Source: US Dept. of Treasury End of Day
• Interest rates made their way lower over the week with two-year Treasury note yields decreasing by 14 basis points to 3.92% while the five-year note yields fell by 11 basis points to 3.65%.
• Federal Reserve Chairman J. Powell delivered remarks out of the Jackson Hole symposium stating that the time has come for the FOMC to begin lowering interest rates.
• Consensus forecasts are calling for a 25 basis point reduction in the Fed funds rate at the upcoming meeting slated for September 18th, however, Chair Powell left the door open to a 50 basis point reduction should the labor weaken significantly.
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