THE WEEK AHEAD...

Los Angeles Times - - THE WEEK -

Com­ing Mon­day

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.

Block­ing robo­calls

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.

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