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By:
Philip C. Jackson, Commercial Banking, Lehigh Valley Market President November 10, 2016
We have been saying for several years now that you should expect interest rates to rise. This has been slow in coming, but it is expected that interest rates will increase over the next 12 months. In anticipation of increasing rates, there are things you can do now as a business owner:
Refinance – If you have any long-term debt that carries a high interest rate, you should consider refinancing this debt. Be sure to review your documentation for exit or penalty fees. Also, keep in mind, even if you have fees, you can earn them back if you…
By:
Chris Carter, NMLS# 128061, Vice President and Sales Manager, Univest Bank and Trust Co. October 5, 2016
The Board of Governors of the Federal Reserve meets to discuss economic policy on about eight pre-set dates throughout the year (roughly every 5-8 weeks). This board determines benchmark interest rates that ultimately impact consumer rates. At the last meeting in September, the Federal Reserve decided to leave interest rates unchanged.
In all but one of the last 23 Federal Open Market Committee (FOMC) sessions, interest rates have remained unchanged. At year-end 2015, the Fed imposed a .25 basis point increase while optimistically forecasting subsequent rate hikes. However, the Fed altered its tone just 60 days later (in February 2016,…
By:
Dave Geibel, Managing Director, Girard, a Univest Wealth Division September 30, 2016
The Federal Reserve decided to pass on the opportunity to increase interest rates in September. This comes on the heels of continued strong employment growth, although overall U.S. economic growth remains slow compared to historical averages with Gross Domestic Product (“GDP”) growth at just 1.5 percent for 2016.
The Fed has a dual mandate of full employment, which is near target, and price stability (inflation), which remains below the target. The Fed’s goal of 2% inflation, as measured by the Personal Consumption Expenditures (“PCE”), has remained below…
