Market Minutes Recap - Market Update (Perspectives on retail sales, the FOMC recap, and the equities market)
Manage episode 440924099 series 2815319
In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on the latest market and economic activity. Our panel shares detailed insights into the retail sales, the FOMC recap, and the equities market.
Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
Cindy Honcharenko, Director of Fixed Income
Rajeev Sharma, Head of Fixed Income
Connor Cloetingh, Senior Equity Analyst
01:51 – The preliminary retail sales report for August showed a significant decline from 1.1% in July to 0.1% in August
03:56 – The Federal Open Market Committee (FOMC) met Wednesday and moved forward with an unexpected interest rate cut of 50 basis points
11:17 – Additional comments on the FOMC meeting and what can be expected for the remainder of the year; The Fed plans to shift its focus from inflation to the labor market; in addition, the market is expecting an additional 75 basis points to be cut by the end of the year, which differs slightly from the Fed’s estimate of 50 basis points
14:27 – Remarks on why the Fed chose to cut rates by 50 basis points instead of starting with a 25 basis point rate cut
18:56 – Comments on the equity market and its performance since Wednesday’s FOMC meeting
Additional Resources
Key Questions: 25 or 50... Is That Really the Question? | Key Private Bank
Key Questions | Key Private Bank
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