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Remember way back in August, when economists and investors were gnashing their teeth about a looming recession? For the last three months, economic data have mostly improved, underscored by the just-released boffo November jobs report.
Do $1 Trillion Deficits Matter?
Late last week, we learned that the U.S. budget deficit widened to $984.4 billion in the fiscal year ending September 30, its highest level in seven years. The Trump administration and the Congressional Budget Office expect the deficit to rise over $1 trillion in the 2020 budget year, which began October 1 and the CBO estimates that the deficit will stay above $1 trillion over the next decade.
Preparing for Armageddon
Given the fighting in Syria, anti-government protests in Hong Kong, the down to the wire vote on Brexit, the expanding U.S. impeachment inquiry, not to mention ongoing trade conflicts between the U.S. and China, the U.S. and the European Union and South Korea and Japan, it’s easy to understand why people are worried about the current state of the globe.
CBS This Morning: Rough Week on Wall Street
Your 401(k) may be taking a hit this week after another sell-off in the markets. The Dow, Nasdaq and S&P each lost more than 1.5% of their value Wednesday, the second straight day of losses. President Trump placed the blame on his political foes, and "impeachment nonsense." I joined CBS This Morning to discuss what's really behind the drop.
Will the Fed Follow the ECB?
Last week, the European Central Bank cut its benchmark interest rate to a record low of -0.5 percent. That’s right, MINUS! Big commercial banks now have to pay the ECB a little bit more for the privilege of keeping money in reserve.
Mixed Jobs Report Bolsters Fed Rate Cut Case
Trump’s Growing Enemies List
CBS Evening News: The Escalating Trade War
President Trump hit China with new tariffs as retaliation for tariffs China slapped on U.S. goods. The escalating trade war has Wall Street worried. Weijia Jiang reports and yours truly makes an appearance!
Stocks Plunge, What You Should Be Doing
Americans saw a big chunk of their stock market savings disappear on Wednesday over fears of an economic recession. During a week like this, what should you be doing? What shouldn't you be doing? That's what this quick episode is all about. Keep calm and carry on!
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CBS This Morning: Recession Fears
Americans saw a big chunk of their stock market savings disappear on Wednesday over fears of an economic recession. The Dow fell 800 points, more than 3%, in the biggest drop of the year. Don Dahler reports and I make an appearance!