Financial market participants had hoped last Friday’s job report would provide guidance whether the Fed will increase short term interest rates at their next meeting later in September. With 151,000 new jobs created in August, the report was good but probably not good enough for the Fed to raise rates. It’s now anticipated the next rate increase won’t occur until the Fed meets in December. It’s worth noting, since 1990, the Fed has never moved to tighten short-term rates during the months preceding a presidential election.
About Cathy Robin
Cathy Robin is with American Mortgage & Equity Consultants, Inc., License # 336090. She may be reached at: 952-449-7144.