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Will the Fed Drop Rates? Market Update 7/29/2024
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Hey everyone, it's Larry Bailey. This is for the Week of July 22, 2024 in Review
The Fed’s preferred inflation measure, annual Core PCE, remained at a three-year low while home sales were subdued in June. Plus, economic growth in the second quarter surprised to the upside. Here are last week’s headlines:
- Inflation Readings Keep Fed on Track for September Rate Cut
- Existing Home Sales Decline, Inventory Ticks Higher
- New Home Sales Hit 7-Month Low
- Second Quarter GDP Stronger Than Forecasted
- Jobless Claims Improve but Remain Elevated
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