PORTLAND, Maine (NEWS CENTER) -- Financier Sarah Halpin, answers your questions on how a possible interest rate hike will affect you.
Halpin is a certified financial planner with the Danforth Group of Wells Fargo Advisors...She will join NEWS CENTER's digital team following her segment on the Morning Report on Tuesday, September 20, 2016, at approximately 6:30 am. Halpin will take Facebook Live questions to answer directly.
Officials said The Federal Reserve will gather to discuss monetary policy and a potential rate hike at the Sept. 20-21 Federal Open Market Committee (FOMC) meeting.
According to an article on USATODAY, Federal Reserve chief Dennis Lockhart declared his interest in an interest-rate hike in 2016, calling for a "serious discussion" of a rate increase even as he painted a mixed picture of the economy saying he expects stronger growth in second half of the year and noted "progress toward our full employment mandate" following strong job gains in recent months."
Another article on USATODAY said an interest rate hike would be good for banks.
The fate of U.S. bank stocks took an interesting twist Friday when the market plunged 2.5%, its worst one-day dive since late June. While analysts say a Fed rate hike and higher rates overall would be welcome news for banks’ battered bottom lines. USA TODAY
According to USATODAY, the chairman, and CEO of JPMorgan Chase, Jamie Dimon told a gathering of financiers in Washington, D.C. Monday that this is right for the Federal Reserve to raise interest rates. “Let’s just raise rates. You don’t want to be behind the eight-ball. I’d go sooner rather than later," he said. - USATODAY
An article written by John W Schoen OF CNBCS SAID THAT this week's Federal Reserve decision to raise interest rates may be a sign of better things to come.
According to Schoen: "History rarely repeats itself exactly. But a CNBC analysis of six rate-hike cycles over the last three decades shows that rising rates were often accompanied by falling unemployment, rising stock prices, and solid economic growth."
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