News and Trends
744,000 Americans file for first-time jobless benefits- Fox Business--4.8.21
The number of Americans filing for first-time unemployment benefits unexpectedly rose last week, according to the Labor Department. Data showed that 744,000 Americans filed for first-time jobless claims, while analysts were expecting 680,000 filings.
War On Cash: The Next Phase Begins- Zero Hedge--4.8.21
Cash prevents central banks from imposing negative interest rates because if they did, people would withdraw their cash from the banking system. Once money is all digital, you won't have the option of withdrawing your cash.
Generation Unemployed: Another Class Of Graduates Faces Pandemic-Scarred Future- NPR--4.5.21
The job market is starting to come back, but college seniors will face a different reality. The problem for students is that youth unemployment remains stubbornly high and when the economy tumbles, the job market tends to be worse for young people.
US Dollar's Status As Dominant "Global Reserve Currency" Drops To 25-Year Low- Zero Hedge--4.1.21
The global share of US-dollar-denominated exchange reserves dropped to 59.0% in the fourth quarter, according to IMF data. This matches the 25-year low of 1995.
The Fed has embraced the ‘punchbowl’ and has no intention of taking it away- CNBC--3.26.21
The Federal Reserve has vowed to continue keeping policy loose and some investing experts are leery of the Fed's stance. One expert says that the Fed has no intention of tightening policy even in the face of roaring bull markets across several asset classes.
IMF warns of 'diverging recoveries' post-pandemic- Yahoo! News--3.25.21
The IMF has warned of "diverging recoveries" among global economies as they struggle with the ongoing Covid-19 pandemic. The overall global economic is showing improvement, but many countries and people are getting left behind.
U.S. Personal Income Growth Highest Ever Last Year on Stimulus - MSN--3.25.21
Americans earned an additional $1.1 trillion last year, the most ever in data dating back to 1930, thanks entirely to stimulus checks and other government aid.
Inflation is 'a real threat': former White House chief of staff- Yahoo! Finance--3.24.21
The White House is reportedly crafting its next priority, a $3 trillion infrastructure plan. This big spending push adds to an already soaring national deficit. The additional money being pumped into the economy is a formula for inflation.
How high are gas prices going to go? National average soars to $2.87 a gallon as consumer demand grows- USA Today--3.24.21
Gas prices in the U.S. reached an average of $2.87 a gallon over the past week. The national average for gas prices during the same time last year was set at $2.10, making a more than 25% increase.
The Bubble Of Everything: How A Debt-Driven Economy Creates More Frequent Crises- BBN Times--3.17.21
Global recoveries are taking longer and happen slower and since 1975, almost all economies end the recession period with more debt than before. Global debt is now at all-time highs because governments and central banks see debt, oversupply and bubbles as small collateral damages of a greater good.
Fed sees stronger economy and higher inflation, but no rate hikes- CNBC--3.17.21
The Fed has decided to keep rates near zero and will maintain the current pace of asset purchases. Officials have also upgraded expectations for GDP growth and inflation which cutting estimates for the unemployment rate.
A new law would force employees to contribute to their 401(k) - Market Watch--3.17.21
Only half of Americans participate in a workplace retirement plan and a new law could require employers to auto-enroll workers into their retirement savings programs.
Investors now fear inflation and the Fed more than Covid, Bank of America survey shows- CNBC--3.16.21
According to the latest Bank of America Fund Manager Survey, investors now fear inflation and the Fed more than Covid. Respondents believe inflation is now the biggest "tail risk," or outlier event, that could cause the most damage.
Why this week’s Fed meeting could be ‘March madness’ for markets- CNBC--3.15.21
The Fed's easy policies will be in the spotlight on Wednesday as Fed Chairman Jerome Powell speaks to the press after the Fed's two-day policy meeting. The Fed plans on releasing new economic and interest rate forecasts and the chairman could begin to reveal some views on the future path of Fed policy.
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