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ECONOMIC INFORMATION <br />During both its January and March meetings, the Federal Open Market Committee (FOMC) left rates <br />unchanged, keeping rates to a target range of 4.25-4.50%. This decision was in response to data <br />showing "solid" growth in the economy and an unemployment rate "stabilizing" at a low level. <br />Inflation remained above their target of 2%. Expectations from economists were that the FOMC will <br />maintain interest rates in the near term, while monitoring the growth and labor markets. There are <br />uncertainties, however, surrounding the ultimate effect of tariffs and how those effects may impact <br />the FOMC's decisions on interest rates at future meetings in 2025. <br />INVESTMENT MATURITIES <br />As of March 31, 2025, the investments portfolio book value was $654,841,023 with a market value <br />of $658,044,676. Of the $654,841,023 portfolio total, investments are maturing as follows: <br />50,000,000 <br />$100,000,000 <br />$50,000,000 <br />$0 <br />13-24 Months <br />95 <br />