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Fed Leaves Rates Unchanged in March 19th Meeting

Posted on March 19, 2025 by Chris Lehnes

Fed Leaves Rates Unchanged in March 19th Meeting

In its March 19, 2025, meeting, the Federal Reserve announced that it would maintain the federal funds rate within the target range of 4.25% to 4.5%, marking the second consecutive meeting without a rate adjustment. This decision reflects the central bank’s cautious approach amid persistent economic uncertainties and evolving inflation dynamics.

Fed Leaves Rates Unchanged. Federal Reserve announced that it would maintain the federal funds rate within the target range of 4.25% to 4.5%, marking the second consecutive meeting without a rate adjustment. This decision reflects the central bank's cautious approach amid persistent economic uncertainties and evolving inflation dynamics.

Economic Context and Inflation Outlook

Recent data indicates that inflation has moderated, with the consumer price index rising at a more controlled pace, approaching the Fed’s 2% target. However, the central bank has revised its inflation forecast upward for the year, signaling ongoing concerns about price stability. Despite signs of improvement, inflationary pressures remain a focal point in policy deliberations.

Impact of Trade Policies and Tariffs

The economic landscape is further complicated by trade tensions and tariff policies, which have introduced volatility, affecting both growth prospects and inflation expectations. The Fed acknowledges that such policies contribute to heightened uncertainty, influencing its decision to hold rates steady while assessing their long-term impact on the economy. Fed Leaves Rates Unchanged

Labor Market and Employment Trends

Despite these challenges, the labor market remains resilient. Hiring continues at a steady pace, with the unemployment rate holding stable. Wage growth has been sustainable, outpacing inflation and contributing to consumer spending. The Fed’s decision to maintain current rates aims to support this employment stability while monitoring potential inflationary pressures.

Future Monetary Policy Projections

Looking ahead, Federal Reserve policymakers anticipate implementing two quarter-point rate cuts by the end of the year, contingent upon economic developments. This projection underscores the Fed’s commitment to flexibility in its monetary policy, allowing for adjustments in response to evolving economic indicators.

Conclusion

The Federal Reserve’s decision to leave interest rates unchanged reflects a measured approach to navigating current economic uncertainties. By closely monitoring inflation trends, trade policy impacts, and labor market conditions, the central bank aims to fulfill its dual mandate of promoting maximum employment and ensuring price stability. As the year progresses, the Fed’s policy decisions will continue to be data-dependent, adapting to the shifting economic landscape.

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Retail Sales Rise Slightly in February 2025

Posted on March 18, 2025 by Chris Lehnes

Retail Sales Rise Slightly in February 2025

Retail sales in the United States saw a modest increase in February, signaling continued consumer resilience despite ongoing economic pressures. According to the latest data released by the U.S. Census Bureau, retail sales edged up by 0.3% from the previous month, following a slight decline in January.

Key Drivers of Growth The rise in retail sales was fueled primarily by increased consumer spending on essentials such as groceries, health products, and gasoline. Additionally, online retailers reported a steady uptick in sales, reflecting the sustained shift toward e-commerce. However, discretionary spending on items such as electronics, furniture, and apparel remained relatively flat, indicating cautious consumer behavior amid inflation concerns.

Sector-Specific Performance

Grocery Stores and Supermarkets: Sales at food and beverage retailers continued to climb as consumers prioritized household necessities.
Gasoline Stations: Rising fuel prices contributed to higher sales at gas stations, despite concerns over energy costs.
E-commerce: Online shopping remained strong, with digital platforms benefiting from ongoing convenience-driven purchases.
Department Stores and Apparel Retailers: Traditional brick-and-mortar retailers faced stagnation, with some segments experiencing slight declines in foot traffic.

Consumer Sentiment and Economic Outlook Despite the slight increase in retail sales,
consumer sentiment remains mixed. Persistent inflation, higher interest rates, and economic uncertainty continue to influence spending habits. Analysts suggest that while the labor market remains strong, potential slowdowns in wage growth and employment trends could impact future retail performance.

Looking ahead, retailers are cautiously optimistic as they prepare for seasonal spending shifts, including spring promotions and mid-year sales events. However, they remain mindful of external economic factors that could influence consumer confidence in the coming months.

Overall, the modest rise in February’s retail sales reflects a steady but cautious consumer market, with spending trends closely tied to broader economic conditions.

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Trump Tariffs: Expect Cost Increases On These Items

Posted on February 3, 2025 by Chris Lehnes

Trump Tariffs: Expect Cost Increases On These Items

As trade tensions escalate, Trump’s tariffs have taken center stage in discussions about their impact on consumer prices. Tariffs, essentially taxes on imported goods, increase costs for businesses that rely on foreign products and materials. These costs are often passed down to consumers, making everyday items more expensive. Here’s how tariffs will affect the prices of cherry tomatoes, Tonka trucks, avocados, maple syrup, tequila, and smartphones.

Cherry Tomatoes: A Pricier Staple for Salads

The United States imports a significant portion of its cherry tomatoes from Mexico, particularly during the winter months. A tariff on Mexican produce means grocery stores will pay more for imports, leading to higher prices for consumers. In an industry where margins are tight, retailers will have little choice but to pass along the increased costs.

Tonka Trucks: Tariffs on Toy Manufacturing

Classic American toys like Tonka trucks are often manufactured using imported materials, particularly metals from China. Tariffs on these raw materials drive up production costs, leading to higher retail prices. Parents shopping for holiday gifts could see a noticeable increase in toy prices due to these trade policies.

Avocados: A Costly Breakfast Addition with tariffs

Avocados have become a dietary staple for many Americans, but they are largely imported from Mexico. Tariffs on Mexican goods will directly affect the cost of avocados, making guacamole and avocado toast a more expensive indulgence. Given the already volatile pricing of avocados due to supply fluctuations, additional tariffs will only exacerbate cost concerns for consumers.

Maple Syrup: A Blow to Breakfast Budgets Due to tariffs

Although the U.S. produces a fair amount of maple syrup, a significant quantity is imported from Canada. Tariffs on Canadian agricultural products will make syrup more expensive, increasing costs for consumers who enjoy this breakfast staple. The impact could also hurt businesses that rely on maple syrup as a key ingredient.

Tequila: Higher Costs for a Popular Beverage

Tequila, a product exclusively made in Mexico, is another item set to become more expensive under tariffs. As demand for tequila-based cocktails like margaritas continues to rise, tariffs will increase the cost of importing tequila, leading to higher prices at liquor stores and bars. Consumers and hospitality businesses alike will feel the financial strain.

Smartphones: The Tech Industry Faces Higher Costs

Smartphones, including popular models like Apple’s iPhone and Samsung’s Galaxy series, rely on components sourced globally. Tariffs on Chinese electronics and components will increase production costs, which companies will likely pass on to consumers. Given the essential nature of smartphones in everyday life, these price hikes could have widespread financial implications.

Consumers Will Bear the Burden

While tariffs are intended to promote domestic production and protect American industries, they often lead to higher consumer prices. As businesses face increased import costs, those costs will inevitably trickle down to shoppers. From food and beverages to toys and technology, many everyday items will see price increases, affecting household budgets across the country.

Understanding the real-world impact is crucial, as consumers and businesses alike prepare for the economic consequences of these trade policies.

Contact Factoring Specialist, Chris Lehnes to learn if factoring can provide your client the working capital needed to survive this trade war.

US GDP Grew 2.5% in 2024: Resilience Amid Uncertainty

Posted on January 30, 2025 by Chris Lehnes

US GDP Grew 2.5% in 2024: Resilience Amid Uncertainty

The U.S. economy demonstrated robust growth in 2024, with gross domestic product (GDP) expanding by 2.5%, according to the latest government data. Despite global economic uncertainty, fluctuating interest rates, and shifting labor market dynamics, the economy managed to sustain moderate yet steady growth throughout the year.

Key Drivers of Growth

Several factors contributed to the 2.5% expansion in GDP. Consumer spending remained a key driver, buoyed by a resilient job market and rising wages. Although inflationary pressures persisted, cooling price increases allowed households to maintain purchasing power. The services sector, particularly travel, hospitality, and healthcare, experienced strong demand, further supporting economic activity.

Business investment also played a role in GDP expansion. Companies continued to allocate capital towards technology, automation, and supply chain enhancements, strengthening productivity and long-term growth prospects. Meanwhile, federal spending, particularly in infrastructure and clean energy projects, added further momentum to economic expansion.

Challenges and Headwinds

While the economy posted solid growth, it was not without challenges. Higher borrowing costs, resulting from the Federal Reserve’s restrictive monetary policies, weighed on sectors sensitive to interest rates, such as housing and commercial real estate. Additionally, global supply chain disruptions and geopolitical tensions created volatility in trade and commodity markets.

Labor shortages in certain industries also posed constraints, leading businesses to invest more in workforce training and automation to mitigate hiring difficulties. The labor force participation rate remained stable, but demographic shifts and evolving workforce trends continued to shape labor market dynamics.

Outlook for 2025

Looking ahead, economists remain cautiously optimistic about 2025. While growth is expected to moderate slightly, ongoing investments in infrastructure, innovation, and clean energy could provide long-term benefits. The Federal Reserve’s policy stance will be closely watched, as any shifts in interest rates could impact consumer spending and business investment.

Overall, the 2.5% GDP growth in 2024 underscores the resilience of the U.S. economy. Despite global and domestic challenges, strong consumer demand, business investment, and strategic federal policies have supported expansion, setting the stage for continued economic stability in the years ahead.

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Fed Doesn’t Make a Move

Posted on January 29, 2025 by Chris Lehnes

Fed Doesn’t Make a Move – Rates remain Unchanged

On January 29, 2025, the Federal Reserve announced its decision to maintain the federal funds rate within the 4.25% to 4.50% range, citing ongoing solid economic activity, stable low unemployment, and persistently elevated inflation.

federalreserve.gov

Economic Implications:

Banking Sector: Moody’s analysts suggest that holding interest rates steady allows banks to better align deposit pricing with declining loan yields, thereby supporting net interest income. marketwatch.com
Inflation Control: The Fed’s decision reflects its cautious approach to managing inflation, which remains above the 2% target. Maintaining current rates aims to prevent exacerbating inflationary pressures. ft.com
Market Reactions: Investors are closely monitoring the Fed’s stance, with major indices experiencing gains ahead of the announcement. The decision to keep rates unchanged provides markets with a degree of stability amid economic uncertainties. investors.com

Political Context: Fed Doesn’t Make a Move

President Donald Trump has advocated for significant rate cuts to stimulate economic growth. However, the Fed’s decision to hold rates steady underscores its commitment to data-driven policy and maintaining independence from political pressures.

ft.com

Future Outlook:

The Federal Reserve emphasized that future rate decisions will be informed by incoming economic data and the evolving economic outlook. Factors such as inflation trends, labor market conditions, and the impact of new fiscal policies will play crucial roles in shaping monetary policy moving forward.

federalreserve.gov

For a more in-depth understanding, you can watch Federal Reserve Chair Jerome Powell’s press conference discussing the decision:

federalreserve.gov

Economic Implications: Fed Doesn’t Make a Move

Banking Sector: Moody’s analysts suggest that holding interest rates steady allows banks to better align deposit pricing with declining loan yields, thereby supporting net interest income. marketwatch.com
Inflation Control: The Fed’s decision reflects its cautious approach to managing inflation, which remains above the 2% target. Maintaining current rates aims to prevent exacerbating inflationary pressures. ft.com
Market Reactions: Investors are closely monitoring the Fed’s stance, with major indices experiencing gains ahead of the announcement. The decision to keep rates unchanged provides markets with a degree of stability amid economic uncertainties. investors.com

Political Context:

ft.com

Future Outlook:

federalreserve.gov

For a more in-depth understanding, you can watch Federal Reserve Chair Jerome Powell’s press conference discussing the decision:

Contact Factoring Specialist, Chris Lehnes

Impact of Tariffs on Imports from Colombia on US Economy

Posted on January 27, 2025 by Chris Lehnes

In recent years, tariffs have become a key tool in the United States’ trade policy. When applied to imports, tariffs serve as taxes levied on goods entering the country, typically aimed at protecting domestic industries or responding to trade imbalances. However, the imposition of tariffs on imports from Colombia, a significant trading partner of the U.S., has the potential to ripple through both economies. Here, we explore the potential impacts on the U.S. economy, considering the key sectors involved, consumers, and the broader economic implications.

Impact of Tariffs on Imports from Colombia on US Economy

1. Key Sectors Affected

Colombia is a major exporter of agricultural products, energy resources, and textiles to the United States. Tariffs on these goods could have the following sectoral effects:

Agriculture: The U.S. imports a significant amount of coffee, bananas, and flowers from Colombia. Tariffs on these goods could increase prices for American importers, disrupt supply chains, and potentially incentivize a shift toward alternative sources or domestic production.
Energy Resources: Colombia is a prominent exporter of oil and coal. Tariffs in this sector could lead to higher energy prices in the U.S., especially in industries heavily reliant on these resources.
Textiles and Apparel: Tariffs on Colombian textiles might increase costs for U.S. retailers and manufacturers, potentially driving up prices for consumers.

2. Impact on U.S. Consumers

Tariffs tend to raise the cost of imported goods, which can result in higher prices for consumers. For example:

Rising Costs: American households could face higher prices for everyday goods such as coffee and clothing, which are staples in many households.
Reduced Choices: As tariffs make Colombian products less competitive, businesses may limit imports, leading to fewer options for consumers.

These factors could dampen consumer spending, which is a critical driver of the U.S. economy.

3. Effects on U.S. Businesses

Import-Dependent Industries: Companies relying on Colombian imports could face higher costs, pressuring their profit margins. For instance, flower retailers might see increased costs during peak seasons like Valentine’s Day and Mother’s Day.
Retaliatory Tariffs: Colombia may respond with tariffs on U.S. exports, affecting American industries such as agriculture (e.g., corn and wheat) and machinery. Retaliatory measures could harm U.S. exporters’ competitiveness in the Colombian market.

4. Macroeconomic Implications

On a broader scale, taxes can have mixed effects on the U.S. economy:

Inflationary Pressures: Higher prices on imported goods can contribute to inflation, eroding purchasing power and complicating monetary policy.
Trade Deficits: While tariffs aim to reduce trade deficits, they may lead to reduced trade volumes overall, disrupting economic relationships and supply chains.
Job Creation vs. Losses: While taxes may protect certain domestic industries and jobs, they can lead to job losses in industries dependent on trade with Colombia.

5. Geopolitical and Strategic Considerations

Colombia is a strategic ally of the United States in Latin America, and trade policies play a role in strengthening bilateral relations. The imposition of tariffs could strain this relationship, potentially affecting cooperation on issues like security, drug trafficking, and regional stability.

Tax on imports from Colombia could have wide-ranging implications for the U.S. economy, affecting key sectors, consumers, and businesses. While such measures may aim to protect domestic industries, the potential downsides—from higher consumer prices to strained international relations—underscore the need for careful consideration. Policymakers must weigh these impacts to ensure that trade policies align with broader economic and strategic objectives.

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Mortgage Rates 7% – What’s the impact on the greater economy?

Posted on January 17, 2025 by Chris Lehnes

Mortgage Rates Surpass 7% – What’s the impact on the greater economy?

The mortgage market reached a pivotal moment recently, with the average 30-year fixed mortgage rate surpassing 7% for the first time in over two decades. This development has profound implications for both the housing market and the broader economy, as it signals a shift in affordability, consumer behavior, and economic momentum.

A Shock to Affordability

Rising mortgage rates have significantly increased the cost of borrowing for prospective homebuyers. For context, a 1% increase in mortgage rates can add hundreds of dollars to a monthly payment, depending on the loan amount. For example, a $400,000 loan at a 6% interest rate would incur a monthly principal and interest payment of approximately $2,398. With a 7% rate, that figure jumps to $2,661—a difference of $263 per month, or over $3,100 annually.

This dramatic rise has effectively priced many buyers out of the market, particularly first-time homeowners who often lack substantial savings for larger down payments. The result is a cooling of demand, evidenced by declining home sales and growing inventories in many regions.

Effects on the Housing Market

The housing market, a bellwether for economic health, is showing clear signs of stress. Home prices, which surged during the pandemic due to low rates and high demand, are beginning to plateau or even decline in some areas. Sellers are increasingly offering concessions, such as closing cost assistance, to entice hesitant buyers.

However, the impact varies by region. In high-demand urban areas, prices remain relatively stable due to supply constraints. Conversely, in markets where inventory is more abundant, prices have softened as sellers compete for a shrinking pool of buyers.

Additionally, the rental market has become a pressure valve for displaced would-be homeowners. Higher mortgage rates have forced many to remain renters longer, driving up rental demand and prices, particularly in urban centers.

Broader Economic Implications

The implications of rising mortgage rates extend beyond housing. Residential construction, a significant driver of economic activity, has slowed. Builders face reduced demand for new homes, leading to fewer housing starts and layoffs in construction-related industries. Supply chain disruptions and inflationary pressures further compound these challenges.

Consumer spending—a critical engine of the U.S. economy—is also affected. Home purchases often lead to significant ancillary spending, from furniture and appliances to renovations. A slowdown in homebuying can dampen these related industries, creating a ripple effect through the economy.

The Role of the Federal Reserve

The Federal Reserve’s efforts to combat inflation have been a key driver of rising mortgage rates. By increasing the federal funds rate and signaling further tightening, the Fed has indirectly influenced the bond market, pushing yields higher and, in turn, raising mortgage rates. While these measures aim to curb inflation, they also risk dampening economic growth.

What Lies Ahead

Looking forward, the trajectory of mortgage rates will largely depend on inflation trends and the Federal Reserve’s monetary policy. If inflation begins to moderate, there may be room for rates to stabilize or even decline. However, continued economic uncertainty and geopolitical tensions could sustain upward pressure on borrowing costs.

For prospective buyers, the current environment underscores the importance of financial preparedness and adaptability. Locking in rates, considering adjustable-rate mortgages, or exploring down payment assistance programs are strategies that can help navigate this challenging landscape.

Conclusion

The surpassing of the 7% threshold for mortgage rates marks a turning point for the housing market and the economy at large. While challenges abound, they also present opportunities for recalibration and innovation within the real estate sector. Policymakers, businesses, and consumers alike must adapt to this evolving financial landscape, ensuring resilience in the face of changing economic conditions.

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Core Inflation Slowed to 3.2% in December

Posted on January 15, 2025 by Chris Lehnes

Core Inflation Slowed to 3.2% in December: Impacts and Repercussions

The U.S. economy witnessed a notable deceleration in core inflation in December, with the year-over-year rate dropping to 3.2%. This development marks a continued easing from the peak levels seen in 2022 and offers insight into the economic landscape as policymakers and consumers adapt to evolving conditions.

Understanding Core Inflation

Core inflation, which excludes volatile food and energy prices, is a critical measure for policymakers. Unlike headline inflation, it provides a clearer view of underlying price trends by eliminating short-term fluctuations. December’s figure reflects sustained progress in curbing price pressures, aided by various factors including tighter monetary policy and improving supply chain conditions.

Key Drivers of the Slowdown

Monetary Policy Measures: The Federal Reserve’s series of interest rate hikes have played a significant role in cooling demand. Higher borrowing costs have curbed consumer spending and investment, aligning with the Fed’s objective of stabilizing inflation.
Easing Supply Chain Bottlenecks: Improved global supply chain dynamics have helped lower production costs and increased the availability of goods. This has contributed to reduced upward pressure on prices.
Labor Market Adjustments: While the labor market remains strong, wage growth has moderated slightly. Slower wage increases can help mitigate inflationary pressures in the services sector.

Impacts on the Economy

Consumer Purchasing Power: Slower inflation benefits consumers by preserving purchasing power, especially for households that struggled during periods of high inflation.
Business Outlook: Reduced inflationary pressures lower input costs for businesses, potentially leading to improved profit margins or opportunities to pass savings on to consumers.
Policy Implications: The Federal Reserve may reassess its approach to further rate hikes. A sustained decline in inflation could pave the way for a pause or even a shift in monetary policy in the coming months.

Repercussions for Financial Markets

Financial markets have responded positively to the news, with equity indices rising and bond yields stabilizing. Investors anticipate that a slowing inflation trend may reduce the likelihood of aggressive monetary tightening, fostering a more favorable investment environment.

Risks and Uncertainties

Despite the encouraging trend, challenges remain. Core inflation is still above the Federal Reserve’s long-term target of 2%, and external factors, such as geopolitical tensions and energy price volatility, could reintroduce inflationary pressures. Additionally, the risk of a recession looms as tighter monetary policies continue to weigh on economic activity.

Looking Ahead

The deceleration in core inflation is a promising sign for economic stability. However, sustained efforts will be necessary to ensure that inflation continues its downward trajectory without triggering significant economic disruptions. Policymakers, businesses, and consumers alike must remain vigilant as the economy navigates this transitional phase.

GDP Rose 3.1% in Q3, Signaling Continued Economic Growth

Posted on December 20, 2024 by Chris Lehnes

GDP Rose 3.1% in Q3, Signaling Continued Economic Growth

The U.S. economy expanded at an annual rate of 3.1% in the third quarter (Q3), according to the latest data released by the Department of Commerce. This figure highlights steady economic growth driven by strong consumer spending, robust business investment, and an uptick in exports. GDP Rose 3.1% in Q3

The growth rate exceeded analysts’ expectations, which had forecasted a moderate increase following the 2.1% rise in Q2. The Q3 expansion reflects resilience in key economic sectors despite challenges like higher interest rates and persistent inflation concerns.

Key Drivers of Growth:

Consumer Spending:
Consumer expenditures, which account for approximately 70% of GDP, remained strong, particularly in services such as travel, dining, and healthcare.
Business Investment:
Investments in equipment, technology, and infrastructure showed noticeable improvement, supporting productivity and corporate expansion.
Exports:
A surge in exports contributed positively to the GDP, driven by increased global demand for American goods, including energy and industrial products. GDP Rose 3.1% in Q3

Challenges Ahead:

While the Q3 GDP growth is encouraging, economists warn of potential headwinds in the coming months, such as:

High Interest Rates: The Federal Reserve’s ongoing efforts to combat inflation may slow consumer and business borrowing.
Inflation: Though inflation rates have eased, elevated prices still impact household budgets.
Global Uncertainty: Geopolitical tensions and supply chain disruptions continue to pose risks to economic stability.

Outlook:

Despite these challenges, the latest GDP figures suggest that the U.S. economy remains on a growth trajectory. Policymakers and analysts will closely monitor Q4 data to determine whether this momentum can be sustained into the new year.

Contact Factoring Specialist, Chris Lehnes

Inflation hits 2.7% Amid Stubborn Price Pressures

Posted on December 11, 2024 by Chris Lehnes

The U.S. inflation rate has climbed to 2.7%, marking a slight uptick after months of gradual declines. The increase in the Consumer Price Index (CPI) signals persistent challenges in taming it, which remains above the Federal Reserve’s target of 2%. The latest data indicates that while progress has been made, some key areas continue to exert upward pressure on prices.

Inflation hits 2.7% Amid Stubborn Price Pressures

Factors Driving Inflation

The recent rise to 2.7% comes after the inflation rate held at 2.6% in previous months. Contributing factors include:

Shelter Costs: Housing-related prices remain elevated, with shelter costs increasing by 4.9% year-over-year. Shelter accounts for a significant portion of the overall CPI, making it a critical driver of inflation.
Energy Prices: Although energy prices had been declining earlier in the year, the recent report shows a slower decline. Gasoline prices, for example, fell by 12.2%, compared to a sharper 15.3% drop in prior months.
Core Services: Prices for core services, excluding food and energy, remain sticky. Transportation and medical services costs continue to rise, keeping core inflation at 3.3%.
Food Prices: The rate for food showed some moderation, easing to 2.1% from 2.3%. However, certain grocery staples continue to see price increases.

Federal Reserve’s Challenge

The Federal Reserve’s goal is to achieve a 2% rate, using the Personal Consumption Expenditures (PCE) deflator as its preferred measure. The PCE typically runs lower than the CPI, but with current CPI inflation at 2.7%, the Fed faces a delicate balancing act. While the central bank has paused interest rate hikes in recent months, a sustained increase in inflation may force policymakers to reconsider their stance.

Fed Chair Jerome Powell has indicated that the path to 2% inflation could be bumpy, especially with stubborn pressures in services and housing sectors. The upcoming Fed policy meeting will be closely watched to see if this latest inflation data influences any shift in interest rate policies.

inflation Outlook for Consumers

For American consumers, this inflationary environment means that the cost of living remains elevated, particularly in essential areas like housing, transportation, and healthcare. While wage growth has helped offset some inflationary pressures, purchasing power continues to be strained for many households.

Conclusion

As U.S. inflation hits 2.7%, the challenge of fully containing inflation persists. Whether this trend continues or moderates will depend on several factors, including energy markets, supply chain stability, and the housing sector. The Federal Reserve’s response in the coming months will be crucial in determining the trajectory and economic stability.

Contact Factoring Specialist, Chris Lehnes