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Be Wealthy & Smart

Chairman Powell Signals a Change in Policy

Be Wealthy & Smart

Linda P. Jones

Finance, News, Invest, Investing, Economy, Money, Financial, Business News, Business

4.8883 Ratings

🗓️ 23 August 2024

⏱️ 6 minutes

🧾️ Download transcript

Summary

Discover why Chairman Powell signaled a change in policy.

Are you investing well for financial freedom...or not?

Financial freedom is a combination of money, compounding and time (my McT Formula). How well you invest, makes a huge difference to your financial future and lifestyle.

If you only knew where to invest for the long-term, what a difference it would make, because the difference between investing $100k and earning 5 percent or 10 percent on your money over 30 years, is the difference between it growing to $432,194 or $1,744,940, an increase of over $1.3 million dollars.

Your compounding rate, and how well you invest, matters!

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Transcript

Click on a timestamp to play from that location

0:00.0

Be wealthy and smart, episode 1393. If y'all know what I mean put your hands up and declare with me.

0:14.0

Yeah, I'm full of bad time.

0:18.0

I'm gonna live the good life

0:21.0

and beautiful and financial freedom without budgets, boredom or bosses on

0:31.6

be wealthy and smart. And now here's your host, Linda P. Jones.

0:37.0

Welcome to Be Wealthy and Smart. I'm Linda P Jones, America's wealth mentor.

0:42.0

Empowering women and men worldwide to financial freedom. to So as we all know the Federal Reserve is meeting at Jackson Hole, Wyoming right now,

0:55.2

and Chairman Powell stepped up to the mic to say the time has come for the policy to adjust.

1:01.0

He said the direction of travel is clear and the timing and pace of rate

1:05.4

cuts will depend on incoming data, the involving outlook and the balance of risks.

1:11.0

Of course right now traders are pricing in a 100% chance of a quarter percent

1:16.8

rate cut in September according to the CME Group's Fed Watch tool but there's

1:22.1

not really consensus over how big the cut will be. Some people

1:26.0

say a quarter percent, some people say a half a percent. But those who say a half a percent

1:31.6

are definitely in the minority camp.

1:33.8

Naim Aslem, chief investment officer at Zay capital market, said Powell's comments have brought a lot

1:39.4

of excitement for traders, even though many expected the Fed to say that time has come to make adjustments.

1:45.4

It shows how to prive the market has been due to high interest rates.

1:49.4

The S&P has been up 1% for the week and is positive for the second week in a row.

1:55.6

The largest gainers this week were not technology companies but instead retailers like

2:00.4

Target and T.J. Max. Target was up 10% and T.J.X. companies was on pace for a 7% weekly increase.

2:09.0

We also saw 10 out of the 11 S&P 500 sectors have a positive week.

...

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