MFA Musings: 11/4/19
Good morning and happy Monday!
Economic news was in vogue last week. The FOMC decided to lower the Federal Funds rate by 0.25% to a range of 1.50% to 1.75%, and we feel they are done lowering rates until well into the first quarter of next year. Additionally, Gross Domestic Product (GDP) for the third quarter of 2019 was announced this last week, coming in at 1.90%, which was above estimates. As a reminder, quarter 1 of 2019, it was 3.1%.
The consumer continues to be strong and is keeping the economy going. Consumer spending makes up over 70% of economic activity in the USA. As long as the consumer is happy, we expect growth to be positive. And, the consumer feels good with record low unemployment.
As we enter November and the weather starts to turn, it is time to remember that Thanksgiving is just around the corner. Make sure you schedule time with family and friends, as laughter and little running feet are the center of happiness. And, for your reading happiness, please see the attached fourth quarter McQueen Financial Advisors Economic Outlook.
Contact your MFA advisor to discuss ways to grow profitability with an inverted to flat yield curve. All of us at McQueen Financial are dedicated to your long-term success.
Have a great week!