- SummerSouth Insider
- Posts
- 💲 Fed Cuts Interest Rates to 4.8%, Aims to Boost Job Market and Economic Growth
💲 Fed Cuts Interest Rates to 4.8%, Aims to Boost Job Market and Economic Growth
Issue #287 - September 19, 2024
John Wu
19 Sep
Dear SummerSouth Insiders!
🚀Exciting News Ahead & We Need Your Support!🌟
Hello, amazing subscribers! We're gearing up for some thrilling developments and can't wait to share them with you! But here's the thing – we need a little boost from our most valued members: You! 🙌
Here's How You Can Make a Huge Impact:
💌Spread the Word: If you love our daily newsletter, why not share it? Whether it's family, friends, neighbors, or the friendly faces running local businesses – if you think they'll enjoy our content as much as you do, let them know! Your recommendation means the world to us and helps our community grow.
👍 Join Us on Facebook: Ready for more engaging content? Simply visit our Facebook page at SummerSouth Insider and hit that 'Like'
and ‘Follow’ button! It's a click away but makes a massive difference. Plus, you'll be in the loop for exclusive updates and conversations!
Your support is the backbone of our journey. Together, let's build a community where everyone benefits from insightful, daily content. Thank you for being a part of our exciting path forward! 🌈💪
Funeral Advantage Plan
There’s a new low cost final expense insurance plan available for seniors between 50-85. This plan can cover all of your final expenses:
✅burial
✅cremation
✅flowers
✅viewing
✅caskets
✅urns, and so much more.
To learn more, watch here.
Download the Free CheatSheet to learn more.
📆 Weekly Local Events for September 2024
Regular weekly events in or near Summerlin, Las Vegas are listed below.
Visit here to lookup specific venue information or for upcoming and/or non-weekly events on Meetup.
Monday
Monday Classes At Latin Blendz: (Every week on Monday @ 10AM)
Socially Vegas - Monday Night Bowling @ The Orleans Bowling Center: Must arrive/check-in before 7pm; 7 - 10pm (Every week on Monday); COST (CASH Only) $10 for 2 games (includes shoes) COST: $12 for 3 games (includes shoes)
Monday Night TRIVIA at ReBAR, 1225 S Main St, Las Vegas: (Every week on Monday @ 7PM)
Tuesday
Sand Volleyball Intermediate, Rusty and Old Time Players @ Aloha Shores Park (NW), Cheyenne & Buffalo, 7550 Sauer St, Las Vegas: (Every week on Tuesday @ 6 - 8 PM)
Run Drink Las Vegas - Weekly Tuesday Run @ Frankie’s Uptown patio: 7PM (Every week on Tuesday), FOLLOW US ON INSTAGRAM @rundrinklv FOR THE LATEST WEATHER/TIMING UPDATES
Wednesday
Business Leads Group - Networking Breakfast @ Summit Restaurant, Eagle Crest Golf Course, 2215 Thomas W Ryan Blvd, Las Vegas: Cost $20 cash, 7 - 8:30 AM (Every week on Wednesday)
Early Risers Toastmasters Meeting (In-Person - Summerlin Egg Works / Online Event: 7 - 8 AM (Every week on Wednesday)
Las Vegas Valley Bicycle Club - Wednesday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Wednesday)
Speakers & Leaders of Summerlin Toastmasters Meeting, Summerlin Egg Works, 2025 Village Center Cir, Las Vegas: 12 - 1:30 PM (Every week on Wednesday)
Thursday
Abundance Business Networking Group Online Event: 7 - 8:30 AM (Every week on Thursday). Please arrive 10-15 minutes early for networking. Steps to access our BNI Online™ Virtual Chapter Meeting, visit website.
Las Vegas Real Estate Investors Association - Weekly Power Lunch For Real Estate Investors: 11 AM - 1 PM (Every week on Thursday). Request to join here.
Free Salsa Classes @ Feel The Music Dance Studio: 7 - 8 PM (Every week on Thursday). Visit the website to register online.
Summerlin Bitcoin Happy Hour, SG Bar, 9580 W Flamingo Rd, Las Vegas: 6:30 PM (Every week on Thursday)
Coed Soccer - Summerlin: Crossings Park, 1111 Crestdale Ln, Las Vegas: 7:30 - 9:45 PM (Every week on Tuesday/Thursday)
Friday
Find Your Yoga Las Vegas - Flow & Yin W / Noé Hilyard @ Yoga Sanctuary: 6 - 7:15 PM (Every week on Friday) View Yoga Sanctuary's full schedule.
Swing Dancing in Las Vegas Vintage and Modern Swing Dances @ The Mint Tavern: 7:30 - 8:30 PM (Every week on Friday)
Saturday
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Find Your Yoga Las Vegas - Saturday Morning Meditation with Practitioner Selina Kelly @ Yoga Kandy, LLC. Cost: Love Donation $5-$10 suggested. 11 - 11:45 AM (Every week on Saturday)
Sunday
Las Vegas Valley Bicycle Club - Sunday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Sunday)
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Level 1 West Coast Swing @ 2580 N Rancho Dr, North Las Vegas: 7 - 8 PM (Every week on Tuesday); Drop in Rate is $15, Monthly pass is $50; Register online.
⛽ Las Vegas Gas Prices
💲 Fed Cuts Interest Rates to 4.8%, Aims to Boost Job Market and Economic Growth
In a significant policy shift, the Federal Reserve on Wednesday lowered its benchmark interest rate by a notable half-point, marking the first rate cut in over four years. This dramatic move comes after a prolonged period of high interest rates, which helped tame soaring inflation but made borrowing costly for American consumers. The Fed's decision signals a pivot toward supporting the job market, which has shown clear signs of slowing in recent months.
The Fed’s action lowers its key interest rate to approximately 4.8%, down from a two-decade high of 5.3%, where it had remained for the past 14 months as part of the central bank’s efforts to combat the worst inflation streak in 40 years. Over this period, inflation, which peaked at 9.1% in mid-2022, has cooled considerably, reaching a three-year low of 2.5% in August, just above the Fed’s 2% target.
Rate Cut and Economic Outlook
The rate cut reflects a shift in the Fed’s focus from controlling inflation to addressing concerns about a weakening job market. With the labor market showing signs of slowing, the central bank appears to be prioritizing measures to support employment and economic growth. This rate cut also comes just weeks before the presidential election, introducing new dynamics into the economic landscape as voters prepare to cast their ballots.
The Fed’s policymakers signaled that further rate cuts could be on the horizon. They expect to reduce rates by an additional half-point in their final two meetings of the year, scheduled for November and December. Furthermore, the Fed envisions implementing four more rate cuts in 2025 and two in 2026, as part of a longer-term strategy to sustain economic growth.
In its statement, the Fed came closer than ever to declaring victory over inflation, stating that it “has gained greater confidence that inflation is moving sustainably toward 2%.” This marks a significant achievement for the central bank, which has been battling high inflation since the COVID-19 pandemic disrupted global supply chains and drove up prices for goods and services.
Impact on Consumers and Businesses
While the Fed’s rate cuts are expected to reduce borrowing costs over time, many Americans continue to feel the pressure of high prices for essentials like groceries, gas, and rent. Former President Donald Trump has blamed the Biden-Harris administration for fueling inflation, while Vice President Kamala Harris has argued that Trump’s proposal to impose tariffs on all imports would only push prices higher.
For consumers, the Fed’s rate cuts are likely to lead to lower borrowing costs for mortgages, auto loans, and credit cards. This, in turn, should provide financial relief, as lower interest rates could reduce monthly payments on loans and credit card balances. Homeowners may benefit from refinancing their mortgages at lower rates, while consumers might shift their high-interest credit card debt to lower-cost personal loans or home equity lines of credit. Additionally, businesses may find it easier to borrow and invest, boosting economic activity.
Already, average mortgage rates have fallen to an 18-month low of 6.2%, according to Freddie Mac, sparking a surge in demand for refinancing. As borrowing costs drop further, the Fed's rate cuts are expected to stimulate more spending and economic growth in the months to come.
What’s Next?
As the Fed continues to adjust its monetary policy, it will be closely monitoring the economy's response to these rate cuts, especially in terms of employment and consumer spending. While inflation appears to be under control for now, the central bank remains cautious about potential economic risks, including the possibility of inflation rebounding or the job market weakening further. For now, the Fed’s focus is on creating a more favorable borrowing environment to support growth and help Americans manage their financial burdens.
🏀 Las Vegas Aces Face Unconventional Path to Third Straight WNBA Championship
The Las Vegas Aces are facing an unconventional road to their third consecutive WNBA championship. Unlike the past two seasons, their path will not go through Las Vegas, making their quest for another title even more challenging. However, the Aces will still have home-court advantage in their first-round playoff series, with their opponent to be determined before the conclusion of the regular season.
As the Aces (26-13) prepare for their final regular-season game against the Dallas Wings on Thursday at Michelob Ultra Arena, they remain in contention for the No. 3 seed. The Connecticut Sun (27-12) currently hold that spot, but the Aces are just one game behind after defeating the Seattle Storm 85-72 on Tuesday. That victory secured the Aces the No. 4 seed at worst, guaranteeing home-court advantage in the first round.
The Aces' chances of moving up to the No. 3 seed stayed alive when the Connecticut Sun lost 78-76 to the Minnesota Lynx on Tuesday. With Minnesota’s win, they clinched the No. 2 seed, making Thursday’s results critical for the final playoff picture.
Key Scenarios for the Aces
Connecticut will host the Chicago Sky on Thursday afternoon. The Sky (13-26) are still in the hunt for the eighth and final playoff spot but must win and hope both the Atlanta Dream and Washington Mystics lose. Meanwhile, the Aces will face the Dallas Wings later that night, knowing their playoff seeding will be determined by the Sun’s result.
If Connecticut defeats Chicago, the Aces will secure the No. 4 seed and face the Seattle Storm in the first round of the playoffs, which begins on Sunday. However, if the Sun lose and the Aces win, Las Vegas will climb to the No. 3 seed, setting up a first-round matchup against the Indiana Fever, featuring expected rookie of the year Caitlin Clark.
Preparing for Playoffs
The Aces appear to be anticipating a Connecticut victory, as key players—A’ja Wilson, Chelsea Gray, Kelsey Plum, and Jackie Young—were all listed as doubtful for Thursday's game, with “rest” cited as the reason. These four stars, often referred to as the "Core Four," have been crucial to the Aces' dominance over the past two seasons.
After dominating the WNBA with the best record in 2022 and 2023, including a league-record 34 wins last season, the Aces are accustomed to being the team to beat. However, this season presents a tougher challenge as they will likely not have home-court advantage in the semifinals or finals if they advance.
Potential Playoff Matchups
If the Aces finish with the No. 4 seed, they are likely to face the No. 1-seeded New York Liberty in the semifinals, setting up a rematch of last year’s WNBA Finals. The Aces defeated the Liberty in four games last October, becoming the first team since the Los Angeles Sparks in 2001-02 to win back-to-back championships. However, no team has won three straight titles since the Houston Comets claimed the league’s first four championships from 1997 to 2000.
A No. 3 seed for the Aces would likely mean a semifinal clash with the Minnesota Lynx. Minnesota has had a remarkable season, winning a franchise-record 30 games—an 11-win improvement from the previous season. The Lynx are also looking to make their first finals appearance since their fourth championship in 2017.
Minnesota has been a formidable opponent for the Aces this season, winning three of their four regular-season matchups, all by double digits. Despite these challenges, Aces forward A’ja Wilson remains confident in her team’s ability to compete.
“I’m not worried about (other teams),” Wilson said. “As long as we’re in control of our own destiny, and we’re always going to be that, because I’m going to make sure of that. The rest is just going out there and playing the game we love.”
Looking Ahead
Aces coach Becky Hammon acknowledges that the road to a third consecutive title will be difficult but believes her team is starting to find its rhythm at the right time. “We know we have an uphill battle,” Hammon said. “We also know our best basketball is still in front of us, and we also know that we’re starting to click.”
As the Aces prepare for the playoffs, the team's experience and confidence could help them overcome the challenge of not having home-court advantage. Whether they face the Liberty or the Lynx, their journey to another WNBA championship promises to be an intense and thrilling ride.
🎰 The Ultimate Guide to Progressive Jackpots: Five Things to Know Before You Play
Hitting a massive jackpot at a Las Vegas casino is a dream shared by both novice players and seasoned gamblers. Progressive jackpots, in particular, stand out as one of the most alluring ways to win big. These jackpots can accumulate to life-changing sums, turning a lucky spin into a multi-million-dollar payday. Before your next visit to a casino, here are five important things you should know about progressive jackpots, based on Nevada gaming regulations.
1. How Progressive Jackpots Work
Progressive jackpots are unique because they accumulate over time. A portion of every wager made on a progressive game is added to the prize pool, which continues to grow until someone hits the jackpot. The longer it remains unclaimed, the larger the potential payout becomes.
These jackpots can vary significantly in size, ranging from smaller four-figure amounts to enormous multi-million-dollar prizes, depending on the game and the level of participation. The allure of a potentially massive payout is what makes progressive jackpots so popular among casino-goers.
2. Types of Casino Games with Progressive Jackpots
When most people think of progressive jackpots, they immediately picture slot machines. Some of the most well-known progressive slots in Las Vegas include popular titles like "Megabucks," "Money Mania," and "88 Fortunes." These games have made headlines for their huge payouts and continue to attract players from around the world.
However, slot machines aren't the only games that offer progressive jackpots. Increasingly, casino table games like blackjack, roulette, and poker are incorporating progressives into their gameplay. In these cases, progressive jackpots are typically tied to side bets, offering players a chance to win a substantial prize alongside the main game. For instance, in blackjack, a progressive may be triggered by hitting a specific hand, such as a series of aces.
Outside of casinos, progressive jackpots are also found in lotteries. Popular games like Mega Millions and Powerball feature progressive prize pools, which continue to rise until a winner is declared.
3. Ways to Win a Progressive Jackpot on Slots
The method of winning a progressive jackpot varies depending on the game. Here are some common ways players can hit the jackpot on a slot machine:
Max Betting: On many progressive slots, placing the maximum bet is required to be eligible for the jackpot. If you're playing for a life-changing payout, be sure to check if max betting is necessary.
Winning Symbol Combinations: In some games, specific symbols—often jackpot symbols—must align on the pay lines to trigger the progressive jackpot.
Bonus Rounds: Some progressive slots require players to enter a bonus round, where the jackpot can be won. These bonus rounds may feature wheel spins or other mechanics that can trigger the big win.
Random Jackpots: Certain games offer completely random progressive wins. In these games, the jackpot can be awarded at any time, regardless of bet size or other factors.
4. Odds of Winning a Progressive Jackpot
The odds of winning a progressive jackpot are determined by a random number generator (RNG), ensuring that each spin or bet is fair and unpredictable. While the outcome is largely random, a few factors can influence your chances:
Bet Size: On some machines, higher bets can increase the likelihood of hitting a jackpot. Max betting is often recommended for those aiming to win a progressive.
Return-to-Player (RTP) Percentage: Each game has an RTP percentage, which indicates how much of the total wagers are paid back to players over time. Games with lower RTPs tend to offer larger jackpots, while higher RTP games may provide more frequent but smaller payouts.
Ultimately, winning a progressive jackpot is a rare and fortunate event, but understanding the mechanics and odds can help players make informed choices.
5. Types of Progressive Jackpots
Not all progressive jackpots are created equal. There are three main types of progressive jackpots, each offering different levels of competition and prize amounts:
Standalone: These jackpots are tied to a single machine or game and tend to be smaller because there’s less competition for the prize.
Local: Shared across multiple machines within the same casino or online platform, local progressives offer larger jackpots than standalones.
Network (or Wide Area): Network jackpots are linked across multiple casinos or platforms, creating the potential for massive payouts. The Wheel of Fortune and Megabucks slot series are examples of network progressives that offer life-changing jackpots.
Bonus: The Origin of Progressive Jackpots
No story about jackpots would be complete without mentioning their origin. The first progressive jackpot was introduced by International Game Technology (IGT), a leading manufacturer of casino games, in 1986. That year, the legendary "Megabucks" slot machine made its debut, and just a year later, in February 1987, a player hit the very first progressive jackpot, walking away with a prize of $4,988,842.17.
❎ Trump-Vance Rally in Las Vegas to Feature RFK Jr., Tulsi Gabbard, and Danica Patrick
Robert F. Kennedy Jr. and Tulsi Gabbard are scheduled to visit the Las Vegas Valley this weekend to participate in a campaign event supporting former President Donald Trump and Ohio Senator J.D. Vance. The event is part of the broader effort to rally support ahead of the upcoming 2024 presidential election and key Senate races.
The campaign announced on Thursday that Kennedy, a well-known environmental lawyer and political activist, and Gabbard, a former Democratic congresswoman from Hawaii, will engage in a moderated discussion with NASCAR Cup Series Winner Danica Patrick. The event is set for Saturday, Sept. 21, at the Price Recreation Center in Las Vegas, and doors will open at 4 p.m.
Event Details and Format
The moderated discussion, featuring Kennedy, Gabbard, and Patrick, is expected to cover a range of topics relevant to the upcoming election, political dynamics, and policy issues affecting voters. Both Kennedy and Gabbard have gained attention for their willingness to break from the traditional party lines, making their participation in this Trump-Vance event particularly notable. Kennedy has been a prominent voice on environmental and health issues, while Gabbard has long championed anti-war stances and criticized partisan politics in Washington.
Danica Patrick, one of the most successful women in the history of American open-wheel racing, will moderate the discussion, likely bringing a unique perspective to the conversation as an athlete and public figure. Her involvement in the event may attract additional attention from sports fans and those interested in her transition from the racing world to a more public political sphere.
Context and Significance
The event comes at a time when the 2024 presidential race is heating up, and Trump is working to solidify his base of support while courting a broader electorate. Having figures like Kennedy and Gabbard participate in a campaign event for Trump and Vance suggests a strategic move to appeal to independent and crossover voters who are dissatisfied with mainstream party politics.
Kennedy, currently running as an independent candidate for president, has drawn attention for his populist views and challenges to the political establishment. Gabbard, who left the Democratic Party in 2022, has been increasingly vocal in supporting non-traditional candidates, aligning herself with those who seek to challenge the status quo in both parties.
The inclusion of both Kennedy and Gabbard, known for their divergent political views and past critiques of their respective parties, highlights the event's aim to attract a politically diverse crowd. Their appearances at the Las Vegas rally are likely to stir interest among independent voters, moderates, and those looking for alternatives to the traditional Republican and Democratic platforms.
Registration and Attendance
The event is free to the public, but registration is required for those who wish to attend. Interested individuals can register for the event online through the campaign's official channels or at the venue, space permitting. With high-profile figures like Kennedy, Gabbard, and Patrick participating, a strong turnout is expected.
The Price Recreation Center, where the event will be held, is known for hosting political and community events in the Las Vegas Valley. Given the prominence of the speakers and the growing attention surrounding the 2024 election, local residents and political enthusiasts are likely to fill the venue.
Looking Ahead
This event in Las Vegas underscores the growing role Nevada plays in national elections as a key battleground state. Trump and his allies, including Senator J.D. Vance, are ramping up efforts to secure support in swing states like Nevada, where independent and moderate voters could play a critical role in deciding the outcome of the 2024 election.
For Kennedy and Gabbard, their participation in the event highlights their continued influence and the potential to sway voters who may be looking for alternatives outside the traditional two-party system. As the 2024 election season intensifies, this event could be an early indicator of the alliances and strategies that will shape the political landscape leading up to November.
Summerlin South, NV Demographics
What is the population of Summerlin South?
What are the employment statistics in Summerlin South?
How many households are there in Summerlin South?
What are the median and average incomes in Summerlin South?
How many homeowners and renters are there in Summerlin South?
What is the level of education in Summerlin South?
What is the marital status of Summerlin South residents?
What are the most common means of transportation in Summerlin South?
Methodology & Disclaimers
Demographic data shown in this section was gathered from the latest U.S. Census Bureau release, the 2022 American Community Survey. The information is updated yearly, as soon as new data is made available by the US Census Bureau.
No representation, guarantee or warranty is made as to the accuracy or completeness of information modified or aggregated for specific neighborhoods and/or zip codes.
Zip codes included in this demographic data: 89135
Summerlin Area Command - Week Ending: September 6, 2024
Courtesy of The Las Vegas Metropolitan Police Department.
📌 🏠 Summerlin South - August 2024
*Median Sold Price By Bedroom Count
This is the middle price for which all homes in the area were sold based on the number of bedrooms. Half of all the homes sold were below this price, and half were above.
Visit here to see the entire report.
📌 ✅ We Want To Spotlight Your Business!
Would you like us to spotlight your local business in front of thousands of Summerlin South area residents in an upcoming issue of SummerSouth Insider?
We ❤️ Local Businesses!
We know our community is brimming with businesses that have fascinating stories and big hearts. If you're a local business owner making waves, crafting unique experiences, or simply putting a smile on our faces, we want to chat with you! "SummerSouth Insider" is eager to shine a light on the unsung heroes of our town. Let's collaborate and let the community know what makes your business special. Send us a message, and let's celebrate the spirit of Summerlin South together!
👇Select an option below:
✅Own a local Business? Apply to be featured.
📌 ✅ We Want Your Feedback!
We read your emails, comments, and poll replies daily.
Hit reply and tell us what you want more of!
Until next time, John Wu.