Today’s News Synopsis:
Federal Reserve Chair Jerome Powell signaled the possibility today when he said that if the data keeps looking good the central bank “could” lower interest rates when it next meets Sept. 17-18.
In The News:
Bloomberg – “Powell Opens Door to Possibility of a Pre-Election Rate Cut“ (08-01-24)
“Powell couched it in terms of “the totality of the data, the evolving outlook and the balance of risks.” But in simple terms, he said that means if inflation continues to head down to the Fed’s 2% target, without any nasty upside surprises, then the road is clear.”
CNN – “Key takeaways from the latest Fed meeting‘“ (07-31-2024)
“The Federal Reserve gave an important clue Wednesday that it will likely cut its benchmark lending rate in the coming months.”
Yahoo Finance – “The US national debt just surpassed another milestone: $35 trillion” (07-31-24)
“The US national debt topped a psychologically important milestone of $35 trillion in recent days and has risen by $1 trillion since January — mounting by nearly $5 billion every day so far in 2025.”
Redfin – “Homebuyers Aren’t Yet Reacting to Lower Mortgage Rates, With Pending Sales Posting Biggest Year-Over-Year Decline in 9 Months” (08-01-2023)
“Monthly housing payments have dropped to their lowest level in four months, but homebuyers and sellers aren’t yet reacting. In addition to pending home sales falling, new listings posted their smallest increase in three months. .”
Financial Times – “Kamalanomics: Harris’s economic vision for America’s middle class” (07-28-2024)
“During her first week on the campaign trail, Kamala Harris wasted no time in laying out her economic vision for America’s middle class if she beats Republican rival Donald Trump in November’s US election.”
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