Mizzell: Economic legacy of the pandemic: Challenges, opportunities
It’s no secret that the COVID-19 pandemic and its economic fallout have posed serious challenges to Indiana businesses, lenders and consumers.
Economy
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‘Cautiously optimistic’: Attorneys say inflation causing banks, clients to ‘sharpen pencils,’ but projects, investments moving ahead
Between interest rates, labor shortages, supply chain issues, the ongoing war in Ukraine and the aftereffects of COVID-19, debtors and creditors are facing some uncertainties, attorneys say.
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Falling values: Creativity required for family law attorneys to help divorce clients in uncertain economy
The challenges family law attorneys are facing have been induced by the 2022 economic upheaval.
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Buying American: Revamped federal law seeks to increase U.S.-made products to strengthen domestic supply chains
Changes are coming to an almost 90-year-old federal measure intended to give preference to U.S.-made products and domestic manufacturers in the country’s purchases.
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New and soon-to-be lawyers chart a different course in uncertain times
The uncertainty of the times is heightening the worry and stress among law students and new lawyers, but career counselors say the people just entering the legal profession are doing more to confront the issues of the day. They are discussing ways to solve injustices and inequities, pursuing jobs in the public sector and carefully evaluating law firms to determine if they share the same values.
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Articles
More Americans think foreign policy should be a top US priority for 2024, an AP-NORC poll finds
In this time of war overseas, more Americans think foreign policy should be a top focus for the U.S. government in 2024, with a new poll showing international concerns and immigration rising in importance with the public.
Federal Reserve keeps key interest rate unchanged, foresees 3 rate cuts next year
The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and its officials signaled that they expect to make three quarter-point cuts to their benchmark rate next year.
Bankruptcy filings slowly inch up in Indiana, nationally: Student loan repayments, credit card debt, inflation seen as key factors
Bankruptcy filings in Indiana’s Northern and Southern Districts fell in 2021 and 2022. But those filing numbers are starting to finally creep up, with year-over-year increases reported in the Northern and Southern Districts and nationally in June.
Why the United Auto Workers union is poised to strike major US car makers this week
About 146,000 U.S. auto workers are set to go on strike this week if General Motors, Ford and Stellantis fail to meet their demands for big pay raises and the restoration of concessions the workers made years ago when the companies were in financial trouble.
Inflation is down, but Inflation Reduction Act doesn’t deserve credit, experts say
Even President Joe Biden has some regrets about the name of the Inflation Reduction Act: As the giant law turns a year old on Wednesday, it’s increasingly clear that immediately curbing prices wasn’t the point.
Pence criticizes Trump, ‘crackpot lawyers’ at Indiana State Fair campaign stop
Speaking at an Indianapolis campaign stop Wednesday, former Vice President Mike Pence further distanced himself from his previous boss, Donald Trump, as tensions continue to flare on the nomination trail.
Indiana budget regulators requiring state agencies to hold back 2% ‘management reserve’
Despite recent optimism about Indiana’s financial footing, budget regulators want all state agencies to hold back a “management reserve” of 2% in their next annual spending plans, according to a memo obtained by the Indiana Capital Chronicle.
Companies targeting big spenders with premium products
Companies from toothpaste makers to even discounters are adding more premium items like designer body creams and services as they reach out to wealthier shoppers who are still spending freely even in the face of higher inflation and a volatile economic environment.
In budget request, Holcomb doubles down on economic development strategy
Hoping to capitalize on a record-breaking year of $22.2 billion in committed capital investment, Gov. Eric Holcomb laid out an economic development agenda Wednesday that includes increased funding to buy land, close deals and improve the state’s workforce while attracting more jobs and employers to Indiana.
State predicts mild recession, stagnant economy in 2023
Indiana officials predicted Thursday that an economic downturn will dramatically slow the growth in state tax collections that have fueled a booming budget surplus over the past two years.
Hoosiers share thoughts on Holcomb, abortion, public health in new survey
Less than half of Hoosiers who were interviewed for a new statewide survey said they approve of the job Gov. Eric Holcomb is doing in state office, according to a new report released Monday.
VoteCast: Inflation top concern, but democracy a worry, too
Just as Republicans had hoped, high inflation was the top consideration for voters in the midterm elections. But the survey reveals that the survival of democracy also weighed heavily on voters’ minds as control of Congress hung in the balance.
In Senate debate, McDermott goes on offensive against incumbent Young
The first and only debate among the three Indiana candidates for U.S. Senate gave Democratic hopeful Tom McDermott a rare opportunity to verbally spar with Republican Sen. Todd Young, who is seeking another six-year term as the state’s senior senator.
‘Ferocious rate’ of gifting as sunset nears for exemption: Transfer of assets spurred by coming cut in exemption, market downturn
Even though asset values and wealth are being squeezed in today’s economic environment of inflation, rising interest rates and possible recession, estate planning attorneys are looking beyond the current market conditions to the calendar.
Lawmakers eye next budget session with $5B in reserves
Indiana’s revenues continue to outperform projections, bolstering swollen coffers as stakeholders prepare to draft the 2023 budget amid ongoing inflation and economic concerns.
Federal Reserve likely to signal higher rate hikes ahead
The Fed is expected at its latest meeting to raise its key short-term rate by a substantial three-quarters of a point for the third consecutive time. Another hike that large would lift its benchmark rate—which affects many consumer and business loans—to a range of 3% to 3.25%, the highest level in 14 years.
Fed hoping higher rates won’t mean deep U.S. recession
The last time the Federal Reserve faced inflation as high as it is now, in the early 1980s, it jacked up interest rates to double-digit levels—and in the process caused a deep recession and sharply higher unemployment. On Thursday, Chair Jerome Powell suggested that this time, the Fed won’t have to go nearly as far.
Feeling the pinch? Indiana solo, small firms say they aren’t yet feeling effects of inflation
Multiple small and solo firm attorneys told Indiana Lawyer they aren’t yet panicking over current inflation, have not heard any major concerns about billing from their clients or fellow colleagues, and believe the lessons learned from COVID-19 will help them meet future economic challenges.
Indiana House advances proposal for spending some of $6.1B surplus
The Indiana House on Friday voted 93-2 to use the state’s unexpected surplus to send $1 billion in taxpayer rebates proposed by Gov. Eric Holcomb.