No Rate Hike Before Elections

At 2 pm today, the Federal Reserve will come out with their statement on economic projections and Chairwoman Janet Yellen will hold a press conference. Investors are keenly waiting for FED’s signal on the rate hike and borrowing costs for the near to long term. Janet Yellen will come out and speak for “hike”, but they will not raise the rates now because of the proximity to the election. Any rate hike now will only lead to pricking the stock market bubble, and that will look bad. Nobody wants to see a repeat of 2008 pre-election months. So that puts the hike off the table at least till 2017. Who knows if she will continue as the chairwoman after the election. But the reality is that the rates have to be higher. Prepare yourself.

The History of New York City Water

pepactonArun Ravindranath has published his work on the history of New York City Water supply and the Delaware River Basin Compacts in Water Policy Journal. His work is focused on understanding water risks and how the reservoir systems perform under changing climate and political and institutional constraints. He is developing a framework to assess the dynamics of natural and human systems to inform water allocations and policy. We welcome any comments. Here is a quick summary of the work.

The Delaware River is the longest continuous river in the Eastern United States. The river basin encompasses four states, New York, New Jersey, Pennsylvania and Delaware, covers roughly 13,000 square miles, and supplies more than 15 million people with water for drinking, agriculture and industrial use. The Delaware water release policies are constrained by the dictates of two U.S. Supreme Court Decrees, 1931 and 1954, and the need for unanimity among four states and New York City. Critical stakeholder groups include New York City, a variety of environmental interests, and key water organizations from the four states. The reliance of several entities on upstream water sources has led to competing interests, conflicts, and disputes over the years. Arun, through this investigation, has explored important changes in the allocation rules, key implementation issues surrounding drinking water supply and environmental impacts on the downstream ecosystem, wildlife, and fisheries, and provided context for social value changes.

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