Government

The Federal Reserve will push rates higher than previously expected and keep them there for an extended period, Chair Jerome Powell said Nov. 30 in remarks likely intended to underscore the Fed’s focus on combating inflation.

More than a year after a $1 trillion infrastructure law was enacted, the Republican leader on the U.S. Senate highway policy panel revisited her concerns related to funding guidance from the U.S. Department of Transportation.

To avert a railroad strike projected to cost the economy $2 billion daily, the U.S. House of Representatives on Nov. 30 passed a bill outlining a labor agreement between rail carriers and workers.

U.S. railroads have begun curtailing shipments of hazardous chemicals ahead of a potential nationwide strike by workers, according to a major trade group representing oil refiners and petrochemical companies.

Senators pressed the CEOs of Kroger Co. and Albertsons Cos. on Nov. 29 about whether their proposed $24.6 billion deal to create a supermarket giant will benefit consumers in an era of rising inflation.

The trucking industry continued to experience strong acquisition activity this year, but there may be some signs of softening heading into next year.

Volvo Trucks North America announced it will deploy eight Volvo VNR Electric trucks with two Bronx-based community groups as part of a $10 million award through the New York Clean Transportation Prizes program.

Penske Truck Leasing announced it took delivery of two battery-electric production model Freightliner eCascadia semi-trucks from Daimler Trucks North America.

The highway policy committee in the Senate on Nov. 29 easily approved the nomination of Shailen Bhatt to manage the Federal Highway Administration.

A proposal by federal regulators to require unique electronic identifiers on large trucks wasn’t well received by many of the nation’s motor carriers and independent truckers.