"What Do Rising Interest Rates Mean for Treasurers," Stephen Baird, GT News, November, 2004.

Corporate treasurers noted higher interest rates this past summer when the Fed raised the federal funds rate 75 basis points. Though long anticipated, the central bank’s actions represent a milestone, having raised the benchmark overnight lending rate from a 46-year low of one percent. Although continued mixed economic data should encourage the Fed to proceed cautiously, most economists expect more tightening of monetary policy through 2005.

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