The Lowry Letter®

Week of 6/22/2024

The markets have had a good year so far. We expect volatility to pick up with proximity to the election, but this is not a good reason to abandon sound, long-term financial plans.

The Bank of England may delay cutting interest because the spending of incoming Taylor Swift fans will keep inflationary pressure high. The Swift effect is real.

If you haven’t already updated your Windows computer, a new wifi vulnerability poses a real danger and you should address it right away.

Human readers thought that AI-written restaurant reviews were more human than actual human-written reviews. An interesting development, but not that strange if you have read a lot of Yelp reviews.

Intel is building a massive new facility in Ohio to manufacture semiconductors. Part of the process includes moving massive loads (hundreds of thousands of pounds!) over Ohio highways. The logistical feat will require road closures and a lot of planning, so if you travel through Ohio this summer, do some research ahead of time!

A fan ran onto a baseball field and was taken down by a well-aimed police taser. These images capture the moment vividly. As they say, “Play stupid games, win stupid prizes.”

Q: Your video talked about the Federal Reserve not cutting rates as much as they have indicated. Is that still how you feel?

A: Yes. Inflation has remained higher than is preferable, while the economy has continued to grow and employment has remained strong. We would need to see inflation fall below 3% and/or weakness in the economy for the Fed to feel compelled to act this year.

So we are in the “maybe no cut in 2024” camp. For you, this means higher rates for savings accounts and mortgage rates remaining higher for longer, with related economic impacts.

Inflation is a little better, but more is needed to indicate a downward trend.

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Advisory Services offered through Lowry Financial Advisors, Inc., a Registered Investment Adviser. Securities and additional advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Advisory services offered through Lowry Financial Advisors, Inc, are separate and unrelated to Commonwealth. Lowry Financial Advisors, Inc. is located at 12921 SW 1st Rd, Suite 215, Tioga, FL 32669. 352-333-7990

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