{"id":194815,"date":"2023-08-14T10:45:00","date_gmt":"2023-08-14T14:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=194815"},"modified":"2023-08-14T10:50:58","modified_gmt":"2023-08-14T14:50:58","slug":"why-the-fed-is-focused-on-your-paycheck","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/why-the-fed-is-focused-on-your-paycheck\/","title":{"rendered":"Why the Fed is Focused on your Paycheck"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>By: Gerald Sparrow&nbsp;President &amp; Founder,&nbsp;Sparrow Capital Management, Inc.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Federal Reserve has a dual mandate\u2014manage inflation and maximize employment. But sometimes, those economic goals conflict with each other.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As you can see in the accompanying chart, labor shortages in 2022 pressured businesses to lift wages, which, in turn, put more money in people\u2019s pockets. More money leads to more spending, which can produce inflation. So from the Fed\u2019s perspective, employment improved last year, but inflation worsened.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"540\" height=\"522\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/d0f2b4d7-0980-4f6b-b837-f5362a170787.jpg\" alt=\"a three-month average of median wage growth, hourly data\" class=\"wp-image-194816 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/d0f2b4d7-0980-4f6b-b837-f5362a170787.jpg 540w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/08\/d0f2b4d7-0980-4f6b-b837-f5362a170787-300x290.jpg 300w\" data-sizes=\"(max-width: 540px) 100vw, 540px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 540px; aspect-ratio: 540\/522;\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">But 2023 is telling a different story. Median wage growth is heading lower while inflation is dropping, which is precisely what Fed Chair Jerome Powell wants to see as he evaluates what\u2019s next for short-term interest rates.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI would say it\u2019s certainly possible that we will raise funds again at the September meeting if the data warranted,\u201d said Powell after the Fed\u2019s July meeting. \u201cAnd I would also say it\u2019s possible that we would choose to hold steady, and we\u2019re going to be making careful assessments, as I said, meeting by meeting.\u201d<sup>1<\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With wages lower and consumer prices trending down, we\u2019re closer to the end of the rate-hike cycle than in the beginning. So stay tuned! The next Fed meeting is in September, but Federal Reserve officials will be making several speeches during the next few weeks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">1. CNBC.com, July 26, 2023. \u201cFed approves hike that takes interest rates to highest level in more than 22 years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8212;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Originally Posted August 9, 2023 &#8211; <a href=\"https:\/\/investing.interactiveadvisors.com\/2023\/08\/why-the-fed-is-focused-on-your-paycheck\">Why the Fed is focused on your paycheck<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Disclosure:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. This information is not intended to be individual or personalized investment or tax advice and should not be used for trading purposes. Please consult a financial advisor or tax professional for more information regarding your investment and\/or tax situation.&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Reserve has a dual mandate\u2014manage inflation and maximize employment. But sometimes, those economic goals conflict with each other.<\/p>\n","protected":false},"author":186,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[18,6,8,9,26,3],"tags":[77,12507],"contributors-categories":[13605],"class_list":["post-194815","post","type-post","status-publish","format-standard","category-macro","category-north-america","category-region","category-securities","category-text-articles","category-traders-insight","tag-fed","tag-wage-growth","contributors-categories-interactive-advisors"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v28.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why the Fed is Focused on your Paycheck | Traders&#039; Insight<\/title>\n<meta name=\"description\" content=\"The Federal Reserve has a dual mandate\u2014manage inflation and maximize employment. 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