Goldman, Morgan Stanley raise GDP outlooks, and Goldman says jobless rate could be lowest since 1953
The raft of upbeat signals recently is causing some key Wall Street economists to push up their expectations for economic growth. Both Goldman Sachs and Morgan Stanley have nudged their estimates higher for the full year in 2018. Under the...
Trump may not like Powell rate hike policy, but stocks give Fed chair high marks in first six months
President Donald Trump may not like the Fed’s interest rate policies, but the stock market doesn’t seem to mind — and it has been outperforming during Fed Chairman Jerome Powell’s first six months in office when compared with the early...
Cohn slams Facebook: ‘Banks were more responsible citizens in ’08 than some of the social media companies are today’
Former Goldman Sachs President Gary Cohn reportedly believes that banks were more trustworthy in 2008 than social media companies are today. “It’s very interesting how the world turns,” Cohn said Saturday, referring to social media’s role in the spread of...
‘Too little too late’: Bankruptcy booms among older Americans
For a rapidly growing share of older Americans, traditional ideas about life in retirement are being upended by a dismal reality: bankruptcy. The signs of potential trouble — vanishing pensions, soaring medical expenses, inadequate savings — have been building for...
Hayman Capital’s Kyle Bass says US has the leverage to fight Trump’s trade war
Hayman Capital Management founder Kyle Bass said the U.S. has the upper hand during trade negotiations with China and doesn’t see the depreciation of China’s currency as problematic. “I think that we have the leverage here. China’s been fighting a...
San Francisco proposes an end to free tech lunches
There’s no such thing as a free lunch. And in San Francisco, where complimentary in-house meals have become one of the most attractive perks that some tech companies based here offer their employees, local restaurants are paying the price. Some...
‘Respect’ the bond market and what it’s trying to tell us, Fed’s Bullard warns
Federal Reserve member James Bullard told CNBC that changes in the bond market are the main focus point for investors at the moment. In particular, Bullard mentioned that investors are carefully tracking the yield curve to check whether a potential...
Germany’s huge trade surpluses are a burden on its EU partners
While few European states can pretend to share Germany’s distinction of being a “country of poets and thinkers,” none can rival German abilities to extract so much wealth from the rest of the European Union. Last year, Germany posted a...
‘They’re protectionist’: Fed’s James Bullard says other countries won’t wipe out tariffs with the US
Countries espousing free trade in response to U.S. trade war threats should just drop all their own tariffs to zero — but they won’t, St. Louis Federal Reserve Bank President James Bullard told CNBC on Monday. “The positioning here is...
Fed member James Bullard challenges the idea that recession is inevitable
Federal Reserve member James Bullard told CNBC that traders should not be waiting for an “inevitable recession” and spoke of a solid outlook for the U.S. economy. “We should always plan for the worse and hope for the best. I...
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