Presidents & President Elects, Incoming and Outgoing Public Policy & DelPAC Chairs, CEOs and AEs:
Please note that DEFAC met today and they are setting the state budget deficit for 2017 at $350 million. This number can change several times between now and June 30th but there seems to be no miraculous windfall expected on the horizon. From the News Journal:
The Federal Reserve voted Thursday to keep interest rates unchanged, amid concerns over the global economy and financial market volatility. But Fed officials hinted that a modest policy tightening could occur later this year.
The Fed's benchmark short-term rate has stayed near zero since December 2008, which has also helped to keep mortgage rates low ever since. Economists have been largely predicting for months that the Fed would likely raise rates in September, the first time in almost nine years.