| Our PureVest Weekly Roundup looked at Jerome Powell’s closely followed remarks from Jackson Hole. His comment, “The time has come for policy to adjust,” stood out. The Federal Reserve’s next 2-day meeting starts September 18. Non-farm payrolls got the most significant downward revision this week since 2009. Once a year, the Bureau of Labor Statistics makes revisions to the last 12 months of jobs reports. The last 10 years have seen 5 upward revisions and 5 downward revisions. The 12-month average dropped to 174,00 from just over 240,000. New home sales jumped 10% from July. We also looked at how the results of November’s Presidential election may impact your taxes. Lowe’s reported strong sales from contractors but lowered their outlook for 2024 as the company anticipates DIY projects to be sluggish. Enjoy the light reading, and have a great weekend! |
| Markets & Economy: Fed Chair Powell indicates interest rate cuts ahead: ‘The time has come for policy to adjust’ source:www.cnbc.com US job market gets biggest markdown since 2009 with 818K fewer jobs than previously reported source:www.nypost.com US new home sales rise to highest level in more than a year source:www.reuters.com Federal Reserve Meeting Minutes Show Increasing Support for Interest Rate Cuts source:www.investopedia.com Trump vs. Harris: Here’s how the election could affect your taxes source:www.cnbc.com Lowe’s sees sales drop, cuts 2024 outlook as consumers put off home improvement projects source:www.cnbc.com |