As you may know, our firm has deep roots in the golf community and we are very thankful for the professional relationship with the PGA tour and it's members. For years our firm has sponsored numerous golf events on the PGA tour along with select golf professionals.
Today we celebrate the 13th anniversary of our most beloved team member, Lily Santiago.
The Federal Reserve on Wednesday approved its first interest rate increase in more than three years, an incremental salvo to address spiraling inflation without torpedoing economic growth. After keeping its benchmark interest rate anchored near zero since the beginning of the Covid pandemic, the policy making Federal Open Market Committee said it will raise rates by a quarter percentage point, or 25 basis points. That will bring the rate now into a range of 0.25%-0.5%. The move will correspond with a hike in the prime rate and immediately send financing costs higher for many forms of consumer borrowing and credit. Fed officials indicated the rate increases will come with slower economic growth this year.
Over the past weeks, Russia rejected Ukrainian sovereignty, formally recognized the separatist regions of Luhansk and Donetsk, sent troops there, and then a day later invaded the entire country. Russian aggression and the declaration of war signals a rupture to the post-Cold War political order in Eastern Europe, and it could have devastating effects on Ukrainian civilians and the Ukrainian and Russian economies.
