The US stock market today looks a lot like it did at the peak before all 13 previous price collapses. That doesn't mean that a bear market is imminent, but it does amount to a stark warning against complacency.
The big news today wasn't the Federal Reserve's decision to start gradually reducing its balance sheet in October. Almost everyone expected that. Instead, the big news was that twelve of the sixteen members of the Fed's interest-rate setting body – the Federal Open Market Committee – think the Fed will be raising interest rates by at least 25 basis points later this year.
No one expects the Federal Reserve to raise rates at the meeting this week. A rate change of any kind, either up or down, would be a complete stunner. Instead, the big news on monetary policy this week is very likely to be the Federal Reserve announcing it will begin gradually trimming its balance sheet at the start of October.
The emergence of “responsible investment” solutions has created an opportunity for clients to approach their portfolios more holistically and in line with their beliefs and values. The historical perception of a trade-off between optimizing returns and reflecting values is a false dichotomy.
In the 80 years since Keynes published his General Theory, few questions have been as controversial as whether or not government spending can stimulate a weak economy. New research shows that stimulus spending indeed does work, even for countries facing high debt burdens, unemployment and inflation.
The Panic of 2008 was damaging in more ways than people think. Yes, there were dramatic losses for investors and homeowners, but these markets have recovered. What hasn't gone back to normal is the size and scope of Washington DC, especially the Federal Reserve. It's time for that to change.
Rapid technological advances are transforming the global workplace. But fears that automation will permanently destroy American jobs are misplaced, according to Joe Davis. Instead, the jobs that require “uniquely human” skills will proliferate, Davis said.
The hits keep coming. Hurricane Harvey left destruction in its wake, and now, Hurricane Irma has Florida in its sights.
Think that title sounds familiar? It is. We've been here before. And, as before, the "debt ceiling" is a gold mine for some politicians, journalists and analysts. A possible government shutdown, or reaching a "hard" debt ceiling, are both fun for pessimists to talk about.