News from the South - Georgia News Feed
Federal Reserve cuts key interest rate
SUMMARY: The Federal Reserve approved a second consecutive interest rate cut, lowering the benchmark borrowing rate by a quarter percentage point to between 4.5% and 4.75%. This rate influences consumer borrowing for mortgages, credit cards, and auto loans. Fed Chair Jerome Powell stated that the Fed remains open to further cuts but must balance reducing policy restraint to avoid hindering inflation progress against the risk of weakening economic activity and employment. The goal is to achieve a soft landing for the economy, reducing inflation without triggering a recession.
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News from the South - Georgia News Feed
Voters’ economic concerns helped push Trump across the finish line | Georgia
SUMMARY: As Election Day approached, the economy emerged as the top issue for voters in swing states, particularly in Georgia, where 73% of Trump voters prioritized it over Harris voters (only 25%). Exit polls indicated that dissatisfaction with the Biden administration contributed to Trump’s victory (50.73%-48.53%). Dr. Trey Hood noted that Trump’s rural support and campaign enthusiasm were decisive factors. While 73% of voters rated the economy poorly, Harris supporters were generally optimistic, with 90% believing the economy was good. Additionally, 52% of Trump voters were first-time voters, contrasting with Harris’s supporters, who often voted against Trump rather than for her.
The post Voters’ economic concerns helped push Trump across the finish line | Georgia appeared first on www.thecentersquare.com
News from the South - Georgia News Feed
Winds fuel rapid spread of wildfires in California
SUMMARY: Two wildfires near Los Angeles are causing rapid devastation, sparking injuries and widespread evacuations. The Broad fire in Malibu threatens homes as it rapidly moves over the bluff, while the larger Mountain fire in Ventura County poses a significant risk. Firefighters are working tirelessly to combat the blazes using all available resources, but multiple individuals have already been hospitalized. With powerful winds and dry conditions, officials emphasize the urgency of evacuation orders, stating that material possessions can be replaced, but lives cannot. The destruction has left many homes in ashes, creating a sense of sadness in the affected communities.
Dozens of homes are in ashes, and thousands of people are under evacuation orders. —
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News from the South - Georgia News Feed
Election 2024: All three statewide referendums approved by voters | Georgia
SUMMARY: On Tuesday, Georgia voters approved three statewide ballot initiatives, all introduced by the Legislature. The Georgia Tax Court Amendment (HR598) establishes a Tax Court within the judicial branch, with 51.9% approval. The Local Option Homestead Property Tax Exemption Amendment (HR1022), passing with 63%, allows the Legislature to offer statewide homestead exemptions to limit assessed value increases. Lastly, the Personal Property Tax Exemption Increase Measure (HB808) raised the exempted amount from $7,500 to $20,000, receiving 65% support. These measures add to Georgia’s history of ballot initiatives, with 109 of 132 proposed measures approved since 1985.
The post Election 2024: All three statewide referendums approved by voters | Georgia appeared first on www.thecentersquare.com
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