• The FOMC said in its September 22 policy statement that it could reduce its purchases of long-term assets “soon.” This implies an announcement is likely to come at the FOMC’s next meeting in early November, with a reduction in purchases starting in December.
• The FOMC remains positive on the economic outlook, and still thinks that the recent run-up in inflation is largely temporary.
• The FOMC expects the conditions it has set for an increase in the fed funds rate—maximum employment and average inflation of 2%—are likely to be achieved in 2023.

This is the final call for the public to respond to the MEDC’s Request for Information to provide recommendations for opportunities to scale or improve existing resources or to create new programs to leverage federal State Small Business Credit Initiative (SSBCI) funding. The federal SSBCI will provide funds to the State of Michigan to support programs for small businesses. Michigan will receive an allocation of $176 million based on a federal formula and will also be competing for an additional allocation based on a competitive application.

Jeffrey Mosher spends a few minutes with Chris Rizik, CEO & Managing Partner, for Renaissance Venture Capital Fund, Ann Arbor, MI, while at the 2021 Mackinac Policy Conference, on Mackinac Island.

Rising Homebuilding Costs Continue To Weigh on Construction Activity

• Sales of existing homes fell 2% to 5.88 million units in August.
• Existing homes listed for sale fell 1.5% to 1.29 million units, 25% above the record-low 1.03 million units reached in January.
• Housing supply will get near-term support from the construction of new homes, but the longstanding lack of inventory will drive house price growth into 2022.

RFP for Lead Now community impact projects due Oct. 1

(FLINT, Mich., Sept. 22, 2021) – Nine local professionals have been selected to participate in Lead Now Flint & Genesee, an introspective leadership development program offered through Flint & Genesee Group.

LANSING, MI –If you’ve never been to the Sparrow Dapper Dads Challenge and Fashion Show, you’re in for a treat. Twenty-five of Mid-Michigan’s most prominent professionals – from physicians to bankers to everything in between -- will strut their stuff down the Delta Dental runway as they compete to raise money to support women’s health in the Mid-Michigan region.

Bernard Swiecki joins Carla Bailo, President and CEO of the Center for Automotive Research of Ann Arbor to discuss what’s happening with EVs in Europe and the infrastructure needs.