Experts say strong jobs data and higher inflation readings have paved the way for the Fed to taper its asset purchases and create a reduction in buying. The announcement should come in September. However, Fed officials could delay the decision until November pending August jobs data, possible lockdowns caused by the delta variant, and future inflation readings. In other news, Yahoo Finance has created a list of 50 things you should know about retirement, including how to save for it.

 

CNBC/Steve Liesman
There’s growing support within the Fed to announce the tapering of bond purchases in September

Shifting policy views amid unexpected economic data have opened the door for the Federal Reserve to announce in September a decision to taper its assets purchases and begin the reduction in buying a month or so after.

Interviews with officials along with their public comments show growing support for a faster taper timeline than markets had expected a month ago. Those changing views follow the strong jobs data of the past two months along with higher inflation readings.

Fed Governor Christopher Waller and Fed bank Presidents Eric Rosengren, Robert Kaplan, and Jim Bullard have publicly called for a September taper. Atlanta’s Raphael Bostic supported beginning the taper sometime between October and December, suggesting he could also favor a September announcement. The group is not known for being hawks, and in fact, some were among those making the earliest calls for historic Fed action to support the economy at the beginning of the pandemic.

You can read some of the policymakers’ comments on the matter, here.

 

Kitco News/Neils Christensen
Gold price pushes into positive territory following sharp drop in New York Fed Empire State Survey

The gold market is seeing some modest support as prices continue to bounce off their session lows following weaker than expected data from the New York Federal Reserve.

Monday, the regional central bank said its Empire State manufacturing survey’s general business conditions index fell to a reading of 18.3 in August, down significantly from July’s reading of 43. The data was worse expected as consensus forecasts were calling for a reading around 28.9.

The gold market has bounced into positive territory following the disappointing manufacturing data. December gold futures last traded at $1,780.30 an ounce, up 0.12% on the day.

The gold market is seeing some modest support as prices continue to bounce off their session lows following weaker than expected data from the New York Federal Reserve.

You can read the full story, here.

 

Yahoo Finance/Ashley Redmond
50 Things Every 50-Something Should Know About Retirement

People in their 50s who are nearing retirement have a lot on their plates.

Between mortgages, adult-age kids, and other responsibilities, it can be hard to prioritize everything. However, it’s never too late to prepare yourself for those golden years.

See the full list, here.

 

 

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