Managing By Anecdote - Is There Some Doubt For A Rate Cut This Month?

I am reading a lot of commentators saying that today’s ISM report is adding weight to the case that the Fed will reduce interest rates. I have been thinking about this and I am not as confident. Although ISM declined today to 52.9, the report is still higher than it was in the first quarter. Keep in mind that first quarter GDP in the U.S. was excellent. So is ISM really that predictive for economic conditions? It probably isn’t. ISM is a sentiment [...]

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[Source: The Money Blogs]