Will the Fed’s interest rate hike affect lending in the Mid-South?
First Horizon Bank downtown headquarters on Wednesday, Nov. 6, 2019. The Fed raised interest rates for the first time since 2018 on Wednesday, March 16, hiking the rate between 0.25% and 0.5%. Bo Allen, First Horizon regional president for West Tennessee, Arkansas said “At the end of the day, rates are still really low,” when asked about how the recent spike in interest rates might affect lending. (Mark Weber/Daily Memphian file)
Interest rates on things like consumer debt are likely to rise following the Fed’s decision, which could put a strain on an economy already fighting decades-high inflation.
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Federal Reserve Interest Rates First Horizon Evolve Bank & Trust Bank3 Pinnacle Bank Subscriber OnlyThank you for reading The Daily Memphian. Your support is critical.
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Rob Moore
Rob Moore covers North Mississippi for The Daily Memphian. He holds a B.A. and an M.A. in English from The University of Memphis.
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