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Portage County portfolio yields climb; committee hears Fed guidance and projections
Summary
Committee heard an investment update noting a roughly 1.0% decline in short‑term rates since Sept. 18 after a 25‑basis‑point Fed cut, a portfolio yield of 3.46%, $23.2 million in recent reinvestments and projected 12‑month interest income that could approach $6.2 million on the securities portion.
The Portage County Investment Advisory Committee received a portfolio update that framed recent Federal Reserve action and the county’s reinvestment strategy as central to near‑term budget projections. Eileen, the meeting presenter, said the Fed ‘‘has now moved, made that additional 25 basis point cut at, their meeting that, closed on yesterday,’’ and that the cumulative reduction since mid‑September amounts to about 1 percentage point.
That shift has real implications for the county’s investment income, presenters said. As of the end of…
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