Pioneer Bancorp Inc.
09/18/2024 | News release | Distributed by Public on 09/19/2024 10:51
Times Union: Fed makes big rate cut, forecasts more
Times Union: Fed makes big rate cut, forecasts more
9.18.2024
"Businesses may be the biggest winners in light of Wednesday's decision, said Thomas Amell, president and CEO of [Pioneer], which operates 22 branches in the greater Capital Region.
Typically, businesses rely on borrowing to expand or get through slow seasons and the cut reduces their costs, allowing them to grow faster. That in turn can lead to more economic growth and jobs.
'It's a significant benefit to the businesses, which is good,' Amell said."