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Month: June 2023

Is it a ‘skip’ or a ‘pause’? Federal Reserve won’t likely raise rates next week but maybe next month

Is it a ‘skip’ or a ‘pause’? Federal Reserve won’t likely raise rates next week but maybe next month

By CHRISTOPHER RUGABER (AP Economics Writer)

WASHINGTON (AP) — Don’t call it a “pause.”

When the Federal Reserve meets next week, it is widely expected to leave interest rates alone — after 10 straight meetings in which it has jacked up its key rate to fight inflation.

But what might otherwise be seen as a “pause” will likely be characterized instead as a “skip.” The difference? A “pause” might suggest that the Fed may not raise its benchmark rate again. A “skip” implies that it probably will — just not now.

The purpose of suspending its rate hikes is to give the Fed’s policymakers time to look around and assess how much higher borrowing rates are slowing inflation. Calling next week’s decision a “skip” is also a way for Chair Jerome Powell to forge a consensus among an increasingly fractious committee of Fed policymakers.

One group of Fed officials would like to pause their hikes and decide, over time, whether to increase rates any further.

But a second group worries that inflation is still too high and would prefer that the Fed continue hiking at least once or twice more — beginning next week. read more

Canadian tourists are ‘flocking’ back, Visit Florida reports

Canadian tourists are ‘flocking’ back, Visit Florida reports

TALLAHASSEE — Travel to Florida from Canada has nearly returned to pre-pandemic levels, but visa delays continue to complicate the state’s efforts to draw visitors from other countries, according to tourism officials.

The tourism-marketing agency Visit Florida reported Tuesday that the state attracted an estimated 1.44 million Canadians during the first quarter of 2023.

With COVID-19 vaccine restrictions lifted at the Canada-U.S. border, the first-quarter number was up from an estimated 488,000 Canadians in the first quarter of 2022. The state drew 1.446 million Canadians in the first quarter of 2019, the last full year before the COVID-19 pandemic.

During the first quarter of 2020, which had nearly ended as the pandemic started to cause massive disruptions in the tourism industry, Florida drew 1.371 million people from Canada.

“Canadian visitation is where we have seen the biggest rebound by far over the last few months,” Brett Laiken, Visit Florida’s senior vice president of marketing, told members of the agency’s Board of Directors during a meeting in St. Johns County. “Basically, we’re back to where it was prior to the pandemic, with Canadians flocking to the state, which is always good to see.” read more

Largest human-made lagoon in U.S. opens in Pasco County

Largest human-made lagoon in U.S. opens in Pasco County

TAMPA — Tampa Bay is known for its beaches, but a new attraction in Pasco County offers the chance to spend a day by the water without visiting the shore.

The Mirada Lagoon is a human-made body of water that spans more than 15 acres, making it the largest in the United States. Located within the Mirada community in San Antonio, the lagoon features sandy shorelines, a swim-up bar, water slide, kids play area, kayak, paddleboard and cabana rentals and a floating obstacle course.

The lagoon first opened for residents at the end of May, but outside visitors can now purchase day passes on the MetroLagoons website.

Admission differs in price depending on the date and time, but day passes generally range between $20-$45 for adults and $15-$30 for children. Activities like kayaking and the obstacle course can be purchased as add-ons.

There is also a VIP area called “Cabana Cove” for guests 21 and up.

Vaike O’Grady is the vice president of marketing and communications for Metro Development Group. Her company has opened three lagoons around the Tampa Bay area as featured amenities for their master-planned communities. read more