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News and Insights » UMAFS Market Review Week Ending 10/14/2016

Market Review Week Ending: October 14, 2016

This week, the Federal Reserve Open Market Committee (Fed) released September’s meeting minutes. Surprisingly, the minutes demonstrate a growing divide among committee members, who seem to disagree over how much lower the unemployment rate can go before inflation grows and the economy overheats. As such, the Fed member’s voting results indicate that September’s decision not to increase rates was actually much closer than most anticipated. However, with the coming election, most analysts still anticipate the Fed holding firm until the December meeting.

Earning season releases were in full swing this last week, which brought mixed results. Among the strong results were banks like JPMorgan Chase and Citigroup. Wells Fargo also reported strong quarterly numbers. However, those results were overshadowed as the news broke of CEO John Stumpf stepping down amidst the unauthorized account openings scandal.

In the coming weeks most analysts will be attempting to gauge the continued financial strength of U.S. companies and the future growth of our economy, as the earning season continues to unfold.

October 19th, 2016 @ 9:22am by UMAFS
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