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Clarksville, TN – Next week, the focus will be on the Fed’s policy decision and Janet Yellen’s first press briefing as Fed chair. The Federal Open Market Committee is expected to taper the monthly pace of asset purchases by another $10 billion (to $55 billion).
Policymakers are also expected to tweak the language of the forward guidance (the Fed’s conditional commitment to keep the overnight lending rate exceptionally low). Specifically, we can expect the FOMC to discard the 6.5% unemployment rate threshold.Officials have already indicated that they intend to look at a wide range of indicators to gauge the strength of the labor market.
With elevated long-term unemployment, high unemployment rates for teenagers and young adults, and widespread evidence of underemployment, a full recovery in the labor market is still a long way off.
Fed officials will update their projections of growth, unemployment, inflation, and the path of the federal funds rate. Yellen is expected to be a better communicator than her predecessor.
Consumer Money Rates
Treasury Yield Curve – 3/14/2014
S&P Sector Performance (YTD) – 3/14/2014
US government bonds and treasury bills are guaranteed by the US government and, if held to maturity, offer a fixed rate of return and guaranteed principal value. US government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. Treasury bills are certificates reflecting short-term (less than one year) obligations of the US government.
Commodities trading is generally considered speculative because of the significant potential for investment loss. Markets for commodities are likely to be volatile and there may be sharp price fluctuations even during periods when prices overall are rising. Specific sector investing can be subject to different and greater risks than more diversified investments.
Tax Equiv Muni yields (TEY) assume a 35% tax rate on triple-A rated, tax-exempt insured revenue bonds.
The information contained herein has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete. Data source: Bloomberg, as of close of business March 13th, 2013.
Frazier Allen, WMS, CRPS, Financial Advisor with F&M Bank
Web Site: http://www.raymondjames.com/frazierallen
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