There was a fair amount of data this week, but only one thing mattered: the Fed. Continued slowing inflation data and signs of a slowing economy took the Fed from a hawkish, we will keep rates higher-for-longer stance, to a much more dovish stance in the past meeting. The Fed’s projections have switched from higher rates indefinitely to an expected three rate cuts next year, which is a very big shift. More, Chair Powell’s commentary in the press conference acknowledged directly both the better inflation data and slower growth. Higher for longer may be dead—at least that’s what markets think.
News
Digesting the Fed: Rates Hold Steady, but Cuts to Come?
This week, the Federal Open Market Committee (FOMC) met and voted unanimously to hold rates steady for the third consecutive meeting, leaving its policy range at 5.25 percent to 5.5 percent. This decision comes as no surprise, with the futures markets indicating a near-zero percent chance of a rate increase in the days and weeks leading up to the meeting.
Economic Risk Factor Update: December 2023 [SlideShare]
The reports released in November showed continued economic growth. Hiring accelerated, as 199,000 jobs were added in November against 150,000 jobs in October. Service sector and consumer confidence also improved modestly, but both indicators remained in yellow territory. The yield curve inversion deepened during the month, leaving that indicator red.
Economic Release Snapshot: Hiring Accelerates in November
Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.
What Mattered This Week? U.S. Economy Chugging Along
It was another good week for the economy, while there wasn’t a lot of news on the market front. Let’s take a closer look.
Looking Back at the Markets in November and Ahead to December 2023
Markets improved last month across the board as interest rates pulled back on signs of slowing growth. U.S. markets were up by high-single to low-double digits, while international markets were also up by high-single digits. Even fixed income posted gains of around 5 percent. For the first time in a while, everything went up.
Client Relationship Specialist
Ashley has been working in the customer service field since she started her first job at age 16. For the past ten years she worked in an office setting handling accounts payable and receivable as well as some receptionist work. She is very excited to learn more about the investment field.
Client Relationship Specialist II
Wealth Advisor
Vice President of Operations and Integrator
Wealth Advisor
Senior Client Relationship Specialist
Senior Wealth Advisor
Wealth Advisor | Director of Business Development
Senior Wealth Advisor
Senior Wealth Advisor