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ECONOMIC INFORMATION <br />With measures of inflation remaining above their 2% target, the Federal Open Market Committee <br />(FOMC) maintained its policy, keeping interest rates in its target range of 5.25%-5.50% at its June <br />meeting. Economic data released after the end of the quarter has finally started to show signs of <br />inflation cooling, with the month -over -month consumer price index lowering 0.1% in June, bringing <br />the year -over -year figure to 3.0% compared with 3.3% in May. This was the slowest pace of inflation <br />since 2021. The unemployment rate, although still historically low, increased to 4.1% in June, up <br />from 3.9% in April and 4.0% in May. Although encouraging, this data was not enough to convince <br />the FOMC to lower rates at their July meeting. The FOMC continued to feel progress was being <br />made, but awaits future data and reports to convince them that the progress is sustainable. <br />INVESTMENT MATURITIES <br />As of June 30, 2024, the investments portfolio book value was $563,669,560 with a market value of <br />$564,680,015. Of the $563,669,560 portfolio total, investments are maturing as follows: <br />$400,000 <br />$350,000,000 <br />$300,000,000 <br />$250,000,000 <br />$200,000,000 <br />$150,000,000 <br />$100,000,000 <br />$50,000,000 <br />$0 <br />132 <br />