(CBS DETROIT) – Detroit Means Business is a coalition dedicated to the needs of growing small businesses in the city. On Tuesday, the organization brought more than 300 entrepreneurs together to expand their network. Mamba Hamissi, the co-owner of Baobob Fare, an East African restaurant in Detroit, says he wants […]
Means
Rate hikes, one year later For its part, the Fed has already hiked its benchmark fund rate eight times over the last year to its current level of between 4.5% and 4.75%. The federal funds rate, which is set by the central bank, is the interest rate at which banks […]
The Federal Reserve raised the target federal funds rate by 0.75 percentage point for the fourth time in a row on Wednesday, marking an unprecedented pace of rate hikes. The U.S. central bank has raised the benchmark short-term borrowing rate a total of six times this year, including 75 basis point […]
March 27, 2020 As COVID-19 continues to spread, states and cities across the U.S. have imposed restrictions — from banning large gatherings to lockdowns, with citizens ordered to stay home except for essential jobs and errands, or get outdoor exercise. These steps came as infection numbers mounted, and the World […]
George Rudy/Shutterstock The road to entrepreneurship is often a treacherous one filled with unexpected detours, roadblocks and dead ends. There are lots of sleepless nights, plans that don’t work out, funding that doesn’t come through and customers that never materialize. It can be so challenging to launch a business that […]