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Transatlantic News
Transatlantic News
20
Aug
NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the July 2024 SCE Labor Market Survey, which shows a sharp increase in the proportion of job seekers compared to a year ago. Satisfaction with wage compensation as well as with nonwage benefits and promotion opportunities at respondents’ current jobs all deteriorated. The average expected likelihood of receiving an offer in the next four months increased compared to a year ago, while the average expected likelihood...
20
Aug
Blog post by Olly Bartrum | Fiscal rules have come under a range of criticism in recent years in the UK and elsewhere. In general, the argument of critics has been that they encourage sub-optimal economic policy-making. For example, they have been blamed for forcing countries into counterproductive austerity to not enforcing fiscal sustainability adequately.
Despite this, fiscal rules are increasingly being adopted by countries across the world, even if they are not always followed in practice. Evidence does suggest...
16
Aug
U.S. Department of Commerce Outlines $1.6 Billion in Proposed Funding to Support Multiple Projects in Texas and Utah to Increase Production of Chips Vital for U.S. Economic and National Security
Today, the Biden-Harris Administration announced that the U.S. Department of Commerce and Texas Instruments (TI) have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $1.6 billion in proposed direct funding under the CHIPS and Science Act to strengthen domestic supply chain resilience, advance our national security,...
15
Aug
By Shafik Hebous, Nate Vernon-Lin | Crypto mining and data centers now account for 2 percent of global electricity use and nearly 1 percent of global emissions, and their footprint is growing.
What do crypto assets and artificial intelligence have in common? Both are power hungry.
Because of the electricity used by high-powered equipment to “mine” crypto assets, one Bitcoin transaction requires roughly the same amount of electricity as the average person in Ghana or Pakistan consumes in three years. ChatGPT queries require 10...
15
Aug
Blog post by Evangelos Charalambakis, Omiros Kouvavas and Pedro Neves | How quickly do consumers react to rate hikes? The answer depends in part on how much they know about financial matters. This ECB Blog post shows that the better informed they are, the quicker their reaction.
When central banks raise interest rates they aim to dampen demand in the economy, which ultimately helps keep inflation at bay. Consumers are key for that. They make decisions every day: how much...
14
Aug
Majority Leader Charles Schumer and Empire State Development President, CEO & Commissioner Hope Knight Joined Edwards Vacuum Officials on Tour of Construction Site of Major Semiconductor Supplier at the Western New York Science & Technology Advanced Manufacturing Park, Global Manufacturer of Dry Pumps Will Strengthen New York’s Semiconductor Supply Chain, Create up to 600 Jobs in the Finger Lakes Region, Project Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy To Revitalize Communities and Grow the Economy.
Construction Site Photos...
14
Aug
New York School Bus Incentive Program Makes Clean Buses and Charging Infrastructure More Affordable for Public Schools, Helps Improve Air Quality and Reduce Transportation Pollution in Local Communities and Across the State.
Governor Kathy Hochul today announced that an additional $200 million is now available to school districts and bus operators for zero-emission school buses through the second installment of funding from the historic $4.2 billion Clean Water, Clean Air, and Green Jobs Environmental Bond Act (Bond Act). The funding,...
14
Aug
Summit Will Gather Feedback on Strategies to Accelerate Renewable Energy Deployment and Explore the Potential Role of Next Generation Clean Energy Technologies, supports Advancement of Clean Energy, Economic Growth and Workforce Opportunities for New York while Bringing Benefits to Disadvantaged Communities, builds on Governor Hochul's Unprecedented Investments and Actions to Scale Renewable Energy and Achieve New York's Clean and Renewable Energy Targets.
Governor Kathy Hochul today announced New York State will convene global experts to discuss the role of next...
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