Stability-control laws are welcome rules, CTA says

Economic Watch: Fed Hikes Interest Rates Again as Retail Sales, Inflation Ease a Bit

Despite retail sales falling by the biggest amount in 16 months and a dip in consumer prices, the Federal Reserve raised interest rates on Wednesday for the third consecutive quarter as the central bank signaled its confidence in the U.S. economy.

The Federal Open Market Committee pushed its benchmark interest rate higher to a range of 1% to 1.25%, meaning both consumers and trucking companies will face higher costs when it comes to borrowing money from banks.

This latest hike, coupled with earlier ones starting in 2015, has moved the federal funds rate higher by a full percentage point. Even with this latest increase the rate is still extremely low by historical standards ever since it was dropped to near zero by the end of 2008 due to the Great Recession.

The FOMC said it is leaving the door open to more interest rate hikes in the near term, most likely one more time this year and three times each in 2018 and 2019.

TD Economics noted the FOMC “was somewhat sanguine on the economy, indicating that activity has been ‘rising moderately' while the labor market ‘continued to strengthen' as job gains 'moderated but have been solid' and unemployment declined."

“The statement highlighted consumer spending has accelerated recently, while business investment continued to expand. Inflation was viewed as having 'declined recently' while the core measure is running 'somewhat below 2%,' but expected to stabilize near the target over the medium-term," said Michael Dolega, senior economist at TD Economics, part of TD Bank Group. "At the same time, inflation expectations were viewed as little- changed and still low."

He said a Fed statement about this latest hike was largely as expected, with the Fed emphasizing the continued labor market improvement and accelerating economic growth as reasons to be optimistic for the economic and inflationary outlook. As such, ...Read the rest of this story

Transport Canada posts final rule requiring stability control

Meet the Pro-Marijuana, Pro-LGBT Rights Truck Driver Running for Governor of Alabama

Childs answered "Roll Tide" when asked the first question that Alabama politicans usually get on the campaign trail. Photo: Jason Childs

These are strange political times in America today. So much so that an ex-evangelical preacher and current truck driver is running on a progressive Democratic platform for the governorship of one of the reddest states in the nation.

Gadsden native Jason Childs says that both political parties have failed blue- and middle-class collar families nationwide. And he wants to help return the Democratic party to its labor-oriented and populist roots by running for the Alabama's governorship on a host of progressive issues: Childs says he is for civil rights for all citizens, including Lesbian, Gay, Bisexual, and Transgender rights, favors legalizing marijuana, supports the Second Amendment and wants to repeal Alabama's current tax on groceries – a tax he says unfairly targets poor and working class families in the state.

It's a strange platform considering the 46-year-old Childs' background: He attended conservative Christian schools Liberty University and eventually graduated from the Florida Bible College and began a career as an evangelical, Southern Baptist preacher at the age of 17. But, the domination doesn't allow divorcees to preach, and after a too-early marriage failed, Childs found himself casting around for another profession.

In 2006, Childs decided he wanted to see America. He obtained his CDL and hit the road as a long-haul trucker. And it was during his trips across the country that his world view was challenged and eventually changed. “I talked to other drivers at truckstops, and ate with workers on warehouse docks, and I realized the reality of life for working- and middle-class Americans was much different then I'd been taught,” he said. “Their struggles are no being addressed by either party, nationally. And the Republican take-over of Alabama ...Read the rest of this story

Super Trucks: Pie in the Sky, or Pathway to Super Fuel Savings?

Volvo Truck's SuperTruck was revealed in September 2016. It achieved more than 12 mpg during the test run, and demonstrated an 88% improvement in freight efficiency and a 70% improvement in fuel efficiency over the baseline truck, a 2009 Volvo VNL 670. Photo: Jim Park

The September 2016 unveiling of Navistar's SuperTruck brought to a close the first round of the U.S. Department of Energy funded research and development project aimed at improving freight efficiency and reducing heavy-truck fuel consumption. The results were spectacular. And that begs the question, where do we go from here?

HDT reported on each SuperTruck as it was unveiled, and looking back, one can see the similarities in the various approaches the truck makers took, as well as those unique to each project.

The most obvious development in each case was the aerodynamic work. All the OEs went long on aero, an easy target. That's not to say the task was simple, as there was extensive design work along with modeling and testing. But at the end of the day, the closer each could get to the ideal aerodynamic shape, i.e., something similar to a rain drop, the greater the gains would be. Each OE ran into the brick wall of trailer shape, of course, but added a lot of bolt-on gear to the trailer to change what they could.

All used full-length trailer skirts that reached from close to the ground up to the bottom rail of the trailer. The problem is the potential for body damage resulting from day-to-day use. Fleets would never accept the maintenance problems associated with that sort of side skirt, but it's interesting to note that some of today's newer products are taller than previous versions. Maybe there is a growing acceptance that the aero benefits might outweigh the maintenance headaches.

The ...Read the rest of this story

You won't need to plug in the upcoming iPhone to charge it, Apple partner says

Apple supplier Wistron said on Wednesday that Apple's new iPhones will charge without wires.

Here’s How the US Could Cripple North Korea’s Economy

If it was meant to soften the image of the North Korean leader Kim Jung-un, the announcement that the regime had released captive American college student Otto Warmbier on Tuesday failed dismally after it was revealed that the young man, unbeknownst to his family, has been in a coma since last year. Warmbier was convicted in a show trial last year for allegedly stealing a political poster -- a “crime” for which he was sentenced to 15 years' hard labor. The mistreatment of Warmbier is attracting additional attention to North Korea at a time when U.S. officials are already convinced that the rogue regime presents a serious threat to U.S. interests and national security.