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Fed keeps rates unchanged {Market Report} August 3rd

Fed keeps rates unchanged {Market Report} August 3rd
August 6, 2018 abryant

 

 

 

I used to think I was indecisive, but now I’m not too sure.

It’s not what you look at that matters, it’s what you see.

Friendship is born at that moment when one person says to another, “What! You too? I thought I was the only one.”

The best measure of honesty isn’t your income tax return. It’s the zero adjust on your bathroom scale.

A babysitter is a teenager acting like an adult while the adults are out acting like teenagers.

 

Now The Market Report . . .

 

The Fed elected to leave policy rates unchanged at this month’s meeting, as was expected. Markets have already priced in 2 more rate hikes this year though.

Consumer spending increased solidly in June, helping drive the economy. Inflation also rose moderately, which could pressure rates higher in the future.

Although the labor market continues to show strength, the construction industry is struggling with labor shortages. Young job seekers just don’t seem interested.

 

Home prices were up 6.4% for the year in May, supported by low rates and tight inventory. The pace of price increases is showing signs of slowing.

Pending home sales were down in June from the previous year as inventory continues to be an issue. However, sales were up 0.9% compared to May.

Construction spending recorded its biggest drop in more than a year in June. Homebuilding has been slowing due to rising material costs and labor shortages.

 

Anyone hiring? I had to quit my job as a can crusher… it was just soda pressing.

 

This week’s potential market moving reports are:

 

Monday, August 6th:          Survey of Consumer Expectations

Tuesday, August 7th:         Job Openings, Consumer Credit

Wednesday, August 8th:    No Reports

Thursday, August 9th:        First Time Jobless Claims, Producer Price Index

Friday, August 10th:           Consumer Price Index

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