Jeffrey Saut, chief investment strategist at Raymond James said today:
“I think the market is suggesting that the Fed isn’t going to be able to raise rates, and I think the real story is, even if they do raise rates, it will be because the economy is getting better.”
Consumer spending in the U.S. rose 0.3 percent in July, in line with expectations. Personal spending also rose 0.1 percent last month and is up 1.6 percent over the 12 months through July. Investors are already anxiously looking ahead to the release of Friday’s August jobs report, with speculation of a rate hike next month increasing.
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