The Federal Reserve has again voted to raise interest rates, a move most economists saw coming. “Our spring 2018 Economic Outlook Survey found record optimism from small and mid-sized business owners nationwide about the national economy, their local economies and their own companies,” said PNC Chief Economist Gus Faucher. “These companies reported expectations that U.S. economic growth will accelerate in 2018 and the labor market will tighten.” Under these circumstances, it’s common for the Federal Reserve to increase interest rates. “To prevent the economy from overheating, the Fed will continue to gradually raise the federal funds rate throughout 2018,” added Faucher.
Here’s what higher interest rates could mean for your small business:
Learn more about small business banking with PNC »
1. 2017 Business Dynamics Statistics, U.S. Census Bureau, 2017
These articles are for general information purposes only and are not intended to provide legal, tax, accounting or financial advice. PNC urges its customers to do independent research and to consult with financial and legal professionals before making any financial decisions.
This site may provide reference to Internet sites as a convenience to our readers. While PNC endeavors to provide resources that are reputable and safe, we cannot be held responsible for the information, products or services obtained on such sites and will not be liable for any damages arising from your access to such sites. The content, accuracy, opinions expressed and links provided by these resources are not investigated, verified, monitored or endorsed by PNC.
BBVA is a registered trademark of BBVA, S.A. and is used under license.
Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.