Not Unanimous
The Federal Reserve Board voted to leave the target range for the federal funds rate unchanged. However, in a noteworthy departure from the norm, the vote was not unanimous as two board members voted to lower rates. Fed Chair Jerome Powell described the disagreement within the board as healthy, and the decision by two members to dissent as “serious” and “nonpartisan.”
Note: Simply put, the federal funds rate is the rate at which commercial banks lend to each other on a daily basis to manage liquidity. The target range for this rate is set by the Fed and has a trickle-down effect on more common interest rates, such as mortgages and credit card debt.
Analysis and eternal perspective: More economic winds. You almost certainly have no control over what the Fed decides to do about interest rates. You do, however, have a great deal of responsibility to wisely steward the resources entrusted to you.
While we talk a great deal here at The Equipped about not being overly fixated on the temporal (see the last story as a prime example), God’s Word is also crystal clear about our mandate to be wise and faithful stewards of that to which we have been entrusted. You are to:
- Work diligently and prepare for economic adversity (Pr. 6:6-11).
- Faithfully apply your abilities and resources for an increased eternal return (Matt. 25:14-30).
- Live frugally and be generous (Pr. 21:20; 11:24-25).
There are countless reasons to embrace the biblical approach to finances, but this week consider this one: Precious little will cause the world to sit up and take notice more than a people who are unburdened and generous with what they have. My friend, if our shared mission is to spread the Gospel of Jesus Christ, there may be no better way to do it than by modeling an economic peace that comes from being sheltered under His principles of financial stewardship and generosity.
The following article originally appeared in Thann’s “The Equipped” Weekly Newsletter. For more information on Thann’s weekly email, click here.