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☆ What Fed Rate Increases Mean for Mortgages, Credit Cards and More
  + stars: | 2023-05-03 | by ( Tara Siegel Bernard | ) www.nytimes.com   time to read: +1 min
As the Federal Reserve has steadily lifted its key interest rate over the past year, Americans have seen the effects on both sides of the household ledger: Savers benefit from higher yields, but borrowers pay more. The average credit card rate was just over 20 percent as of April 26, according to Bankrate.com, up from around 16 percent in March last year, when the Fed began its series of rate increases. Car LoansCar loans tend to track the five-year Treasury note, which is influenced by the Fed’s key rate — but that’s not the only factor that determines how much you’ll pay. A borrower’s credit history, the type of vehicle, loan term and down payment are all baked into that rate calculation. The average interest rate on new-car loans was 7 percent in March, according to Edmunds, up nearly a percentage point from six months earlier.
☆ Are we in a recession? Elon Musk says the pile of failed banks proves it.
  + stars: | 2023-05-02 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +5 min
As for today, let's see what Elon Musk and Larry Summers have to say about the state of the economy. In any case, ex-Treasury Secretary Larry Summers said recession odds for the next year are now sitting at 70%. These six factors suggest the stock market bottomed last October. Morgan Stanley's top equity strategist Mike Wilson thinks investors are banking too hard on a potential Fed rate cut this year. That discrepancy could set the stock market up for a sell-off, in his view.
☆ De-dollarization and global reserves dominance, explained by a top currency economist and the inventor of the 'dollar smile' theory
  + stars: | 2023-04-29 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +5 min
Stephen Jen, CEO of Eurizon SLJ Eurizon SLJStephen Jen is a leading economist, the cofounder and CEO of Eurizon SLJ, and inventor of the "dollar smile" theory. Phil Rosen: You pointed out recently that the dollar saw a steep erosion in 2022 as a global reserve currency. More likely, we will evolve from a unipolar reserve currency world to a multi-polar world. Here's what he said on a potential "tripolar" reserve currency setup if the dollar loses dominance. And here are the top stories from markets this week:Lauren Simmons, a trader at the New York Stock Exchange.
☆ Here are the two things Wharton Professor Jeremy Siegel is looking for at next week's Fed meeting
  + stars: | 2023-04-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere are the two things Wharton Professor Jeremy Siegel is looking for at next week's Fed meetingWharton School Professor Jeremy Siegel joins 'Squawk Box' to preview Fed's policy meeting next week and what's at stake for markets and investors.
☆ Markets next week have to contend with how aggressive the Fed drumbeat sounds
  + stars: | 2023-04-28 | by ( Scott Schnipper | ) www.cnbc.com   time to read: +8 min
"Is Chairman Powell going to say, 'It is likely that we pause now and assess what the economy is going to do?' "The tone on that balance is going to be very critical to how the market is going to move next week." "What is [Powell] going to do? June Fed meeting The betting on Wall Street right now is that, after next week, the Fed will standpat at its next meeting six weeks later, on June 13-14. Beyond Apple, some 161 other companies in the S & P 500 index are scheduled to report latest-quarter results next week.
☆ 'The equity market is poised to struggle in the weeks and months ahead': Comerica Bank's CIO says the S&P 500 is primed for a 15% drop as weak earnings, high valuations, and a hawkish Fed all work aga
  + stars: | 2023-04-22 | by ( William Edwards | ) www.businessinsider.com   time to read: +6 min
Year-to-date, the S&P 500 is up 8%. Plus, when the Consumer Price Index is between 4-6% like it is now, it usually dictates that the S&P 500 trades at a lower multiple than it is. "For example, at the current S&P 500 P/E of 19, the earnings yield for stocks is 1 divided by 19, or ~5.2%. While he sees 15% downside in the months ahead, he also believes the S&P 500 will return to current levels by the end of 2023. Morgan StanleyWilson has also repeatedly warned of an earnings recession ahead, and recently said that the pullback in lending from banks strengthens his case.
☆ Do You Have Federal Student Debt? We Want to Hear From You.
  + stars: | 2023-04-21 | by ( Tara Siegel Bernard | Ron Lieber | Stacy Cowley | ) www.nytimes.com   time to read: +1 min
If you have federal student debt, you’re probably anxiously waiting for the Supreme Court to decide on whether the Biden administration has the authority to cancel up to $20,000 of those loans. It’s been more than three years since most borrowers have had to make loan payments, which were paused at the start of the pandemic. But once the highest court issues its ruling, which is expected by the end of June, monthly payments are likely to resume within a few months. The uncertainty has left millions of borrowers in a state of limbo and with lingering questions. What sort of repayment plans are available?
☆ Don't be fooled by the strong earnings season as a credit squeeze is set to hit companies' profits, Wharton professor Jeremy Siegel says
  + stars: | 2023-04-19 | by ( Zahra Tayeb | ) www.businessinsider.com   time to read: +2 min
Don't be fooled by the buoyant trend so far in the current earnings season, according to Wharton professor Jeremy Siegel. That's because the effects of an ongoing credit crunch are yet to show up in companies' earnings data, according to him. Siegel said the Fed should therefore pause its interest-rate hikes, but doesn't think policymakers will do so unless economic data worsens. "We're not getting in these earnings what effect the slowdown in lending really might impact the earnings," Siegel told CNBC on Tuesday. That makes it more difficult for American companies to access loans, which threatens to undermine their business operations and earnings.
☆ Opinion | The Battle Over Free Speech on Campus
  + stars: | 2023-04-18 | by ( ) www.nytimes.com   time to read: +1 min
To the Editor:Re “There Are Promising Signs for Free Speech on Campuses,” by David French (column, April 17):I hope Mr. French’s column is correct. Freedom of speech, as provided for in the First Amendment, is a bedrock principle of our constitutional democracy. Its meaning and significance for a free society cannot be misunderstood or minimized. Individuals who profess to believe in free speech demonstrate their commitment to the principle not merely when they support the right of a speaker with whom they agree but also when they show that support for a speaker whose viewpoint is antithetical to their own. Norman SiegelNew YorkThe writer is a civil rights lawyer and a former executive director of the New York Civil Liberties Union.
☆ Watch CNBC's full interview with Wharton professor Jeremy Siegel
  + stars: | 2023-04-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Wharton professor Jeremy SiegelWharton Professor Jeremy Siegel joins 'Halftime Report' to discuss economic data, bank lending constraints suggesting further economic declines, and when the Fed will cut rates.
☆ Wharton's Jeremy Siegel says it may be a rough 3-to-6 months for stocks
  + stars: | 2023-04-12 | by ( Hakyung Kim | Https | Www.Linkedin.Com In Hakyungkim | ) www.cnbc.com   time to read: +2 min
The Federal Reserve has gone too far with its interest rates hikes — creating a difficult upcoming three-to-six months for stocks, Wharton School professor Jeremy Siegel said Wednesday. Siegel said he was bullish on stocks in January. And that's the official forecast of the Fed," Siegel said. It could be more severe than that, which could lead to more decline in earnings," he added. To be sure, Siegel is still bullish on equities for the long term and thinks the markets will tick up in 2024 and 2025.
☆ Don't sell unless you're very tactical and short term: Wharton professor Jeremy Siegel
  + stars: | 2023-04-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDon't sell unless you're very tactical and short term: Wharton professor Jeremy SiegelWharton Professor Jeremy Siegel joins 'Halftime Report' to discuss economic data, bank lending constraints suggesting further economic declines, and when the Fed will cut rates.
☆ Wharton professor Jeremy Siegel reveals his investment plan if a recession hits and reiterates his view that the stock market bottom is in
  + stars: | 2023-04-11 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
Long-time stock market bull Jeremy Siegel is getting more cautious about a potential recession. The Wharton professor said that a slew of recent economic data did not include the impact of the US banking crisis. Despite the potential for a recession, Siegel believes the October stock market lows will hold firm. And while the March jobs report was solid, it did show one concerning sign, according to Siegel: a decline in the number of weekly hours worked. "What wasn't noticed enough was another 1/10th drop in hours worked.
☆ Buy these stocks with fortress balance sheets to win in the slowing economy, Morgan Stanley says
  + stars: | 2023-04-10 | by ( Alex Harring | ) www.cnbc.com   time to read: +4 min
Companies with strong balance sheets have a downside cushion and can find unique opportunities during a slowing economy, according to Morgan Stanley. Corporations with high amounts of cash on their balance sheets can take advantage of a slowing economy by buying back their stock or acquiring businesses at discounted prices, said Morgan Stanley strategist Todd Castagno. "We've identified companies with strong balance sheets and sufficient liquidity, that also generate excess returns over their cost of capital," Castagno said in a note to clients. Investors have been increasingly focused on the strength of corporate balance sheets amid rising concerns that the Federal Reserve's series of interest rate hikes could tip the U.S. economy into a slowdown or recession. Castagno screened the Russell 1000 , except for financials, real estate and utilities, to find companies with fortress-like balance sheets.
☆ Watch CNBC's full interview with Wharton's Jeremy Siegel on OPEC's surprise product cut
  + stars: | 2023-04-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Wharton's Jeremy Siegel on OPEC's surprise product cutJeremy Siegel, Wharton School of Business professor emeritus, joins 'Squawk Box' to discuss what the Federal Reserve will do after OPEC's production cut, what the Fed has to recognize and more.
☆ OPEC production cut won't be a major issue for markets, says Wharton's Jeremy Siegel
  + stars: | 2023-04-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPEC production cut won't be a major issue for markets, says Wharton's Jeremy SiegelJeremy Siegel, Wharton School of Business professor emeritus, joins 'Squawk Box' to discuss what the Federal Reserve will do after OPEC's production cut, what the Fed has to recognize and more.
☆ The US housing market is tanking - and the banking fiasco could make things worse, RH CEO Gary Friedman says
  + stars: | 2023-03-30 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
The US housing market has slowed dramatically over the past year, RH CEO Gary Friedman said. Soaring interest rates have hit housing demand, and the banking fiasco is a fresh blow, he said. Friedman said the outlook is less clear now than in 2008, and he urged the Fed not to tank the economy. "The fact is, we've been in a massive housing recession for the past year," Friedman continued, adding that "accelerating weakness" in the sector could weigh on his company's revenue and profits for several quarters. Several experts have sounded the alarm on the housing market and economy.
☆ How to write the perfect thank you email after a job interview
  + stars: | 2023-03-28 | by ( Morgan Smith | ) www.cnbc.com   time to read: +1 min
A thank you note takes less than five minutes to write, yet "surprisingly few" applicants do it, says Jeff Hyman, an executive recruiter of 26 years. Throughout his career, Hyman has interviewed more than 35,000 job candidates, and estimates he has received a thank you note from less than 20% of the people he spoke with. 1 mistake job seekers can make, says ZipRecruiter CEO Ian Siegel, because it signals to a hiring manager that you aren't really interested in the role. It's also a chance to show off your soft skills, like communication and creativity, which companies are "increasingly prioritizing in their hiring," Siegel adds. Here are some essential do's and don'ts for writing the perfect thank you email, according to Siegel and Hyman:
☆ Wharton professor Jeremy Siegel warns the recession threat is growing - and stocks could struggle in the days ahead
  + stars: | 2023-03-28 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +4 min
Jeremy Siegel sees a rising risk of recession and a downbeat outlook for stocks. The retired Wharton finance professor expects the Fed to cut interest rates later this year. "The risk of recession has increased clearly," the retired Wharton finance professor warned in his weekly commentary for WisdomTree, published on Monday. Moreover, Siegel warned the Fed may be overlooking the potential fallout from the current pressure on banks, fueled by a trio of lenders folding up in recent weeks. "Equities will likely struggle with recession risk rising and an overly tight Federal Reserve."
☆ Jeremy Siegel says Fed Chair Powell still has the 'completely wrong approach'
  + stars: | 2023-03-27 | by ( Hakyung Kim | Https | Www.Linkedin.Com In Hakyungkim | ) www.cnbc.com   time to read: +2 min
The Federal Reserve's reluctance to cut interest rates this year is a mistake, according to Wharton School professor Jeremy Siegel. Fed Chair Jerome Powell announced during his press conference Wednesday that despite tightening lending conditions from the banking sector crisis, "rate cuts are not in our base case." He added that Fed policy has been "overkill" on inflation. "I'm just wondering — oh my God, [Powell's] not even thinking about lowering interest rates given what I think the economy is facing under the Fed policy? However, Siegel believes that inflation is "absolutely under control," with the economy currently facing a supply-side issue, not an excess of demand.
☆ The Fed basically beat inflation late last year, says Wharton's Jeremy Siegel
  + stars: | 2023-03-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed basically beat inflation late last year, says Wharton's Jeremy SiegelWharton School Professor Jeremy Siegel joins 'Squawk Box' to discuss what the continuous rate hikes by the Fed mean for the economy and more.
☆ How can the Fed project a recession as 'appropriate monetary policy,' asks Wharton's Jeremy Siegel
  + stars: | 2023-03-24 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow can the Fed project a recession as 'appropriate monetary policy,' asks Wharton's Jeremy SiegelWharton School Professor Jeremy Siegel joins ‘Closing Bell’ to discuss whether the stock market should be more worried about the message coming from bonds following the Fed's latest rate hike this week and more.
☆ Watch CNBC’s full interview with Wharton School Professor Jeremy Siegel
  + stars: | 2023-03-24 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Wharton School Professor Jeremy SiegelWharton School Professor Jeremy Siegel joins ‘Closing Bell’ to discuss whether the stock market should be more worried about the message coming from bonds following the Fed's latest rate hike this week.
☆ The Fed hiked rates further but Wall Street is already pointing to tighter conditions on the ground
  + stars: | 2023-03-23 | by ( Jason Ma | ) www.businessinsider.com   time to read: +6 min
Between fighting inflation or the bank crisis, the Federal Reserve leaned toward the former. Wednesday's move comes despite the bank crisis, which previously led investors to price in a series of Fed rate cuts starting this summer. Indeed, Wall Street has started pointing to the facts on the ground when it comes to financial conditions. The banks are still tightening credit conditions and … non-bank lenders are as well," he told Bloomberg TV hours before the Fed meeting. Billionaire investor Mark Mobius says he is "very, very skeptical" of investing in bank stocks.
☆ ChatGPT can help you write a standout CV in seconds, job experts say: It's 'the ultimate resume-writing cheat code'
  + stars: | 2023-03-22 | by ( Morgan Smith | ) www.cnbc.com   time to read: +3 min
The secret to writing the perfect resume could lie with ChatGPT. Since its launch in November, more jobseekers have tapped the viral AI-powered chatbot to help write cover letters, tweak resumes and draft responses to anticipated interview questions. Out of more than 1,000 current and recent jobseekers polled in a ResumeBuilder.com survey last month, nearly half (46%) reported using ChatGPT to write their resume or cover letter. 'All you need to do is proofread and edit'If you're building a resume from scratch, ChatGPT can help you build a customized template. "ChatGPT can give you clear recommendations for exactly how to do this … all you need to do is proofread and edit as needed."
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