Housing

Consumer confidence remained high even after a dip this month, and a rate cut by the Federal Reserve could send it higher.

September durable goods orders fell more than expected, while orders for non-defense capital goods excluding aircraft also dropped, suggesting production won't rebound this year.

While the economic indicators released on Thursday suggested a weakening economy, a deeper dive by analysts offers a different view.

The start of an impeachment inquiry brings uncertainty, as business investment continues to be soft.

Interest rates should be less than 1.5%, not the current 1.75% to 2%, according to Federal Reserve Bank of Minneapolis President Neel Kashkari.

The Federal Reserve took center stage again Friday, with two presidents explaining why they dissented at the latest meeting and Vice Chair Richard Clarida terming it “healthy” debate.

The FOMC voted to cut the target range 25 basis points to 1.75% to 2% as “uncertainties” offset prospects for “sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective.”

Federal Reserve Board Chairman Jerome Powell again pledged the central bank “will act as appropriate to sustain the expansion,” despite “no recent precedents to guide” policy decisions.

“A couple” of Federal Open Market Committee members wanted a 50 basis point rate cut at its July 30-31 meeting, according to minutes released Wednesday, while “several” would have preferred no action.

The debate over yield curve inversion continued, as a summer Friday yielded little economic data, but the market waits to parse the minutes of the most recent Federal Open Market Committee and then eyes will turn to the Federal Reserve Bank of Kansas City’s annual Jackson Hole retreat.