Weekly Digest – August 07 2024
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Mortgage rates tumble to lowest since April 2023 after weak jobs report
Mortgage rates tumbled on Friday to their lowest since April 2023 after a weak jobs report sent bond yields sharply lower and boosted Wall Street’s expectations for an interest rate cut from the Federal Reserve at its September meeting.
Apple investors urged to stay calm after Buffett slashes stake
To some, Berkshire Hathaway Inc.’s gutting of its Apple Inc. stake could be interpreted as a lack of conviction in the iPhone maker’s growth story. But many on Wall Street are urging investors to look past the news and stay calm.
Federal Reserve issues FOMC statement
The Federal Reserve has issued its most recent FOMC statement. Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have moderated, and the unemployment rate has moved up but remains low. Inflation has eased over the past year but remains somewhat elevated. In recent months, there has been some further progress toward the Committee’s 2 percent inflation objective.
Why we must grow the economy by at least 3% — and how to do it
The U.S. Chamber is calling on candidates and elected officials to secure a better life for Americans by supporting policies that would lead to economic growth 50% above current projections over the next decade.
Economic numbers are full of contradictions
Tatiana Bailey, executive director of the nonprofit Data-Driven Economic Strategies discusses the contradictory nature of current economic indicators. While some data points to a strong economy with low unemployment, other metrics suggest an impending recession due to factors like inflation and global uncertainties, making it challenging to predict the economic future accurately.
Four reasons to take a breath after the U.S. jobs report
The disappointing U.S. employment report for July unleashed a “Freakout Friday” moment in financial markets and triggered a wholesale resetting of expectations for how much the Federal Reserve might cut interest rates next month. Here are four reasons to take a breath and accept that the report may not signal the end is near.
U.S. unemployment rate ticks up to 4.3% amid signs of broader economic slowdown
The U.S. unemployment rate rose to 4.3% in July and hiring slowed, adding to signs of a broader downturn in what has been a solid U.S. economy.
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