The Federal Reserve met this week, and, as far as I can tell, it pretty much telegraphed a rate increase in September. What will this mean for the US economy?
If one 0.25 percent increase in the target overnight lending rate between banks causes the U.S. economy to swoon, guess what, it was going to do so anyhow. In and of itself, the upcoming change in monetary policy is simply an admission of the obvious: the economy and, more importantly, the financial system are no longer teetering on the brink of Armageddon. (Read the full article as previously published in the Montgomery Advertiser Saturday June 20th)
The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.