Fed actions have helped cool inflation, without pushing the economy into a recession, at least so far.
Read MoreNever underestimate the ability of Americans to bounce back from hard economic times.
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Covid-19 has wreaked havoc across the world. What started as a health pandemic quickly became a financial pandemic and now the two are intertwined. What does that mean for the second half of the year? And more importantly, how should you prepare for another six months living amid the dual threat of a health and financial pandemic?
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For the first time in a decade, the Federal Reserve is likely to cut interest rates. Citing the “crosscurrents” of slowing global growth, uncertainty over trade policy, and static prices, the central bank will preemptively shave 0.25 percent from the fed funds rate, putting the new range at 2-2.25 percent.
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While many were enjoying an extended break last week, there was good news and bad news on the financial independence front. For the economy, independence from a Federal Reserve rate cut proved to be the right course of action, at least for now.
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Amid renewed Presidential criticism and evidence of a slowing economy, Fed officials will convene a two-day policy meeting this week and the pressure is on. As always, central bankers have to balance maintaining a strong enough economy to foster job growth, but it can’t run too hot, which might trigger inflation. Right now, there’s a battle brewing inside the collective Fed’s Head between action and inaction.
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Stocks reversed multi-week losses and you can thank Federal Reserve Chairman Jerome Powell. The week began with hand wringing over the potential Mexican tariffs. On Tuesday, Powell announced that the central bank was keeping an eye on trade developments, their impact on the U.S. economy, and would “act as appropriate to sustain the expansion.”
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The government reported that the economy added a better than expected 263,000 jobs in April. It was the 103rd straight month of job growth, the longest streak on record. Nearly ten years into the expansion, job creation is 205,000 for the first four months of 2019, just above the monthly amount added since the labor market bottomed out in 2010.
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