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MBN Blog

PNC Chief Economist Gus Faucher: FOMC: Could Reduce Asset Purchases "Soon"

Michigan Business Network
September 22, 2021 6:00 PM

  • 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.
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Governor Whitmer’s 2021 Mackinac Policy Conference Keynote Address

Michigan Business Network
September 22, 2021 5:00 PM

as Prepared for Delivery   

MACKINAC ISLAND, Mich. - Governor Gretchen Whitmer today delivered the keynote address at the 2021 Mackinac Policy Conference. Please see below for her remarks as prepared for delivery. 

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MEDC | Final Call for State Small Business Credit Initiative RFI Responses

Michigan Business Network
September 22, 2021 4:00 PM

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.

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Chris Rizik | Renaissance Venture Capital Fund from #MPC21

Michigan Business Beat
September 22, 2021 3:00 PM

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.

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Governor Whitmer Announces Initiative for Nation-Leading Wireless EV Charging Infrastructure in Michigan

Michigan Business Network
September 22, 2021 2:00 PM

Wireless charging advances Governor Whitmer’s goals for EV adoption and environmental sustainability in Michigan   

PONTIAC, Mich. – While participating in the opening ceremony at Motor Bella Tuesday, Governor Gretchen Whitmer announced a new initiative to develop the nation’s first wireless charging infrastructure on a public road in the U.S. right here in Michigan. The development of a wireless dynamic charging roadway in Michigan is a step forward in addressing range anxiety and will accelerate the transition to all-electric transit fleets in Michigan, and beyond. 

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PNC Senior Economist Abbey Omodunbi: Existing-Home Sales Cool in August

Michigan Business Network
September 22, 2021 1:00 PM

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.
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Local Flint Professionals Embark on Year-Long Leadership Development Journey

Michigan Business Network
September 22, 2021 12:00 PM

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.

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Sparrow Foundation | Local Leaders Strut Their Stuff as Annual Dapper Dads Challenge Enlivens Downtown Lansing

Michigan Business Network
September 22, 2021 11:00 AM

LANSING, MIIf 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.

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CAR | The CAR Podcast - European EVs and Infrastructure, Workforce, Inflation, and the Full-Size Pick-up Market

Michigan Business Network
September 22, 2021 10:00 AM

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.

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Sherita Smith Joins Cinnaire Detroit

Michigan Business Network
September 22, 2021 9:00 AM

as Vice President, Community Development

Sherita Smith has been appointed Vice President, Community Development, at Cinnaire. In this position, Sherita will be taking the helm implementing Cinnaire’s targeted investment strategy for Detroit, establishing and maintaining relationships with local partners and funders to advance Cinnaire’s Priority City initiatives.

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