Happy December! Inflation continues to decline to an annual rate of 2.8 percent in September from 2.9 percent in August. This is for the core personal consumption expenditures (CPE) price index, the preferred measure of inflation for the Federal Reserve. Additionally, private payrolls for November declined by 32,000 jobs in November, the biggest decline in 2 ½ years, according to ADP. The forecast by economists according to Reuters was for an increase of 10,000 jobs. With inflation weakening and the job market softening, there is now an almost 90 percent probability of the Federal Reserve cutting interest rates in December. I hope you and your family have a wonderful holiday season. Merry Christmas!
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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