Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Barr says US banking system is ‘sound and resilient’ Vice chair of the Federal Reserve Michael Barr said on CNBC this week that we have no need to worry about our banking system in the wake of Silicon Valley Bank’s collapse. Crypto prices drop as CFTC sues Binance for… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Interest rate decision expected this week The Fed will announce a decision on interest rates this week, and many economists expect them to be lowered. Those who think rates will be raised again say it would confirm that we are headed toward a recession. The decision is expected Wednesday.… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. President Biden assures Americans that the banking system is safe amid Silicon Valley Bank collapse President Biden reassured Americans that their deposits in the banking system are safe and that his administration will take action to contain Silicon Valley Bank’s collapse. He explained how his administration will protect small… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. China is booming as Zero Covid approach ends The Chinese economy is heating up, with manufacturing growing at its highest rate in a decade. The improvement is due to the widespread loosening of restrictions which brought millions of people back to work and bodes well for the world economy.… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Inflation measures surged at the fastest rate since last June Consumer prices rose 0.6% from December to January, the fastest pace since June. Core inflation was up 4.7% compared to this time last year. Consumer spending rose 1.8% from December to January. Government takes action against crypto industry Last… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Meta follows in the footsteps of Twitter Mark Zuckerburg announced that Meta is launching a pay-for-verification subscription service called Meta Verified for Facebook and Instagram, much like Twitter Blue. The launch begins in Australia and New Zealand this week, with more countries to follow. Nearly 1.1 million cars recalled… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Is the U.S. economy really heading for a recession? Here’s what the economists think While many economists believe the U.S. is headed for a recession, the Bureau of Labor Statistics reports that the unemployment rate remains at 3.5%, the lowest in around 50 years. Economists say the country could… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. The Fair Tax Act explained A group of House Republicans is supporting the Fair Tax Act, which would eliminate income, payroll, estate and gift taxes and replace them with a 23% national sales tax. However, it’s unlikely to make it through the Democrat-controlled Senate. No more free grocery deliveries… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. The government hits its debt ceiling The treasury secretary said the government would suspend debt issuance and investments into two government employee retirement funds until Congress acts. Microsoft throws its weight behind OpenAI Microsoft is making a multibillion-dollar investment in the artificial intelligence startup OpenAI, which makes ChatGPT, DALL-E… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. How will this recession be different from 2008? Economists predict a recession will arrive by the end of this year, but the downturn will likely play out much differently than it did in 2008. Leaders descend on Davos to talk about economics The World Economic Forum (WEF) returned to… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Layoffs ahead for Goldman Sachs According to a person familiar with the matter, Goldman Sachs will lay off as many as 3,200 employees this week. The bank has been hit by a slump in global activity. Investors weigh their chances against further rate hikes Money market bets are showing… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Stocks aren’t strong heading into the holiday season Wall Street closed lower on Monday for a fourth straight session, with investors avoiding riskier bets. They worry that the Fed’s tightening campaign could push the economy into a recession. Jan. 6 committee recommends criminal charges The January 6 Committee recommended… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. NSW builder goes into voluntary administration due to rising costs and pandemic effects Elderton Homes, a major New South Wales builder, has plunged into administration after catastrophic weather events, the pandemic, and rising materials costs made business too costly to continue. ABS data shows that payroll jobs are up,… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. A weak start for stocks as we wait for the Fed’s next announcement Stocks started the week with a tumble on Monday, due to fears that the Federal Reserve may continue tightening until it tips the economy into a recession. Cryptocurrency exchange founder pledges to testify Former FTX CEO… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. RBA governor says it’s “regrettable” that some Australians now have mortgages they can’t afford At a Senate estimates hearing on Monday, Reserve Bank governor Philip Lowe apologised to Australians who took out a home loan due to the RBA’s guidance that interest rates would stay the same until 2024.… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Bob Iger returns to steer Disney through tough economic times The former CEO has agreed to serve another two years for the company effective immediately. Disney highlighted a fivefold market value increase under his leadership, adding that he had a “mandate from the board to set the strategic direction… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Fed hints that it may soon slow interest rate hikes Federal Reserve Vice Chair Lael Brainard indicated Monday that the central bank could soon ease up on its aggressive interest rate hikes, saying that it may soon be appropriate to move to a slower pace. Stock market steadies as… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Oil prices dip in response to China’s Covid containment strategy As rumors swirled that China would be easing its zero-Covid policy, oil prices began to climb. However, they fell again on Monday when Chinese government officials signaled that the government has no intention of changing directions. Sweeping changes continue… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. The Dow Jones had a really great October The Dow tumbled a bit on October 31, but despite that was still up 14% for the month. That means it had its best monthly gain since January 1976. Most people have stopped making retirement contributions A new report from Allianz… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Stock markets start the week strong All three major indexes were up on Monday – a welcome change from the volatile conditions of recent months. Investors seem optimistic as we await earnings calls, with numbers from big tech firms expected later this week. Goldman Sachs fears “accidental recession” Goldman… Read more