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If you are among the many business owners lulled into cheap and low-cost access to capital, you may have been caught off guard as low-cost floating-rate debt suddenly tripled in price last fall. In what is generally recognized as a pivot, the Federal Reserve exercised its ability to raise interest rates to cool down the economy. As a result, you will want to consider what this means in terms of financing your business.
What was the pivot?
In August 2023, in response to a widespread and persistent inflationary shock, the U.S. Federal Reserve began one of the steepest rate increases in history.
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