Wall Street Webcasting has prepared and provided for you an exclusive broadcast of Wells Fargo Securities own, Rich Gordon. Gordon is highly recognized for his weekly narrates regarding the fixed income strategy at Wells Fargo Securities (NYSE: WFC). This week, Gordon discusses the impact that the recent negative economic data may have on the Fed’s decision on when they will begin to taper down on asset purchases.
Most investors were anticipating the Fed to disclose their plan of action regarding tapering at their upcoming meeting on September 18th, 2013, and for that plan to go into action beginning in October. However, most of the economic data recently has proven to be disconcerting. In the month of August, 169,000 jobs were added to the economy, which fell short of the foreseen 180,000. The most influential piece of data, however, is the downward modifications to June and July’s readings. The question has been posed as to whether or not this data is bad enough to alter the Fed’s approach to tapering.
There is some light to be shed on the current situation. Perhaps the best indicators of the economic status are the ISM readings. The current numbers for the ISM came in reasonably above 50, which is the highest that it has been in the past year. We think that this factor alone is enough to keep the Fed on track to begin tapering down on asset purchases.
To hear more reasons why our economic analysts are optimistic in regards to the Fed’s plan to begin tapering, please tune into Wells Fargo Securities’ latest video.
Please visit the following link to view the video:
http://www.wsw.com/webcast/wav/
Contacts:
Heather N. Capizzi, 201-683-2100
