Update September 19, 2024 -- The stock market closed at all time highs across the board today, in response to yesterday's interest rate cuts by the Federal Reserve. The Dow Jones Industrial Average jumped over 500 points today, closing above 42,000 points for the first time in American history. The S&P 500 also closed at a record high, closing at 5713.64, the most ever.

By Miriam Raftery

September 18, 2024 (Washington D.C.)  -- In good news for homebuyers and other borrowers, the Federal Reserve today lowered interest rates by a full half percentage point.  It’s the first interest rate reduction since 2020 and more than the quarter point reduction that most market analysts had predicted. That brings rates down to between 4.75% and 5.25%, Forbes reports.

Moreover, Fed staff forecasts another cut in November or December, and potentially more cuts in 2025.

Fed Chairman Jerome Powell said of the economy,  “You see growth at a solid rate. You see inflation coming down. You see a labor market that’s still at very solid levels,” adding that he does not anticipate any recessionary effects from the lower Fed rates.

The Fed controls the federal funds rates (interest charged on cash reserve transactions between banks). But the central bank’s rate decisions typically spur lenders to lower rates, which could impact everything from car loans to credit card rates and student loan interest.

East County News Service

September 2, 2024 (San Diego’s East County) – The San Diego Regional East County Chamber of Commerce will host “Politics in Paradise” on Friday, Sept.20 from  5:30 to 8:30 p.m. at the Water Conservation Garden at Cuyamaca College in Rancho San Diego.

Candidates are invited to sign up and participate. Candidates can share their platform and discuss topics with both Chamber members and guests, give a one-minute speech,invite attendees to engage one-on-one questions and answers, bring a table with campaign materials, and solicit fundraising. Candidates must complete this candidate form.

The public is invited to attend and learn more about the people running for local offices seeking to represent East County residents.

By Shiloh Ireland

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August 1, 2024-- East County Magazine met Trader Joe’s Captain Keith Miller for a behind the scenes interview and tour Thursday of his new store in Santee. The store, located at 9680 Mission Gorge Road, opened this morning.

“We’ll have some samples for everyone to try, and we’ll have some fun games we’ll be playing in the store. We’ll have a store mascot, a big-mouthed bass that the kids can find,” he said of the opening day plans. “We’ve been waiting for a long time to come to Santee, and we know the community’s been waiting.”

The new store will have 70 to 80 crew members, including 20-30 transfers familiar with Trader Joe’s culture.  New hiring will continue. He added.