The Federal Open Market Committee Holds Interest Rates Steady and Seeks Price Stability (June 17th, 2026)

(Illustrative Only)

Deep in the forest
outside Bark River
.........🙃

Buy now and 
pay later or
Save now and 
buy later?

The interest rates established by the Federal Open Market Committee (FOMC) help determine the federal funds rate, which influences borrowing costs throughout the economy. These rates affect everything from car loans and mortgages to business financing, credit cards, and other forms of lending. As interest rates rise, borrowing becomes more expensive, which can influence spending, investment decisions, and overall economic activity.

For business owners and executives, monitoring interest rate decisions is important because they provide valuable insight into future economic conditions. While interest rates may seem like a finance-specific topic, they can help organizations anticipate changes in operating costs, financing expenses, supplier pricing, and consumer demand. Understanding these trends can support more informed planning and strategic decision-making.

Interest rates also have a direct impact on personal finances. Changes in rates can affect credit card balances, personal loans, home loans, and savings returns. By paying attention to Federal Reserve announcements, individuals can better understand the financial environment and make more informed decisions about borrowing, saving, and investing. Staying aware of these economic indicators can improve both personal and business financial management.

Federal Reserve Holds Interest Rates Steady and Reaffirms Commitment to Price Stability

• The Federal Open Market Committee (FOMC) voted unanimously to maintain the federal funds rate target range at 3.50% to 3.75%, citing continued economic expansion and a relatively stable labor market.
• The Committee noted that inflation remains above its 2% target, with elevated price pressures attributed in part to sector-specific supply disruptions, particularly in energy markets.
• Policymakers emphasized their ongoing commitment to restoring price stability while supporting maximum employment, consistent with the Federal Reserve’s dual mandate.
• The FOMC reaffirmed its policy of maintaining ample reserves in the banking system and continued its current balance sheet approach.
• Updated projections and accompanying communications suggested that policymakers remain concerned about inflation risks, with some expectations that interest rates could move higher later in 2026 if inflation pressures persist.

Board of Governors of the Federal Reserve System. (2026, June 17). Federal Reserve issues FOMC statement. Federal Reserve. https://www.federalreserve.gov/newsevents/pressreleases/monetary20260617a.htm

Corruption and Economic Development: The Potential Costs of Hate and Corruption

Let us continue exploring the moral, economic, and legal dimensions of corruption through the Allegory of the Clan. This philosophical thought experiment is modeled in part after the Allegory of the Cave. As participants move through each stage of the allegory, they gain greater insight into how corruption develops, how it can be recognized, how it can be minimized within society and communities, and how it affects economic and social development.

When examining the research and evidence on corruption, a consistent pattern emerges: corruption weakens governance. It diverts resources away from productive investments, increases transaction costs, and slows innovation (Economic transactional theories support this.) As corruption is challenged and reduced, societies often experience lower crime rates, higher household incomes, and the creation of new opportunities through greater transparency, knowledge, and awareness.

Corruption weakens institutions because individuals within those institutions may use taxpayer resources for purposes that are illegal, unconstitutional, or inconsistent with human and civil rights. In many cases, favoritism replaces fairness, and public resources are directed toward benefiting a select group rather than serving the broader community. Even when whistleblowers and witnesses come forward they are silenced and victims dehumanized. This creates significant economic inefficiencies and wastes valuable resources (There are moral conscious questions that come forward.). 

The consequences extend far beyond the immediate victims. Corruption imposes costs on all members of society. It robs the next generation of options and opportunities who are likely to struggle more than our own (It might be hard to sell that is why correction and/or reform is slow.). Resources that could have been invested in education, infrastructure, healthcare, entrepreneurship, or economic development are instead consumed by activities that produce little or no public value. As a result, economic growth slows, trust erodes, innovation declines, and communities lose opportunities to improve quality of life and their economic health.

Through the Allegory of the Clan, we seek to better understand these dynamics and examine how transparency, accountability, ethical leadership, and civic engagement can strengthen institutions and contribute to greater prosperity for all. The next generation of best and brightest should join these institutions to support them, we should think about the type of people we elect beyond partisanship, and alway seek to improve as much as possible. Support what is good and try to correct what is wrong. There are no perfect systems only trajectories towards higher performance. You can come to any conclusion you so desire and that is ok as long as you thought about it. 

Corruption and Economic Development: Understanding the Costs of Weak Governance

• Corruption diverts resources away from productive investments and public services, reducing economic efficiency and slowing long-term economic growth. Funds that could support infrastructure, education, and healthcare are often redirected toward private gain.

• Businesses operating in corrupt environments face higher transaction costs, greater uncertainty, and barriers to market entry. These conditions discourage entrepreneurship, innovation, and investment while reducing overall productivity.

• Corruption weakens institutions by encouraging regulatory capture, favoritism, and rent-seeking behavior. As a result, policies may benefit special interests rather than promoting competition, economic development, and public welfare.

• Financial systems can be adversely affected by corruption. Research cited by Nature indicates that higher levels of corruption are associated with greater levels of nonperforming loans, weakening banking systems and contributing to slower economic growth.

• The negative effects of corruption are often most severe in developing economies where institutional safeguards are weaker. Poor governance can create a cycle of underdevelopment characterized by lower investment, reduced human capital development, greater inequality, and diminished public trust.

Nature Index. (n.d.). Corruption's impact on economic development. Nature Research Intelligence Topics. Retrieved June 17, 2026, from https://www.nature.com/nature-index/topics/l4/corruption-s-impact-on-economic-development

Detroit Economic Club: The Future of US Steal and Economy

Trying to understand the economy and the underlying factors that drive long-term growth requires looking at some of the core inputs that support economic activity. Steel is a good example, as many industries depend on it directly or indirectly. The same can be said for digital technologies, infrastructure, and other foundational sectors that enable innovation and productivity across the economy.

(Illustrative Only)

Mining in the UP could
make a come back. 
Places like Escanaba
have a Port that
could be further developed
and a budding ship
repair/building potential.

Pondering the possibilities of 
the future. 

Visit Escanaba.

and

Pictures of Escanaba
Ore Dock-Delta
County Historical
Society

When we invest in strong industries that support many other industries, those investments often create long-term benefits that extend far beyond the initial impact. At the same time, we need to be strategic. It does not make sense to continually support industries that are unable to compete, but it does make sense to help industries become more competitive. That requires ongoing innovation, improved efficiency, lower costs, higher quality, and a commitment to continuous development.

These goals are achievable if we remain focused on strengthening the foundations of the economy and reorienting investments toward opportunities that are emerging in the digital era. Building competitive industries today can create significant economic advantages in the future.

While searching for a newer video on this topic, I came across a presentation from the Detroit Economic Club. The organization is well known for hosting influential speakers and discussions on business and economic issues. Although this was not the newest presentation available, I found it worthwhile. I uploaded the transcript for analysis and summarization, and the results are provided below.

• The Nippon Steel Deal Revival & Oval Office Insight: After President Biden originally killed the deal based on political and labor pressures, U.S. Steel successfully lobbied President Trump to study the transaction. This ultimately led to a massive, renegotiated $14 billion investment from Nippon Steel.

• The "Golden Share" Structure: To preserve U.S. Steel's national legacy and identity, the deal includes a "Golden Share" mechanism that grants the U.S. President veto power over material corporate choices, such as changing the iconic company name, shifting headquarters out of Pittsburgh, or idling facilities.

• The "Best of Both" Production Strategy: U.S. Steel is leveraging a dual footprint that pairs legacy, unionized "integrated mills" (which refine raw materials to produce high-end automotive steel) with highly efficient, low-carbon electric arc "mini-mills" (which recycle scrap steel into milder products).

• U.S. Energy Independence & Advantage: The massive shift toward electric arc mini-mills in the United States (comprising 70% of the domestic market) is structurally supported by robust U.S. energy independence, giving the domestic industry a sharp cost and productivity advantage over European and Asian competitors facing high energy prices.

• National Security & Global Trade Defenses: Steel remains a vital national security industry. Strict 232 and 301 tariff barriers are actively used to protect the domestic market from massive Chinese overcapacity (representing over a billion tons globally) and indirect route-dumping through other nations.

VA Funded Projects 2026: Supporting Veterans Through Research, Recovery, and Opportunity

Supporting our veterans is an important responsibility. They have served their nation, protected our freedoms, and often possess a deep understanding of the sacrifices required to preserve those freedoms. As a society, we should continue to invest in programs and research that help veterans maximize their opportunities, recover from injuries, and maintain a high quality of life.

The FY 2026 U.S. Department of Veterans Affairs research portfolio highlights ongoing efforts to address many of the challenges veterans face. Funded projects focus on critical health issues such as chronic pain, mental health, rehabilitation, traumatic injuries, cancer, cardiovascular disease, and other long-term health conditions. The goal is not only to advance scientific knowledge but also to translate research findings into practical improvements that enhance veterans' daily lives and health outcomes.

Supporting veteran research helps drive innovation in healthcare while honoring the service of those who have served our country. Equally important is supporting the employment of veterans, recognizing the leadership, discipline, resilience, and experience they bring to the workforce. By investing in research and creating opportunities for meaningful employment, we can help ensure that veterans receive the support and recognition they have earned.

U.S. Department of Veterans Affairs FY 2026 Funded Research Projects: Advancing Veteran Health and Well-Being

• The U.S. Department of Veterans Affairs (VA) is funding hundreds of research projects in FY 2026 that address critical health challenges affecting veterans, including cardiovascular disease, cancer, diabetes, traumatic brain injury (TBI), mental health conditions, chronic pain, rehabilitation, and aging-related health concerns.
• Several large-scale clinical trials focus on improving treatment outcomes and disease prevention, including studies on lung cancer screening, liver cancer detection, cardiovascular health, diabetic complications, kidney disease, and musculoskeletal disorders.
• Mental health and suicide prevention remain major priorities, with funded projects examining PTSD treatment, sleep disorders, peer-support interventions, cognitive rehabilitation, recovery-focused suicide prevention programs, and technology-enabled mental health care solutions.
• Rehabilitation and disability research receive substantial support through studies on prosthetics, spinal cord injuries, stroke recovery, mobility enhancement, chronic pain management, neuroplasticity, telehealth rehabilitation, and functional recovery interventions designed to improve quality of life for veterans.
• The VA continues to invest in innovation through specialized research centers and emerging technologies, including precision medicine, artificial intelligence, data analytics, biomedical engineering, advanced prosthetics, neuroscience, and personalized approaches to veteran healthcare.

U.S. Department of Veterans Affairs, Office of Research and Development. (2026). FY 2026 VA-funded projects. U.S. Department of Veterans Affairs. https://www.research.va.gov/about/funded_research/projects-FY2026.cfm

Employment Projections 2024–2034: Trends and Skill Development

The January 2026 employment projections for 2024–2034 help highlight several important long-term workforce and economic trends. While the report was released a few months ago, its value lies in examining broader patterns that extend over an entire decade. Short-term economic fluctuations are unlikely to significantly alter the overall direction of these trends.

One key finding is that employment growth is expected to continue, although at a slower pace than in previous decades. As the population ages, demand for healthcare services, social assistance, and related occupations is expected to increase substantially. At the same time, the economy is becoming increasingly technology- and science-oriented, creating new opportunities in fields such as information technology, engineering, data analytics, and research.

Artificial intelligence is also expected to play a significant role in reshaping the workforce. While some tasks and occupations may become automated, AI is likely to create new opportunities for workers who can develop, manage, and effectively use emerging technologies. In addition, continued growth in digital commerce and digital business operations will increase demand for workers with technology, cybersecurity, logistics, and digital communication skills. Some workers might be able to stay in the workforce longer and delay retirement.

For employees, these projections reinforce the importance of continuous learning and professional development. Building technical skills, strengthening problem-solving capabilities, and remaining adaptable to changing workplace technologies will be critical for long-term career success. For businesses, investing in employee development and workforce training will remain an important strategy for maintaining competitiveness in an increasingly technology-driven economy.

 (We been discussing on this blog human capital development as a necessary component that maximizes the benefits of new technologies. They call this a type of economic synergy. You can measure how they intererelate. In theory.)

BLS Employment Projections 2024–2034: Healthcare, Technology, and the Future of Work

• The U.S. labor market is projected to grow by 3.1% between 2024 and 2034, adding approximately 5.2 million jobs, increasing total employment from 170.0 million to 175.2 million. Growth is expected to be slower than the previous decade because of demographic trends, including an aging population and slower labor force growth.
• The healthcare and social assistance sector is projected to experience the largest employment gains, adding nearly 2 million jobs. Demand for healthcare services, long-term care, mental health services, and home-based care will be driven largely by population aging and increasing rates of chronic disease.
• Professional, scientific, and technical services are expected to be among the fastest-growing sectors, adding more than 800,000 jobs. Strong demand for consulting, information technology, research, and business services will support employment growth across these industries.
• Artificial intelligence (AI) is expected to reshape employment patterns by increasing productivity and reducing labor demand in some occupations, particularly administrative support, sales, and certain design-related fields. At the same time, AI is expected to create demand for workers involved in developing, implementing, and supporting AI technologies.
• Growth in e-commerce and digital technologies is expected to increase employment in transportation, warehousing, logistics, software publishing, cloud computing, cybersecurity, and related technology occupations, while retail trade employment is projected to decline.

Rieley, M. J., & Colato, J. (2026, January). Industry and occupational employment projections overview and highlights, 2024–34. Monthly Labor Review, U.S. Bureau of Labor Statistics. https://doi.org/10.21916/mlr.2026.1

2026 Global Talent Barometer: The Strategic Importance of Human Capital in a Technology-Driven Economy (Thor Axes)

(Illustrative Only)

Lumberjacks training on 
use of Thor AI Axes
somewhere out in
Rapid River (just kidding).
 🙃

Technology and human
capital can enhance 
each other. 

Human Capital Economy

Economy Social Motivation

Economic Systems and Needs

Global talent is a critical driver of both business success and economic prosperity. As discussed previously, enhancing human capital through education, skills development, scientific advancement, innovation, and broader societal development is essential for long-term growth. Emerging technologies are creating new opportunities to improve individual capabilities and workforce performance, enabling people to develop skills more efficiently and adapt to changing economic demands. These advancements can translate into stronger economic outcomes at both the individual and organizational levels, ultimately contributing to greater productivity, innovation, revenue generation, competitiveness, and the creation of valuable products and services that support overall economic development.

2026 Global Talent Barometer: AI Adoption, Worker Confidence, and Workplace Well-Being

• The global Talent Barometer score declined to 67% in 2026, driven primarily by a decrease in worker confidence, while well-being and job satisfaction remained relatively stable.

• Worker stress and burnout remain significant concerns. Nearly half of workers reported high daily stress, and two-thirds indicated they had recently experienced burnout, most commonly due to stress and excessive workloads.

• AI adoption increased substantially, with 45% of workers regularly using AI at work, up 13% from the previous year. However, confidence in using AI and emerging technologies declined, contributing to an 18% drop in overall worker confidence.

• Most employees (64%) intend to remain with their current employer, yet 60% are actively seeking new opportunities. At the same time, 50% of workers reported supplementing their income through investments, part-time work, or freelance activities.

• Organizations face growing pressure to address AI-related skill gaps. More than half of workers reported receiving no recent training or mentoring, suggesting that increased workforce development efforts are needed to restore confidence and support future productivity gains.

ManpowerGroup. (2026). Global Talent Barometer 2026 report and key findings. ManpowerGroup. https://www.manpowergroup.com/en/insights/global-talent-barometer-2026-report-and-key-findings

Equestrian Sports, Fitness, and Rider-Horse Performance

 Horse riding is an activity that requires both fitness and skill. Riders need balance, flexibility, coordination, and core strength to perform well and remain comfortable in the saddle. Like many sports, the more you ride, the better you become. Over time, riders develop significant muscle memory, allowing them to communicate more effectively with their horses and react naturally to movement.

The equestrian industry also creates a strong sense of community. In Delta County, Michigan, there are many smaller farms and rural properties that are well suited for raising, training, and keeping horses. The local equestrian community is active, with riders participating in events, competitions, and social gatherings throughout the area. Many horse owners know one another and share a passion for the sport and lifestyle.

As a licensed fitness trainer and yoga instructor, I can help riders improve their core strength, flexibility, balance, and overall fitness to support their equestrian goals. If you are interested in developing a fitness program tailored to riding, feel free to send a message.

If you are considering starting a horse operation or looking for property suitable for horses, Delta County offers a variety of rural properties that may be worth exploring.

A Narrative Review of Factors Influencing Rider Performance and Horse Welfare in Equestrian Activities

• The review examines the unique partnership between horse and rider, emphasizing that successful equestrian performance depends on the interaction of two athletes with different physical and psychological needs.
• Rider characteristics such as physical fitness, balance, posture, coordination, strength, and psychological preparedness can significantly affect both competitive outcomes and horse welfare.
• Effective communication between horse and rider is essential. The quality of cues, training methods, and mutual trust influences performance, safety, and the well-being of the horse.
• The review highlights that poor riding techniques, inadequate fitness, or inappropriate training approaches may negatively impact horse health, stress levels, and overall welfare.
• The authors conclude that future research should adopt a more integrated approach that considers both rider-centered and horse-centered factors to improve performance while promoting ethical treatment and welfare standards in equestrian sports.

Balog, O., Havanecz, K., Csányi, T., Ökrös, C., Tóth, L., & Berki, T. (2025). A narrative review of factors influencing rider performance and horse welfare in equestrian activities. Frontiers in Sports and Active Living, 7, Article 1744918. https://doi.org/10.3389/fspor.2025.1744918