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Federal Reserve raises interest rate target range for first time since 2023
September 21, 2026As anticipated, the Federal Open Market Committee raised its interest rate target range by 25 basis points to 3.75%–4.00% at its September meeting, the first hike since July 2023. The interest rate decision was unanimous. In a change to its previous statement, the FOMC noted that the action would support a timelier return to the…
Manufacturing Output Declines as Broader Industrial Production Holds Steady
September 21, 2026Industrial production stayed the same in August, while manufacturing output decreased 0.3% after ticking up 0.2% in July. At 98.2% of its 2017 average, manufacturing production increased 0.9% from August 2025. Capacity utilization for manufacturing was 75.7%, down 0.3 percentage points from July but up 1.0% over the past year. Capacity utilization for manufacturing remained…
U.S. Import and Export Prices Bounce Back in July
September 21, 2026U.S. import prices increased 0.7% in August, after declining 0.3% in July, with higher prices for nonfuel imports more than offsetting lower prices for fuel imports. Over the year, import prices advanced 7.0%, the largest annual increase since August 2022. Meanwhile, U.S. export prices rose 0.6% in August, driven by higher prices for both agricultural…
Manufacturing Activity in New York Slows in August
September 21, 2026Manufacturing activity in New York state expanded at a slower pace in September, with the headline business conditions index declining 13.0 points to 7.6. The new orders index fell 15.3 points to 2.0, while the shipments index turned negative, decreasing 14.9 points to -3.2. The unfilled orders index dropped 9.6 points to 5.9, while inventories…
Price Pressures Pick up in Philadelphia
September 21, 2026In September, Philadelphia’s regional manufacturing activity expanded at a slower pace, with the index for general business activity falling from 47.4 to 37.8. This month, 45.3% of firms reported increases in activity, while 7.5% cited decreases. New order growth also slowed, moving down from 30.1 to 29.2, while the shipments index stayed the same at…
New Housing Construction Declines in August
September 21, 2026Building permits decreased 2.7% in August but rose 3.5% over the year. Permits for single-family homes in August declined 1.8% but increased 1.3% over the year. At the same time, permits for buildings with five or more units fell 3.1% from July but jumped 9.4% over the year. In August, housing starts declined 2.6% from…
How a Timken Manager Lifts Others Up
September 21, 2026Abby Causey knows firsthand what it’s like to have someone invest in your career. Now, as a plant manager at The Timken Company, she’s doing the same for others, mentoring rising leaders while running one of the company’s largest facilities. Getting her start: As a student at Ohio State University, Causey worked with 3D printers…
NAM-Supported PACK Act Advances in House
September 21, 2026There’s a new source of critical mineral demand: drone warfare (Center for Strategic & International Studies. Canada plays a role: With its rich deposits of critical minerals, Canada is emerging as an alternative to China. Our view: “Securing alternative critical mineral sources and strengthening and expanding America’s critical minerals industry are both crucial to creating…
U.S. Investigates Cyberattacks on Texas-Bound Energy Tankers
September 21, 2026The U.S. is investigating suspected cyberattacks on two Texas-bound energy tankers in August, “spark[ing] concerns that Tehran is looking for novel ways to widen the war in the Middle East” (Foreign Policy Journal). The details: One of the tankers, the VL Prosperity, was carrying over 2 million barrels of oil from Egypt to Texas when…
Timmons Talks EPA Regulatory Win, Permitting Reform with Fox News
September 21, 2026NAM President and CEO Jay Timmons decision to scrap unworkable power plant rules — and why Congress should build on that action by advancing America on Hold report, released earlier this year, found that permitting delays cost more than $7.9 billion each year, while unpredictable timelines can hold back investment and growth.
