Rhode Island
The Fed just cut rates. Here is what it means for Rhode Island – The Boston Globe
For Rhode Island, the advent of a rate cut comes at a time when the unemployment rate has gone up while the labor market is seeing fewer jobs available for workers. Meanwhile, the housing market has registered record prices for homes amid elevated mortgage rates and limited supply of homes in the market.
Experts suggested that the Fed’s move would help stabilize the labor market in the state.
“We have seen some weakness, but we haven’t been seeing a whole lot of layoffs and hopefully this will continue to decrease the number of layoffs,” Lisa Murray, Citizens Bank’s Massachusetts president, told the Globe. “I think we got a little fat during the pandemic and that’s why we saw some of the activity that we’ve been seeing with layoffs. But I think people are going to continue to try to right-size their organizations for a much more measured economy going forward.”
Laurie White, the president of the Greater Providence Chamber of Commerce, told the Globe the Fed’s lowering of borrowing costs will help companies to source relatively cheaper capital to invest in their businesses.
“I think it could be euphemistically said hallelujah,” she said. “The reduction, the half-point reduction, is going to unleash additional capital expenditure activity.”
White described the Fed’s move as “aggressive” and anticipated more cuts over the coming months. She noted, however, how businesses react will be influenced by more than just what the Federal Reserve does, but also by the results of who will end up in the White House.
“I don’t think you’ll see anything, you know, truly, truly consequential from business in terms of making any moves until after the election in November, when it is determined what direction [of] the policy is,” White said.
One area of Rhode Island’s economy White said could be impacted by a drop in rates is the building sector, which could be helped by lower borrowing costs.
“The building and the construction industry is a very important sector to the Rhode Island economy,” she said. “There is a tremendous amount of pressure on homes, there is not…a lot of inventory. What we need is more inventory. But in order to get more inventory, you need to be able to borrow and build at rates that are competitive.”
John Marcantonio, the chief executive officer of the Rhode Island Builders Association, said he would wait and see how the rate cut impacts his members who represent the residential construction business in the state.
“When it was going up, the pace at which it went up, it certainly did affect, you know, housing,” Marcantonio said. “In many ways, how fast it comes down, the pace at which it comes down, where it would settle in, is going to be something we’re all going to have to sit back and watch and see how that effect happens. I would say I’m glad the Fed is finally cutting rates.”
Limited inventory is a major concern for the housing market in Rhode Island. A rate cut could lead to lower mortgage rates, which will spur demand for homes in a state struggling to provide enough properties for prospective buyers, said Chris Whitten, president-elect of the Rhode Island Association of Realtors.
Interest rates on home loans had been dropping in recent weeks in anticipation of a quarter percentage point rate cut, he said, but a 50 basis point reduction would put added pressure on the Ocean State’s housing market.
“For the Rhode Island housing market, which was already struggling with inventory,” he said, “I am going to see, I think, a lot more buyers getting in the market and therefore a lot more multiple offer situations and therefore the home values continuing to go up on their already record median high pace.”
In recent years, Rhode Island has lagged behind other states in the country in issuing new construction and building permits. An increase in local prospective homebuyers and from neighboring states would escalate competition and push up prices. Although lower borrowing costs may ease the cost of capital for builders, the sector would still face challenges to develop new homes.
“Even though it may be more advantageous for builders now, given the 50 basis points cut, it’s a matter of actually finding those opportunities and getting through the red tape that we have here in Rhode Island, at the local level, to build the inventory that we do need,” Whitten said.
Omar Mohammed can be reached at omar.mohammed@globe.com. Follow him on Twitter (X) @shurufu.
Rhode Island
GoLocalProv | Politics | Providence On Sunday Is One of the Sites for a National Protest Against ICE
Saturday, January 10, 2026
Protest in Providence in June against ICE PHOTO: GoLocal
Organizers in Rhode Island and across the country are mobilizing against ICE after a pair of shootings in the past few days.
Organizers locally said, “Rhode Islanders will gather on Sunday to honor the life lost, make visible the human cost of ICE’s actions, and demand that state and federal leaders reject local contracts with ICE, take every action possible to stop ICE from operating in Rhode Island, and hold ICE agents accountable when they break the law.”
The RI event begins at 2 PM at the State House on Sunday.
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Nationally, it was a announced on Friday that, “A broad national coalition, including Indivisible, MoveOn Civic Action, the American Civil Liberties Union, Voto Latino, United We Dream, 50501, the Disappeared in America Campaign of the Not Above the Law coalition, and partner organizations across the country, is calling for a coordinated ICE Out For Good Weekend of Action.
“The mobilization comes in response to the escalation of ICE violence in our communities, the killing of Renee Nicole Good, a 37-year-old wife and mother of three, and the months-long pattern of unchecked violence and abuse in marginalized communities across America. Across the country, communities will gather in nonviolent, lawful, and community-led actions to honor the life lost, demand accountability, and make visible the human cost of ICE’s actions,” said organizers.
Organizers added, “Good and the Portland victims are part of a broader and deeply alarming pattern of unchecked violence and abuse by federal immigration enforcement agencies. In September, ICE reportedly shot and killed Silverio Villegas González, a father and cook from Mexico living in Chicago. In 2025 alone, more than 30 people have reportedly died in ICE detention.”
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Rhode Island
Rhode Island General Assembly Begins 2026 Session With Focus on Affordability – Newport Buzz
PROVIDENCE — Rhode Island lawmakers opened the 2026 legislative session this week with a focus on health care affordability, housing costs and economic stability, as leaders in both chambers warned of uncertainty tied to federal budget changes.
House Speaker K. Joseph Shekarchi outlined House priorities centered on expanding access to health care while lowering costs, calling it the chamber’s top agenda item for the year. He also said lawmakers will continue addressing housing shortages and rising home energy costs, emphasizing the need for community input as policy decisions move forward.
In the Senate, President Valarie J. Lawson convened the chamber by urging bipartisan cooperation and announcing plans to introduce legislation supporting education, small businesses and the state’s health care system. Stabilizing hospitals and strengthening the primary care workforce were identified as key goals.
Both chambers paused to honor victims of the Dec. 13 shooting at Brown University, passing resolutions recognizing the victims and commending first responders. Lawmakers also observed a moment of silence.
New legislation introduced by Rep. Joseph M. McNamara would require the Department of Education to adopt a zero-tolerance hazing policy in partnership with the Rhode Island Interscholastic League, mandating clear and consistent discipline statewide.
Meanwhile, Reps. David Morales and Jennifer Stewart called on Gov. Dan McKee to fully fund public libraries in the upcoming state budget.
Speaker Shekarchi also announced several committee leadership changes, appointing Rep. Carol Hagan McEntee as chairwoman of the House Judiciary Committee and Rep. Mary Ann Shallcross Smith as chairwoman of the House Small Business Committee.
The week also marked the first Senate session for Sen. Stefano V. Famiglietti, who received committee assignments following his election to fill a vacant seat.
Legislative leaders capped the week by joining faith leaders at the 18th annual Rhode Island Interfaith Poverty Vigil at the State House, calling attention to legislation aimed at reducing poverty statewide.
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The Rhode Island Lottery offers multiple draw games for those aiming to win big. Here’s a look at Jan. 8, 2026, results for each game:
Winning Lucky For Life numbers from Jan. 8 drawing
05-12-13-39-48, Lucky Ball: 13
Check Lucky For Life payouts and previous drawings here.
Winning Numbers numbers from Jan. 8 drawing
Midday: 9-9-1-3
Evening: 0-9-6-6
Check Numbers payouts and previous drawings here.
Winning Wild Money numbers from Jan. 8 drawing
01-07-12-30-35, Extra: 26
Check Wild Money payouts and previous drawings here.
Feeling lucky? Explore the latest lottery news & results
Are you a winner? Here’s how to claim your prize
- Prizes less than $600 can be claimed at any Rhode Island Lottery Retailer. Prizes of $600 and above must be claimed at Lottery Headquarters, 1425 Pontiac Ave., Cranston, Rhode Island 02920.
- Mega Millions and Powerball jackpot winners can decide on cash or annuity payment within 60 days after becoming entitled to the prize. The annuitized prize shall be paid in 30 graduated annual installments.
- Winners of the Lucky for Life top prize of $1,000 a day for life and second prize of $25,000 a year for life can decide to collect the prize for a minimum of 20 years or take a lump sum cash payment.
When are the Rhode Island Lottery drawings held?
- Powerball: 10:59 p.m. ET on Monday, Wednesday, and Saturday.
- Mega Millions: 11:00 p.m. ET on Tuesday and Friday.
- Lucky for Life: 10:30 p.m. ET daily.
- Numbers (Midday): 1:30 p.m. ET daily.
- Numbers (Evening): 7:29 p.m. ET daily.
- Wild Money: 7:29 p.m. ET on Tuesday, Thursday and Saturday.
This results page was generated automatically using information from TinBu and a template written and reviewed by a Rhode Island editor. You can send feedback using this form.
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