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☆ Asia-Pacific markets climb with China's central bank in focus; S&P and Dow set fresh records
▼ + stars: | 2024-09-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets climbed on Tuesday, tracking gains on Wall Street after the S&P 500 and Dow Jones Industrial Average touched new closing highs in Monday's trading session. The broad market index added 0.28% to end at 5,718.57, while the Dow Jones Industrial Average gained 61.29 points, or 0.15%, to close at 42,124.65. The briefing is set to begin before Chinese markets open at 9:30 a.m. Currently, futures for the mainland Chinese CSI 300 are at 3,205.6, slightly lower than its last close of 3,212.76. As such, CBA expects a slightly less hawkish statement, but does not see a material shift in language or tone.

Persons: Pan Gongsheng Organizations: Dow Jones, Dow Jones Industrial, Traders, People's Bank of China, PBOC, CSI, Reuters, Commonwealth Bank of Australia, CBA Locations: Asia, Pacific, Australia's

☆ JPMorgan CEO Jamie Dimon warns 'geopolitics is getting worse'
▼ + stars: | 2024-09-24 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Jamie Dimon, Chairman and Chief Executive officer (CEO) of JPMorgan Chase & Co. (JPM) speaks to the Economic Club of New York in Manhattan in New York City, U.S., April 23, 2024. A year after Jamie Dimon named geopolitics as the world's biggest risk, JPMorgan Chase's CEO sounded the alarm again, warning that the state of global stability has gotten worse. During his visit to India, Dimon said in an exclusive interview with CNBC-TV18 released Tuesday: "My caution is all geopolitics, which may determine the state of the economy." "Geopolitics is getting worse, they are not getting better. The interview came almost a year after Dimon had called geopolitics, after Russia's invasion in Ukraine, the biggest risk that he sees facing the world, larger than high inflation or a U.S. recession.

Persons: Jamie Dimon, Dimon, Yemen's, I'm Organizations: JPMorgan Chase & Co, Economic, of New, JPMorgan, CNBC, TV18, ., Federal Reserve, Traders Locations: of New York, Manhattan, New York City, U.S, India, Red, Ukraine, Russia

☆ Market headed for first winning September in 5 years, but don't get too comfortable
▼ + stars: | 2024-09-24 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

In fact, the S & P 500 is on pace for a winning September — its first since 2019 — with a gain of more than 1%. The month is typically the worst stretch of the year on average for all three major averages and the Russell 2000, according to the Stock Trader's Almanac. Some of September's strength could be attributed to the Federal Reserve's supersized rate cut last week . The S & P 500 notched a fresh record close on Monday and an intraday all-time high on Tuesday. The benchmark S & P 500 typically pulls back nearly 1% on average in October in election years, per the Stock Trader's Almanac.

Persons: —, Russell, Gary Pzegeo Organizations: Federal, CIBC Private Wealth Management

☆ Stocks and bonds are at odds on what happens next after Fed rate cut
▼ + stars: | 2024-09-24 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

For the third quarter, the S & P 500 has popped 4.7%, while the Dow is higher by 7.7%. "The bond market has the fed funds rate being cut below 3% in 2025," Johnston, the firm's head of derivatives and cross asset strategy, wrote in a note Monday. On Monday, S & P Global said its U.S. manufacturing purchasing managers' index fell to a 15-month low in September — while its services sector gauge showed expansion. He likes put spreads on the SPDR S & P 500 ETF Trust (SPY) expiring Oct. 31. If history is any guide, it'll most likely be the bond market.

Persons: Cantor Fitzgerald's Eric Johnston, Johnston Organizations: Dow Jones, Federal Reserve, Dow, P Global, Trust Locations: —

☆ Trump's mass deportation plans could wreak havoc on the fight against inflation
▼ + stars: | 2024-09-24 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +6 min

But think-tank economists warned Business Insider that former President Donald Trump's proposed mass deportation could open that door right back up. Beyond posing significant humanitarian concerns, economists worry Trump's proposed mass deportation would be hugely inflationary, partly due to the basic calculations of supply and demand. Both he and Edelberg said a sudden mass deportation would upend the labor supply and, in turn, the ability to make goods. McKibbin has researched the impact of mass deportation and said it would lead to a combination of lower production and higher costs, particularly in the agriculture and construction sectors. Add on the uncertainty that mass deportation would bring, and a chilling effect among investors seems plausible.

Persons: —, Donald Trump's, Kamala Harris, Trump, Harris, Trump's, Wendy Edelberg, Warwick McKibbin, Edelberg, Adam Posen, Posen, McKibbin, Josh Bivens Organizations: Service, Federal Reserve, Trump, Business, Brookings Institution, Peterson Institute for International Economics, Peterson Institute, Bloomberg TV, Economic Policy Institute, Democratic

☆ China's worsening relationship with US businesses could put AI's chip supply on shaky ground
▼ + stars: | 2024-09-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, China isn't proving to be the economic promised land US companies once hoped for . US-China relations have been on shaky ground for a while, to put it mildly. But despite the growing animosity, US corporations' push to sell things to Chinese consumers has been a middle ground everyone can agree on. AdvertisementTaiwan Semiconductor Manufacturing Company makes vital hardware components for most the world's chip companies, including industry giant Nvidia. Nvidia CEO Jensen Huang recently said his company has a backup plan if things were to kick off in Taiwan .

Persons: —, Jamie Dimon, Tyler Le, Insider's Linette Lopez, It's, that's, Kiran Ridley, Stringer, Getty, Jensen Huang, Huang, Alyssa Powell, Trump, Harris, isn't, Howard Marks, Marks, Rebecca Noble, Vance, Tom Brady, Jeff Bezos, it's, Ryan Routh, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Amanda Yen, Grace Lett, Milan Sehmbi Organizations: Service, Business, China Xinhua News Agency, Getty, Apple, Nike, Huawei, Taiwan Semiconductor Manufacturing Company, Nvidia, Billionaire, Economic Forum Locations: Washington ,, China, China . US, Washington, Beijing, Taiwan, USA, Florida, New York, London, Chicago

☆ Modelo maker Constellation Brands jumps, and the S&P 500 eyes another record close
▼ + stars: | 2024-09-23 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. After struggling near the open, consumer staples is making a push higher on the daily S & P 500 sector leaderboard. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, There's, We're, Piper Sandler, Brown, Forman, Eli Lilly, Lilly, Jim Cramer's, Jim Organizations: CNBC, ., Constellation Brands, Corona, Modelo, Sunday, Abbott Laboratories, GE Healthcare, Novo Nordisk, Apple, Microsoft, Nvidia, Broadcom, Motors, Starbucks, Thor, Philadelphia Federal, Conference, Richmond, Jim Cramer's Charitable

☆ Vinod Khosla says universal basic income may be needed as AI takes over jobs and drives wealth disparity
▼ + stars: | 2024-09-23 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

Read previewFamed Silicon Valley investor Vinod Khosla thinks artificial intelligence will be able to do 80% of the work of 80% of jobs. He understands concerns over the idea of handing out cash to people who are pushed out of jobs by AI. Khosla wrote that it might seem "impractical" because of economic constraints. Related storiesYet Khosla expects the breadth of gains from AI will gradually reduce the economic constraints that animate some criticisms of UBI. Yet interventions are needed to help those hurt by broadening income disparities, Khosla said.

Persons: —, Vinod Khosla, Khosla, Elon, Sam Altman, Pope Francis, haven't Organizations: Service, Sun Microsystems, Business Locations: OpenAI, Argentina, Venezuela

Stefany Serna, 30s, Miami, Florida Working in Miami's high-end restaurants where she has developed a strong reputation among patrons. Thanks to an informal connection to her landlord, the costs for the home she shares with her partner are below market prices. Serna said Miami Springs, a small upper-middle-class city just north of Miami International Airport, is a place where everyone more or less knows each other. According to Zillow, the average market rent for such a two-bedroom in Miami Springs is $2,800. “But I’m afraid I won’t be able to stay here because I can’t afford it in the long run.”

Persons: Stefany Serna, Serna, ” Serna, she’d, ’ ” Serna, Zillow, “ It’s, ”, “ Organizations: NBC, Dade, Cuban, Miami International Airport, U.S ., Miami, ” Management Locations: Miami, Florida, Coral Gables, Miami Springs, U.S, East Coast, ”

☆ American Companies' China Profits Are Declining; Increased War Chance
▼ + stars: | 2024-09-22 | by ( Linette Lopez | ) www.businessinsider.com time to read: +15 min

Without the promise of profits, American firms are also becoming less willing to go to bat for China — to reinforce the idea that China's market is crucial to the success of their futures. No demandAfter pandemic lockdowns ended in 2023, the Chinese economy experienced what is known on Wall Street as a "dead cat bounce." What money Chinese consumers are still able to spend is increasingly going to companies that grew up in their home country. Related storiesWhat money Chinese consumers are still able to spend is increasingly going to companies that grew up in their home country. It gives corporations, already under financial pressure as China's economy declines, even less reason to act as interlocutors encouraging stability between Washington and Beijing.

Persons: Washington —, Xi Jinping, Lee Miller, lockdowns, They're, Xi, Yi Gang, Michael Pettis, Tesla, Elon Musk, it's, Ball, Jamie Dimon, It's, China's, Goldman Sachs, Ray Dalio, seeping, Miller, Kamala Harris, Donald Trump, Harris, —, Trump, Biden, we're, Cordell Hull Organizations: Apple, Nike, Chinese Communist Party, People's Bank of, Carnegie Endowment, China Business Council, Starbucks, Street, Bridgewater Associates, Beijing, East Asia State Department, CCP, Trump, State Department, Republicans, Financial, Broadcom, Nvidia, Biden Administration Locations: China, America, Beijing, Washington, American, South China, Taiwan, People's Bank of China, Shanghai

☆ These 9 'Back to the USA' stocks will get the biggest boost from an American manufacturing boom: Bank of America
▼ + stars: | 2024-09-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. He believes that the rise of the US trade deficit over the past year will likely make it a key issue for both political parties. AdvertisementAlthough the Trump administration has traditionally been linked to trade wars and more protectionist measures, Biden's administration maintained the Chinese tariffs. It will create more manufacturing jobs and boost demand for domestic companies with in the logistics and supply chain process. A September 19 research note from Bank of America suggests that this shift is set to benefit domestic small- and mid-cap stocks most.

Persons: —, Trump, Manish Kabra, Kabra, Jill Carey Hall Organizations: Service, Business, US, of, Tax, Bank of America Locations: China, Red

☆ Intel and Qualcomm: This 'odd' couple won't solve America's chipmaking woes
▼ + stars: | 2024-09-21 | by ( Alistair Barr | ) www.businessinsider.com time to read: +10 min

Or maybe South Korea, where Samsung has built an impressive so-called foundry business making semiconductors for other companies. AdvertisementThe US company took a major step recently when it separated its Foundry business from its chip-design business. Intel's Foundry business won't really be able to challenge TSMC until it gets several big customers. Intel's Foundry business just needs way more of these customers. How would Intel's Foundry business perform as a separate company, split off from the design parts?

Persons: —, Jerry Sanders, Ian King, TSMC, Globalfoundries, it's, AMD's Sanders, Apple, Ian King's, Raimondo, Gina Raimondo, Bernstein, Stacy Rasgon, that's, Rasgon Organizations: Service, Business, Intel, Samsung, Nvidia, Qualcomm, AMD, Apple, Reuters, TSMC, Foundry, Intel's Foundry, CNBC, Amazon Web Services, Microsoft Locations: Taiwan, South Korea, China, Europe

☆ The US economy could get hit by a double whammy on September 30, if 2 major negotiations are not hammered out
▼ + stars: | 2024-09-20 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

Read previewSeptember 30 could be a consequential day for the US economy if two major negotiations don't get hammered out in time. Congress must pass a stopgap spending bill by the last day of this month to avoid a partial government shutdown. September 30 is also the deadline for the International Longshoremen's Association and several East Coast and Gulf Coast ports to strike a contract. A government shutdownThe rejection of Johnson's plan on Wednesday ratcheted up tensions in Congress as the September 30 deadline draws ever nearer. This would pause the strike while negotiations continued.

Persons: —, there's, Mike Johnson, Johnson, There's, Donald Trump, Mitch McConnell, Joe Biden, Taft, Hartley Organizations: Service, International Longshoremen's Association, Business, GOP, United States Maritime Alliance, Street, White House, Washington Post, Street Journal, Social Security, Medicare, Congressional, Office, International Longshoremen's, Retail Industry, Association Locations: East Coast, Gulf Coast, Maine, Texas, West Coast, RILA

☆ The big post-Fed rally could get tested in week ahead: 'A lot holds in the balance' of the next few days
▼ + stars: | 2024-09-20 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The Dow Jones Industrial Average topped 42,000 this week for the first time ever, while the S & P 500 breached the 5,700 milestone, after the Federal Reserve cut interest rates by a half-percentage point. "A lot holds in the balance of the next couple or few days," said Katie Stockton, founder at Fairlead Strategies. .SPX 5D mountain S & P 500 On Friday, the 30-stock Dow, the S & P 500 and the Nasdaq Composite each closed higher by more than 1% for the week. The breakout is "'pending confirmation,'" Stockton said. Overall, Stockton expects that the longer-term setup for the S & P 500 is "a bit overdone."

Persons: Katie Stockton, Stockton, That's, Sam Stovall, Gee, Christopher Waller, Jerome Powell, Stovall Organizations: Dow Jones, Federal Reserve, Dow, Nasdaq, Stockton, CFRA, Fed, Chicago, PMI, Richmond Fed, New, Micron Technology, Transportation, . Kansas City Fed Manufacturing, Costco Wholesale, PCE Deflator, PCE Locations: . Kansas, Michigan

☆ The Fed surprised many investors with a jumbo rate cut this week. It won’t get much easier to predict the next move
▼ + stars: | 2024-09-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

But Wall Street was mostly clueless this week when it came to predicting how big a rate cut the Fed would deliver on Wednesday. The jumbo half-point cut the Fed ultimately rolled out was not at all what traders expected a week ago. Powell: Fed officials ‘left the size of the rate cut open’ ahead of September meetingIn a closely watched speech at the Fed’s annual economic symposium in Jackson Hole, Wyoming, last month, Powell declared “the time has come” to cut interest rates. That data was apparently enough to spur some Fed officials to reconsider their position. “But we do not expect Fed officials to be intentionally opaque,” said Husby.

Persons: Jerome Powell, Powell, ‘, “, Price, Christopher Waller, ”, Powell’s, Thomas Simons, ” Simons, Michelle Bowman, “ We’re, Andrew Husby, Waller, there’s Organizations: New, New York CNN — Federal, Fed, PPI, CNBC, Jefferies, BNP Locations: New York, Jackson Hole , Wyoming

☆ Trump and Harris are pushing proposals that 'ignore economic reality,' billionaire investor Howard Marks says
▼ + stars: | 2024-09-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Read previewThe presidential election is running on promises that just don't hold up, according to billionaire investor Howard Marks. "Like me, you've undoubtedly noticed that politicians ranging from former President Trump and Vice President Harris to down-ballot candidates are back to making promises that ignore economic reality," Marks wrote in his latest memo. AdvertisementDonald Trump: Tariffs and taxesIn Trump's case, plans for higher tariffs on virtually all US imports are equivalent to a price hike on average American consumers, Marks said. As these disappear, consumers should prepare for higher prices. Kamala Harris: Price gouging and housingMarks' primary criticism aimed at Harris' anti-price gouging policy.

Persons: —, Howard Marks, you've, Trump, Harris, Marks, Donald Trump, they'll, Kamala Harris, Price, Marks isn't Organizations: Service, Business, Oaktree

☆ Fed Governor Waller says inflation softening faster than he expected put him in half-point-cut camp
▼ + stars: | 2024-09-20 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Federal Reserve Governor Christopher Waller said Friday he supported a half percentage point rate cut at this week's meeting because inflation is falling even faster than he had expected. A week before the Fed meeting, markets were overwhelmingly pricing in a 25 basis point cut. Along with the decision, individual officials signaled the likelihood of another half point in cuts this year, followed by a full percentage point of reductions in 2025. Fed Governor Michelle Bowman was the only Federal Open Market Committee member to vote against the reduction, instead preferring a smaller quarter percentage point cut. "I was a big advocate of large rate hikes when inflation was moving much, much faster than any of us expected," he said.

Persons: Christopher Waller, Waller, CNBC's Steve Liesman, Michelle Bowman, Bowman, Jerome Powell Organizations: Federal, CNBC, Fed, Market, Commerce Department

☆ Why rate cuts could actually slow the economy instead of sparking growth
▼ + stars: | 2024-09-19 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

The consensus view is that lower rates will stave off a recession by stimulating economic growth through lower borrowing costs. The hidden danger of a double cutHowever, David Kelly of JPMorgan Asset Management warned that lower rates aren't an economic panacea. In fact, the chief global strategist thinks these cuts could, paradoxically, cause the economy to slow in the near term. Advertisement"The important thing to recognize is that cutting interest rates at the start doesn't stimulate the economy at all," Kelly said on CNBC. "There is a J-curve effect; it actually slows the economy because people begin to anticipate those lower rates, so they want to wait for lower rates."

Persons: —, Jim Caron, Claudia Sahm, Jerome Powell, Sahm, Ronald Temple, Kevin Philip of, David Kelly, Kelly, what's, you've, Kelly isn't, it's, they've Organizations: Service, Federal, Business, Fed, Dow Jones, Morgan Stanley Investment Management, CNBC, New Century Advisors, Lazard, Kevin Philip of Bel Air Investment Advisors, JPMorgan Asset Management

☆ 'No victory lap yet' for President Biden, still more work to do on economy, says CEA chair Bernstein
▼ + stars: | 2024-09-19 | 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 Email'No victory lap yet' for President Biden, still more work to do on economy, says CEA chair BernsteinJared Bernstein, chairman of Council of Economic Advisors, joins CNBC's 'Money Movers' to discuss expectations for President Biden's visit to the Economic Club of Washington DC, reactions to the Federal Reserve's interest rate cut, and more.

Persons: Biden, Bernstein Jared Bernstein, Biden's Organizations: of Economic Advisors, Economic, of Washington DC

☆ Watch: Biden delivers remarks at the Economic Club of Washington, D.C.
▼ + stars: | 2024-09-19 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: 1 min

[The stream is slated to start at 1:15 p.m. Please refresh the page if you do not see a player above at that time.] President Joe Biden is speaking at the Economic Club of Washington, D.C., on Thursday, where he is expected to celebrate falling inflation and interest rates. The president's remarks come the day after the Federal Reserve announced its decision to cut interest rates by a surprisingly aggressive 50 basis points. "The declines in inflation and interest rates are welcome, but no one's declaring victory," National Economic Council Director Lael Brainard told reporters ahead of Biden's remarks.

Persons: Joe Biden, Lael Brainard, Biden's Organizations: Economic, of Washington, of Washington , D.C, Federal Reserve Locations: of Washington ,

☆ Biden claims he's 'never once spoken' to Powell as president, but they met in Oval Office in 2022
▼ + stars: | 2024-09-19 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: +3 min

Chairman of the Federal Reserve Jerome Powell (left) meets with President Joe Biden in the Oval Office on May 31, 2022. President Joe Biden on Thursday said he had "never once spoken" to Federal Reserve Chair Jerome Powell while he was president. "The president was saying that he has not spoken to Chair Powell about interest rates," said Bernstein. Even in his 2022 Oval Office meeting with Powell, Biden stressed the importance of the Fed's independence in addressing inflation. Respect the Fed's independence," Biden said at the time.

Persons: Jerome Powell, Joe Biden, Janet Yellen, Biden, I've, Jared Bernstein, Powell, Bernstein, Donald Trump, Trump Organizations: Federal, Treasury, Economic, of Washington, of Washington , D.C, Fed, Republican, Federal Reserve, Street Journal, White Locations: of Washington ,

☆ How Springfield, Ohio, became home for thousands of Haitian immigrants
▼ + stars: | 2024-09-19 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +11 min

Mayor Rob Rue told CNN the city’s population has grown about 25% over the past three years, in part due to the arrival of Haitian immigrants. Volunteer teacher Hope Kaufman leads Haitian students during an English language class at the Haitian Community Help and Support Center in Springfield, Ohio, on September 13, 2024. They’re very happy to have them there, and frankly, that’s helped the economy.”Has something changed with Haitian immigration to the US? Members of the Haitian community in Springfield, Ohio — from left, Lindsay Aime, James Fleurijean, Viles Dorsainvil and Rose-Thamar Joseph — stand for worship at Central Christian Church on September 15, 2024. But in an interview with ABC’s “This Week,” the Republican governor stressed the economic benefit the Haitian immigrants are bringing to the city.

Persons: Margery Koveleski, she’s, ”, who’s, Last, Rob Rue, Chris Cook, …, Hope Kaufman, Roberto Schmidt, CNN’s Omar Jimenez, Mike DeWine, that’s, Biden, Nicaraguans, it’s, who’ve, they’d, Cook, Julia Gelatt, ” Gelatt, “, ” What’s, “ Haiti’s, Donald Trump, Lindsay Aime, James Fleurijean, Viles Dorsainvil, Thamar Joseph —, Jessie Wardarski, Sens, Sherrod Brown of, Tim Scott of, Bryan Heck, ABC’s, ” CNN’s Chelsea Bailey, Omar Jimenez, Meridith Edwards, Chris Boyette, Jack Forrest, Priscilla Alvarez Organizations: CNN, American Community Survey, Springfield City Council, AFP, Getty, ” Ohio Gov, ABC, United, US Customs, Department of Homeland Security, Officials, Citizenship, Immigration Services, House Homeland Security, Central Christian Church, City, Republican Locations: Springfield, Ohio, Haitian, Clark County, ”, ” Clark County, Koveleski, Springfield , Ohio, “, Macy’s, ” Ohio, “ Ohio, United States, Haiti, South America, Miami, Ft . Lauderdale, New York City, Canada, Cincinnati, Columbus, What’s, Sherrod Brown of Ohio, Tim Scott of South Carolina

☆ The Fed's 50 basis point rate cut won't do anything to stop a recession, economist David Rosenberg says
▼ + stars: | 2024-09-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The Fed's big rate cut won't stop a recession, economist David Rosenberg says. Rosenberg's bearish call comes one day after the Federal Reserve delivered a jumbo 50 basis point interest rate cut, the Fed's first rate cut since 2020. AdvertisementBut Rosenberg isn't backing down, likening 2024 to 2007, right before the economy slowed and entered a painful recession. He added: "Half the country is in recession right now when we apply data science to the commentary." AdvertisementAs for the soaring stock market, Rosenberg says investors should heed the warning signs coming out of the bond market.

Persons: David Rosenberg, He's, Rosenberg, —, Rosenberg's Organizations: Service, Federal Reserve, BLS

☆ President Biden: Our work on inflation is far from done
▼ + stars: | 2024-09-19 | 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 EmailPresident Biden: Our work on inflation is far from donePresident Joe Biden delivers remarks at the Economic Club of Washington, D.C.

Persons: Biden, Joe Biden Organizations: Economic, of Washington Locations: of Washington ,

☆ Ray Dalio says the Fed faces a tough balancing act as the economy faces 'enormous amount of debt'
▼ + stars: | 2024-09-19 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Ray Dalio, Bridgewater Associates co-chairman and co-chief investment officer, speaks during the Skybridge Capital SALT New York 2021 conference. Brendan McDermid | ReutersAs the U.S. Federal Reserve implemented its first interest rate cut since the early Covid pandemic, billionaire investor Ray Dalio flagged that the U.S. economy still faces an "enormous amount of debt." The central bank's decision to cut the federal funds rate by 50 basis points to a range of 4.75% to 5%. On Wednesday, Dalio listed debt, money and the economic cycle as one of the top five forces influencing the global economy. The country's central bank only recently lifted interest rates in March this year.

Persons: Ray Dalio, Brendan McDermid, CNBC's, Dalio, Donald Trump, Kamala Harris Organizations: Bridgewater Associates, Reuters, U.S . Federal Reserve, Federal, U.S . Treasury Department Locations: U.S, Japan

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