Economic Update – March 2019
In this month’s recap: the Federal Reserve sees no rate hikes in 2019, investors watch Treasury yields with interest, hiring suddenly weakens, home sales pick up, and the price of oil tops $60.
You could say that Wall Street breathed a collective sigh of relief in February. Investors were encouraged by new developments in U.S.-China trade negotiations and by the minutes from the Federal Reserve’s most recent policy meeting. On Main Street, consumer confidence improved, while consumer spending kept pace. Home sales declined once more, but so did mortgage rates. Optimism about the potential of the markets seemed to outweigh pessimism about possible economic deceleration. The S&P 500 gained 2.97% for the month.1
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