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Retail prices hit 40-year high Gasoline, food, and rent accelerated the consumer price index to the highest level since 1981. Pent-up spending was stimulated by low interest rates, supply chain bottlenecks, government spending, and declining COVID fears. Economists, including some on the Federal Reserve, have been quick to note that many factors have already moderated or even reversed, making the 9.1% inflation increase a rapidly moving target. The high rate of inflation will add pressure on the Fed to raise interest rates by a full one percent at their meeting later this month. Gold ...

Tioga banker recognized by BankBeat

Savanna Hendrickson, President of the Bank of Tioga, has been named a 2022 Rising Star in Banking by BankBeat magazine. According to information provided by the magazine, the program is designed to recognize up-and-coming leaders in the community banking space who are younger than 45. Hendrickson is one of eight bankers from Illinois, Indiana, Iowa, Montana, Michigan, Minnesota, Nebraska, North Dakota, South Dakota, Wisconsin and Wyoming to receive the award. Hendrickson was praised for her work ethic, her flexibility and her leadership during the COVID-19 pandemic.

Trinity names chief of medical staff

Dr. Scott Knutson, an emergency physician and frequent member of Trinity Health’s leadership team, has been elected chief of medical staff for Trinity Health. Knutson was selected by his peers and confirmed by the Trinity Board of Directors. Also elected to serve on the Medical Staff Executive Committee were Dr. Casmiar Nwaigwe, vice chief of staff, and Drs. Timothy Bedell and Chittaranjan Routray, both members-at-large. Dr. Jeffrey Sather will continue to serve as immediate past chief of staff. Knutson will lead a medical team of over 250 primary and specialty care providers ...

Forbes recognizes Town & Country Credit Union

Town & Country Credit Union was recently recognized as one of the Best Credit Unions in the nation by Forbes in its Best-in-State Banks and Credit Union list. The rankings provide a comprehensive look at the elite of America’s smaller financial institutions. Town & Country Credit Union was the only North Dakota credit union to be recognized. “We’re proud to be recognized as one of the best credit unions in the nation by Forbes,” said Kalli Schell, interim president/CEO. “This distinction recognizes the efforts we’ve made as a credit union to provide meaningful value and ...

Futures Files

National down day Nearly every market—domestic and foreign, farm and financial, short term and long term—took a nosedive Tuesday, right after our nation’s birthday celebration. Investors, already reeling from the worst stock market decline in 50 years, harbored little hope of recovery. Rising interest rates, war, and inflation fears pulled the rug out from stocks, bonds, and the price of crude oil, which crashed $10 per barrel. - Markets make U-turn But optimism quickly followed the wash-out as consumers mulled over the benefits of the 22 consecutive day decline in ...

How a hotel satisfaction promise has led to more discontent

In the 1990s and early 2000s, the “100% Satisfaction Guarantee” was all the rage among many hotels. The gist was simple: Encounter a problem and receive your money back. In theory, this approach addressed fairly serious issues such as early-morning pool renovations that made the jackhammer an unwelcome alarm clock. Bed bugs. No hot water. But some hospitality experts say that promise — a 100% refund if customers weren’t 100% happy — might’ve made things worse for both the customer and the hotel. “A toddler spilling yogurt may take staff longer to clean up, evolving ...