07/06/2005

Fed Hikes Rates 1/4%

Hello:

Last week the Fed increased short term interest rates by 1/4%. This may effect people with adjustable rate mortgages as well as others. Consumer sentiment reports last week indicate that the U. S. Consumer might be getting accustomed to $2 for a gallon of gasoline. T. Boone Pickens, controversial Texas oil investor, said that he would not be surprised if we saw $3 per gallon within the next year.

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Terri G. Millson, CIMC President

Ray Dicius, CSA, GEPC LPL Branch Manager