Small Business Loans May Remain “Cheap” for Extended Period

Federal Reserve Chair Jerome Powell testified before the Senate Banking Committee last week to update legislators on the state of the economy and the Fed’s future course of action. He has signaled that the Fed will continue its policy of gradually increasing interest rates after several years of low rates in the years following the Great Recession that started a decade ago. The next rate hike could come at the Federal Reserve’s meeting this month.

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