Federal Reserve Raises Interest Rates for Second Time in a Decade

The increase was unanimous and modest, raising the Fed’s key interest rate by a quarter point, from a range of 0.25 to 0.5 percent to a range of 0.5 to 0.75 percent.  It reflects Fed officials' confidence in the strengthening of the U.S. economy and what officials see as budding signs of higher inflation.  Full Story

General Business & Real Estate

L.A. Passes Measure JJJ, The Affordable Housing Mandate

Measure JJJ makes it a requirement that developments that require changes to zoning codes set aside a certain percentage of units available for low-income residents. It also requires these projects to hire workers from the City of Los Angeles, and includes incentives for the developments to be built near public transportation.  Full Story

General Business & Real Estate