Economy

Did Fed Chair Powell Just Wink and Commit to More Rate Cuts?

Posted: August 23, 2019 at 10:50 am

Federal Reserve Chair Jerome Powell spoke in Jackson Hole, Wyoming, on Friday at the Challenges for Monetary Policy annual symposium. The notion that the title includes "Challenges" should speak for ...
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It’s Minus 58 Degrees Here Now, and Getting Colder

Posted: August 23, 2019 at 8:50 am

As most of the news about climate change now involves the spikes in world temperatures, there are still places where it is not unusual for the readings to be −50°F ...
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Eurozone PMI Rises Slightly, but Trouble Remains

Posted: August 22, 2019 at 6:40 am

Research firm Markit has posted its monthly Purchasing Managers' Index for the eurozone. A slowing world economy was reflected in the numbers, although they rose slightly from recent lows. According ...
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FOMC Minutes Contain Few Game-Changing Views

Posted: August 21, 2019 at 2:47 pm

If the Federal Reserve's Federal Open Market Committee decision on interest rates at the end of July wasn't strong enough, there is another chance to evaluate the same data from ...
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CBO Boosts Federal Deficit Projection by $809 Billion

Posted: August 21, 2019 at 1:15 pm

In May, the Congressional Budget Office (CBO) projected a 10-year federal budget deficit of $11.4 trillion. In its latest projection, released Wednesday, the CBO predicts the 10-year deficit will increase ...
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Defying Logic: Germany Sells 30-Year Bonds for Negative Yields

Posted: August 21, 2019 at 12:10 pm

The media loves pointing to the inverted yield curve, negative interest rates and the imminent recession. There might be a reason why it matters, even if the media keeps jumping ...
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Cherokee Nation Set to Exercise Right to Representation in Congress

Posted: August 21, 2019 at 11:17 am

In December 1835, a minority party of Cherokees signed the Treaty of New Echota with the U.S. government. In exchange for $5 million and new lands in what was then ...
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Interest Rates to Remain Low Through 2020 Say Business Economists

Posted: August 19, 2019 at 10:05 am

Just over half (52%) of economists who responded to the National Association of Business Economists' (NABE) July survey think that the federal funds rate will be 2% or less by ...
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US Corporations: Not Just for Shareholders Any More

Posted: August 19, 2019 at 8:48 am

One of the country's most influential business organizations on Monday turned the world, if not upside down, at least 90 degrees. The Business Roundtable, comprised of chief executives of U.S. ...
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How Much Would the US Have to Pay for Greenland? Maybe Half a Trillion Dollars.

Posted: August 19, 2019 at 6:37 am

The Trump administration has repeated its interest in the purchase of Greenland. The world’s largest island is currently owned by the Kingdom of Denmark and is officially an autonomous country, ...
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Argentina’s Chance of Default Soars

Posted: August 17, 2019 at 8:25 am

Credit rating agency Fitch believes that the financial and political unrest in Argentina has substantially increased the chance it will default on its sovereign debt. That could deeply trouble the ...
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August Consumer Sentiment Index Plunges on Recession Fears

Posted: August 16, 2019 at 10:40 am

The final University of Michigan preliminary Consumer Sentiment Index for August fell month over month from 98.4 to 92.1. Economists polled by Bloomberg were expecting a preliminary August reading of ...
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WTO Reports Weakening Global Trade in Goods

Posted: August 16, 2019 at 9:25 am

The World Trade Organization (WTO) on Thursday published its Goods Trade Barometer, a revamped version of its World Trade Outlook Indicator. By any name, the news is not encouraging. Global ...
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IRS Budget Cuts Cost $34 Billion in Lost US Tax Revenue

Posted: August 15, 2019 at 3:41 pm

In a 2016 tax gap review by the U.S. Internal Revenue Service (IRS), the agency estimated that U.S. individual and business taxpayers had avoided paying $406 billion because they underreported ...
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How Much the $7 Billion Fantasy Football Business Costs Other Employers

Posted: August 15, 2019 at 1:56 pm

In 2017, the fantasy football business is estimated to have raked in more than $7 billion from some 59 million U.S. and Canadian punters. The global market for all fantasy ...
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