Second quarter GDP (first look) was released on Friday and it was a disappointing 1.2% and a revision to the downside of previous quarters, but this is not a surprise to financial markets, this is why there was not an equity selloff. Earlier in July the minutes of the June FOMC meeting were released and revealed that the FOMC would be very supportive to all lending institutions for the foreseeable future. Here at Vilnius Industries we are Not forecasting a recession, we believe economic activity will continue to expand for the next 3 to 5 years which will foster an environment for new small business to be formed and thrive as long as they are offering a core product or service the general community demands.
Just as I was writing this article, the New York Fed President William Dudley was giving a speech in Bali, Indonesia, in which he said the Federal Reserve would most likely raise rates at a much slower pace then first thought.
Vilnius Industries believes this steady stream of FOMC members making statements about being commited to low rates and the language in the recent release of June's minutes, will allow businesses to obtain funding for start-ups and refinancing of debt to extend credit lines at still historically low rates.
Vilnius Industries is a small business, author, writer and investor. Vilnius produces proprietary content and material under the label of T.E.P.S which is a registered copyright. More of our content can be viewed at LinkedIn, Facebook and Bank of America Small Business Community.
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