Decreasing numbers of job openings and new hires may point to a crumbling labor market. The trend has alarmed some analysts, who say it could lead to significant problems for the U.S. economy. “The takeaway from the range of labor market data is clear—the job market is cooling in a classic pattern that precedes...
Top Federal Reserve officials have indicated that the central bank will begin lowering rates at the end of its September 18, 2024, meeting. However, several economists and analysts believe this action will be too late to prevent a recession. “The Federal Reserve is unlikely to save the day. The economy succumbed to...
The price of gold breached $2,500/oz. for the first time in history on Friday, August 16, 2024, continuing a momentous rally that saw the precious metal break record highs multiple times this year. “Gold thrives from uncertainty…[and] uncertainty is at its peak.” —Sabrin Chowdhury, head of commodities analysis at BMI...
Federal Reserve Chairman Jerome Powell said, “The time has come for policy to adjust” in a speech on Friday August 23, 2024, indicating that the central bank will start cutting interest rates at their next meeting in September. “The direction of travel is clear, and the timing and pace of rate cuts will depend on...
Users of trading platforms such as Charles Schwab, Vanguard, and Fidelity found themselves unable to access their accounts during an episode of extreme market volatility on August 5, 2024, when the Dow dropped 1,000 points. “Every time there’s a large market move, it seems like this happens. It makes you wonder: Have...
Thailand and Malaysia could be the next nations to join the BRICS coalition, an economic bloc of nations founded by Brazil, Russia, India, China, and South Africa that has expressed interest in reducing the global economic power of the U.S. dollar. “Some of us, including people like myself, think that we need to...
A recent assessment by the Office of the Comptroller of the Currency found that half of large American banks are underprepared for potential risks such as cyberattacks. “Successful cyberattacks or major problems at one or more of the leading cloud-computing providers could leave lenders with weak risk management...
Gold prices have recently rallied to a series of new all-time highs. Experts believe that gold’s rally has room to go even higher. “June’s cooling inflation and job market may be enough impetus for the Fed to start cutting rates soon, which, if the cuts start, will likely boost gold.” —Edmund C. Moy, 38th Director of...
The first negative inflation reading in more than four years, as well as dovish testimony from Federal Reserve Chairman Powell, has fueled speculation that the Federal Reserve will cut interest rates sooner than previously expected. This speculation has, in turn, boosted the appeal of non-interest-bearing assets like...
Recent studies conducted by Vanguard and Prudential found that many Americans’ portfolios are underprepared for retirement, despite rising portfolio contributions. “Fifty-five-year-old Americans are far less financially secure than older generations. These challenges are exacerbated by calculations that Social...
Bank of America analysts recently predicted that gold prices will surge to $3,000/oz. by 2026, citing among other reasons a recent survey of central banks by the World Gold Council that found a record level of intent to increase national gold reserves. “Extraordinary market pressure, unprecedented economic...
On June 12, 2024, Federal Reserve officials announced that the central bank had not seen enough progress in inflation to cut interest rates and projected only one rate cut this year. Critics, such as economists Mohamed El-Erian and Claudia Sahm, say these restrictive policies could lead to a recession. “The bad...
