| March 21, 2022 
 The Federal Reserve moved forward with its promise to raise interest rates in an effort to curb inflation. During a meeting the board raised interest rates by 0.25% and announced six more increases are planned this year. The expectation is rates will reach 1.9% by year’s end. The Fed is planning another three hikes in 2023. This has been the first increase since 2018 and the first step in the Fed’s promised “soft landing” of a post-pandemic recovery. Given that the Fed has been leaning toward raising the interest rates for some time, the anticipation of higher rates has already been calculated into loans. This rate increase will feel more shocking to younger generations like Millennials. Here’s three areas where interest rate increases will be most noticeable this year: Home mortgages, consumer loans and savings accounts. READ MORE  The final meeting between Tom Izzo and Mike Krzyzewski went the way so many of their previous matchups have gone: Michigan State fought hard, stayed close through most of the game but was ultimately unable to finish down the stretch. Michigan State battled back in the second half but faded in the final three minutes in a 85-76 loss to Duke on Sunday night at Bon Secours Wellness Arena. Michigan State 24-12, Duke (30-6) now advances to play either Texas Tech or Notre Dame on Thursday in San Francisco, while Michigan State ends its season at 23-13. READ MORE ►Michigan basketball will face Villanova in Sweet 16  Another Sunshine Week has passed in Michigan without any meaningful reform to the state’s weak transparency laws. Sunshine Week has become nationally celebrated among news organizations advocating for openness and transparency in government. In Michigan, the week annually prompts lawmakers to answer why they haven’t passed measures to subject themselves and the governor to the same public records laws required from state legislatures and governor’s offices across the country. Besides general calls for action from lawmakers on current legislation waiting for movement from party leadership, reform efforts didn’t go anywhere last week. READ MORE ►Michigan climate plan set to reach governor’s desk by Earth Day ►Gov. Whitmer supports temporarily suspending Michigan’s 6% sales tax on gas  For the first time since the U.S. Centers for Disease Control and Prevention relaxed its recommendations, there are no counties in Michigan where people should universally mask while indoors and in public. All of Michigan’s 83 counties are either low level green or medium level yellow based on new COVID-19 cases and hospitalization data in the last seven days. Only those living in high level orange counties are asked to mask. At all levels, people can wear masks based on personal preference, informed by personal level of risk, according to the CDC. ►Should Michiganders worry about China’s latest COVID-19 surge?  The new three-month forecast is out. Michiganders may have to deal with some mud, especially in the early part of the forecast period. The Climate Prediction Center (CPC) is the branch of NOAA responsible for the one-month and three-month forecasts. They cite a few items used to produce the forecast for the next three months.The CPC thinks there will be an active, moisture-laden storm track in April. CPC says they expect dryness to overtake the wet pattern as we get into June. However, the three month period may still average wetter than normal. READ MORE ►So you think the sky looks like spring? Here’s why MLive All Digital Access
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