It finally happened! The Fed Raises Interest Rates.
After almost a decade, the Fed announced yesterday that it is raising the target range for the federal funds rate from a range of 0 to ¼ percent to ¼ to ½ percent.
This much anticipated event signals the Federal Reserve’s confidence in the fact that economic activity continues to improve, albeit at a moderate pace. Within hours, banks also started announcing an increase in their Prime Rate, including J.P.Morgan Chase, Wells Fargo and Bank of America from 3.25% to 3.5%. The Trust Company believes that this background of news is a positive event for investors. And while many global economies remain fragile, the overall direction of change can be viewed as a reason to be guardedly optimistic.
We remain committed to our belief that it is always important time to work with your Advisor to discuss your long-term investment objectives, including your return expectations and risk tolerance levels. So like the much anticipated release of the latest Star Wars movie, we invite you to arrange your seat at a viewing with us. (Fandango is not necessary…just call us!)
As always we appreciate the opportunity to earn your trust.