The bond market continues to price another Fed cut in September.
Investors continue to focus on the waves of news on the trade war. Fed Chairman Powell gave his annual speech to the Jackson Hole economic forum on Friday. He indicated the U.S. economy is in good condition with growth accelerating on the strength of consumer spending. He did say the uncertainties of the trade war with China will cause the Fed to be cautious in making any decision about a change in monetary policy. The Fed continues to get pressure from the Administration to lower managed rates further to stimulate even faster economic growth.
PROBANK AUSTIN ADVISOR - AUGUST 26, 2019