BREAKING NEWS: FOMC Holds Rates Steady, Adopts Neutral Stance

Written By Lindsey Kinzy

The Federal Reserve maintained short-term interest rates at 5.25%-5.5%, noting inflation is nearing the 2% target but requiring further progress before rate cuts, possibly as early as September. The economy grew at a 2.8% annualized rate in Q2, despite signs of a weakening labor market, including modest job growth in July, a rise in the unemployment rate to 4.1%, and the slowest wage growth in three years.


Key Takeaways:

  • Fed held rates steady, possible rate cut in September.

  • Inflation nearing 2% target but still somewhat elevated.

  • GDP growth strong at 2.8%, labor market shows modest signs of weakening.

  • Pending home sales surged unexpectedly by 4.8% in June.

 

Given the current interest rates, many clients are accessing retirement funds via Rollover as a Business Startup (ROBS) or choosing SBA loans with extended terms. No matter the financial situation, Tenet Financial Group offers tailored solutions. Contact us anytime; we're here to help you and your clients.

Lindsey Kinzy
Next

What is a Self-Directed 401(k)?