Interest Rate Cuts Incoming!

August 23, 2024

Good Evening đŸ‡ºđŸ‡¸,

What Happened Today,

Fed Chair Powell indicates interest rate cuts ahead: 'The time has come for policy to adjust'

Powell laid the groundwork for interest rate cuts ahead, though he declined to provide exact indications on timing or extent.

www.cnbc.com/2024/08/23/fed-chair-powell-indicates-interest-rate-cuts-ahead-the-time-has-come-for-policy-to-adjust.html

  • The Federal Reserve Chairman, Jerome Powell, announced there will be policy adjustment and sets stage for September interest rate cut

  • Stock Market rallies off news of rate cuts, DOW up 462.30 points/ S&P up 63.97 points

  • RFK jr. officially withdraws from the presidential election, endorses Trump

  • India’s PM, Modi, visits Ukraine and tells Zelensky he is ready to work to bring peace deal

  • The U.S. gov. sues RealPage, a real estate software, claiming they allow landlords to coordinate in hiking rents

Plus: An awesome graph on the magic of free market capitalism!

Quote of the day: "We must face the fact that the United States is neither omnipotent or omniscient…that we cannot right every wrong or reverse each adversity - and that therefore there cannot be an American solution to every world problem." - John F. Kennedy

Have a great weekend!