Breaking the Streak

After three straight cuts, the Fed voted 10-2 on Wednesday to keep rates unchanged. 

Fed Chair Jerome Powell cited inflation remaining stubbornly above their 2% target (it’s currently 2.7%) and a cooling labor market. The decision also underscores the central bank's desire to remain independent, defying President Trump’s repeated demands for lower rates even as the Supreme Court considers whether the president should have more authority to fire Fed governors.

Markets closed mostly unchanged following the expected decision, though the S&P 500 got 15 seconds of fame after briefly crossing $7,000 for the first time. 

Meanwhile, Amazon and UPS are coming in hot with job cuts. Amazon said it’s slashing ~16k corporate jobs to remove “bureaucracy,” and UPS announced plans to cut ~30k jobs this year.

Verse to consider whether your prospects are up with the market, down with unemployment, or steady with interest rates…“I have learned to be content in whatever circumstances I find myself. I know how to make do with little, and I know how to make do with a lot. In any and all circumstances I have learned the secret of being content—whether well fed or hungry, whether in abundance or in need. I am able to do all things through him who strengthens me.” 
Philippians 4:11-13 (CSB) (read full passage)