On today's episode of Wealth!, Host Brad Smith breaks down key stories impacting your personal finances, from the risk of a recession to new housing propositions from the Harris administration.

Stocks (^DJI, ^IXIC, ^GSPC) are recovering as markets look to the Federal Reserve to cut interest rates in September amid signs of cooling inflation. Allspring Global Investments senior portfolio manager and head of global liquidity solutions Jeff Weaver highlights July's CPI data, calling it "good for the Fed," as well as markets and consumers. He notes the economy remains "strong," with interest rates coming down incrementally, "and that's what's driving a lot of flows." One risk Weaver points out is a rise in the unemployment rate.

August's consumer sentiment data topped economist estimates, as reported by the University of Michigan, showing an increase for the first time in five months. This positive trend aligns with strong retail sales figures for July and robust earnings reports from retail giants like Walmart (WMT), all suggesting continued consumer resiliency. Yahoo Finance anchor Julie Hyman delves into the details, analyzing what all this data reveals about the current state of the consumer.

H&R Block (HRB) shares are trading higher following the company's fourth-quarter earnings beat on both top and bottom lines, driven by its artificial intelligence initiatives. H&R Block CEO Jeff Jones emphasizes that while the company is "known for consumer tax preparation," they're diversifying into areas such as small business services and mobile banking.

Mortgage rates ticked higher this week, however, they have been trending downward over the last year. William Raveis Mortgage regional vice president Melissa Cohn elaborates on what it will take to get people back to the housing market in droves: "If we want to see the floodgates open, I would say that the rate has to go down to 5.5%. But the fact that we're down to 6.5% or just below that, or if you think about it, we were not too long ago hovering in the mid-sevens. I think that every quarter percent cut in interest rates will sort of bring that next level or next group of buyers back into the marketplace."

Vice President Kamala Harris's campaign has outlined some big plans for revitalizing the housing industry, from the construction of 3 million new homes over the next four years to tax incentives for builders who construct starter homes. Author of Your Money Playbook and former NFL player Brandon Copeland notes that one of the biggest fears young people have today is whether they will ever be able to afford the home of their dreams.

This post was written by Melanie Riehl