https://www.schwab.com/resource-center/insights/content/final-cut-or-more-to-come?cmp=em-QYBThe Final Cut … or More to Come
In sum
We continue to recommend investors stay close to their strategic equity allocations and limit bets in either direction. As noted by Powell, trade continues to be an important factor in gauging the trajectory of the economy from here. For now, there is a fairly firm dividing line between the beleaguered manufacturing side of the economy and the healthier consumer side. The likely transmission mechanism for the former morphing into the latter is through the employment channel—one of the Fed’s two mandates. That remains key to watch between now and the next FOMC meeting.
