Latest news with #UCLAAndersonForecast
Miami Herald
5 hours ago
- Politics
- Miami Herald
Altadena ICE raid highlights fears that roundups will stymie rebuilding efforts
LOS ANGELES - When ICE agents raided the construction site of a burned property in Altadena earlier this month, they made no arrests. The man they were after was not there. But the mere specter of them returning spooked the workers enough to bring the project to a temporary halt. The next day, half of the 12-man team stayed home. The crew returned to full strength by the end of the week, but they now work in fear, according to Brock Harris, a real estate agent representing the developer of the property. "It had a chilling effect," he said. "They're instilling fear in the workers trying to rebuild L.A." Harris said another developer in the area started camouflaging his construction sites: hiding Porta Potties, removing construction fences and having workers park far away and carpool to the site so as not to attract attention. The potential of widespread immigration raids at construction sites looms ominously over Los Angeles County's prospects of rebuilding after the two most destructive fires in its history. A new report by the UCLA Anderson Forecast said that roundups could hamstring the colossal undertaking to reconstruct the 13,000 homes that were wiped away in Altadena and Pacific Palisades on Jan. 7 - and exacerbate the housing crisis by stymieing new construction statewide. "Deportations will deplete the construction workforce," the report said. "The loss of workers installing drywall, flooring, roofing and the like will directly diminish the level of production." The consequences will spread far beyond those who are deported, the report said. Many of the undocumented workers who manage to avoid ICE will be forced to withdraw from the labor force. Their specialties are often crucial to getting projects completed, potentially harming the fortunes of remaining workers who can't finish jobs without their help. "The productive activities of the undocumented and the rest of the labor force are often complementary," the report said. "For example, home building could be delayed because of a reduction in specific skills" resulting in "a consequent increase in unemployment for the remaining workforce." Jerry Nickelsburg, the director of the Anderson Forecast and author of the quarterly California report released Wednesday, said the "confusion and uncertainty" about the rollout of both immigration and trade policies "has a negative economic impact on California." Contractors want to hire Americans but have a hard time finding enough of them with proper abilities, said Brian Turmail, a spokesperson for the Associated General Contractors of America trade group. "Most of them are kind of in the Lee Greenwood crowd," he said, referring to a county music singer known for performing patriotic songs. "They'd rather be hiring young men and women from the United States. They're just not there." "Construction firms don't start off with a business plan of, 'Let's hire undocumented workers,'" Turmail said. "They start with a business plan of, 'Let's find qualified people.' It's been relatively easy for undocumented workers to get into the country, so let's not be surprised there are undocumented workers working in, among other things, industries in construction." The contractors' trade group said government policies are partly to blame for the labor shortage. About 80% of federal funds spent on workforce development go to encouraging students to pursue four-year degrees, even though less than 40% of Americans complete college, Turmail said. "Exposing future workers to fields like construction and teaching them the skills they need is woefully lacking," he said. "Complicating that, we don't really offer many lawful pathways for people born outside the United States to come into the country and work in construction." The recently raided Altadena project had plenty of momentum before the raid, Harris said. The original house burned in the Eaton fire, but the foundation survived, so the developer, who requested anonymity for fear of ICE retribution, purchased the lot with plans to rebuild the exact house that was there. Permits were quickly secured, and the developer hoped to finish the home by December. But as immigration raids continue across L.A., that timeline could be in jeopardy. "It's insane to me that in the wake of a natural disaster, they're choosing to create trouble and fear for those rebuilding," Harris said. "There's a terrible housing shortage, and they're throwing a wrench into development plans." Los Angeles real estate developer Clare De Briere called raids "fearmongering." "It's the anticipation of the possibility of being taken, even if you are fully legal and you have your papers and everything's in order," she said. "It's an anticipation that you're going to be taken and harassed because of how you look, and you're going to lose a day's work or potentially longer than that." De Briere helped oversee Project Recovery, a group of public and private real estate experts who compiled a report in March on what steps can be taken to speed the revival of the Palisades and Altadena as displaced residents weigh their options to return to fire-affected neighborhoods. The prospect of raids and increased tariffs has increased uncertainty about how much it will cost to rebuild homes and commercial structures, she said. "Any time there is unpredictability, the market is going to reflect that by increasing costs." The disappearance of undocumented workers stands to exacerbate the labor shortage that has grown more pronounced in recent years as construction has been slowed by high interest rates and the rising cost of materials that could get even more expensive due to new tariffs. "In general, costs have risen in the last seven years for all sorts of construction" including houses and apartments, said Devang Shah, a principal at Genesis Builders, a firm focused on rebuilding homes in Altadena for people who were displaced by the fire. "We're not seeing much construction work going on." The slowdown has left a shortage of workers as many contractors consolidated or got out of the business because they couldn't find enough work, Shah said. "When you start thinking about Altadena and the Palisades," he said, "limited subcontractors can create headwinds." Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Los Angeles Times
20 hours ago
- Politics
- Los Angeles Times
Altadena ICE raid highlights fears that roundups will stymie rebuilding efforts
When ICE agents raided the construction site of a burned property in Altadena earlier this month, they made no arrests. The man they were after was not there. But the mere specter of them returning spooked the workers enough to bring the project to a temporary halt. The next day, half of the 12-man team stayed home. The crew returned to full strength by the end of the week, but they now work in fear, according to Brock Harris, a real estate agent representing the developer of the property. 'It had a chilling effect,' he said. 'They're instilling fear in the workers trying to rebuild L.A.' Harris said another developer in the area started camouflaging his construction sites: hiding Porta Potties, removing construction fences and having workers park far away and carpool to the site so as not to attract attention. The potential of widespread immigration raids at construction sites looms ominously over Los Angeles County's prospects of rebuilding after the two most destructive fires in its history. A new report by the UCLA Anderson Forecast said that roundups could hamstring the colossal undertaking to reconstruct the 13,000 homes that were wiped away in Altadena and Pacific Palisades on Jan. 7 — and exacerbate the housing crisis by stymieing new construction statewide. 'Deportations will deplete the construction workforce,' the report said. 'The loss of workers installing drywall, flooring, roofing and the like will directly diminish the level of production.' The consequences will spread far beyond those who are deported, the report said. Many of the undocumented workers who manage to avoid ICE will be forced to withdraw from the labor force. Their specialties are often crucial to getting projects completed, potentially harming the fortunes of remaining workers who can't finish jobs without their help. 'The productive activities of the undocumented and the rest of the labor force are often complementary,' the report said. 'For example, home building could be delayed because of a reduction in specific skills' resulting in 'a consequent increase in unemployment for the remaining workforce.' Jerry Nickelsburg, the director of the Anderson Forecast and author of the quarterly California report released Wednesday, said the 'confusion and uncertainty' about the rollout of both immigration and trade policies 'has a negative economic impact on California.' Contractors want to hire Americans but have a hard time finding enough of them with proper abilities, said Brian Turmail, a spokesperson for the Associated General Contractors of America trade group. 'Most of them are kind of in the Lee Greenwood crowd,' he said, referring to a county music singer known for performing patriotic songs. 'They'd rather be hiring young men and women from the United States. They're just not there.' 'Construction firms don't start off with a business plan of, 'Let's hire undocumented workers,'' Turmail said. 'They start with a business plan of, 'Let's find qualified people.' It's been relatively easy for undocumented workers to get into the country, so let's not be surprised there are undocumented workers working in, among other things, industries in construction.' The contractors' trade group said government policies are partly to blame for the labor shortage. About 80% of federal funds spent on workforce development go to encouraging students to pursue four-year degrees, even though less than 40% of Americans complete college, Turmail said. 'Exposing future workers to fields like construction and teaching them the skills they need is woefully lacking,' he said. 'Complicating that, we don't really offer many lawful pathways for people born outside the United States to come into the country and work in construction.' The recently raided Altadena project had plenty of momentum before the raid, Harris said. The original house burned in the Eaton fire, but the foundation survived, so the developer, who requested anonymity for fear of ICE retribution, purchased the lot with plans to rebuild the exact house that was there. Permits were quickly secured, and the developer hoped to finish the home by December. But as immigration raids continue across L.A., that timeline could be in jeopardy. 'It's insane to me that in the wake of a natural disaster, they're choosing to create trouble and fear for those rebuilding,' Harris said. 'There's a terrible housing shortage, and they're throwing a wrench into development plans.' Los Angeles real estate developer Clare De Briere called raids 'fearmongering.' 'It's the anticipation of the possibility of being taken, even if you are fully legal and you have your papers and everything's in order,' she said. 'It's an anticipation that you're going to be taken and harassed because of how you look, and you're going to lose a day's work or potentially longer than that.' De Briere helped oversee Project Recovery, a group of public and private real estate experts who compiled a report in March on what steps can be taken to speed the revival of the Palisades and Altadena as displaced residents weigh their options to return to fire-affected neighborhoods. The prospect of raids and increased tariffs has increased uncertainty about how much it will cost to rebuild homes and commercial structures, she said. 'Any time there is unpredictability, the market is going to reflect that by increasing costs.' The disappearance of undocumented workers stands to exacerbate the labor shortage that has grown more pronounced in recent years as construction has been slowed by high interest rates and the rising cost of materials that could get even more expensive due to new tariffs. 'In general, costs have risen in the last seven years for all sorts of construction' including houses and apartments, said Devang Shah, a principal at Genesis Builders, a firm focused on rebuilding homes in Altadena for people who were displaced by the fire. 'We're not seeing much construction work going on.' The slowdown has left a shortage of workers as many contractors consolidated or got out of the business because they couldn't find enough work, Shah said. 'When you start thinking about Altadena and the Palisades,' he said, 'limited subcontractors can create headwinds.'
Yahoo
14-04-2025
- Business
- Yahoo
Trump's volatile trade policy creates new problems for California state budget
As the stock market plummeted last week, California Assembly Speaker Robert Rivas sat at his desk in the state Capitol and predicted that President Trump's tariffs would 'squeeze our economy at every level.' 'This is certainly going to be the most challenging of years when it comes to our budget that I've had in my time in the Legislature. There will be some tough choices ahead,' the Democrat from Hollister forewarned. 'But again, it's so difficult to navigate this issue at the moment because of so much uncertainty. Every day is different.' Less than 48 hours later, Trump paused most of the tariffs he imposed on imported goods. The financial markets that California's progressive tax structure is dependent on shot up in response before bouncing up and down the rest of the week. The whiplash underscores the challenge before lawmakers and Gov. Gavin Newsom this spring as they attempt to develop a state budget plan for the year ahead that funds schools, healthcare, roadways and other essential services. Every state budget is built on forecasts of state and federal economic conditions that will affect tax revenues over the next 12 months. California's oversized reliance on income tax from the top 1% of its earners, whose fortunes are often tied to the rewards they reap from the stock market, leaves the state particularly vulnerable to the booms and busts of Wall Street. Trump's erratic trade policies and threats to withhold federal funds from California, from public health funding to support for schools, have made predicting revenues even more precarious than usual. The tariffs and in-kind retaliation from other countries would undoubtedly hurt California, from new surcharges on almond exports to deflating Silicon Valley tech stocks. Predicting if, or when, the additional tariffs could take effect and the potential fallout relies less on an understanding of U.S. economic policy and more on the psyche of the president. Read more: China to reduce the number of Hollywood films allowed amid trade war That poses a challenge for the Newsom administration, which is currently trying to develop economic forecasts for the budget year that begins in July. The estimates will serve as the bedrock of a revised state budget plan the governor presents to the Democratic-led legislature next month. Before negotiations over the final spending plan even begin, Rivas is already cautioning the budget passed before the June deadline may need to be altered significantly before the Legislature adjourns in the late summer, or sometime in the fall. 'We have not seen the kind of changes in economic policy in Washington, either in intensity or rapidity, before,' said Jerry Nickelsburg, a senior economist for the UCLA Anderson Forecast. 'It is difficult to predict, but predict the executive and the legislative branch must do, and so the appropriate way to approach this is to be more conservative than the objective data would tell you.' Trump imposed 10% worldwide tariffs and 25% tariffs on autos and auto parts. Locked in a trade war with China, he increased the tax rate on Chinese imports to 145%, while China raised tariffs on U.S. goods to 84%. Trump paused additional tariffs on goods imported from other nations for 90 days, citing his desire to negotiate. H.D. Palmer, a spokesperson for the California Department of Finance, said the effects of tariffs that remain in place for international countries and China, a large trading partner for California, will be considered in the state's updated economic forecast for 2025-26, at least as of today. But it's harder to build revenue projections around tariffs that may or may not be negotiated away. 'We're trying to wait as long as we can because things change every day,' said Somjita Mitra, chief economist for the Department of Finance. 'So we're trying, you know, to see as much information as possible.' In Newsom's initial budget proposal announced in January, the governor flagged "uncertainty about federal policy" as the "most immediate risk to the forecast." The state stands to lose revenue from sales and use taxes, personal income taxes and corporate taxes. The budget said Trump's tariffs proposal increases prices for consumers and businesses for everyday and essential goods, which could potentially lead to higher inflation, less spending and reduced sales tax revenue for California. Read more: Another victim of Trump's tariffs: California's electric vehicle ambitions Palmer noted that the state also is particularly vulnerable to stock market declines because the top 1% of income tax filers typically generated around 40% of all personal income tax paid in California. Their income is largely derived from capital gains and stock market options, or bonuses paid out based on stock performance. "When the markets are doing well, they're doing well, and as a result, our revenue picture is doing well," Palmer said. "Conversely, when the markets tank and they're not doing so well, we don't do so well." The "Magnificent Seven" tech stocks in the U.S. belong to companies largely based in California, such as Apple and Nvidia. The role those companies play in California's revenues from capital gains is greater than in other parts of the country, which leaves the state more susceptible to stock market declines. Mitra noted that California's agricultural industry, particularly almond and pistachio producers that supply a large percent of the world market, could be hurt if other countries raise taxes on goods exported from the U.S. in response to Trump's tariffs. Ports in Los Angeles, Long Beach and Oakland stand to lose logistical jobs if global trade declines. Tensions with other countries could also reduce travel and tourism to California, affecting hotels, theme parks and restaurants, Palmer said. China's decision this week to reduce the number of U.S. films released in the country will hurt major Hollywood studios. Even before sweeping tariffs are imposed, Nickelsburg said the uncertainty from Washington will already affect California revenues. Stock market volatility tends to depress initial public offerings and exercises of stock options, which are two important sources of capital gains that boost state revenues. The housing market, another origin of capital gains, is also likely to take a hit because people will be hesitant to buy homes if they don't feel confident in the economy, he said. The effects of tariffs are only one source of potential financial problems for California from the Trump administration. Since Trump took office his administration has made threats to cut billions in federal funding from California, punishing the state for its policies on parental notification of student gender changes and for offering diversity, equity and inclusion programs in schools. Many of the attempts to slash funding, such as the administration's effort to rescind $200 million in federal funds for academic recovery after the pandemic, continue to be litigated in court. That leaves California with another big budget uncertainty. Read more: California, other states sue Trump administration over clawback of COVID school funds "California has had to step up because the federal government has pulled the rug out from all of our programs, all of our social safety nets," said Assemblymember Isaac Bryan (D-Los Angeles) during a floor debate this week. Republicans at the state Capitol were quick to remind Democrats that not all fiscal challenges in California are Trump made. The Legislature passed a bill Thursday to appropriate an extra $11.1 billion in state and federal funding to cover cost overruns for Medi-Cal, the healthcare program for low-income Californians, through the end of the current fiscal year. A large share of the unexpected costs are from the state's expansion of healthcare coverage to all immigrants, regardless of legal residency status. While Newsom has committed to maintaining the program this year, cuts could be on the table in negotiations over next year's budget. Before the effects of the cuts and tariffs were taken into account, the governor's January budget proposal had already relied on taking $7.1 billion from the rainy day fund to pay for state programs. "Only in politics do you do a poor job and then try to blame someone else," said state Sen. Tony Strickland (R-Huntington Beach). As the threat of tariffs hangs over California's budget and economy, the state should consider adopting policies to increase manufacturing and production to be less reliant on foreign suppliers, Strickland said. He called out the state's reliance on timber from Canada and oil and gas from overseas. Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week. This story originally appeared in Los Angeles Times.
Los Angeles Times
14-04-2025
- Business
- Los Angeles Times
Trump's volatile trade policy creates new problems for California state budget
SACRAMENTO — As the stock market plummeted last week, California Assembly Speaker Robert Rivas sat at his desk in the state Capitol and predicted that President Trump's tariffs would 'squeeze our economy at every level.' 'This is certainly going to be the most challenging of years when it comes to our budget that I've had in my time in the Legislature. There will be some tough choices ahead,' the Democrat from Hollister forewarned. 'But again, it's so difficult to navigate this issue at the moment because of so much uncertainty. Every day is different.' Less than 48 hours later, Trump paused most of the tariffs he imposed on imported goods. The financial markets that California's progressive tax structure is dependent on shot up in response before bouncing up and down the rest of the week. The whiplash underscores the challenge before lawmakers and Gov. Gavin Newsom this spring as they attempt to develop a state budget plan for the year ahead that funds schools, healthcare, roadways and other essential services. Every state budget is built on forecasts of state and federal economic conditions that will affect tax revenues over the next 12 months. California's oversized reliance on income tax from the top 1% of its earners, whose fortunes are often tied to the rewards they reap from the stock market, leaves the state particularly vulnerable to the booms and busts of Wall Street. Trump's erratic trade policies and threats to withhold federal funds from California, from public health funding to support for schools, have made predicting revenues even more precarious than usual. The tariffs and in-kind retaliation from other countries would undoubtedly hurt California, from new surcharges on almond exports to deflating Silicon Valley tech stocks. Predicting if, or when, the additional tariffs could take effect and the potential fallout relies less on an understanding of U.S. economic policy and more on the psyche of the president. That poses a challenge for the Newsom administration, which is currently trying to develop economic forecasts for the budget year that begins in July. The estimates will serve as the bedrock of a revised state budget plan the governor presents to the Democratic-led legislature next month. Before negotiations over the final spending plan even begin, Rivas is already cautioning the budget passed before the June deadline may need to be altered significantly before the Legislature adjourns in the late summer, or sometime in the fall. 'We have not seen the kind of changes in economic policy in Washington, either in intensity or rapidity, before,' said Jerry Nickelsburg, a senior economist for the UCLA Anderson Forecast. 'It is difficult to predict, but predict the executive and the legislative branch must do, and so the appropriate way to approach this is to be more conservative than the objective data would tell you.' Trump imposed 10% worldwide tariffs and 25% tariffs on autos and auto parts. Locked in a trade war with China, he increased the tax rate on Chinese imports to 145%, while China raised tariffs on U.S. goods to 84%. Trump paused additional tariffs on goods imported from other nations for 90 days, citing his desire to negotiate. H.D. Palmer, a spokesperson for the California Department of Finance, said the effects of tariffs that remain in place for international countries and China, a large trading partner for California, will be considered in the state's updated economic forecast for 2025-26, at least as of today. But it's harder to build revenue projections around tariffs that may or may not be negotiated away. 'We're trying to wait as long as we can because things change every day,' said Somjita Mitra, chief economist for the Department of Finance. 'So we're trying, you know, to see as much information as possible.' In Newsom's initial budget proposal announced in January, the governor flagged 'uncertainty about federal policy' as the 'most immediate risk to the forecast.' The state stands to lose revenue from sales and use taxes, personal income taxes and corporate taxes. The budget said Trump's tariffs proposal increases prices for consumers and businesses for everyday and essential goods, which could potentially lead to higher inflation, less spending and reduced sales tax revenue for California. Palmer noted that the state also is particularly vulnerable to stock market declines because the top 1% of income tax filers typically generated around 40% of all personal income tax paid in California. Their income is largely derived from capital gains and stock market options, or bonuses paid out based on stock performance. 'When the markets are doing well, they're doing well, and as a result, our revenue picture is doing well,' Palmer said. 'Conversely, when the markets tank and they're not doing so well, we don't do so well.' The 'Magnificent Seven' tech stocks in the U.S. belong to companies largely based in California, such as Apple and Nvidia. The role those companies play in California's revenues from capital gains is greater than in other parts of the country, which leaves the state more susceptible to stock market declines. Mitra noted that California's agricultural industry, particularly almond and pistachio producers that supply a large percent of the world market, could be hurt if other countries raise taxes on goods exported from the U.S. in response to Trump's tariffs. Ports in Los Angeles, Long Beach and Oakland stand to lose logistical jobs if global trade declines. Tensions with other countries could also reduce travel and tourism to California, affecting hotels, theme parks and restaurants, Palmer said. China's decision this week to reduce the number of U.S. films released in the country will hurt major Hollywood studios. Even before sweeping tariffs are imposed, Nickelsburg said the uncertainty from Washington will already affect California revenues. Stock market volatility tends to depress initial public offerings and exercises of stock options, which are two important sources of capital gains that boost state revenues. The housing market, another origin of capital gains, is also likely to take a hit because people will be hesitant to buy homes if they don't feel confident in the economy, he said. The effects of tariffs are only one source of potential financial problems for California from the Trump administration. Since Trump took office his administration has made threats to cut billions in federal funding from California, punishing the state for its policies on parental notification of student gender changes and for offering diversity, equity and inclusion programs in schools. Many of the attempts to slash funding, such as the administration's effort to rescind $200 million in federal funds for academic recovery after the pandemic, continue to be litigated in court. That leaves California with another big budget uncertainty. 'California has had to step up because the federal government has pulled the rug out from all of our programs, all of our social safety nets,' said Assemblymember Isaac Bryan (D-Los Angeles) during a floor debate this week. Republicans at the state Capitol were quick to remind Democrats that not all fiscal challenges in California are Trump made. The Legislature passed a bill Thursday to appropriate an extra $11.1 billion in state and federal funding to cover cost overruns for Medi-Cal, the healthcare program for low-income Californians, through the end of the current fiscal year. A large share of the unexpected costs are from the state's expansion of healthcare coverage to all immigrants, regardless of legal residency status. While Newsom has committed to maintaining the program this year, cuts could be on the table in negotiations over next year's budget. Before the effects of the cuts and tariffs were taken into account, the governor's January budget proposal had already relied on taking $7.1 billion from the rainy day fund to pay for state programs. 'Only in politics do you do a poor job and then try to blame someone else,' said state Sen. Tony Strickland (R-Huntington Beach). As the threat of tariffs hangs over California's budget and economy, the state should consider adopting policies to increase manufacturing and production to be less reliant on foreign suppliers, Strickland said. He called out the state's reliance on timber from Canada and oil and gas from overseas.
Yahoo
21-03-2025
- Business
- Yahoo
Trump tries to save Tesla, recession fears, and dismantling the DOE: Politics news roundup
President Donald Trump's burgeoning clashes with some of the U.S.' top trade partners aren't just trade disputes — they could be part of an economic war, according to one expert. Tariffs — which are set to slam most U.S. industries, including tech and media companies — are just part of that. Those duties on imports from foreign countries are also expected to hinder economic growth and potentially lead to a recession, which the president has yet to rule out as a possibility. The Federal Reserve has also raised its forecast for inflation and unemployment, even as uncertainty clouds its economic projections. Catch up on all that and more — including how the White House is trying to give Elon Musk's Tesla a helping hand and what Trump's push to weaken the Education Department could mean for millions of Americans — in this week's politics roundup. As protests — peaceful and violent — against Tesla (TSLA) and its CEO Elon Musk show no signs of slowing down, the White House is stepping in. Read More In the first few weeks of his second administration, President Donald Trump has followed through — then pulled back — on tariff threats, sending stocks tumbling into correction territory. — Britney Nguyen Read More With the U.S. Department of Education on the chopping block, the agency is getting more scrutiny than usual. But what does the Department of Education do? Experts lament the impact the Department's demise will have on some of its lesser-known roles. — Kevin Williams Read More President Donald Trump's ever-shifting trade war could cost the U.S. technology, media, and telecommunications (TMT) industry billions of dollars annually, according to a new PwC report analyzing the impact of ongoing tariffs. With heightened duties — particularly on imports from China — companies are scrambling to assess financial risks and rethink supply chains. — Bruce Gil Read More Commerce Secretary Howard Luntick made a direct public recommendation on Wednesday that Americans should buy shares of Tesla (TSLA), the company run by Elon Musk. Read More President Donald Trump's policies on trade, government employment, and immigration will cause an unnecessary economic recession if they're fully or almost fully enacted, while also boosting inflation, according to the UCLA Anderson Forecast. — Josh Fellman Read More As Wall Street grapples with the increasing likelihood of a U.S. recession, the Trump administration has gone to bat defending President Donald Trump's stock market-slamming trade policies. Read More The Federal Reserve kept interest rates on hold on Wednesday as expected, but it raised its inflation and unemployment forecasts, trimmed its GDP projection, and slowed the pace of the sale of some assets from its balance sheet. The CPI outlooks for this year and next are now 2.7% and 2.2%, respectively. — Josh Fellman Read More For the latest news, Facebook, Twitter and Instagram.
