On September 18th, the Federal Reserve lowered interest rates for the first time in two years by 50 basis points. Historically, the Fed begins an easing cycle by 25 bps and lowers by 50 bps only when there are stresses in the economy or banking system. So, a cut while the economy is still growing by 2% and the labor market is still at full employment was an extraordinary move. The Fed also positioned markets to expect continued rate cuts into the end of this year and into next year as well. This is a highly unusual action and, in our view, a game changer for markets.
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Robert G. Gilliland, CRPC™Managing Director and Senior Wealth Advisor
Robert’s professional journey seamlessly blends individual excellence with exceptional team-building skills. While earning his Bachelor’s degree in Finance from Stephen F. Austin State University, he financed his education by managing a restaurant franchise — a role that honed his abilities in time management, leadership, and financial oversight. At Merrill Lynch, Robert quickly distinguished himself through […]
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