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December 2015

Found 2 blog entries for December 2015.

Pictured above: conceptual image of proposed Belmont flyover track

On an average weekday, the CTA, or Chicago Transit Authority, estimates that over 240,000 people enter the L system through the Red and Purple Lines. That’s over 40% of all CTA riders, and ridership is only on the rise. One look at Red Line stations in the Loop during rush hour confirms this. The train cars are beyond capacity, full to bursting, as riders jostle and stand shoulder to shoulder. Furthermore, current Red Line riders experience a seconds to minutes long delay whenever they pass through the Belmont station in Lake View, where they wait for the Brown Line train to cut across the Red and Purple Line tracks. Although these issues seem to be easily resolved with more trains

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Pictured above: Federal Reserve headquarters in Washington, D.C. 

The federal interest rate is projected to increase soon, perhaps as soon as this December, for the first time in nearly seven years. Since December 16, 2008, the Federal Reserve has kept the federal interest rate, or the federal funds rate, between zero and 0.25 percent. By keeping rates this low during a historic recession, the Federal Reserve was hoping to aid economic growth. Consumers would be able to borrow money without having to pay much interest, and thus be able to tide over during hard financial times as they earned and saved. The stock market would boom, and consumer confidence would rise.

However, the Federal Reserve has been exercising caution over recent years to

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