Since December 2008, the Federal Reserve has pinned its interest rates to nearly zero. This was to help struggling businesses all over the country stay afloat when the US economy plunged during the 2007-2009 economic recession.
The US economy has since managed to get back on track. Asset management in Washington, DC and the greater Metro DC area has been an important part of their overall economic recovery. That has led most economists to say that the Federal Reserve will probably begin to raise short-term interest rates this September. The Wall Street Journal recently conducted a survey, which revealed that most economists foresee a rate rise next month, while a few said that the Fed might wait until December. Chad Moutray, National Association of Manufacturers chief economist, said, “The Federal Reserve continues to message that it intends to normalize rates this year, and with rebounding activity in the coming months, September continues to be the leading candidate,”
How Interest Rates Affect Us
With the inevitable rise in the Federal Reserve’s interest rates, this will influence the stock market, and eventually cause a ripple effect to all of us. It will become more expensive for banks to borrow money. Once this happens, expect credit card and mortgage rates to increase.
Seek Professional Advice
That is why when it comes to managing your funds, stocks, bonds, and even your debt, make sure to hire the services of the reliable Potomac asset management company. Since 2000, AOG Wealth Management has been providing our expertise on managing finances to our clients in Northern Virginia, Washington DC, and Maryland. We also provide wealth management services in a boutique setting, customizing portfolios to each client based on their risk/reward profile.
For professional advice on asset management, contact AOG Wealth Management and we will help you accomplish your financial goals. We will make sure to help you even when the Federal Reserve starts to raise its interest rates. To work with our wealth management team, contact us today.