Last week, the Fed made a big move by cutting the policy rate by 0.50%. The Federal Open Market Committee’s quarterly Summary of Economic Projections showed decreases in expected inflation and policy rate and an increase in unemployment compared to their June projection. Stocks rallied on the news, with the S&P 500 gaining 1.39%.
This week, stocks look to post a monthly gain in September for the first time since 2019. Friday, the Personal Consumption Expenditures report is expected to remain unchanged at 2.5% compared to June.
Most of Florida’s west coast is under a hurricane or tropical storm watch. Unify Financial Advisor’s business continuity plan provides processes to ensure that mission-critical trading and order-taking operations are available to clients if communications services are unavailable. We will notify you immediately of any office closures or remote work. In case of a temporary office closure, you can call us at 727-306-0299 or contact Charles Schwab at 1-800-515-2157. Unify Financial Advisors strives to provide exceptional service to our clients in all circumstances. We hope you remain safe over the coming days.
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Thank you for reading! You are welcome to contact me directly with questions or comments.
Regards,
David Bennett