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As you know the Federal Reserve just announced that interest rates are holding steady! The goal of the committee is to maintain the target range for the Federal funds rate. This is to support the expansion of economic activity, strong labor market conditions, and favorable inflation.
Why should YOU pay attention to this?
A couple of reasons:
- You’ll be informed on the state of the economy
- You’ll gain knowledge on the state of the job industry
- Paying attention will keep you up to date on the rate of inflation
- If you own a home, it lets you know if you can be saving money by refinancing to get a better interest rate
- If you are looking to purchase a new home, you want to purchase while rates are low
The next meeting is on March 17th & 18th.