July 28: Waiting and wondering (Virginia Business)

July 28, 2015

For more than six years, short-term interest rates have hovered near zero, but that could change soon. Federal Reserve Chair Janet Yellen reaffirmed in July the central bank’s plan to  start raising interest rates before the end of the year.

If and when that happens, G. William “Billy” Beale, CEO of Richmond-based Union Bankshares Corp., which operates Union Bank, will be thrilled. In anticipation of Fed action, Union has been...

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