Top market strategist sees ‘nirvana’ after Fed rate cut, new economic data
==========
The Federal Reserve cut interest rates by 50 basis points on September 18, 2024, the first cut since March 2020; initial jobless claims fell to 219,000 for the week ending September 14, the lowest since May; unemployment rolls decreased to 1,829,000 for the week ending September 7; manufacturing surveys show resilience, with the Philadelphia Fed Manufacturing Business Outlook Survey turning positive; wage growth stabilized at 3.3% in August, indicating a robust economy; Eric Wallerstein from Yardeni Research describes the situation as 'nirvana' for the economy.
#FederalReserve #InterestRates #Economy #JoblessClaims #Manufacturing #Wages #YardeniResearch #MarketStrategy #EconomicData #Resilience
https://fortune.com/2024/09/19/nirvana-markets-fed-rate-cut-jobless-claims-wages-manufacturing/
Fortune /
npub1v7…9v0r4
2024-09-19 18:51:03
Author Public Key
npub1v7hvaa8pv7g92sr6na55dtzaxmrrsgddxkhst3e8atw4nxusm37sg9v0r4Published at
2024-09-19 18:51:03Event JSON
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"content": "Top market strategist sees ‘nirvana’ after Fed rate cut, new economic data\n==========\n\nThe Federal Reserve cut interest rates by 50 basis points on September 18, 2024, the first cut since March 2020; initial jobless claims fell to 219,000 for the week ending September 14, the lowest since May; unemployment rolls decreased to 1,829,000 for the week ending September 7; manufacturing surveys show resilience, with the Philadelphia Fed Manufacturing Business Outlook Survey turning positive; wage growth stabilized at 3.3% in August, indicating a robust economy; Eric Wallerstein from Yardeni Research describes the situation as 'nirvana' for the economy.\n\n#FederalReserve #InterestRates #Economy #JoblessClaims #Manufacturing #Wages #YardeniResearch #MarketStrategy #EconomicData #Resilience\n\nhttps://fortune.com/2024/09/19/nirvana-markets-fed-rate-cut-jobless-claims-wages-manufacturing/",
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