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Tax Blog

Markets Eagerly Awaiting Consumer Confidence and Jobs Report

This week is report week for the Market as everyone waits while holding their breath hoping for better news on inflation and a strong jobs report for August. Over the past month, the S&P 500 Index has dropped 3.39%. The past year has seen the S&P 500 Index rise 10.58%.

Federal Reserve Chairman Jerome Powell has remained committed over the past two years to bring down inflation to the Federal Reserve’s 2% target with 11 hikes since March of 2022. With the current Federal Funds now between 5.25% and 5.5% and three more meetings scheduled for the year, they will be keeping a close eye on the Personal Consumption Expenditures Price Index. Last month, Core Inflation was at 4.8%. Fingers crossed it lowers as we are currently experiencing the highest borrowing rates in over 20 years.

For more information, please reach out to the Professionals at The Center for Financial, Legal, & Tax Planning Inc., at (618) 997-3436.



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