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Fed Announces Plan to Preserve Low Interest Rates Even When Inflation Picks Up

  • On Thursday, the Federal Reserve announced a new approach to inflation, allowing inflation to run above the 2 percent target before increasing interest rates
  • The move signals that interest rates on home and business loans will likely remain extremely low for several years
  • Fed also shifts stance on employment in response to higher jobless levels due to the COVID-19 pandemic
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Businesses Prepare For The Waiting Game As PPP Forgiveness Process Opens

  • SBA opens forgiveness portal for PPP this week, but applicants have been advised to bide their time as further guidance emerges
  • Partial forgiveness options available, and low interest rates can also be attractive to those who need to pay the loan back
  • Questions remain on issues such as tax deductions
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U.S. Producer Prices Fall Unexpectedly

  • U.S. producer prices unexpectedly fell in June as weakness in services offset rising costs for energy goods
  • Deflation remains unlikely as the economy battles depressed demand caused by the COVID-19 pandemic
  • Lower interest rates likely to continue
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