THE WEEK AHEAD...
Monday’s Business section explains the ins and outs of the federal funds rate. That’s the name for the benchmark rate that the Federal Reserve manipulates to try to keep the economy under control. We look at how it works, why it’s important and howit affects other interest rates— from mortgages to certificates of deposit. The central bank has kept the fed funds rate near zero since late 2008 to help spur a sluggish recovery from the Great Recession. With a stronger economy now, the rate is ripe to rise.
Fed tomeet on rate hike
Federal Reserve policymakers will meet Tuesday and Wednesday to consider the first increase of the central bank’s key short-term interest rate since 2006. The Fed has set the stage to raise its benchmark rate at any time, butmany analysts think that despite an improving economy, the Fed won’t act until later this year. Adecision will be announced at 11a.m. Pacific time Wednesday.
Gaming show opens in L.A.
North America’s largest video game trade show, the Electronic Entertainment Expo, opens a three-day run at the Los Angeles Convention Center on Tuesday— and you can go. E3, as it’s known, typically attracts more than 40,000 industry-only attendees. For the first time, the showis open to 5,000 members of the public for an early look at new games and products.
Aproposal tomake it easier for consumers to block robocalls will be taken up Thursday by the Federal Communications Commission. A key change would allow phone companies to offer customers products that automatically block robocalls and spam text messages. The FCC received 215,000 complaints about robocalls and texts last year, more than any other issue.
A tax break for Tesla?
Astate committee is scheduled to vote Thursday on whether to give automaker Tesla a $15-million tax credit. If the California Competes Tax Credit Committee approves, Tesla would get the full amount by creating 4,426 jobs in California by 2019. The jobs must offer workers at least $35,000 a year and, overall, must provide an average salary of at least $55,000 a year.