New York on Wednesday announced it will become the second state to ban hydraulic fracturing, ending a five-year moratorium and handing a pivotal win to foes of the revolutionary oil-drilling technique while fueling outrage from proponents of job growth.
Business & Economy
American manufacturers are longing to invest and create new jobs to fuel American growth but are being held back by costly regulations coming from Washington and uncertainty about what lies ahead, the head of the nation’s biggest manufacturing trade group said.
Casting aside a half-century of foreign policy, President Obama on Wednesday said the U.S. will normalize ties with Cuba, open an embassy in Havana and reduce trade and travel barriers — a seismic shift in America’s relationship with the communist island that drew praise from businesses eager to tap into the Cuban market but touched off a bipartisan firestorm on Capitol Hill.
Sending a subtle but clear signal of a change to come, the Federal Reserve Board ended a two-day meeting by holding U.S. interest rates steady and saying it will be “patient” about ending the easy-money stance it has adopted since the onset of the Great Recession.
Resurgent U.S. manufacturers face headwinds from Obamacare’s mandates and taxes, but the law’s namesake has two more years in the White House and public benefits will be hard to reel back despite the recent midterm election results, National Association of Manufacturers President and CEO Jay Timmons said.