January will end, this week, with an economic bang. US employment data for the end of 2023 and the start of 2024 will provide fitting book-ends for the Tuesday/Wednesday meeting of the Federal Open Market Committee (FOMC). The Personal Consumption Expenditures Price Index release from Friday pretty much ensured that the Fed would be able to continue with the dovish (victorious?) narrative Chairman Powell voiced in December. While it’s widely expected to keep the Fed funds target rate unchanged at 5.25%-5.50%, attention will be on whether the message from the meeting is dovish enough for traders to price in a first rate cut as soon as March. The commentary will be especially interesting since over the last three months, core PCE has advanced just 1.52% at an annual rate. Over the last six months, core PCE has climbed just 1.86%. In other words, the momentum under core inflation is soft and below the Fed’s 2% target inflation goal. On the wealth planning front, we explore how behavioral biases can affect investor decisions.
Click Here to Read the January 29, 2024, Economic Commentary
Click Here to Read the January 29, 2024, Investment Commentary
Click Here to Read the January 29, 2024, Wealth Planning Commentary
