President Changes Lake Ontario Name, Federal Reserve Chair Addresses Inflation

Why it matters locally: The Federal Reserve's stance on inflation can indirectly affect Hawaii's economy through interest rates, which impact borrowing costs for businesses and consumers, and the overall cost of living in the islands.

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President Trump signed an executive order this week to change the name of Lake Ontario to Lake America. This action followed previous statements by President Trump concerning Canadian leaders. Separately, the chair of the Federal Reserve addressed the ongoing issue of inflation. The chair stated that inflation continues to be a problem.