1 John Hazod
Regional CFO, Wintrust Financial Corp.
“The Federal Reserve’s decision to lower interest rates by a half-percentage point should have a positive impact on the manufacturing industry. Lower interest rates directly benefit manufacturing companies by lowering interest payments on working capital lines of credit and reducing the cost of financing equipment purchases for growth or technology improvement.”
2 Dave Anderson
Head of U.S. commercial banking, Wisconsin region, BMO Harris Bank
“The manufacturing base in southeastern Wisconsin has been resilient, especially the past few years. As we talk to our clients, there clearly has been tremendous noise to make outlooks unpredictable. Many of our clients continue to make decisions consistent with their strategic plan, which includes significant capex spending and M&A, regardless of the rate environment. Lowering rates will help accelerate capex spending and M&A.”
3 Jim Popp
CEO, Johnson Financial Group
“The Fed’s decision to cut rates by 50 basis points provides relief to borrowers and may spur manufacturers to consider additional investment and/or expansion. However, interest rates are just one lever impacting manufacturing. There are many other factors impacting consumer and business sentiment, including a pretty big election in November.”
4 Brian Melter
Chief experience officer, Landmark Credit Union
“Cutting interest rates can lower borrowing costs, stimulating investment and expansion in southeastern Wisconsin’s manufacturing sector. This may boost production, encourage new projects, and increase customer and ultimately consumer demand, potentially leading to job growth and a stronger local economy.”
5 Heather Nelson
President and CEO, Spring Bank
“The decision for the Federal Reserve to cut interest rates will give manufactures the ability to make the needed investments in their businesses to better serve the needs of their customers. It will also give their customers more relief and confidence to move forward with purchases, as some were waiting on the sidelines for these cuts.”
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