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Rate Watch For The End Of Summer

By
Mortgage and Lending with Watermark Capital NMLS #311662

Unemployment numbers came in Friday showing the unemployment rate rising to 3.7%. Remember, the jobs report is the main economic component that the Fed is holding onto to prove to everyone we are not in a recession – even though up until only recently (oddly enough), 2 back to back quarters of GDP growth is what defined a recession.

 

We have a lot of Fed members talking this short week. They will most likely break down what went on at Jackson Hole and support the Fed Chairman’s speech from Friday.

 

Wednesday

 

  • International Trade Balance
  • Cleveland Fed President Mester Speaks
  • Fed Vice Chair Brainard Speaks
  • Beige Book
  • Fed Vice Chair Barr Speaks

 

Thursday

 

  • Initial & Continuing Jobless Claims
  • Fed Chair Jerome Powell Speaks
  • Chicago Fed President Evans Speaks

 

Friday

 

  • Chicago Fed President Evans Speaks
  • Kansas City Fed President George Speaks
  • Fed Gov. Waller Speaks

 

The majority of Fed members have turned hawkish which means we should expect them to continue raising the prime rate to control their perception of inflation. 

 

 

Chart Check (see above)

 

You can see where I mentioned (black circle) these things like to retest the lows. We’re seeing that play out. We are in a small downward channel. It’ll be interesting to hear/see what the Fed members have to say this week and how the market digests it.

 

 

 

Click HERE to stay current with the Fed’s meetings this year. You can also view the statements and minutes from previous meetings.

 

Posted by

Matt Brady

Branch Manager, NMLS ID#311662

(858)342-8659 cell |

matt.brady@watermarkhomeloans.com  
8885 Rio San Diego Dr │ Suite 201  San Diego, CA 92108     

 

BIA SanDiego 19 year Member and P2 Sponsor

 

BIA SMCBoard Member since 2012

 

 

 

 

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Matt and thank you for the great information to share with us here in the rain.  Make it a great day!

Sep 06, 2022 09:10 AM