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1. US inflation rose 3% in January
The U.S. Department of Labor reports the consumer-price index rose 3% year over year in January, higher than expected, according to the Wall Street Journal. On a month-over-month basis, inflation rose by 0.5%.
That inflation remains sticky is a point of consternation, particularly as other parts of the economy appear strong, namely solid gross domestic product growth and low unemployment, the newspaper reports.
Business executives and consumers expressed optimism following the election of President Trump, but the threat and use of tariffs, deportation raids and other executive orders have cut into that, according to the article. A preliminary index of consumer sentiment shared by the University of Michigan dropped this month to its lowest since July 2024.
2. Powell says Fed can take time lowering rates
In speaking to the Senate Banking Committee, Federal Reserve Chairman Jerome Powell said the Fed is not in any rush to further lower interest rates, the Wall Street Journal reports. The Fed lowered rates three times at the end of 2024 but held rates steady in January.
“We’re in a pretty good place with this economy. We want to make more progress on inflation. And we think our policy rate is in a good place, and we don’t see any reason to be in a hurry to reduce it further,” he said in his testimony.
3. Hoteliers must tell hospitality career story better, execs say
The hotel industry can open up so many career opportunities for people, but no one will apply if they don't know about it, hotel executives said at a recent meeting of the Lodging Industry Investment Council, HNN reports. There's a story to tell, and hoteliers need to do a better job telling it.
“It’s an incredible industry of opportunity,” said Doug Dreher, president and CEO of The Hotel Group. “I think coming through the pandemic, the industry reputation took a hit, and yet, at the same time, not many think you could become a dishwasher and then become a CEO. That’s a real story that doesn’t exist in other industries.”
4. Heathrow to expand two terminals
Heathrow Airport has a multi-billion pound investment plan for expanding two of its terminals as it plans to add a third runway, the BBC reports. The airport chief executive said the goal is to have planes taking off from the new runway before the end of the next parliament, which could be within 10 years.
"This privately funded program will upgrade existing infrastructure while laying the groundwork for a third runway, boosting U.K. investment and economic growth, with tangible benefits felt this year," Heathrow CEO Thomas Woldbye said.
The expansion plans face opposition from environmental groups, politicians and local authorities and residents, the BBC reports. There are concerns an additional runway would make it more difficult for the country to meet its climate change commitments.
5. Heart-shaped tubs from Poconos hotel find new homes
The iconic heart-shaped tubs from the Pocono Palace Resort in the Pocono Mountains are finding new homes after the hotel's closing, the New York Times reports. The tubs were removed from guestroom bathrooms and put up for sale.
Margaret Bienert and her husband Corey stayed in the resort's Roman Tower suite in 2018, which along with the heart-shaped tub had a seven-foot-tall champagne glass-shaped whirlpool in the living room. They plan to install their new tub in the bedroom of their Michigan home to rent out to vacationers — but first, some maintenance.
“I’m sure it will need a heavy cleaning,” said Margaret Bienert, co-author of "Hotel Kitsch: A Pretty Cool Tour of America's Fantasy Getaways." “I would replace the motor and probably either the jets or do a thorough clean out.”