July 31st Weekly Economic Update

Markets continued to rise this week despite a small setback on Wednesday as the Fed decided to continue their interest rate increase of another .25%. Last week we saw a large number of public companies report their 2nd Quarter Earnings and most were positive with good forward-looking guidance. Friday provided a great reading on inflation as June consumption came in right in line with expectations and the core consumption numbers came in slightly below. This means the US populus is reacting to rising rates the way that the Fed wants them to.