VBD Weekly / MARCH 24 2023

MARCH 24 2022 / ISSUE NO. 68 / ARCHIVE

This Week's Top Stories

PNC Chief Economist Gus Faucher: FOMC Raises Fed Funds Rate by 25 BPS, Says Further Rate Increases Likely

*PNC Chief Economist Gus Faucher (Courtesy of PNC)*

This commentary is written by PNC Chief Economist Gus Faucher.

The FOMC raised the fed funds rate about 25 basis points, as expected.
The statement noted said the bank system is “sound and resilient,” which acknowledging recent problems.
PNC expects the FOMC to raise the fed funds rate by another 25 basis points at its early-May meeting.
PNC also expects a mild recession starting in the second half of this year.
The dot plot was little changed from December, although expected growth next year was lower.

Nevada State Bank has released the results of its 10th annual Small Business Survey, highlighting the economic experiences and insights of small business owners and executives in Nevada. The report reveals business concerns about eduction funding, affordable housing, and the challenges of finding and retaining quality employees.

*Left to Right: Congressman Steven Horsford, Claytee White, Councilman Cedric Crear, Brenda Williams, Mayor Carolyn Goodman and Commissioner William McCurdy (Photo Credit Vegas Business Digest)*

City of Las Vegas hosted a grand opening ceremony of the Historic Westside Design Center inside the Historic Westside School. In collaboration with the UNLV Libraries Oral History Research Center, the design center features a photo wall with historical timeline of the area. This center is part of the HUNDRED (Historic Urban Neighborhood Design Redevelopment) Plan in Action.