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- Interest Rates Remain Unchanged
Interest Rates Remain Unchanged
Good evening 🇺🇸,
What happened today,
As expected, the #FederalReserve left interest rates unchanged and shifted the balance of risks in favor of less labor market strength.
The focus now shifts to Chair Powell's press conference where he will be pressed on the likelihood of a September rate cut.
#economy… x.com/i/web/status/1…— Mohamed A. El-Erian (@elerianm)
6:06 PM • Jul 31, 2024
-The Federal Reserve announced interest rates will remain the same for now, in order to try and get inflation closer to 2%. Many suspect a rate cut will now come in September
-High ranking Hamas leader was killed in Iran
-Wages have grown more slowly in 2nd Quarter, signaling inflation may be cooling off
-Trump has hostile appearance at the National Association of Black Journalists’ conference.
-Trump says seniors should not have to pay taxes on social security
Quote of the day: "At the heart of western freedom and democracy is the belief that the individual man…is the touchstone of value, and all society, groups, the state, exist for his benefit. Therefore the enlargement of liberty for individual human beings must be the supreme goal and abiding practice of any western society." -Robert F. Kennedy
Have a great night!