Flurry of U.S. economic data supports a thawing economy

In this week’s market update:

  • Positive U.S. economic data reports indicate a rebounding economy; U.S. Federal Reserve (Fed) gives little insight to timing of interest rate hikes
  • Bank of Japan policy announcement reveals no change for monetary policy in near future
  • European equity markets slide due to strengthening euro and rising interest rates

On this week’s Market Week in Review video, Investment Strategist Paul Eitelman offers insight to the onslaught of U.S. economic data released this week as well as Wednesday’s uneventful Fed statement. Eitelman further explains three things the Fed will likely consider when deciding the timing of an interest rate hike and stresses how this week’s economic reports continues to tell the story of a rebounding U.S. economy, supporting Russell Investments’ long-held view that September remains the most likely scenario for the Fed to begin raising interest rates.

Blair Lowman hosts this week’s market update, which also reviews the Bank of Japan’s policy announcement, which offered little insight to the possibility of increasing the country’s ongoing quantitative easing (QE) program in the near future. Regarding Europe, Eitelman concludes his remarks by reviewing the downward pressure felt among European equity markets and reassures investors that while a strengthening euro and higher interest rates may have negatively impacted equity euro-area markets last week, Europe’s long-term outlook remains strong.