Skip to main content. Skip to contact links. Skip to navigation. If you wish for the loan officer to reach out to you, click to skip to their contact form. If you have questions for this loan officer, click to call them. If you need loan servicing, click to call our loan servicing department at 855-979-1084 Skip to footer navigation.
Andy Villarraga Headshot

Andy Villarraga

Loan Officer
Movement Mortgage
NMLS ID # 1424085
4804 Courthouse Street, Ste 4B, Williamsburg, VA 23188
Dial Phone Number
p: (980) 721-8099
f: (757) 264-9303
Send E-mail to
e: andy.villarraga@movement.com

Inflation Cools as Retail Sales Surge: Fed’s Next Move

By: Movement Staff
August 16, 2024
The reaction over July’s employment report continues to moderate, as this week’s economic data shows cooling inflation backed by a resilient economy. The Consumer Price Index (CPI) dropped to 2.9% year over year from 3% last month, signaling that inflation is gradually moving closer to the Federal Reserve’s target. Retail sales were up 1% in July, exceeding expectations.  

For the Fed, these strong retail sales numbers could indicate that the economy is still strong enough to handle higher interest rates without slowing down too quickly. Economists still expect a rate cut at next month’s Federal Reserve meeting, but the latest numbers suggest the likelihood of a 0.5% cut versus a 0.25% cut has slightly diminished. 

Looking ahead, the upcoming Jackson Hole Economic Symposium will be the key event on next week's calendar.
Author: Movement Staff

The Market Update is a weekly commentary compiled by a group of Movement Mortgage capital markets analysts with decades of combined expertise in the financial field. Movement's staff helps take complicated economic topics and turn them into a useful, easy to understand analysis to help you make the best decisions for your financial future.

RELATED

Andy Villarraga Headshot
Andy Villarraga
Loan Officer
Ready to learn more or get started? Complete the form and let’s connect.
4804 Courthouse Street, Ste 4B, Williamsburg, VA 23188
(opens in a new tab)
NMLS # 1424085

State License #VA-MLO-34314VA