The Department of Labor has reported new initial jobless claims for the week ending August 24th. The figure came in at 231,000, down slightly from the...
The Department of Labor has reported new initial jobless claims for the week ending August 24th. The figure came in at 231,000, down slightly from the 233,000 reported the week prior. Last week, there was a revision to the employment data showing that David Miller , Catalyst Funds co-founder, CIO, and senior portfolio manager joins the show to discuss the data and how investors should be interpreting the data as the Federal Reserve moves toward its first interest rate cut.
Despite his view of the economy as"healthy," Miller expects weak GDP growth in the fourth quarter because of the"lagging effects of higher interest rates." He expects the Federal Reserve to start cutting rates in September. Once rates start to fall, he expects 2%-3% GDP growth with about 2% inflation.The Department of Labour is out with new initial jobless claims this morning, showing a seasonally adjusted 231,000 new applications for the week ending August 24th.
And you know those higher borrowing costs, Uh, for companies, I think when you see rates start to come down, you know, feds expected to cut in September.I think you can probably get back to like, uh, 2 3% type of GDP growth, Uh, thereafter.Uh, between what the Fed was hoping for, you know, 2% type, uh, inflation combined with, you know, 2 to 3%.
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