Missouri banking big bucks as Fed attempts to fight inflation

Thursday, December 29, 2022 at 12:00 AM

JEFFERSON CITY, Mo. (AP) — State governments emerging from the coronavirus pandemic built historic cash surpluses as inflation in prices and wages drove up sales and income tax collections.

Many states are reaping another reward: banking millions of dollars off those surpluses as the Federal Reserve fights inflation with higher interest rates.

“We’re catching both ends of it,” said Missouri Treasurer Scott Fitzpatrick, a Republican. First, “we received a lot of extra money,” he said. “Now, nominally, we’re benefiting from the increase in interest rates from the Fed.”

The entire article can be read at ozarksfirst.com.

WAYS TO LISTEN

More from Local News

Branson High School Senior Earns QuestBridge Match Scholarship

BRANSON, MO (December 4, 2025) – Branson High School is proud to announce that senior Hanah Barnes has been selected as a 2025 QuestBridge National College Match Scholarship recipient, one of the nation’s most competitive full-ride scholarship programs. Through this remarkable achievement, Hanah has matched with Yale University, where she will enroll in Fall 2026.
What’s really on your plate? Missouri tries to halt lab-grown meat

MISSOURI — Do you really know what is in your food? That question is at the center of a growing debate in Missouri, where state lawmakers are moving to block future sales of lab-grown meat before it ever hits store shelves.
Missouri lawmakers to consider regulating AI

JEFFERSON CITY, Mo. – Missouri lawmakers will consider several bills next year that aim to regulate artificial intelligence at the state level.
Dry Weather This Week, Colder by the Weekend

The weather through the Lakes Region this week will remain dry ahead of a major cool down that will come in late in the week.

Missouri banking big bucks as Fed attempts to fight inflation

Share

WAYS TO LISTEN

More from Local News

Ways To Listen