Wall Street Breakfast Fed dual mandate officially back
5 snips
Jul 31, 2024 
Kelly Ortberg, the soon-to-be chief executive of Boeing, shares insights on the Federal Reserve's renewed focus on its dual mandate of employment and inflation. He discusses the implications of keeping rates unchanged and what it means for job markets. The conversation shifts to market dynamics, spotlighting a tech rally led by the Nasdaq and AMD's pivotal role in the AI boom. Ortberg also highlights promising high-yield dividend stocks that might gain traction, blending economic strategy with investment advice.
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Fed Returns to Dual Mandate
- The Fed shifted focus from solely inflation to balancing its dual mandate of inflation and employment.
- This marks a significant change in Fed policy language reflecting labor market risks alongside inflation risks.
Powell Signals Possible September Cut
- Fed Chair Jay Powell indicated a possible rate cut in September if data supports it.
- The Fed shows readiness to ease policy, focusing on upcoming good data before cutting rates.
Nasdaq Nearly Hits 3% Rally
- Nasdaq led stocks rally, nearing a 3% gain, the best in 2.5 years.
- Market optimism was fueled by Fed comments despite later profit-taking.