August 29th, 2025 12:23 PM by T. Fanning
Happy Friday! I hope you have a great weekend and Labor Day!
Inflation rose in July at its fastest pace since February, driven mainly by tariffs. The increase matched forecasts but stayed above the Fed’s 2% goal, signaling ongoing price pressures. Even so, markets still expect another rate cut next month if the job market weakens further. Mortgage rates held mostly steady for the week.
Next week begins with markets closed for Labor Day and reopening Tuesday. While the calendar is light, important reports are due, including the ISM manufacturing index (a measure of factory growth or decline) and the government’s Employment Report. Both are closely watched ahead of the Fed’s September 16-17 meeting, especially since last month’s jobs data came in weaker than expected with major downward revisions.
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