Presented by Matt Glova and the LifeTime Asset Management team:
Weekly Market Update, August 29, 2022
Although August is an off month for Federal Open Market Committee (FOMC) meetings, Federal Reserve (Fed) Chair Jerome Powell still had an opportunity to provide forward guidance and
steer the markets through his much-anticipated appearance at the annual Economic Symposium in Jackson Hole, WY last week. Powell took a strongly hawkish tone; he made it clear that more rate hikes are coming and fighting inflation is his top priority despite the pain that many households will likely experience as a result. Equity markets sold off heavily last week as the Fed
took center stage at the Jackson Hole retreat.
Weekly Market Update, August 22, 2022
Without a Federal Open Market Committee (FOMC) meeting in August, the Federal Reserve (Fed) will likely rely on this week’s Economic Policy Symposium in Jackson Hole, Wyoming, as an opportunity to bolster its message and reiterate a hawkish stance in an attempt to further tighten economic conditions. Equity markets took a break from their recent rally last week as commentary from Fed members James Bullard and Esther George signaled a continued need to keep rates elevated to further slow inflation down.
Weekly Market Update, August 15, 2022
Last week’s inflation reports showed encouraging signs of softening, but the Federal Reserve (Fed) is still far from out of the woods and is looking for much stronger signs of moderation. Equity markets rallied last week as both consumer and producer inflation came in lower than expected, offering the first sign of relief from rising prices since the second quarter of 2021.
Weekly Market Update, August 8, 2022
After the Federal Reserve (Fed)’s second consecutive 75 basis point (bp) rate hike on July 27, all eyes now look toward the September Federal Open Market Committee (FOMC) meeting. With
inflation remaining near 40-year highs, the markets and Fed officials are expecting continued rate hikes through year-end. Equity markets were mixed last week as the Nasdaq Composite Index and technology stocks continued their rally from the July FOMC meeting and better-than-feared earnings.
Weekly Market Update, August 1, 2022
The Federal Reserve (Fed) raised interest rates by another 75 basis points (bps) at last week’s FOMC meeting, bringing its target range to 2.25 percent to 2.50 percent. Equity markets rallied last week, supported by seemingly dovish Fed speak from FOMC Chairman Jerome Powell and better-than-expected second-quarter earnings reports from Apple (AAPL) and Amazon (AMZN).