Slogging around: Louisiana is one of the top 10 states with the highest number of residents driving flood-damaged cars, according to new research from vehicle history report company Carfax. Louisiana is No. 10 on the list with 9,000 flood-damaged vehicles back in use. Texas tops the list with 43,000. According to Carfax, data suggest that more than 271,000 vehicles are back in used after being reported as flood damaged by insurance companies and state departments of motor vehicles. That’s a 30% increase since 2013. The waterlogged wrecks have made their way to every state, Carfax says. “Flooded cars are a buyer’s worst nightmare,” spokesman Larry Gamache says in a statement. “They’re ticking time bombs because when you least expect it, the electrical, mechanical or safety systems on these cars will fail, often without warning.” Read the full statement.
What a relief: Perkins Rowe will host a fundraising event later this month to raise money for a Society of St. Vincent de Paul program that can help victims of August’s devastating floods, according to a news release. The event, titled “Relief at the Rowe—A Day for Our Community,” will take place on Saturday, Sept. 24, from 10 a.m. until all the mixed-use development’s stores close. A number of Perkins Rowe retailers and restaurants will donate a portion of their sales that day to St. Vincent de Paul’s House in a Box program, which provides new household items for families who have lost everything as a result of natural disasters. Perkins Rowe also will donate 100% of its parking meter revenue from September to the program. Relief at the Rowe will coincide with the 7th annual Perkins Rowe Arts Festival, which features artists from across the state presenting their works of art, as well as free children’s art activities and live musical performances.
Wait a minute: The Federal Reserve should avoid removing support for the U.S. economy too quickly, Fed Governor Lael Brainard says today in comments that solidified the belief that the central bank would leave interest rates unchanged next week. Brainard says she wanted to see a stronger trend in U.S. consumer spending and evidence of rising inflation before the Fed raises rates, and that the United States still looked vulnerable to economic weakness abroad. “Today’s new normal counsels prudence in the removal of policy accommodation,” Brainard, one of six permanent voters on the Fed’s rate-setting committee, told the Chicago Council on Global Affairs. She says the U.S. labor market was not yet at full strength, which means “the case to tighten policy pre-emptively is less compelling.” Reuters has the full story.
