In this week’s Economic Report, Dr. Rick Harper discusses Navy Federal Credit Union’s official announcement regarding plans to continue expanding its operations in Pensacola, bringing 5,000 new jobs and $350 million in capital investment to the region by 2026.
“It’s great news for the economy, probably $400 million a year in economic impact from the payroll in both direct employment, plus the ripple effect,” says Harper.
In this week’s Economic Report, Dr. Rick Harper begins with the latest from Federal Reserve Chairwoman Janet Yellen.
On Wednesday, Yellen announced that the Fed will continue its current monetary policy, cutting its monthly bond purchases by another $10 billion per month and keeping its key federal funds rate near zero. Further, she told a news conference that inflation was expected to move gradually back to the central bank's 2 percent target.
In this week’s Economic Report, Dr. Rick Harper reflects on the latest comments by Janet Yellen, Chair of the Federal Reserve. Yellen says there’s still a need to boost the nation’s job market, with a continuation of low interest rates until it improves.
In this week’s Economic Report, Dr. Rick Harper discusses issues ranging from President Barack Obama’s proposal to toughen regulations for overtime pay to the net worth of the U.S. rebounding back to pre-recession levels.
Currently, most hourly workers must be paid time-and-a-half if they work more than 40 hours a week. Most salaried workers do not need to be paid overtime, unless they earn less than $455 a week. But that works out to $23,660 a year, which is less than the federal poverty level for a family of four.
In this week’s Economic Report, Dr. Rick Harper discusses the Florida Gaming Impact Study and various issues related to the Florida Legislature’s plans to address the comprehensive gaming legislation in the 2014 session. The Florida Senate Committee on Gaming is holding a series of public hearings around the state. One of those was held this week at Pensacola State College.