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IMPORTANT NOTICE :

NEVER trust wiring or ACH instructions sent via email. ALWAYS confirm with the sender by phone or in-person. Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing, sophisticated, and often appear to come from someone you know or work with. Always independently confirm wiring or ACH instructions in-person or via a telephone call to a trusted and verified phone number. NEVER wire or ACH money without double-checking that the wiring or ACH instructions are correct.


The Weekly Economic & Market Recap    

October 12, 2018  

“Inflation this year is shaping up weaker than expected despite Fed assurances that inflation will rise above 2% in the next couple of years” said FTN chief economist Chris Lowe. Bond yields are a barometer of where investors think economic growth and inflation are headed. Recently, longer-term interest rates have moved higher with the 30-year mortgage hitting nearly 5%, the highest level in 7 years. If inflation figures are not as strong as expected then why are interest rates rising? Recently, the unemployment rate came down to 3.7%, the lowest since 1969. It is expected that with a tight labor market, there is going to be greater pressure on wages to rise and that could lead to inflation. The Federal Reserve has been raising short term interest rates since December 2015 and it wants interest rates to return to “normal”. The common belief is that rates should go up because the economy is strong. Federal Reserve Chairman Powell recently commented that the Fed had a long way to go before short-term rates could be considered normal. An important factor will be inflation figures. If inflation looks to be falling short of the Fed’s 2% target, the Federal reserve could hold off on increasing short-term rates. 

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PEAPACK-GLADSTONE BANK IS A HIGH-PERFORMING BOUTIQUE BANK, LEADERS IN WEALTH, LENDING AND DEPOSIT SOLUTIONS, KNOWN NATIONALLY FOR UNPARALLELED CLIENT SERVICE, INTEGRITY AND TRUST.


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