Weekly Market Snapshot

Market Commentary
by Scott J. Brown, Ph.D., Chief Economist

As expected, the Federal Open Market Committee lowered short-term interest rates for the third time this year. Chair Powell, hinting that the Fed is done cutting rates for a while, said that “we see the current stance of monetary policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook of moderate economic growth, a strong labor market, and inflation near our symmetric 2% objective – we believe that monetary policy is in a good place to achieve these outcomes.” Of course, “if developments emerge that cause a material reassessment of our outlook, we would respond accordingly – policy is not on a preset course.

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