The University of Michigan’s consumer sentiment index rose to 97.4 in November, up from 95.5 in October. The index is now above its pre-pandemic level of 99.3. The improvement was driven by gains in both the current conditions and expectations components of the index. The current conditions index rose to 100.1, up from 98.1 in October. The expectations index rose to 95.8, up from 93.1 in October.
Fed’s Waller: Interest Rates are Likely High Enough to Bring Inflation Back to 2% Target
Federal Reserve Governor Christopher Waller said on Tuesday that interest rates are likely high enough to bring inflation back down to the Fed’s target of 2%. Waller said that the Fed is committed to bringing inflation down and that it will do whatever it takes to achieve its goal.
Fed Bans Ex-Arvest Employee From Banking Industry
The Federal Reserve has banned an ex-Arvest employee from the banking industry. The employee was accused of engaging in insider trading. The Fed found that the employee used confidential information to make profitable trades in Arvest stock.
Fed Minutes: Officials Saw Inflation Slowing but Will Monitor Data to Ensure Progress
Federal Reserve officials saw inflation slowing but said they will monitor data to ensure progress. The minutes of the Fed’s November meeting showed that officials are concerned about the high level of inflation but are encouraged by recent data showing that inflation is beginning to come down. Officials said that they will continue to raise interest rates until inflation is back to the Fed’s target of 2%.
$1.2M EDA Grant Will Support Shorter College Tech Hub
The U.S. Economic Development Administration has awarded a $1.2 million grant to support the development of a technology hub at Shorter College. The grant will be used to renovate space in a former dormitory to create a tech hub that will provide training and resources for entrepreneurs and small businesses.
Land for Fayetteville Multifamily Project Tops $7M
The land for a multifamily project in Fayetteville has sold for more than $7 million. The project will consist of 200 apartments and will be located near the University of Arkansas campus.
Oakwood Apartments in Jacksonville Sells for $14M
The Oakwood Apartments in Jacksonville have sold for $14 million. The complex consists of 160 units and is located on the west side of Jacksonville.
US Army Funds UA Little Rock Project to Combat Social Media Manipulation
The U.S. Army has awarded a $1 million grant to the University of Arkansas at Little Rock to develop a project to combat social media manipulation. The project will develop a system that can identify and track social media bots and other forms of manipulation.
UAMS Awarded $17.6M to Recruit, Train Primary Care Students
The University of Arkansas for Medical Sciences has been awarded $17.6 million to recruit and train primary care students. The grant will be used to fund scholarships and other programs that will help to attract more students to primary care careers.