County earns $1.5M in interest during Q2

By Michael Williamson, Richwood Gazette

Union County’s interest income was up again in the second quarter of 2024 but those numbers could cool next year.

“Let’s put it this way, we will make less interest next year than we made this year because the interest rate environment will be lower than it was this year – assuming the same level of cash and investments on hand,” said Treasurer Andrew Smarra during the county’s quarterly investment advisory committee report last week.

Smarra said he expects the Federal Reserve to adjust interest rates next month following disappointing jobs numbers in July.

“They feel they have the window of opportunity to start pulling bac…

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