The central bank’s renewed commitment comes even as its latest economic forecast calls for growth of 6.5% this year and for inflation to climb above 2% for the first time in years.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
German automaker BMW ramps up electric vehicle offerings
But it won’t follow General Motors and other carmakers that have said their goal is to phase out internal combustion passenger vehicles by a specific date.
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Posted inBusiness, Nation & World
Will work from home outlast virus? Ford’s move suggests yes
The automaker tells about 30,000 of its employees worldwide that they can continue to do so indefinitely, with flexible hours approved by their managers.
Posted inBusiness, Kennebec Journal, Local & State
Monmouth solar project planned on 55 acres gets OK from Planning Board
Two days after a moratorium that would have halted the project was defeated, the project planned on Ridge Road received board approval with draft conditions.
Posted inBusiness, Nation & World
IRS extends tax filing deadline to May 17
The move provides more breathing room for taxpayers and the Internal Revenue Service alike to cope with changes brought on by the pandemic.
Posted inBusiness, Local & State
Office of Marijuana Policy seeking bids for public safety campaign
The campaign will address, among other concerns, ‘preventing and deterring the use of marijuana and marijuana products by persons under 21 years of age.’
Posted inBusiness, Food & Dining, Local & State, Morning Sentinel
Front & Main restaurant at Lockwood Hotel opening to public Thursday
The restaurant is housed on the ground floor of the hotel and looks out onto the streets it’s named after.
Posted inBusiness, Local & State
Quebec’s rollout of electric vehicles holds lessons for Maine
In a virtual meeting Wednesday with Maine business leaders, speakers said incentives are key to boosting adoption of electric vehicles.
Posted inBusiness, Nation & World, News
Fed expects to keep its key rate near zero through 2023
The Federal Reserve is raising its forecast for inflation, predicting it will surpass the Fed’s 2% annual target after years of ultra-low inflation.
Posted inBusiness, Nation & World
Treasury: $242 billion in new stimulus relief payments have already been sent
The Treasury Department says it has sent out 90 million economic impact payments since President Joe Biden signed a $1.9 trillion pandemic relief plan last week.