WASHINGTON, Jan. 14 -- The U.S. Department of Defense issued the following news: NAVY RQ Construction LLC, Carlsbad, California (N69450-25-D-0011); Centerra Integrated Services LLC, Herndon, Virginia (N69450-25-D-0012); Islands Mechanical Contractor Inc., Middleburg, Florida (N69450-25-D-0013); Hasen JV*, New Braunfels, Texas (N69450-25-D-0014); and King & George LLC, Fort Worth, Texas (N69450-25-D-0015), are awarded a combined $249,000,000 firm-fixed-price, indefinite-delivery/indefinite-qua  more

MINNEAPOLIS, Minnesota, Jan. 18 -- The Federal Reserve Bank of Minneapolis issued the following article December 20, 2024, by Jeff Horwich entitled "The optimal way for a central bank to regard housing inflation? Ignore it." Here are excerpts: * * * The rising cost of housing has been a powerful force keeping U.S. inflation above the Fed's target. Per the personal consumption expenditures (PCE) price index, housing costs are 5 percent higher than they were one year ago. Core PCE inflation exc  more

MINNEAPOLIS, Minnesota, Jan. 18 (TNSres) -- The Federal Reserve Bank of Minneapolis issued the following Economic Research white paper (No. 809) on December 24, 2024, by Doireann Fitzgerald entitled "3-D Gains from Trade". Here are excerpts: * * * Static trade models imply modest gains from trade. I quantify the gains from trade in a multi-country dynamic stochastic environment, taking into account the contributions to welfare of trade across states of the world, and over time, as well as tra  more

MINNEAPOLIS, Minnesota, Jan. 18 (TNSrep) -- The Federal Reserve Bank of Minneapolis issued the following Economic Research report (No. 663) on January 16, 2025, by Johannes leck, Jonathan Heathcote, Kjetil Storesletten, and Giovanni Violante entitled "Fiscal Progressivity of the U.S. Federal and State Governments." Here are excerpts: * * * Combining a variety of survey and administrative data, this paper measures the progressivity of taxes and transfers at the U.S. federal level and separatel  more

MINNEAPOLIS, Minnesota, Jan. 18 (TNSrep) -- The Federal Reserve Bank of Minneapolis issued the following Economic Research report (No. 662) on December 23, 2024, by ALoisio Araujo, Juan Pablo Gama, and Timothy Kehoe entitled "Risk Loving and Fat Tails in the Wealth Distribution." Here are excerpts: * * * We study the dynamic properties of the wealth distribution in an overlapping generations model with warm-glow bequests and heterogeneous attitudes towards risk. Some dynasties of agents are r  more

WASHINGTON, Jan. 18 -- Sen. Amy Klobuchar, D-Minnesota, issued the following statement on Jan. 17, 2025: * * * U.S. Senator Amy Klobuchar (D-MN) released the following statement on today's announcement of the additional fifteen of drugs selected for Medicare negotiation. Negotiating prescription drug prices on behalf of Americans was made possible through provisions in a 2022 law based on Klobuchar's legislation to lift the nearly 20-year ban that stopped Medicare from being able to negotiate   more

MINNEAPOLIS, Minnesota, Jan. 18 (TNSrep) -- The Federal Reserve Bank of Minneapolis Opportunity and Inclusive Growth Institute issued the following white paper (No. 109) on January 8, 2025, by Stefania Albanesi entitled "Changing Business Cycles: The Role of Women's Employment". Here are excerpts: * * * Women's labor force participation rose rapidly in the post-war period in the United States until the mid-1990s when it flattened out. I examine the impact of this change in trend in female la  more

MINNEAPOLIS, Minnesota, Jan. 18 (TNSrep) -- The Federal Reserve Bank of Minneapolis Opportunity and Inclusive Growth Institute issued the following white paper (No. 108) on December 20, 2024, by Andrew Goodman-Bacon and Vanessa Palmer entitled "How Do Low-Income Households Respond to Basic Income? Experimental Evidence from Minneapolis". Here are excerpts: * * * We study a randomized controlled trial that gave $500 per month for 24 months to 200 low-income people in Minneapolis, Minnesota. 3  more

MINNEAPOLIS, Minnesota, Jan. 18 (TNSrep) -- The Federal Reserve Bank of Minneapolis Opportunity and Inclusive Growth Institute issued the following white paper (No. 110) on January 15, 2024, by Rebecca Jack, Daniel Tannenbaum, and Brenden Timpe entitled "The Parenthood Gap: Firms and Earnings Inequality After Kids". Here are excerpts: * * * We document the dynamics of career paths around parenthood, capturing worker advancement within firms and across firms of differing pay. Using a new link  more

MINNEAPOLIS, Minnesota, Jan. 18 -- The Federal Reserve Bank of Minneapolis issued the following analysis on December 18, 2024, by Caryn Mohr entitled "A new era for Indigenous data sovereignty": Here are excerpts: * * * In a movement that was millennia in the making, and that looks out seven generations into the future, this is a moment. Speakers at the 2024 Center for Indian Country Development (CICD) Data Summit, held on November 13, celebrated growth in Native communities' economic data c  more

MINNEAPOLIS, Minnesota, Jan. 18 -- The Federal Reserve Bank of Minneapolis issued the following analysis on January 2, 2025, by Libby Starling, Alene Tchourumoff, and Maxine Xu entitled "After recent successes, Twin Cities region's housing-supply progress slips": Here are excerpts: * * * In 2023, the Twin Cities region failed to meet an overall housing-supply goal and barely met a goal for creating affordable housing but saw continued progress on a goal to increase Black homeownership. The mi  more

MINNEAPOLIS, Minnesota, Jan. 18 -- The Federal Reserve Bank of Minneapolis issued the following analysis December 16, 2024, by Mary Hogan entitled "Examining unemployment insurance: Now is the time": Here are excerpts: * * * In times of job losses, UI not only can serve as an important support for workers and their families but also help maintain healthy consumer spending. In 2023, workers received a total of over $30 billion in UI benefits. Following the disruptions of the COVID-19 pandemic,  more

MINNEAPOLIS, Minnesota, Jan. 18 -- The Federal Reserve Bank of Minneapolis issued the following analysis on January 7, 2025, by Ayushi Narayan and Ryan Nunn entitled "How unemployment insurance access and benefits vary by state": Here are excerpts: * * * Unemployment insurance (UI) serves as the core government program supporting workers and communities during times of job loss. UI can also help stabilize the economy during downturns by keeping individuals and families financially afloat and   more

ST. PAUL, Minnesota, Jan. 18 -- Twin Cities Habitat for Humanity issued the following news: Bridgette was on cloud nine when she closed on her home in summer 2024. As a participant of Twin Cities Habitat's Advancing Black Homeownership Program, her days of worrying about rising rent were over. She picked paint colors intentionally, put everything in its place, and created a calm space. The best part? Her grandson now gets his own room when he visits. Bridgette's story is just one example of how  more