Economy Watch: Fed Expects 6 Rate Hikes, with Rate Peaking at 2.8%

Posted on March 16, 2022 by Joel Whitaker

Once the Fed’s rate reaches 2.8%, it’s expected to stay there until 2023 before retreating a bit to 2.4%.

Wednesday’s quarter-point increase was less than St. Louis Fed Chair James Bullard had pushed — he had wanted a half-point increase — but “uncertainty” caused by Russia’s invasion of Ukraine delayed that.  But ING Economics says you should look for a 50bp increase in May, especially if Russia-Ukraine talks reach a positive conclusion.

“Calls for more aggressive, swifter policy tightening would certainly build if inflation remains up around 8%, there is more evidence of a de-anchoring of inflation expectations and the unemployment rate remains below 4%,” ING says.

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Who & What —

Posted on March 16, 2022 by Joel Whitaker

Origins Organic hires Susan-Anne Cosgrove as vp-global marketing, a new position.  She joins from Taub Family Selections, where she led marketing and communications for five years.

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Molson Coors Suspends Exports to Russia

Posted on March 15, 2022 by Joel Whitaker

Molson Coors Beverage Co. suspended its exports to Russia, including the license to produce any of its brands in the country.

CEO Gavin Hattersley said the company’s sales in Russia were “limited” and added it hadn’t any assets in the country.

“Like so many of us around the world, I have watched with a heavy heart as the tragic events in Ukraine continue to threaten the lives of millions of innocent people,” Hattersley said. “The stories and images we have seen are unspeakable, and all of us at Molson Coors continue to stand together in support of Ukrainians and everyone affected by the humanitarian crisis this war has created.”

The company said it will continue donating to humanitarian efforts in Eastern Europe

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ABI Seeks to Halt Production of Budweiser in Russia

Posted on March 15, 2022 by Joel Whitaker

Anheuser-Busch InBev asked the controlling shareholder in its Ukraine and Russia venture, Efes, to suspend the license to make and sell Budweiser in that country, a response to Russia’s war on Ukraine.

Michel Doukeris, CEO of A-B InBev, said the brewer does “not have a controlling stake at the joint venture and do not consolidate it in our accounts.”

Efes was created by a merger between ABI and Anadolu Efes, a Turkish brewer.  It claims 7,000 employees.

In a filing with the Securities & Exchange Commission, ABI said it was “providing critical assistance to our 1,800 employees in Ukraine and their families, including housing and financial support.

In addition to donating to the Red Cross, ABI said it is working in partnership with them, other CPGs and local NGOs to provide food, blankets, medical supplies and 2 million cans of emergency drinking water to Ukraine and surrounding refugee relief areas.

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Coors Brewing Tour Resumes in Colorado

Posted on March 15, 2022 by Joel Whitaker

Tours at the Coors Brewery in Golden, Colo., were suspended two years ago because of the Covid-19 pandemic.  Now the 90-minute tours have resumed on Fridays, Saturdays and Sundays, starting at 10 a.m.

The brewery has upgraded the tour format to enrich the experience for visitors. According to the company, this includes “a new lounge, personal tour guides, free samples throughout the tour, including a final product sample at the end, and complimentary branded aluminum cups for guests.” Guests who intend on drinking the samples must have their ID with them.

Reservations, which are required, can be made online.

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Cinderlands Beer, Bakery Join to Benefit Food Rescue

Posted on March 15, 2022 by Joel Whitaker

DiAnoia’s Eatery has provided Cinderlands Beer Co. with extra bread and loaves that the restaurant has on hand to create Con Pane beer, as there are industrial quantities of bread being wasted worldwide. The name of the beer fixates on the word companion as it derives from the Latin words com (with) and panis (bread) – or in Italian, Con Pane.

Proceeds will benefit 412 Food Rescue.

Con Pane is now available at the Cinderlands Warehouse and can be found on draft and in cans to-go at all Cinderlands locations and DiAnoia’s Eatery. While partnering with 412 Food Rescue, purchases of Con Pane will be reinvesting the profits into charity to benefit the non-profit organization whose mission is to bring food to those experiencing good insecurity.

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