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News to Know for June 15: Interest rate hike likely; Hanover Schools calendar change; Heat continues

Inflation is at a 40-year high, stock prices are falling, and the Federal Reserve is raising...
Inflation is at a 40-year high, stock prices are falling, and the Federal Reserve is raising interest rates.
Published: Jun. 15, 2022 at 7:27 AM EDT
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RICHMOND, Va. (WWBT) - Here’s a look at your mid-week headlines!

Heat Continues

Temperatures in the 90s continue for a few more days before we see a break this weekend. There’s also a slight chance of storms, especially to the west, on Wednesday.

Interest Rate Hike Expected

The Federal Reserve is expected Wednesday to announce its largest interest rate hike since 1994 — a bigger increase than it had previously signaled and a sign that the central bank is struggling to restrain stubbornly high inflation.

NBC12′s financial expert Carl Carlson believes part of the dip cause is record-high inflation, reaching a 40-year-high last month at 8.6 percent.

“We’re seeing a lot of volatility in the stock market right now, and that just means it’s going up and down a lot, and it’s reacting mostly to inflation numbers,” Carlson said.

School Start Date Changing in Hanover

The Hanover County School Board approved a pre-Labor Day start for schools starting with the 2023-24 school year. That school year will start on Aug. 21 and end on May 31.

The School Board also approved a change in the student code of conduct regarding walkouts. The board removed language specifically prohibiting protests, but say students who leave class or create disturbances will be subject to the code of student conduct.

Chesterfield Board Accepting Applications

The Chesterfield County Board of Supervisors is accepting applications to fill the Midlothian District Seat on an interim basis.

Interested applicants must apply online by June 23 at 5 p.m.

Juneteenth Events in Central Virginia

There are numerous family-friendly events happening for Juneteenth this weekend! Click/tap here for a list of events in Central Virginia.

ABC Sells Former Warehouse to VCU

Virginia ABC recently sold its former central office and warehouse facilities to VCU.

Virginia ABC recently sold its former central office and warehouse facilities to Virginia Commonwealth University.

The 20-acre site near The Diamond sold for $16 million. The deal closed on Friday, June 10, according to Virginia ABC.

Now, on top of other properties already purchased, VCU has over 40 acres at its disposal to build new facilities and fields.

Final Thought

“It was June, and the world smelled of roses. The sunshine was like powdered gold over the grassy hillside.” – Maud Hart Lovelace

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