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Not this time, but expect interest rates to get cut soon – our expert can explain why

It was all eyes on the Fed this week, but when it came to decide, Federal Reserve Chairman Jerome Powell held U.S. Interest rates steady and unchanged. The pressure was on to lower the rates amid serious concerns that the current trade wars and tariff action could start impacting America’s economy and slow it down. Narayana Kocherlakota, the Lionel W. McKenzie Professor of Economics at the University of Rochester wasn’t surprised by the June decision to remain steady. And with serving six years as president of the Federal Reserve Bank of Minneapolis, his expertise and perspective indicates lower rates will come at the next meeting. “I am not expecting a change in policy, which means the interest rates should remain the same. What I am expecting is a lot of discussion, which takes place in secret, about cutting interest rates by a quarter percentage point at their next meeting in July. Why would they do that? The Federal Reserve is tasked with trying to keep inflation at 2 percent and keep unemployment low. Right now unemployment is about as low as it’s been in the past half-century, which is very good. Inflation remains lower than the Federal Reserve would like—it’s been below 2 percent for most of the last seven years. I think they’re mainly worried about risks. There are signs of risk around the world partly due to big variations in trade policy emerging from the White House. So, the Fed is thinking about cutting rates now in order to keep the economy as healthy as possible, if there’s any danger of a recession.” University of Rochester Newscenter. Will lower rates really keep America’s economy humming? Won’t lower rates impact the strong US dollar? And if we are headed toward recession, what else can de done to turn the economy around? There are a lot of questions – and that’s where our experts can help. Dr. Narayana Kocherlakota was the President and CEO of the Federal Reserve Bank of Minneapolis from 2009-2015. As part of his responsibilities in that position, he served on the Federal Open Market Committee (FOMC), the monetary policymaking arm of the Federal Reserve System. He is currently a Lionel W. McKenzie Professor of Economics and is an expert in financial economics, interest rates and monetary policy. Narayana is available to speak with media regarding the economic effects of the shutdown – simply click on his icon to arrange an interview.

What will a ban on single-use plastic mean for small businesses in Canada?

Being environmentally friendly has become a popular trend. Climate change is occurring, and news stories of wasteful plastics clogging our waterways are becoming more frequent, making the battle against plastic waste an election issue. Earlier this month, Prime Minister Trudeau announced a ban on single-use plastics by 2021 that will likely include straws, plastic cups, food wrapping and grocery bags. It's evident, being environmentally friendly is in everyone's best interest, but business owners are concerned about what costs will arise as a result. Companies use plastics cups, lids and straws for take-out, plastic wrap as a significant part in food safety and freshness, and plastic bags for clients to transport purchases home. Even though these plastics are environmentally harming, some still see them as essential. There are more than 1.1 million small businesses in Canada, and most of them will have to adapt or adjust to: How will this impact their bottom-line? How slim are the margins already for most small retailers? Are incentives for businesses required before implementing this new policy? These are some of the critical questions to ask. If your small business will be affected, contact one of our experts to help. James Brutto, Manager at Freelandt Caldwell Reilly LLP, is an expert in the areas of accounting, auditing, finance and entrepreneurship. Contact James to arrange an appointment regarding this topic by clicking the contact button below. Sources:

Up, Down or Steady – What do Interest Rates Really Mean for Our Economy?

The heat was on Federal Reserve Chairman Jerome Powell this week to lower interest rates coming out of the June meetings of the Fed. He was under scrutiny from President Trump and others who share a growing worry that America’s economy could be slowing down and potentially turning toward recession.  An option that is neither appetizing for investors, the business community or politicians looking for positive messaging as an election looms in 2020. Powell held the rates steady but there is massive speculation this will be for the last time and that rates will begin to be cut as of the next meeting of the Federal Reserve. There are a lot of questions about interest rates and the economy: How do rates encourage or dissuade investment and business? How much of a rate cut will it take to impact the economy? Do interest rates and the dollar go up and down in tandem? And how independent is the Fed and who influences these decisions? If you are covering, we can help. Jeff Haymond, Ph.D. is Dean, School of Business Administration at Cedarville and is an expert in finance and trade. Bert Wheeler, Ph.D. specializes in macroeconomics, international trade, economic development, and econometrics. Jeff and Bert are both available to speak to media regarding the current trade war with China – simply click on either expert’s icon to arrange an interview.

It’s been 50 years since Stonewall…but has America really accepted gay rights?

It’s been a half-century since the Stonewall Uprising and the emergence of the gay pride movement. As cities across the world celebrate this month, it might also be time to look at where America stands today when it comes to gay rights. “From the perspective of veteran activists, the progress has been astounding. In 1969, every state but Illinois outlawed gay sex, psychiatric experts classified homosexuality as a mental disorder, and most gays stayed in the closet for fear of losing jobs and friends. “Today, same-sex marriage is the law of the land in the U.S. and at least 25 other countries. LGBT Americans serve as governors, big-city mayors and members of Congress, and one — Pete Buttigieg — is waging a spirited campaign for president.” June 17, ABC News But there is still a lot of work to do. LGBTQ people not only face discrimination in the workplace, in health care settings and even public restrooms, but can also suffer threats of violence. Just last month, the nation was shocked to learn of the chilling attack of an American woman and her partner overseas in London. The lesbian couple was violently assaulted by teens on a double-decker bus, leaving one of the women with a broken jaw, after they refused to publicly kiss one another in front of the group of young men who were harassing them. Are you covering this topic? There are a lot of questions about what needs to be done and that’s where our experts can help.   Todd Powell-Williams, associate professor of Sociology at Augusta University, is an expert in social movements, social control, religion, police science and symbolic interactionism. Dr. Powell-Williams is available to speak with media about gay rights and where America stands 50 years after Stonewall. Simply click on her icon to arrange an interview.

Learn the facts – and falsehoods -- about ‘curing’ cancer

When it comes to cancer awareness, any news, promotion and exposure is good news. The goal of those on the frontlines of the battle against this disease is to inform the public, every message encouraging healthier living, prevention methods and hopefully, inspiring more people to support cancer research.   Doctors can successfully treat cancer. However, there is no cure. Just this month, as the political rhetoric continues ramping up for the 2020 election, former Vice President Joe Biden used cancer as a platform. "A lot of you understand what loss is and when loss occurs, you know that people come up to you and tell you 'I understand' if you lose a husband, a wife, a son, a daughter, a family member," he said. "That's why I've worked so hard in my career to make sure that — I promise you if I'm elected president, you're going to see the single most important thing that changes America, we're gonna cure cancer." – USA Today, June 12 For Biden, cancer is an issue that is close to him. He lost his son to brain cancer in 2015. He’s passionate and deeply invested in those who have also lost a loved one to the disease. But his messaging was not accurate. If you are covering cancer research, prevention and the quest for the best possible outcomes for those diagnosed and being treated for the disease, the Georgia Cancer Center at Augusta University has experts who can help with your stories. Dr. Daniel Albo is able to discuss the fact that yes, there are highly successful treatments for a variety of different cancers. But, there is no “single bullet” that will cure every kind of cancer there is. This is the mistake Biden made during his speech. For some cancer patients, it’s about working with their doctor to find ways to manage their disease during the entirety of their life, similar to high blood pressure, diabetes, etc. To find new treatment options and therapies for all kinds of cancer, it will take investment from multiple levels of government. But money is not all that is needed. It will take basic science researchers working with clinicians to make new “bench-to-bedside” treatment discoveries. Also, public health and prevention, as well as improving access to health care, are essential to ending the burden cancer puts on patients, their family and their friends. Dr. Albo serves as Chair in the Department of Surgery for the Medical College of Georgia, the Surgeon-in-Chief for Augusta University Health System and associate director of surgical services for the Georgia Cancer Center. He is available to speak with media – simply click on his icon to arrange an interview.

Why it just makes ‘cents’ to know your financial ABCs early in life – let our expert explain.

Managing money, understanding interest and how to avoid debt – all these elements make up some of the very basics of financial literacy.  However, despite a humming economy and record low unemployment, more and more Americans are falling deeper into debt. Just recently, CBS News reported that roughly 4 in 10 Americans can’t cover an unexpected bill of 400 dollars. Something desperately needs to be done about not just how we are handling our money – but when we are taught the how banking, money and personal finances work. It’s a topic of concern and one that is gaining traction. Showbiz moguls Will Smith and Nas invested in a financial literacy app for teens (see attached article). The issue is finally on the radar of leaders in Washington and throughout the country as well, with 19 states now requiring financial education to graduate, according to the Council for Economic Education, up from 13 in 2011. Can these efforts make a real impact and reverse the tide of financial illiteracy? How did America get to this point? Is this about our spending habits and access to credit or a lack of education? And if we don’t correct the curse – what could it mean for our economy? There are a lot of questions and that’s where our experts can help! Professor Jonathan Clarke is an award-winning teacher and researcher in the fields of investment banking, finance and analysis. Clarke created a personal finance course that is offered to all Georgia Tech students that provides the importance of budgeting, basics of credit, as well as more advanced financial topics such as investing and trading. He’s an expert in the field and is available to speak with media about economics and the importance of financial literacy – simply click on his icon to arrange an interview. He has also developed a one-week summer course for high school students – Wall Street on West Peachtree and annually assists the Boy Scouts with obtaining their finance badge.

College readiness: Why it’s time to turn the page on one-off developmental courses

With summer officially here, millions of recent high school graduates and adult learners alike are preparing for college this fall. Unfortunately, a large percentage of them need developmental courses in order to advance, and many of those students will drop out within their first year—victims of a college preparedness approach that is generally not working. While it is true that education provides one of the surest pathways to a better life, millions of individuals do not have the academic background, confidence, mindset, and study habits to succeed in postsecondary programs and achieve their career dreams. Underprepared students face serious hurdles when attempting to enroll in college, and often struggle with one or more of the following: Poor self-image, lack of confidence (and overconfidence), and undeveloped study skills Weak math skills and math phobia Poor writing/language skills Lack of preparation for rigorous reading of texts, analytical thinking, and problem-solving Despite the poor track record, an estimated $7 billion is spent annually on traditional remedial education by students and institutions. According to research, 68 percent of community college students and 40 percent of public four-year college students take at least one developmental course, and among them less than 10 percent of two-year students graduate within three years, and only 35 percent of four-year students graduate within six years. Solutions exist, according Pat Partridge, president of WGU Academy—an independent nonprofit entity established by Western Governors University (WGU) to help solve the growing college-readiness gap. He suggests that for college readiness to be effective, programs must incorporate noncognitive personal competencies. “The Academy’s approach is based on the premise that to make college-readiness effective we must address the whole person rather than just getting them through one-off math or English courses to satisfy admissions requirements. Our two-pronged approach to preparing students—focused on academic coursework and noncognitive personal skills—is challenging traditional thinking paradigms that are not working well. The program is designed to be transformative for students who need confidence and persistence, social and emotional learning skills, and customized support to position them for long-term academic and career success.” Studies show that students and families pay an extra $3,000 on skills and content they should have learned in high school—a hefty price for courses that typically offer no transferable credits. Partridge suggests that programs like Academy—which uses an online, competency-based learning model similar to WGU’s—can change that by offering a scalable, replicable solution. WGU Academy students pay $150 per month, and most enrollees should finish the program in three to four months, or even less—making it a low-cost, low-risk solution. And the courses are ACE (American Council on Education) recommended, which hundreds of colleges and universities recognize. “The challenge is far larger than WGU alone can tackle, which is why Academy is designed to help serve hundreds of thousands of individuals who are not likely to attend WGU” Partridge noted. “We look forward to working with other entities that share the same mission to help individuals succeed in college and their careers—both recent high school grads and adults—by boosting completion rates.” WGU Academy’s first partnership is with tnAchieves in support of Tennessee’s flagship scholarship program that allows any resident without a postsecondary certification to attend community college tuition-free. WGU Academy, which launched May 1, 2019, already has more than 600 enrolled students. To speak with Partridge, contact WGU Academy’s PR Business Partner, Matt Griffin, at matt.griffin@wgu.edu or (615) 472-6056.

Banning single use plastics – grasping at political straws or a realistic first step toward a healthier planet?

There’s no question about it – our planet has a problem with plastic. Though simple, cheap, convenient and often necessary, the reality is single use and non-reusable plastics like straws, plastic bags, wrapping and most containers are causing problems. There’s no hiding or ignoring the evidence – plastic is everywhere from landfills, to our rivers and streams and even occupying its own land mass in the ocean.   Recently Canada proposed a ban on single use plastics to come in to effect in 2021. The country joined the likes of France, Germany, Italy, the U.K. and the European Union who are all implementing similar policies. The United States, however – has not. Here are some facts from the Center for Biological Diversity. Americans use 100 billion plastic bags a year, which require 12 million barrels of oil to manufacture. The average American family takes home almost 1,500 plastic shopping bags a year. According to Waste Management, only 1 percent of plastic bags are returned for recycling. That means that the average family only recycles 15 bags a year; the rest ends up in landfills as litter. Up to 80 percent of ocean plastic pollution enters the ocean from land. 100,000 marine animals are killed by plastic bags annually. One in three leatherback sea turtles have been found with plastic in their stomachs. Plastic bags are used for an average of 12 minutes. It takes 500 (or more) years for a plastic bag to degrade in a landfill. Unfortunately, the bags don't break down completely but instead photo-degrade, becoming microplastics that absorb toxins and continue to pollute the environment There is no doubt plastic is a serious problem in America – but will the country join in? What will it take from an industry point of view? Will costs outweigh the benefit? Is this a matter of regulation and do Americans have the appetite to make this a political issue? There are a lot of questions and that’s where our experts can help. Dr. Beril Toktay is Professor of Operations Management, Brady Family Chairholder and ADVANCE Professor at Georgia Tech’s Scheller College of Business. She’s the founding Faculty Director of the Ray C. Anderson Center for Sustainable Business. She’s an expert in the areas of sustainable operations and supply chain management, with a special focus on the circular economy.  Beril is available to speak about this issue with media – simply click on her icon to arrange an interview.

Keratoconus – it’s a vision-depleting disease that almost sidelined an NBA star. Let our experts discuss the disease and how we’re trying to find a cure.

Keratoconus – ever heard of it? It’s an eye condition where genetics and environmental factors like ultraviolet light and vigorous eye rubbing conspire to make the usual curvature of the cornea more pointy, leaving us with double vision and nearsighted. National Basketball Association and Golden State Warriors star Stephen Curry helped make keratoconus, which affects an estimated 1 in 2,000, a more visible eye condition this April. A $2.1 million grant from the National Eye Institute is now helping Dr. Yutao Liu, vision scientist and human geneticist, learn more about keratoconus’ causes and identify points to better diagnose, treat and possibly prevent the progressive disease that typically starts in our teens. “We want to help patients better understand what is happening to their vision by better understanding how keratoconus happens, and give physicians better points to intervene,” says the scientist in the Department of Cellular Biology and Anatomy at the Medical College of Georgia and James and Jean Culver Vision Discovery Institute at Augusta University. For Curry, his solution was simple – treatment with corrective contact lenses. But keratoconus does progress and some who suffer may eventually require a corneal transplant surgery or corneal collagen cross-linking as treatment. Keratoconus is a fascinating disease and the research by experts at Augusta University will be groundbreaking. Do you need to know more? That’s where we can help. Dr. Yutao Liu is an associate professor of Cellular Biology and Anatomy with the Center for Biotechnology and Genomic Medicine at Augusta University. Dr. Liu and is available to speak with media regarding this rare disease - simply click on his icon to arrange an interview.

All the excitement and only a fraction of the money. Is FIFA off-side when it comes to pay parity between the sexes?

The world is watching and teams from all corners of the globe have descended on France for the 2019 Women’s World Cup. FIFA is making money hand over fist – but when it comes to funding and prizes between men and women – FIFA is coming up seriously short. In fact, men receive almost 10 times more money in prizes than women. Here’s a snapshot of the overall purse: $US400 million - what FIFA paid in prize money for the 2018 men's World Cup. $US30 million - what it's proposing to give teams at the 2019 Women's World Cup. It’s a stark difference – but why? Is this a matter of what the market can bare? Why do the women make only a fraction of their male counterparts? Is FIFA obligated to help develop women’s soccer? Or, does this system need to change and how does that happen? That’s where our experts can help. Professor Andrew Wonders joined the faculty of the School of Business Administration in 2013 following a 13-year career in the sport industry. His past experience includes working for Olympic organizing committees in Sydney and Salt Lake City and for the host broadcaster for the 2002 World Cup. Andrew is available to speak to this issue with media, simply click on his icon to arrange an interview today.