Federal Reserve officials appeared divided at their meeting earlier this month over how much farther they may need to cut interest rates, but as a group agreed this was a moment to avoid giving much concrete guidance about how US monetary policy is likely to evolve in the weeks ahead.
“Participants noted that monetary policy decisions were not on a pre-set course and were conditional on the evolution of the economy and the implications for the economic outlook … They stressed that it would be important for the (Federal Open Market) Committee to make this clear as it adjusted its policy stance,” said minutes of the Nov. 6-7 meeting, which were released on Tuesday.
TheFedcut itsbenchmark policy rateby a quarter of a percentage point to the 4.50%-4.75% range at the meeting three weeks ago, a session that followed Republican candidateDonald Trump’svictory in the Nov. 5presidential election.
Participants noted the complications of making policy right now, with “many” saying that the volatility of recent economic data made it important to try to discern underlying trends, and many also observing that the uncertainty about the neutral rate of interest made it hard to determine how much current interest rates were actually suppressing economic activity.
That left some participants noting “that the Committee could pause its easing of the policy rate and hold it at a restrictive level” if inflation remained too high, and some saying that cuts could be accelerated “if the labor market turned down or economic activity faltered.”
“Many” officials argued that doubts about the true stance of monetary policy “made it appropriate to reduce policy restraint gradually.”
After the release of the minutes, financial markets added slightly to bets on a rate cut in December, and kept intact prior bets on a slower pace of reductions next year, with just one cut priced in by the middle of the year.
Fedofficials at the meeting appeared to steer clear at this session of any discussion about the economic implications of Trump’s coming return to office, according to the minutes.
The session also followed stronger-than-expected economic data – “remarkable” is howFedChair Jerome Powell referred to it – that stoked concern monetary policy may not be restricting the economy as much as thought.
Officials since the meeting have said ongoing economic strength meant the Fed’s benchmark policy rate might already be close to the “neutral” level, where it neither stimulates nor restrains activity, an argument for fewer rate cuts approved at a slower pace in order to avoid easing policy too much and possibly rekindling inflation.
Others argue the economy was likely to slow and the job market continue to weaken, which would be a reason to continue easing financial conditions to encourage spending and investment.
While investors still expect theFedto deliver another quarter-percentage-point cut at its Dec. 17-18 meeting, the odds have slipped from greater than 80% in mid-October to about 60% currently.
When I first got my hands on a Chinese electric mini-excavator, I thought it would be a fun little machine for digging a few holes and moving some dirt around. What I didn’t expect was just how useful and versatile it would become – and how often I’d reach for it for jobs that I never initially planned on tackling with a compact electric digger.
As I’ve watched all the fun reporting on new electric excavators, I’ve looked on in envy at what the current state of the art is… if you’ve got a quarter million bucks burning a hole in your hefty pocket. They are amazing machines, but I feel like the kid sitting outside of the sandbox and looking in, never able to play with the toys myself. But as it turns out, as long as you don’t need a massive machine, a mini-electric excavator wound up offering me many of the same benefits.
These battery-powered machines are cleaner, quieter, and cheaper to run than their diesel counterparts, which is great. That’s exactly why I started with NESHER in the first place. But what really surprised me was how many odd jobs around my parents’ acreage my little NX2500 excavator managed to take over. Here are five unexpected ways I’ve been using my Chinese electric mini-excavator.
1. Trench digging for irrigation
This was actually one of the first “off-script” jobs I tackled. My parents needed to run some irrigation lines through their property for a new garden setup, and while I originally planned to help my dad out the old-fashioned way (with a trenching shovel and a lot of sweat), I had my first mini-excavator delivered only a month ahead of time, and the timing couldn’t have been more perfect.
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I figured, “Why not?” and before I knew it, I was carving clean, even trenches in a fraction of the time. What would’ve taken an entire weekend by hand was done in about an hour or two, and with zero back pain. It’s a perfect example of how machines like this can turn exhausting, sweaty work into something you actually enjoy.
That picture was taken only part way through… that trench kept going to more planters further out!
Ever since I hurt my back a few years ago, a part of my rude welcome to how the mid-30s feels quite different from the mid-20s, I’ve been a little more aware of the kind of stress I put on my body. While I’m still quick to grab a shovel when I need one, the thought of hand trenching all day with a shovel versus an hour in the operator’s chair was a no-brainer.
2. Tree planting made way easier
Planting one tree is no big deal. Planting 10? Or 20? That’s starting to become a project. Planting 50? That’s a whole day with a shovel – or just a couple of hours with the mini-excavator.
The machine makes short work of digging perfect-sized holes, whether you’re dropping in fruit trees, palms, or trying to reforest a bare section of land.
Digging a hole and dropping the spoils on the sled
In the beginning, there was some trial and error, but I’ve learned that you can fine-tune your technique to get the hole shape just right, so the trees don’t settle awkwardly or too deeply. It’s still manual labor in a sense, since those joysticks don’t work themselves, but it’s a lot less manual than working the shovel all day!
I also found that I can use a simple yard sled to load the spoils onto, then use the UTV to drag it away to the spoil pile elsewhere on the property. If you don’t have a dump truck or mini-truck around, a yard sled is a cool little way to move heavy things easily by dragging them around.
3. Mulch moving machine
I hadn’t originally planned on using the excavator for this one, but I had a big pile of mulch that needed to get loaded into the back of my mini-truck to bring over to a planting area. Instead of shoveling it by hand or using buckets, I figured I’d see how the excavator would handle scooping and dropping. And it worked beautifully.
Is it a perfect loader bucket? Not really. But it does save a lot of time and effort compared to doing it by hand. For loose materials like mulch, compost, or even sandy soil, it’s a no-brainer.
Wild that all three of these machines are electric! We’re living in the future…
I still generally prefer to go with one of my loaders for bulk material like this, but in a pinch, the excavator can move 4-5x the amount I can per shovelfull, and each pass is a heck of a lot less exhausting on me!
4. Grading around trees for a shipping container pad
Here’s one I definitely didn’t expect to work so well. I had an area near some trees where I wanted to drop a shipping container. The ground was a mess – uneven, root-covered, and just generally not flat enough for the container to sit level.
I figured I’d give the excavator a shot at scraping and grading the area flat, and with a little finesse, it worked surprisingly well. It took some careful passes, and I wouldn’t call it laser-level precision, but it was more than good enough to get the container settled evenly and safely.
I’ve since put a second container next to it and built a roof structure between them, so now I have a 40×10-foot (12×3-meter) covered parking area between two shipping containers. I’d say it worked quite well!
5. Hoisting and lifting logs (and other heavy stuff)
Now this one’s a bit outside the box – and outside the manual. These machines aren’t really designed for lifting heavy objects the way a larger excavator or crane is, but they’re surprisingly capable if you’re smart about it.
I’ve hoisted several hundred pounds with mine, like awkward loads or cut log sections. A lifting strap slung over the bucket makes it easy to mount weird-shaped things, and you just have to be careful about swinging around too quickly.
I added a manual thumb attachment, and that proved to be a real game-changer. I can now pick up logs and branches, spin them around, and drop them into the bed of the mini-truck like a tiny mobile crane. Again, one or two logs are easy enough to toss by hand. But when a tree or two comes down after a storm and there are 20 or 30 logs, my back is going to thank me for not trying to toss each one by hand.
Final thoughts
It’s easy to write off these Chinese electric mini-excavators as toys or underpowered knock-offs. But after putting on real-world use for everything from planting trees to loading mulch and lifting logs, I can say they’ve proven themselves. No, they won’t replace a full-size backhoe or dozer, but they’re not trying to. These things are for the small jobs – the ones that wear you out if you try to do them by hand and don’t justify calling in a pro crew. They’re for the homesteaders, not the contractors.
Add in the fact that they’re electric – so you can run them in a garage or barn without worrying about fumes –and you’ve got a pretty compelling machine for landowners, landscapers, hobby farmers, or anyone who wants a quiet, capable, compact helper.
They aren’t without their downsides. Run times are only between 4-6 hours, and the roughly 1 mph (0.6 km/h) walking speed is excruciatingly slow when you need to travel to the farther flung areas of the property. But at least they’re relatively quiet and vibration-free, not to mention emission-free, for that long traverse!
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Three people are in a life-threatening condition after a suspected arson attack at a restaurant in Ilford, say police.
Five people – three women and two men – were injured in the fire, which broke out shortly after 9pm on Friday at Indian Aroma on Woodford Avenue, Gants Hill.
No arrests have been made.
Hospital porter Edward Thawe, 43, went to help with his son after hearing screams from his nearby home.
Image: Woodford Avenue from above. Pic: UK News and Pictures
He described the scene as “horrible” and “more than scary and the sort of thing that you don’t want to look at twice”.
He said: “I heard screaming and people saying they had called the police.”
He said he saw a woman and a severely burned man who may have been customers.
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He said the man’s “whole body was burnt”, including his shirt, but he was still wearing his trousers.
After being treated at the scene by paramedics from the London Ambulance Service, the victims were taken to hospital.
Image: Indian Aroma in Ilford after the fire. Pic: UK News and Pictures
Nine others were able to get out beforehand, London Fire Brigade (LFB) said in a statement.
“The brigade’s control officers received seven calls about the fire and mobilised crews from Ilford, Hainault, Leytonstone and Woodford fire stations to the scene. The fire was extinguished by 10.32pm,” said an LFB spokesperson.
“We understand this incident will cause concern within the community. My team of specialist detectives are working at speed to piece the incident together,” said Detective Chief Inspector Mark Rogers, of the Met’s Central Specialist Crime North unit.
“Locals can expect to see a large police presence in the area. If you have any concerns, please speak to those officers on the ground.”
The London Ambulance Service told Sky News: “We sent resources to the scene, including ambulance crews, an advanced paramedic, an incident response officer and paramedics from our hazardous area response team.
Image: Indian Aroma in Ilford after the fire. Pic: UK News and Pictures
“We treated five people for burns and smoke inhalation. We took two patients to a major trauma centre and three others to local hospitals.”
Health secretary Wes Streeting, who is the MP for Ilford North, posted on X to thank the emergency services for their response to the fire.
He also asked his constituents to “please avoid the area for now”.
Anyone with information is urged to contact the Met via 101, quoting 7559/22AUG. If you wish to remain anonymous, please speak with Crimestoppers on 0800 555 111.