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Reagan Gulotta Headshot

Reagan Emily Gulotta

Jr Loan Officer
Movement Mortgage
NMLS ID # 2010145
500 S Main St, Bldg C Ste# 103, Mooresville, NC 28115
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Latest jobs report will factor into fed's September decision

By: Movement Staff
September 1, 2023
Last week, we addressed the possibility of Jerome Powell maintaining a consistent stance in his Jackson Hole speech, underscoring the importance of staying on the current trajectory. In large part, this is exactly what transpired. Powell went a small step further by specifically mentioning to raise rates if the situation demands. The markets took him at his word and are now increasing the probability of a 25 basis points hike at the November meeting. The rationale behind a November adjustment stems from several Federal Reserve governors adopting a hawkish stance on inflation during their speeches while also advocating for a cautious "wait and see" approach with regard to rate hikes.
 
This juxtaposition has signaled to the markets that the Fed is leaning towards a pause at September’s meeting


This juxtaposition has signaled to the markets that the Fed is leaning towards a pause at September’s meeting. The notion of a decelerating economy, mentioned in our last Market Update, has been supported by recent indicators. However, the August Nonfarm Payrolls (NFP) report released this morning shows mixed data. Many predicted the report to show 170,000 new jobs created this month, but the data came in higher at 187,000. Conversely, unemployment rose to 3.8% in August from 3.5% in July.
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.

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Reagan Gulotta Headshot
Reagan Emily Gulotta
Jr Loan Officer
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500 S Main St, Bldg C Ste# 103, Mooresville, NC 28115
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NMLS # 2010145

State License #NC-I-196999