We’ve been hearing from companies being squeezed by higher prices and of course that’s impacting many people in New Jersey, who are paying more for everything from food to gasoline. This week we will learn the latest trends on inflation, including whether economists think any relief is in sight this year. Federal Reserve chair Jerome Powell will testify at a nomination hearing before a Senate panel Tuesday, when his handling of inflation is likely to be addressed. Worries about inflation also unnerved Wall Street Monday.
One of the latest efforts to promote innovation in the state is happening at Kean University, where a new center of Workforce Development, Innovation and Social Entrepreneurship was recently launched. Among other things, there will be a focus on learning how to make small businesses more resilient in challenging times. Kean was one of just 25 colleges and universities nationwide selected for a more than $1 million, five-year competitive grant to create the center, which will include a focus on workplace training.
Struggling restaurants in north Jersey have an opportunity to apply for help. Restaurants that use Uber Eats for delivery services are eligible to apply for grants under a program sponsored by Uber and VISA. The companies are giving out $1 million under their Grants for Growth program, which is geared toward small businesses in ten cities. North Jersey is considered part of the New York metro area for these awards. Applications will be available a week from Monday.
The NFL football season is winding down for the Giants and Jets with a lawsuit. According to media reports, a New York resident has filed a $6 billion suit against both teams, saying if they call themselves New York teams, they should move back to and play in New York.
