Federal Reserve Lowered Interest Rate Target, Manufacturers May Benefit
According to the National Association of Manufacturers’ (NAM) Monday Economic Report for this week, U.S. manufacturers are hopeful that borrowing conditions ease. At the Federal Reserve meeting last week, the Fed noted that inflation has made progress toward its 2% target as it weighs the risks to achieving its employment mandates with the risks to its inflation goals. As the interest rate target range is lowered to 4.5%-4.75%, manufacturers may experience a break in borrowing costs and an opportunity to boost investment.