transportation (Caltrans) is recruiting volunteers who reside and travel in rural and tribal communities to participate in the latest testing phase of a “road charge” pilot. Up to 500 volunteers will participate in a seven-month simulated road charge system, which charges drivers based on the number of miles they travel […]
