Daily Market Commentary

July 29, 2020

The Fed has discussed linking its rate path to reaching or overshooting its 2% inflation goal or to an unemployment rate objective, in a variation of the thresholds it deployed in 2012. Economists surveyed look for that to happen in September but the FOMC could move up its plan.

Data due Thursday are forecast to show U.S. gross domestic product plummeted an annualized 34.8% in the second quarter, the most in records dating back to the 1940s, after the spread of Covid-19 prompted Americans to stay home and states to order widespread lockdown.

The U.S. plans to withdraw about 12,000 troops from Germany, with some redeploying to other European nations and a little more than half returning to the U.S., a defense official said.

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