Call & Times

Emergency funds go to gas stations, trash cans, jazz festival Yesterday, the Federal Reserve raised rates by 75 basis points, in line with market expectatio­ns. Its target ran for overnight rates is now 2.25–2.5%, which is near its estimate of the longer-r

- By DAVID A. LIEB

Located along a remote stretch of Highway 395, the Fort Independen­ce Travel Plaza touts a dozen gas pumps, clean restrooms and made-to-order meals for travelers visiting California’s Eastern Sierra.

The facility, which provides revenue for a Paiute Indian tribe, is about to quadruple in size thanks to an $8 million federal grant that will help build a new gas station with room for cultural displays and locally made products.

It’s one of hundreds of tourism-related projects nationwide that are collective­ly getting about $2.4 billion from the American Rescue

Plan, according to an Associated Press analysis of funds flowing from last year’s wide-ranging coronaviru­s relief law.

The money is paying for graffiti-resistant trash cans in Portland, Oregon, culturally diverse music festivals in Nashville, Tennessee, sports facilities in various cities and new marketing campaigns to attract tourists to particular states — sometimes in direct competitio­n with one another.

“Our goal is to get people traveling again. Period,” said Dave Lorenz, chairman of the National Council of State Tourism Directors and the

With the FOMC statement not containing any significan­t surprises, it was up to Fed Chair Jerome Powell to communic

Michigan travel director. The subsequent pandemic the end of March, according country music scene, allotted

Despite hthigehir infuteenl tiopnrisc-for rfeulriteh­ferlapwoli­csyigmneod­vebs.y President to an Associated Press analysis $750,000 to reach “culturally es, Americans do seem to Joe Biden expanded of recently released data diverse visitors.” That’s be hitting thGeivreon­adth. aAt fttheer laatesttha­int.flaTthioen­Apmrinetri­schaonwRee­dschueeadl­infreomCPt­IhaetUa.Sn.eTwre4a0s-uyreya. r high of helping 9.1%, fund it is not renovation­s surprising at a that Pow plunge at threiteorn­astetd othf ethFed's Plan strong contained commitment $750 to million bringing inflation Those down. tourism He projects said that the once-prominent Fed has the tools music they venue, need and t COVID-19 reosuotblv­re atko, usUe.Sth. em. for There grants were, for tourism, however, trav- some include comments $425,000 that markets in Portland are interpreti­ng subsidize as dovish, choir concerts or at least not travel spendhinag­wkthisihs aysetahrei­yscould el have and been. outdoor Both recreation equity and bond to markets replace rallied 200 as trash Powell astpoFkise­k. University and pay projected to top $1 trillion through the federal Econom- cans with ones that have for an annual jazz and blues

— up 45% frWomhilie­tsre2p0e2a­0tleodwly staictinDg ethvaeltof­pumtuernet­FeAdupthoo­lirciytyw. ill ldaerpgern­doopnenhio­nwgsthaend­athaaerdvo- lvefse,sPtiovwale­llohcicnut­errdintgha­tintheJrue­lyw, ould lik point, accordbien­gattomoths­et oUn.eS.moIrte avlesroy ilnacrglue­dreadtethh­eikteo.uHrisemre, ferern-tcoe-d etfhaecedo­stuprlfoat­cefrsom athde praemvioun­sg motehetrin­thginingsJ.une, which, for t Travel Assoceinad­tioonf. 2022, showterdav­realtesana­drouhnodsp­1it0a0litb­yassisecp-ointosfasb­uocvhethwi­hngerseats­hmeyeatarl­e snlaotws . GiveOnthth­ear tctohmerpe­eatirteivt­ehrgereamn­tseetings l

That correspond­s with a tor among dozens of eligible or wire mesh. The city cit- included $2.2 million to help

this year, the Fed could, for example, hike by 50bps, 25bps, and 25bps to hit that level. This would be in line with our vi

similar increase in state touruses — alongside health ed “a substantia­l increase in replace old snowmaking

going into today's meeting. Powell seems to be saying that even after the recent higher-than-expected inflation data, t

ism office budgets, which care, housing and unemployme­nt the amount of trash, graffi- equipment at Frost Fire Park

FOMC's view on how much further they need to hike rates hasn't changed very much.

have rebounded to pre-pandemic programs — for a $350 ti, and vandalism” during ski resort in North Dakota, levels thanks to the billion pool of flexible aid the pandemic, asserting that $1.6 million to help build a

Further, relative to

federal aid. hsiesnrtet­coensttaat­ep,pleoacraal­n, cteersr,itPoorwiae­l ll'snienwterg­parrebtaag­tieoncaonf­srewcielnl t“ecrceo-nomneicwde­Mvealordpi­meGnrtassw­amsunsoeut­imceably m

A coronaviru­s downbeat. relief With law the and initial tribal estimate government­s. of 2Q GDP out ate tomorrow, a safer, more he suggested welcoming that in the Louisiana weak or negative and $1.2 growth millaiosnt­atoistbicu­ailldqulio­rkc.kAerttrhoo­emsasm, num signed by fmoromsetr­foPrerecsa­isdtenrst are eTxpheocst­eing orvefelren­cmtseantgs­enhuaidne selonwviir­nognmofend­temfoarndv­irsaitohre­sr thoan e time Donald Truims pimpoopret­naendt ttohekeepb­uindgmetie­nd mthoartett­heanFe$d1.s6tibllisl-ees otuhre lpaabrokrs,m” aarkcceot radsintogo­tsotroang,coancdetsh­seioynwfaa­nctiltioti­esseeaandb­etater supp potential fordefmeda­enradl bmaloanecy­e folriolanb­foror,mwtithhosf­ewfl exr ijbolbe foupnednsi­ngds erseclarit­pivteiotno tinhetnheu­mTbrear soufryunem­papvlioliy­oend fwoor rakecrrsoa­svsa-ciloaubnle­trtyo fill the to be used fHore lnooctaeld­totuhraits­mthe Efomrpalbo­oyumte5n5t­0CtoustriI­snmd,extrafovre­l2QD, wephaicrth­miesndtude­atoau. t on Friday, wcoouuldrs­ebe aatn Mimipdodrl­teanGt edoartgaia­point sin projects. slower wage growtahnwd ihllobspei­tnaelietdy­epdrotjoec­gtestaisno­flfation dNoawshnvt­iollet,hekinr o2w%n tfaorgr eitt.s HeSatlasto­e nUontievde­rtshitayt. there are eight we before the next FOMC meeting, and over that period we will get two more months of data on inflation and the la market. This data and financial market developmen­ts will largely determine how much the Fed hikes in September.

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