Month: January 2026

Yesterday, the Federal Reserve Financial Services (FRFS) announced new actions to better support the circulation of pennies for commercial activity. Beginning on January 14, 2026, the Federal Reserve will resume accepting pennies from banks and credit unions at commercial coin distribution locations providing services under arrangements with the Federal Reserve that were previously suspended.

While the Federal Reserve continues to support penny deposits, local inventory constraints had limited that activity at some locations. Our monitoring of the flow of penny deposits from financial institutions as these changes take effect will determine whether some subsequent expansion of ordering options for pennies is feasible, given that penny production has ended.

The Federal Reserve’s role for coin is limited to distribution to banks and credit unions on behalf of the U.S. Mint, which is the nation’s issuing authority for coins. The Federal Reserve does not provide coins directly to businesses or consumers.

The Department of Workforce Development (DWD) encourages employers to apply for Wisconsin Fast Forward (WFF) grants, which aim to address the state’s demand for skilled workers. Employers in every industry and of all sizes across Wisconsin are eligible to apply for this round of WFF funding to train their workers.

The WFF program supports innovative local and regional solutions to help employers meet workforce needs in their areas. Grants reimburse the costs of customized occupational training for unemployed, underemployed, and existing workers. Approximately $1.5 million is available for grants ranging from $5,000 to $400,000, or higher for consortium applicants. The grants can cover training that qualifies workers for full-time positions, higher-level roles, or increased wages.

“The Fast Forward program is a strategic investment in the state’s workforce that fills in-demand positions for employers while offering workers the skills they need to succeed,” said DWD Secretary Amy Pechacek. “These grants strengthen Wisconsin’s workforce for the future, and we encourage employers to apply for funding to support their workforce.”

Eligible applicants include:

• Public agencies
• Private organizations in all industry sectors
• A consortium with the lead public or private organization serving as the applicant
• Tribal governing bodies of a federally recognized tribe or band of Native Americans or an organization appointed by a tribal governing body

Applications are due by 3 p.m. CST Wednesday, Feb. 18, 2026.

More information and instructions to apply can be found at the Wisconsin Fast Forward Program website.

The U.S. Department of Labor’s Wage and Hour Division today issued six opinion letters designed to promote clarity, consistency, and transparency in the application of federal labor standards under the Fair Labor Standards Act and Family and Medical Leave Act.

The opinion letters provide official written interpretations from the division that address real-world questions and explain how laws apply to specific factual circumstances presented by individuals or organizations, that may also have a broader interest to those impacted by the issue presented.

The opinion letters issued today are:

• FLSA2026-1: Whether an employee’s role meets the criteria for the learned professional exemption under section 13(a)(1) of the FLSA, and, if so, whether an employer is nevertheless permitted to reclassify the employee as non-exempt.
• FLSA2026-2: Whether section 7(e) of the FLSA permits an employer to exclude certain bonus payments from an employee’s regular rate of pay. The letter also addresses how to include these payments in the calculation of employee overtime premiums if the payments must be included in an employee’s regular rate of pay.
• FLSA2026-3: Whether a union and employer can enter into a collective bargaining agreement that mandates a 15-minute “roll call” prior to each scheduled shift but excludes that time when calculating overtime premiums under the FLSA.
• FLSA2026-4: Whether, for purposes of the overtime exemption for certain commissioned employees in section 7(i) of the FLSA, an employer in a jurisdiction in which the state minimum wage exceeds the federal minimum wage must use the federal minimum wage, or alternatively, the higher state minimum wage, to determine whether it has satisfied the minimum pay standard in section 7(i)(1), and whether tips are deemed compensation for purposes of section 7(i)(2)’s requirement that more than half the employee’s compensation consist of commissions.
• FMLA2026-1: How a school closure of less than a full week impacts the amount of leave a school employee uses under the FMLA.
• FMLA2026-2: Whether FMLA leave may be used for time spent traveling to or from medical appointments, including where an employee provided the employer with medical certification from a health care provider that confirms the employee’s need for the appointment, but the certification does not address travel to or from the appointment.

In June, Deputy Secretary of Labor Keith Sonderling announced the launch of the department’s opinion letter program, which expands the department’s longstanding commitment to providing meaningful compliance assistance that helps workers, employers, and other stakeholders understand how federal labor laws apply in specific workplace situations.

Crude oil prices generally declined in 2025 with supplies in the global crude oil market exceeding demand. Crude oil inventory builds in China muted some of the price decline.

On a monthly average basis, the price of Brent crude oil declined from a high of $79 per barrel (b) in January to a low of $63/b in December, which was the lowest monthly average price since early 2021. The annual average price was $69/b, the lowest since 2020, even when adjusting for inflation.

In the first half of the year, crude oil prices declined in response to slowing economic activity, which can affect global oil demand. Prices decreased in the first quarter (1Q25) with a contraction in U.S. GDP, and prices fell nearly $15/b further in April amid expectations that escalating tariffs among large economies could continue to slow economic growth.

In the second half of the year, OPEC+ announcements that increased crude oil production targets for the group increased the prospect of an oversupplied market. The EIA estimates that global production of crude oil and liquid fuels outpaced consumption throughout 2025, with implied stock builds of more than 2.5 million barrels per day in the final two quarters of the year. These stock builds were the largest recorded since 2000, aside from in 2020.

Generally, crude oil prices tend to decrease as global petroleum stocks increase.