The economy continues to gradually slow down as the impacts of the Federal Reserve’s interest rate hikes ripple through—with increasing effects on consumers, capex spending, and corporate financings. Several leading indicators (from small business hiring plans, Google searches, to WARN notices) tell us that jobless claims are inching upwards. This week, we’ll be closely tracking the FOMC meeting during which the Fed is expected to hike interest rates by 25 basis points. Given that inflation is trending downwards and growth is slowing, it will be particularly interesting to hear what Chairman Jerome Powell says about the September forward guidance.
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