On February 23, Jerome H. Powell, the Federal Reserve chair, testified to lawmakers on the economic rebound from the pandemic recession and the threat of future inflation. Equity markets continue to trade wildly as GameStop and Tesla continue to attract speculators as the Fed is seen as a savior no matter what. We all know […]
Growing up in the NY area allows you to come across many walks of life. Johnnie was a great guy who loved life. Johnnie loved to spend and loved to borrow from every loan shark in town. Johnnie was a friend and asked me for a small loan. I asked Johnnie if this loan would […]
In a surprising event on Wednesday, the Democrats managed to turn both Georgia Senate seats blue giving them a slim majority in both houses of government. Given the Democrats’ control of the Congress, the Senate, and White House, markets finally got the so-called blue wave scenario, however narrow. Democrats controlled the Presidency and both chambers […]
For most of us, 2020 has been a year that we never could have imagined at the end of 2019. The idea that governments would choose what businesses could be open which ones could close would have seemed impossible in this country. Who could have imagined that 2020 would see the stock market reach record […]
Gold hit an all-time high in price during the beginning of August of 2020. Since then gold has fallen approximately 13% after a great run from 1,480 to 2,060 in five months. One of the toughest things to do as an investor is to stay the course. Weak hands selling their gold creating downward pressure […]
Fed member warns about high corporate debt and possible negative shocks Trump may nominate conservative who favors gold standard to Fed Dow Jones Industrial average closes lower for the fourth week in a row
A month-over-month drop in housing sales of 6.4% in December was one of the largest in history that did not involve a major change in government policy. December capped a 2018 that was dismal for the housing market and left sales at a 3-year low. The December sales plunge was well below the 1% drop […]
Just one week after former Federal Reserve Chair Janet Yellen warned of another 2008-style economic crisis, another former Fed Chairman issued an even more somber economic warning. Alan Greenspan, who served as Federal Reserve Chairman for near 20 years under four presidents, said investors should, run for cover amidst recent stock market volatility.
Janet Yellen, who served as Chairwoman of the Federal Reserve from 2014 until February 2018, made worrisome statements on Monday regarding the economic outlook for the US.
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