The US Federal Reserve did not change its policy at the July Monetary Committee, leaving its key rate at 5.25-5.50%. But it is almost certain that it will lower the money rent at its next meeting in September. The Fed Chairman acknowledged that inflationary pressures were easing while increasing job risks.
In July, the US economy created only 114,000 jobs, well below the monthly average of 215,000 over the past 12 months. The unemployment rate has risen to 4.3%, its highest level since October 2021.
Lower interest rates will allow the US economy to continue expanding. Buy US equities and dollar bonds as part of a defensive, neutral or dynamic portfolio.