Interest Rates Are Down

Down Interest Rates

Recently, the Federal Reserve has cut interest rates again and currently sit at a range of 1.5 to 1.75 percent. Low interest rates are meant to give a boost the economy by encouraging lending and home buying. However, Local governments and schools have been suffering from lower interest earnings each year due to these institutions having money invested.

Ferguson Township works with multiple banks in an effort to get the best return. Thanks to the Act 10 of 2016, the Township has permitted additional Pennsylvania investment types for operating funds. Ferguson Township uses PLGIT or "The Pennsylvania Local Government Investment Trust" to manage investments.