News and Insights

The much-anticipated Fed interest rate cut finally happened! At its September 18th meeting, the Federal Open Market Committee lowered the federal funds rate by 50 basis points as expected.

In Michigan, summer is a time to get out of the house and enjoy the beautiful, warm weather. Trips to the beach and even vacations abroad are plentiful. Consumers are happy and therefore likely to spend quite a bit of their discretionary income.