December 9, 2019

The U.S. consumer continues to be one of the bright spots in the global economy.  Indeed, U.S. consumers continue to spend as if they have plenty of money, and they do.  The purchasing power of consumers continues to rise in record-setting territory.  Similarly, the U.S. consumer debt service ratio, that is the level of debt payments comp...

November 25, 2019

It has been an exceptional year for stocks and the S&P 500 is hitting new highs.  The rally continues to be broad, with all the S&P 500 sectors but energy posting double digit gains this year.  Of course, it is at just these points that we begin to wonder how long the rally can last.  Certainly, the stock market is not cheap, but this ral...

October 14, 2019

The Dow fell 1.6% last Tuesday on news that Trump was expanding the trade war with China.  Since that time the Dow rose 2.7% on rumors that a deal was imminent.  The trade war remains one of the most substantial risks to the global economy and the market appears to be spinning on news and partial news.  Friday was a good example when the...

September 9, 2019

With the Federal Reserve once again in the news, it is worth discussing this important organization and its role in the economy and investing.  The Federal Reserve System (or more simply the “Fed”) is the central bank of the United States.  The overall system is comprised of 12 regional Federal Reserve Banks that support the needs of loca...

August 5, 2019

The Federal Reserve lowered the Federal Funds target interest rate by .25% this past week to 2.25%, marking the first Federal Reserve interest rate decrease in 10 years, and a shift in policy to stimulate the economy.  The move was remarkable since it comes at a time when unemployment is at 3.7% and the economy, by most measures, is still...

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