Caution: Stocks Are Historically Overvalued
Investor relations professionals should prepare for what's eventually inevitable: a reversion to the mean for stock prices.
U.S. Budget Deficit Swells to $779B in FY 2018
The White House blames increased spending for the mounting deficit but its own data "suggest falling revenues were a far larger contributor."
Rising Income Gap Threatens U.S. Credit Rating
"Pressures from rising inequality will exacerbate already material fiscal challenges on the horizon," Moody's warns in a report.
IMF Chief Warns of Economic Nationalism Risks
"While it is tempting to sail alone, countries must resist the siren call of self-sufficiency,” Christine Lagarde says.
Consumer Spending Growth Slows to 0.3%
Economists had expected a slowdown in August after five straight strong gains but consumer confidence remains high.
Fed Hikes Rates for Third Time This Year
“My colleagues and I are doing all we can to keep the economy strong, healthy, and moving forward,” Fed Chairman Jerome Powell told reporters.
U.S. Consumer Spending Rises 0.4% in July
Spending has now risen by 0.4% or more for five straight months but "the downside to the economy’s upside is steadily increasing inflation.”
Fed Chair Defends Policy of Gradual Rate Hikes
The current monetary policy addresses both the risk of a slowdown in economic growth and the risk of the economy overheating, Jerome Powell says.
Fed Stays on Track for Gradual Rate Hikes
The central bank didn't raise rates on Wednesday but reiterated that "further gradual increases" would be consistent with economic conditions.
U.S. Business Inventories Rise 0.3% in April
The gain in inventories followed a 0.1% drop in March and was fueled by a 0.5% increase in retail inventories after a 0.7% decline the previous month.
Fed Raises Rates, Expects 2 More Hikes in 2018
The decision to increase rates for the second time this year “is another sign that the U.S. economy is in great shape,” the Fed chairman says.