Strong Economy, Development Attracts New Capital to Milwaukee
The end of the second quarter marked the start of the 11th year of the expansion cycle, officially making it the longest in U.S. history. Unemployment and interest rates remain near historic lows and GDP growth surpassed 3% in Q1 of 2019. GDP growth dropped to 2.1% in Q2, but that still exceeded initial expectations. To combat the uncertainty of trade wars and declining global growth, the Federal Reserve cut the fed funds rate by 25 basis points for the first time in more than a decade during their July session.