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Semiconductor Companies Invest in Talent Development
November 3, 2026CNBC). What’s going on: “Only 3% of U.S. graduates who take engineering roles enter the semiconductor industry each year, according to McKinsey, and 73% of chip employers report significant difficulty in filling engineering roles.” The semiconductor industry needs many more skilled technicians and engineers as it expands to meet demand driven by the artificial intelligence…
Labor Dept. Finalizes PBM Transparency Rule
November 3, 2026The Wall Street Journal, subscription). What’s going on: Under a Department of Labor rule finalized last week, PBMs “will have to provide their employer clients with granular information about the prices they pay for pharmaceuticals, as well as payments they receive from drugmakers,” starting in July 2027. The new rule aims to address
Richmond District Factory Growth Declines, While Investment Outlook Improves
November 2, 2026Manufacturing activity in the Fifth District contracted at the same pace in October after declining in September, with the composite manufacturing index remaining at -2. At the same time, local business conditions also declined, falling from -6 to -8 in October. In line with worsening business conditions, manufacturers are less optimistic about the future, with…
Consumer Confidence Rises as Expectations Strengthen
November 2, 2026Consumer confidence rose 7.5 points in October to 91.7. Among its components, the Present Situation Index and Expectations Index both strengthened as consumers’ views of current conditions and their outlook for the future improved. The Present Situation Index, reflecting current business and labor market conditions, rose 8.6 points to 120.4. Meanwhile, the Expectations Index, which…
Federal Reserve Keeps Rates Steady After Hiking Last Month
November 2, 2026As anticipated, the Federal Open Market Committee maintained its interest rate target range at 3.75%–4.00% at its October meeting. On the other hand, two FOMC members—Lisa Cook and Beth Hammack—dissented from the action, preferring to raise the target range by 25 basis points. In a change to its previous statement, the FOMC noted that the…
Economic Growth Accelerates in the Third Quarter
November 2, 2026Real GDP increased at an annual rate of 3.4% in the third quarter of 2026, up from a 2.2% rise in the second quarter and above consensus expectations. The increase in GDP during the third quarter mostly reflected increases in consumer spending, investment and government spending, which were partially offset by reductions in exports. Consumer…
Texas Factory Activity Slows, While Perceptions Strengthened
November 2, 2026In October, Texas factory activity expanded at a slower pace after strengthening the prior month. The production index decreased from 29.5 to 15.8, but remained positive and above the series average of 9.7. The new orders and capacity utilization indices also both weakened, falling from 30.7 to 9.3 and from 23.9 to 13.7, respectively. At…
Home Prices Grow in August But Continue to Decline in Real Terms
November 2, 2026In August, the S&P Cotality Case-Shiller U.S. National Home Price Index recorded a 2.1% annual gain, up from a 1.9% rise in July. The 10-City Composite increased 3.6% year-over-year, up from a 3.4% gain the previous month, while the 20-City Composite moved up 2.7%, up from 2.5%. Chicago again posted the highest annual gain at…
