Janet Yellen says Fed will raise rates this year
Federal Reserve Chair Janet Yellen pointed Tuesday to a solid U.S. job market and economy and suggested that the Fed will resume raising interest rates in the next few months.
But with many uncertainties surrounding President Donald Trump’s proposals, Yellen said the Fed still wants to keep assessing the economy.
New business filings grow for 5th straight year in Tennessee
The number of new business filing in Tennessee rose 6.5 percent during the fourth quarter, continuing five years of year-over-year growth in the number of business entities operating in the Volunteer State.
The Tennessee Secretary of State said as of Jan. 1, there were 249,741 active entities in Tennessee. After business dissolutions, the total number of businesses rose 3.4 percent in the final three months of 2017.
“Business leaders continue to choose Tennessee to start or expand their companies,” said Tennessee Secretary of State Tre Hargett. “Our data shows unprecedented growth with no signs of slowing down,.
There were 8,215 new entity filings in the fourth quarter of 2016, including 508 filed in Hamilton County.
Stock rise again to record highs
U.S. stock indexes climbed further into record territory, led by a push higher for banks.
Bond yields rose after Federal Reserve Chair Janet Yellen said the central bank is still on track to raise interest rates gradually.
Starbucks to test coffee and ice cream
Starbucks plans to start testing concoctions that mix coffee and ice cream. The Seattle chain said it will serve “affogato” varieties of hot or cold coffee over ice cream at 100 stores in Orange County, California, starting Wednesday, with pricier versions sold at 10 locations with its “reserve” bars.
Spokeswoman Holly Hart Shafer said the treats were first introduced at the company’s Roastery store in Seattle, which is a pipeline for potential new menu items. She noted that “affogato” means “drowned” in Italian. The priciest version at regular stores is a 12-ounce option that costs $6.45 and mixes cold brew coffee with ice cream.