Today Jerome Powell, Chairman of the Federal Reserve will answer questions on the first major Stimulus Plan.Read more
None of this is news to any of you who have worked in a large corporation or bureaucracy: a new boss comes in, and the old line establishment is dead set against him. Oh, there doesn't have to be any particular reason, they just don't like change. And so they begin to slow walk everything, to cut against his objectives, and generally make life miserable for the new leader. For the past 3 years we've seen the same thing aimed at President Trump. Only this time the steaks in this struggle are much higher. When you consider that Trump is the Chief Executive of a work-force of over 2 million people, perhaps this should come as no surprise.Read more
Forget the polls, ignore the impeachment, if you really want to know who will win the Presidential Election: watch the Federal Reserve.Read more
From my perspective, the markets are currently living in a time of “known unknowns.” That is we know that there are certain things that will play out in a way we don't exactly know, but we feel comfortable that we can handle any eventuality. In the stock market there is always a whole list of things like this. We don't know, for instance, what the comings corporate earnings will be. But we're comfortable, that they will fall within an anticipated range. Next week we will get the latest number on the Gross Domestic Product, we don't know exactly what that will be, but current estimates are that it will be about the same as the last estimate, a 2.1% growth rate. And we are comfortable with that. Same with interest rates, also announced next week. We're comfortable that they will remain about where they are. And so it goes throughout the financial world right now. We think we know what lies ahead, and we're reasonably assured that it will be a smooth ride ahead.Read more
As you know the United States is currently billions of dollars in the hole each year in their trade with China. According to the latest figures from the Census Bureau, which keeps track of these things. The US Trade Deficit with China exceeded $360 billion dollars last year. Clearly that is not a number that is sustainable over time. And no rational nation would seek to continue such a relationship. So the goal of the Trump Administration is clear, stop the bleeding. Bring trade from China, somewhere close to balance.Read more
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