Missouri Minute: Fed expected to announce rate cuts; Retail sales increase

As Boeing workers in Seattle continue to strike, the commercial and military airplane maker has warned employees – including some 15,000 in the St. Louis area – that furloughs, pay cuts and a pause on orders could be on the horizon. In a message to Boeing employees sent Monday, Chief Financial Officer Brian West said the company was in “a difficult period” and that “this strike jeopardizes our recovery in a significant way.” In government news, as both individuals and companies make quarterly payments to the state, some are ringing the alarm bell that Missouri revenues have persistently failed to keep up with inflation, with the state’s general revenue fund potentially on track to post a year-over-year decline for fiscal year 2025. Plus, as Federal Reserve Bank officials conclude a two-day meeting Wednesday afternoon, all eyes are on the magnitude of an expected cut to the central bank’s target interest rate. Keep reading for your Wednesday morning business news.

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