Federal Reserve Chairman Jerome Powell said the relationship between unemployment and inflation has collapsed. “The relationship between the slack in the economy or unemployment and inflation was a strong one fifty years ago … and has gone away,” Powell said on Thursday during his testimony in front of the Senate Banking Committee. He added the
Investing
krisanapong detraphiphat | Moment | Getty Images Well-known venture capital firm Andresseen Horowitz is gearing up to increase its bets on the financial technology space. The Menlo Park, California-based company announced it would hire Credit Karma’s Anish Acharya as its newest general partner in an effort to beef up its investing team with experienced players
The US flag flies over shipping cranes and containers in Long Beach, California on March 4, 2019. Mark Ralston | AFP | Getty Images This upcoming earnings season is shaping up to be a weak one. Because of uncertainty around trade wars and global growth, a bulk of U.S. companies are lowering the bar for
Federal Reserve Chairman Jerome Powell testifies during a House Financial Services Committee hearing on “Monetary Policy and the State of the Economy” in Washington, July 10, 2019. Erin Scott | Reuters All eyes in the financial world turned to Capitol Hill this week as Federal Reserve Chair Jerome Powell gave his semi-annual testimony. In his
Traders working on the floor of the New York Stock Exchange. Drew Angerer | Getty Images After a blowout jobs report, traders still believe the Federal Reserve will cut rates later this month, but less aggressively now. The fed funds futures market is now pointing to a 92% chance of a quarter point rate cut
The logo for the Vanguard Group is shown on correspondence in Zelienople, Pa. Keith Srakocic | AP Vanguard, the non-profit financial giant that single-handedly revolutionized the investment management world, reportedly wants to join the private equity party train. Is this another market that it intends to overhaul by passively managing and micro-pricing index fund offerings
Reed Hastings attends Reed Hastings panel during Netflix ‘See What’s Next’ event at Villa Miani on April 18, 2018 in Rome, Italy. Getty Images With the coming loss of the most popular show on its platform, Netflix needs to show Wall Street it has a content pipeline to keep growing subscribers and satisfy current ones.
Larry Kudlow, Director of the United States National Economic Council. Adam Jeffery | CNBC Larry Kudlow, director of the National Economic Council, is “very optimistic” about the health of the U.S. economy but believes the Federal Reserve should “take back the interest rate hike” it made in December because of low inflation. “We are still
The outlook for Chinese stocks may be risky given the uncertain state of U.S.-China trade relations. But Lewis Kaufman, a portfolio manager at Artisan Partners, thinks investors should buy them anyway. “Regardless of what ultimately happens with the China trade tensions, there is a robustness to China that doesn’t exist anywhere else in the emerging
President Donald Trump speaks during a press conference after the G-20 Summit on June 29, 2019 in Osaka, Japan. Tomohiro Ohsumi | Getty Images President Donald Trump lambasted the Federal Reserve yet again on Friday, saying he thinks the economy will “be breaking records” even though the central bank has rates set too high. “If