News and Trends

World’s Rich Are Rattled and Seeking Old-Fashioned Security- Yahoo! Finance--11.20.19
From London to Switzerland to parts of the U.S., the rich are looking to store precious metals, cash and cryptocurrency. Some people are concerned about the possibility of a global recession while others are avoiding bank deposits as negative interest rates force lenders to charge for holding cash.

Trump threatens higher tariffs if China doesn’t make a trade deal- CNBC--11.19.19
President Donald Trump has threatened higher tariffs on Chinese goods if the country does not make a deal on trade. The comments come during a meeting with the Cabinet on Tuesday.

Fed’s Williams says economy clearly facing several challenges- Market Watch--11.19.19
The U.S. economy is facing several challenges, primarily from overseas. The U.S. economy is facing headwinds from slower global growth, uncertainty from trade policies and muted inflation pressures, according to New York Fed President John Williams.

Trump Says Discussed "Negative Rates" In Unscheduled Monday Meeting With Chair Powell- Zero Hedge--11.18.19
The Fed has announced that Fed Chair Powell met with President Trump and Mnuchin at the White House "to discuss the economy, growth, employment and inflation."

Mood in Beijing about trade deal is pessimistic, government source says- CNBC--11.18.19
Chinese officials were troubled by Trump's comment that there was no agreement on phasing out tariffs, according to a government source. Meanwhile, China is carefully watching the political situation in the U.S.

Middle-income Americans are increasingly ‘financially vulnerable,’ despite strong economy and low unemployment- Market Watch--11.14.19
According to a new report, most Americans are struggling with at least some part of their finances. According to the report, around 17% of Americans are "financially vulnerable."

Americans now have a record $14 trillion in debt- CNN Business--11.13.19
U.S. households are now sitting on a record $14 trillion in debt. Household debt climbed 0.7% during the third quarter and is now about $1.3 trillion higher than the previous peak set in 2008.

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession- USA Today--11.13.19
Fed Chairman Jerome Powell warned lawmakers on Wednesday that the ballooning federal debt could hamper Congress' ability to support the economy in a downturn. Powell also urged lawmakers to put the budget "on a sustainable path."

US-China trade talks are getting held up because of disagreements on a number of issues- CNBC--11.13.19
The U.S. and China have hit a stalemate as the two countries attempt to finalize a limited trade agreement. According to the WSJ, China is hesitant to commit to a specific amount of agricultural products.

Two surveys of global businesses slump to gloomiest level since recession- Market Watch--11.11.19
Two surveys of global businesses show that it is a bad time for the global economy. The IHS Markit global business outlook and the Ifo world economic outlook both fell to their worst levels since 2009.

Rising car prices force man to buy $27,000 Jeep with a $45,000 loan - Market Watch--11.11.19
Consumers, salespeople and lenders are piling on auto loan debt to such a degree that it often exceeds the car's value. About 33% of people who traded in cars to buy new ones in 2019 had negative equity.

A ‘growing club’ of ‘very powerful countries’ is steering away from using the dollar- CNBC--10.31.19
The dollar's global reserve status could come under threat as "very powerful countries" seek to undermine its importance. One expert says some of the major players behind the push include China, Russia and the European Union.

Dow drops on weak economic data, renewed trade worries, mixed earnings- Market Watch--10.31.19
U.S. stocks edged lower after renewed concerns about a U.S.-China trade deal, more evidence of a slowdown in manufacturing, and mixed corporate earnings.

Fed cuts rates for the third time as US economy slows- CNN Business--10.30.19
The Federal Reserve has cut interest rates for the third time this year as the U.S. economy showed continued slowing amid ongoing trade disputes and weak global growth.

US GDP rose a better-than-expected 1.9% in the third quarter as consumers continued to spend- CNBC--10.30.19
Economic activity in the U.S. grew at an annualized rate of 1.9% in the third quarter, down slightly from the 2% pace in the second quarter. While the data came in better than expected, it still showed that the economy was slowing.

US consumer confidence falls for third consecutive month- Reuters--10.29.19
U.S. consumer confidence has fallen for a third consecutive month as optimism about job prospects and business conditions grow weaker. Confidence has been rattled by a global slowdown and a U.S.-China trade war.

The Fed’s next rate decision can’t hide the fact that stocks are overvalued - Market Watch--10.29.19
The stock market is overvalued, and its longer-term prospects are mediocre at best. There isn't anything the Fed could do that will change that.

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