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A Passive/Aggressive Approach to Investing
In a US economy that is showing significant signs of deceleration, an acceleration in employment in last week’s job release was a comforting factoid. The unemployment rate remained unchanged at 4.1% near full-employment levels. The Fed will most likely treat this latest economic signal as neutral when deciding on action for the September rate announcement.
However, there will be dissenting voices in the Fed. Friday sees the release of August CPI in the US. Consensus is for an unchanged 3.4% headline number. This is way higher than the Fed’s long-term target of 2%. But even with that in mind…
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