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The #Fed has a dual mandate—lower #inflation while avoiding significant #job losses. Will it be able to accomplish this? Diane Swonk will share her thoughts after the much-anticipated September meeting on whether the landing will be soft or turbulent. bit.ly/3T8pKM3

Powell says lower rates will bring sellers and buyers back to the housing market. In fact, more locked-in homeowners and renters are itching to move soon. If we get 100+ bps of cuts by next March, spring 2025 could see a big spike in both listings and sales.

Powell moves to seal his legacy kpmg.com/us/en/articles…

“A soft landing is within reach, which would seal his legacy as Fed Chairman. The Fed was late in raising rates and doesn’t want to risk recession, given the progress made on inflation.” More cuts to come kpmg.com/us/en/articles…

#Housing starts soared 9.6% in August as falling #mortgage rates are bringing buyers back, Senior Economist Yelena forecasts, “Residential #investment is expected to start boosting growth as early as the first quarter of 2025.” Full report here: bit.ly/4dk6S48

#Retail sales grew 0.1% in August, beating expectations. There was positive momentum for #building materials dealers as homeowners invest in home improvement projects. Spending at auto dealers edged lower but beat expectations. Report from Ben Shoesmith: bit.ly/3XO4PAz

#Industrial production rose 0.8% in August, but the annual figures remain stagnant. #Manufacturers are grappling with higher rates. #Fed rate cuts should provide relief. Full report from KPMG US Senior Economist @MeaganSho: bit.ly/4etQpLG

"Chair Powell was trying to be very clear yesterday, 50 is not the new norm. This was a fast start," says Roger Ferguson, Former Federal Reserve Vice Chairman. "They want to make sure they're ahead of the game. But expect 25s going forward."

Both would be good…churn in market needed.

Listen to Marketplace morning show to hear @kpmg_us chief economist Diane Swonk on the impact of the Fed’s big rate cut.

Mortgage rates have dropped to ~6% after peaking at ~8% last fall And real estate brokers' phones are buzzing nonstop. Sidelined buyers are dusting off mortgage pre-approvals. Others, are asking when they should refinance. with the great Abha Bhattarai: washingtonpost.com/business/2024/…

Vaccines can help against getting cancer & some are being developed to combat cancer. Thank you! nytimes.com/2024/09/18/wel… via @NYTimes

Fed governor Chris Waller tells CNBC: The Aug inflation numbers last week suggest core PCE rose 0.14%. If you annualize the last four months, that leaves inflation running at less than 1.8% "The inflation data we got during blackout pushed me" in the direction of favoring 50.

Fed governor Chris Waller echoes Powell's remarks on Wednesday that the Fed is not behind the curve, telling Steve Liesman that the 50bp cut was not about responding to some acute economic stress. Going big was about keeping the economy strong

“This is a very different easing cycle than most other ones,” says Seth Carpenter at Morgan Stanley. “Most other easing cycles happen because of recession.” Latest Financial Times big read w/ Sam Fleming (FT) Olaf Storbeck on the policy pivot underway from central banks ft.com/content/b003ab…

IF you could magically conjure up 1.5 million housing units—750,000 for sale and 750,000 for rent—and they all stayed vacant, you'd bring housing vacancy rates back to their historic norms That's according to an analysis by Freddie Mac economists Chart via ResiClub

I will be laying out our outlook on September 24th. ⬇️

Gen Z just overtook Baby Boomers U.S. full-time workforce, by generation  Millennials: 49.5m Gen X: 42.8m Baby boomers: 17.3m Gen Z: 17.1m

An example of how nimble and flexible the Federal Reserve has become and why pigeonholing- pun intended - any participant at a meeting as a Dove or a Hawk is pointless. Data change and they change their views….⬇️ minneapolisfed.org/article/2024/w…