VZ - Dividend Harvesting Portfolio Week 162: $16200 Allocated $1450.45 In Projected Dividends

2024-04-11 09:00:00 ET

Summary

• Minneapolis Federal Reserve Bank President's comments spooked markets, but they rebounded by the end of the week.
• The Dividend Harvesting Portfolio had a down week, but is still up 11.57% on invested capital.
• Dividend income in the portfolio is growing, with a goal of generating $100 per month.

Well, Minneapolis Federal Reserve Bank President Neel Kashkari spooked the markets on Thursday, indicating that rate cuts may not occur in 2024 if inflation doesn't continue to fall. The investment community must have realized that Mr. Kashkari isn't a voting member of the Fed because the market rebounded on Friday to close out the week with the S&P 500 up 1.11%. Ultimately, the markets did finish in the red for the week as the S&P 500 declined by -1.09% while the Nasdaq fell -1.30%. All eyes will be on the upcoming CPI print on Wednesday, April 10 ^th, while I am sure many will be scouring through the release of the FOMC minutes. The February CPI print came in at 3.2%, and the consensus estimate for March is 3.4%. Core CPI, on the other hand, came in at 3.8% and is expected to decline to 3.7% when the March report hits the wire. I am not discounting what Mr. Kashkari said, but I am waiting to form an opinion based on the CPI prints and what Raphael Bostic and Mary Daly say in their speeches this week. Ultimately, as a long-term investor, I am able to roll with the punches, and if the market gets spooked, I will happily buy the dip. I do think we're going to see cuts this year as there is too much debt maturing over the next year that needs to be refinanced, and the last thing the Fed wants is for the regional banking system to become strained again....

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