KEY POINTS From Jeff Cox CNBC
Fed Chairman Jerome Powell announced a major policy shift Thursday to “average inflation targeting.”
That means the central bank will be more inclined to allow inflation to run higher than the standard 2% target before hiking interest rates.
In addition to the inflation change, the Fed shifted its approach to employment in a way that will focus on those at the lower end of the income spectrum.
This jobs number should ease some recession fears, although next weeks CPI will be a key indicator as we all know. Payrolls were up 372,00 better than expected with the unemployment rate remains at 3.
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The CME in August will be introducing a new Lumber Futures Contract that is very beneficial to hedgers. Her are the highlights... New Lumber futures and options Launching on August 8* barcharts.com Th