Happy August! Net new jobs for July came in at 73,000 versus an expected 100,000 and the unemployment rate increased to 4.2 percent from 4.1 percent. The expectation has been for the Federal Reserve to cut rates twice in the second half of 2025, and it just became more likely to happen sooner rather than later. The next regular meeting of the Federal Reserve is in mid-September. Meanwhile, tariff deals for the European Union, Japan, South Korea, and the United Kingdom have been signed while deals with China, Mexico, India, and Canada remain to be completed. While it is too early to say ‘all clear’ on the tariffs front, it appears to be much more manageable than feared. I hope you have the opportunity to enjoy the last full month of summer with family and friends!
All the Best, Jon Gauthier, President, GWM
If you are not connected to GWM on LinkedIn, request a link at: Linkedin.com/in/jon-gauthier-cfp/. You can also catch up on our latest activities at our Web site, www.gauthierwm.com.
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