Warren Buffett: This is the greatest measure of success in life

Warren Buffett is no doubt one of the few business icons who can deliver the gift of wisdom and truth when we need it most. In her biography of Buffett, “The Snowball: Warren Buffett and the Business of Life,” author Alice Schroeder writes about a time when Buffett gave a presentation at The University of Georgia. When you’re nearing your end of life, your only measure of success should be the number of “people you want to have love you actually do love you,” he answered. “If you get to my age i


Warren Buffett is no doubt one of the few business icons who can deliver the gift of wisdom and truth when we need it most. In her biography of Buffett, “The Snowball: Warren Buffett and the Business of Life,” author Alice Schroeder writes about a time when Buffett gave a presentation at The University of Georgia. When you’re nearing your end of life, your only measure of success should be the number of “people you want to have love you actually do love you,” he answered. “If you get to my age i
Warren Buffett: This is the greatest measure of success in life Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: marcel schwantes, adam jeffery, -warren buffett, chairman, ceo, berkshire hathaway
Keywords: news, cnbc, companies, truth, love, buffett, warren, youre, life, business, writes, greatest, measure, success


Warren Buffett: This is the greatest measure of success in life

Warren Buffett is no doubt one of the few business icons who can deliver the gift of wisdom and truth when we need it most. And those truths, when you really stop and consider them, are always spot-on.

In her biography of Buffett, “The Snowball: Warren Buffett and the Business of Life,” author Alice Schroeder writes about a time when Buffett gave a presentation at The University of Georgia. The students asked him about his definition of success.

When you’re nearing your end of life, your only measure of success should be the number of “people you want to have love you actually do love you,” he answered.

“I know people who have a lot of money, and they get testimonial dinners and they get hospital wings named after them. But the truth is that nobody in the world loves them,” said Buffett. “If you get to my age in life and nobody thinks well of you, I don’t care how big your bank account is, your life is a disaster.”

That’s right, a self-made billionaire says that the amount you are loved — not your wealth or accomplishments — is the ultimate measure of success in life.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: marcel schwantes, adam jeffery, -warren buffett, chairman, ceo, berkshire hathaway
Keywords: news, cnbc, companies, truth, love, buffett, warren, youre, life, business, writes, greatest, measure, success


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Fed’s Powell reveals what he thinks is the biggest challenge over the next decade

Sluggish productivity and widening wealth gap are the biggest challenges facing the U.S. over the next decade, Federal Reserve Chairman Jerome Powell said Wednesday. Speaking at a town hall in Washington D.C. to a group of educators, the central bank leader said his greatest economic fears lie outside the Fed’s purview. Wages at the middle and lower levels have “grown much more slowly” than those at the higher end, he said. We need policies to make that happen,” Powell added. Powell stressed the


Sluggish productivity and widening wealth gap are the biggest challenges facing the U.S. over the next decade, Federal Reserve Chairman Jerome Powell said Wednesday. Speaking at a town hall in Washington D.C. to a group of educators, the central bank leader said his greatest economic fears lie outside the Fed’s purview. Wages at the middle and lower levels have “grown much more slowly” than those at the higher end, he said. We need policies to make that happen,” Powell added. Powell stressed the
Fed’s Powell reveals what he thinks is the biggest challenge over the next decade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: jeff cox, yuri gripas
Keywords: news, cnbc, companies, reveals, mobility, feds, income, chairman, powell, biggest, widely, need, workforce, yearsthats, thinks, policies, challenge, widening, decade


Fed's Powell reveals what he thinks is the biggest challenge over the next decade

Sluggish productivity and widening wealth gap are the biggest challenges facing the U.S. over the next decade, Federal Reserve Chairman Jerome Powell said Wednesday.

Speaking at a town hall in Washington D.C. to a group of educators, the central bank leader said his greatest economic fears lie outside the Fed’s purview. Specifically, he called for more aggressive policies to address income inequality.

Wages at the middle and lower levels have “grown much more slowly” than those at the higher end, he said.

“We want prosperity to be widely shared. We need policies to make that happen,” Powell added.

For the chairman, the forum was a chance to take some lighter questions — he revealed that to relax he plays guitar and rides his bicycle — but he also turned serious when addressing the issues of the future.

Powell stressed the importance of increasing labor force participation and improving mobility between income classes, which is an area where he said the U.S. has lagged in recent years.

“That’s not our self-image as a country, nor is it where we want to be,” he said.

“There are policies that we need to do that everyone should be able to agree on that will change mobility, improve people’s chances and enable people to better take part in the workforce of the future,” Powell added.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: jeff cox, yuri gripas
Keywords: news, cnbc, companies, reveals, mobility, feds, income, chairman, powell, biggest, widely, need, workforce, yearsthats, thinks, policies, challenge, widening, decade


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Fed Chairman Powell met with Trump for an ‘informal dinner’ to discuss the economy

Federal Reserve Chairman Jerome Powell sat down with President Donald Trump on Monday. The dinner lasted about 90 minutes and was attended by Fed Vice Chairman Richard Clarida and Treasury Secretary Steven Mnuchin. Most presidents meet at least once and sometimes more often with the Fed chair. But given the president’s past criticism, it had been unclear if and when Powell and Trump would meet. Trump has been highly critical of the Fed for raising interest rates, including calling the Fed “out o


Federal Reserve Chairman Jerome Powell sat down with President Donald Trump on Monday. The dinner lasted about 90 minutes and was attended by Fed Vice Chairman Richard Clarida and Treasury Secretary Steven Mnuchin. Most presidents meet at least once and sometimes more often with the Fed chair. But given the president’s past criticism, it had been unclear if and when Powell and Trump would meet. Trump has been highly critical of the Fed for raising interest rates, including calling the Fed “out o
Fed Chairman Powell met with Trump for an ‘informal dinner’ to discuss the economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: steve liesman, everett rosenfeld, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, discuss, vice, powell, dinner, economic, trump, chairman, policy, meeting, chair, president, treasury, fed, met, informal, economy


Fed Chairman Powell met with Trump for an 'informal dinner' to discuss the economy

Federal Reserve Chairman Jerome Powell sat down with President Donald Trump on Monday.

That marked their first meeting since the president nominated Powell to the post and follows months of strong criticism from Trump about his nominee and the Fed.

The central bank said in a statement it was an “informal dinner” in the White House residence “to discuss recent economic developments and the outlook for growth, employment and inflation.”

The dinner lasted about 90 minutes and was attended by Fed Vice Chairman Richard Clarida and Treasury Secretary Steven Mnuchin. Steak was served.

Most presidents meet at least once and sometimes more often with the Fed chair. But given the president’s past criticism, it had been unclear if and when Powell and Trump would meet. The president had extended the invitation on Friday.

A senior administration official confirmed the meeting and said it was “two on a side.”

“No pitchforks. It was much more casual than an Oval Office meeting,” the official said. “They had a very good exchange of views.”

The statement from the Fed said Powell’s comments to Trump “were consistent with his remarks at his press conference of last week.” Powell was said not to have discussed monetary policy expectations “except to stress that the path of policy will depend entirely on incoming economic information and what that means for the outlook.”

Trump has been highly critical of the Fed for raising interest rates, including calling the Fed “out of control” in October. At its January meeting, the Fed shifted policy toward a more neutral stance away from rate hikes — at least for the time being.

The president — who said in November that he was “not even a little bit happy” about his selection of Powell — has not commented on Fed policy since the shift.

Here’s the statement from the Fed about the meeting:

Statement on Chair Powell’s and Vice Chair Clarida’s meeting with the President and Treasury Secretary At the President’s invitation, Chair Powell and Vice Chair Clarida joined the President and the Treasury Secretary for an informal dinner tonight in the White House residence, to discuss recent economic developments and the outlook for growth, employment and inflation. Chair Powell’s comments in this setting were consistent with his remarks at his press conference of last week. He did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming economic information and what that means for the outlook. Finally, Chair Powell said that he and his colleagues on the FOMC will set monetary policy in order to support maximum employment and stable prices and will make those decisions based solely on careful, objective and non-political analysis.

—CNBC’s Eamon Javers contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: steve liesman, everett rosenfeld, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, discuss, vice, powell, dinner, economic, trump, chairman, policy, meeting, chair, president, treasury, fed, met, informal, economy


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US Treasury yields fall ahead of Trump’s State of the Union speech

President Donald Trump is due to address the Congress with his 2019 State of the Union Speech on Tuesday. On Monday, the President had an “informal meeting” with Fed Chairman Jerome Powell, where both discussed “recent economic developments and the outlook for growth, employment and inflation.” Trump, who nominated Powell to be Fed chairman, has been one of Powell’s most vocal critics, blaming central bank rate increases for slowing the economy and roiling the stock market. Much of the action ov


President Donald Trump is due to address the Congress with his 2019 State of the Union Speech on Tuesday. On Monday, the President had an “informal meeting” with Fed Chairman Jerome Powell, where both discussed “recent economic developments and the outlook for growth, employment and inflation.” Trump, who nominated Powell to be Fed chairman, has been one of Powell’s most vocal critics, blaming central bank rate increases for slowing the economy and roiling the stock market. Much of the action ov
US Treasury yields fall ahead of Trump’s State of the Union speech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: silvia amaro
Keywords: news, cnbc, companies, future, state, union, rate, yields, chairman, fall, treasury, powell, president, policy, monetary, fed, federal, reduces, speech, trumps, ahead


US Treasury yields fall ahead of Trump's State of the Union speech

President Donald Trump is due to address the Congress with his 2019 State of the Union Speech on Tuesday. Money managers will be looking for comments on trade and the broader U.S. economy.

On Monday, the President had an “informal meeting” with Fed Chairman Jerome Powell, where both discussed “recent economic developments and the outlook for growth, employment and inflation.”

Trump, who nominated Powell to be Fed chairman, has been one of Powell’s most vocal critics, blaming central bank rate increases for slowing the economy and roiling the stock market.

“I always feel it’s important for two sides to hear each other and it reduces, but it doesn’t eliminate, but reduces misunderstandings in the future,” economist Mohamed El-Erian told CNBC on Tuesday. “I think net-net this is neutral to slightly favorable to the market. But it’s not a big deal.”

Meanwhile, the Treasury will auction $38 billion in 3-year notes.

Much of the action over the past week has stemmed from the Federal Reserve’s monetary policy decision on Wednesday. The central bank kept the federal funds rate steady as expected, but also vowed to be “patient” when adjusting monetary policy in the future.


Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: silvia amaro
Keywords: news, cnbc, companies, future, state, union, rate, yields, chairman, fall, treasury, powell, president, policy, monetary, fed, federal, reduces, speech, trumps, ahead


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The Powell-Trump meeting ‘mostly just politics’ but is helping soothe the market

“I look at as more an opportunity for Powell to express his thoughts on things, because there’s no mystery of Trump’s thoughts on things with respect to monetary policy. Trump never wanted Powell to raise interest rates at all,” said Peter Boockvar, chief investment advisor at Bleakley Advisory Group. The tenor of the meeting may have been helped by the fact that the Fed over the past several weeks has come closer to Trump’s thinking. At last week’s policy meeting of the Federal Open Market Comm


“I look at as more an opportunity for Powell to express his thoughts on things, because there’s no mystery of Trump’s thoughts on things with respect to monetary policy. Trump never wanted Powell to raise interest rates at all,” said Peter Boockvar, chief investment advisor at Bleakley Advisory Group. The tenor of the meeting may have been helped by the fact that the Fed over the past several weeks has come closer to Trump’s thinking. At last week’s policy meeting of the Federal Open Market Comm
The Powell-Trump meeting ‘mostly just politics’ but is helping soothe the market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: jeff cox
Keywords: news, cnbc, companies, powelltrump, things, politics, chairman, thoughts, policy, powell, market, weeks, trump, helping, meeting, trumps, soothe, fed


The Powell-Trump meeting 'mostly just politics' but is helping soothe the market

Here’s how Fed Chair Jerome Powell is doing one year into the job 8:51 AM ET Mon, 4 Feb 2019 | 02:25

President Donald Trump and Fed Chairman Jerome Powell finally met face to face Tuesday, giving the two leaders a chance to communicate and helping to remove one small layer of uncertainty surrounding the markets and the economy.

Monday’s dinner, which Treasury Secretary Steven Mnuchin and Fed Vice Chairman Richard Clarida also attended, came after a year of rancor during which the president has harshly criticized the central bank chief.

On an official basis, neither side revealed much.

Word from the White House was that the dinner featured a “very good exchange of ideas” and “no pitchforks.” The Fed said it was to “discuss recent economic developments and the outlook for growth, employment and inflation.”

From a market perspective, though, a more cordial relationship between the two sides is better than the alternative of worries about whether the Fed’s political independence could be compromised by a meddling president who might actually replace the chairman if he continued to raise rates.

“I look at as more an opportunity for Powell to express his thoughts on things, because there’s no mystery of Trump’s thoughts on things with respect to monetary policy. Trump never wanted Powell to raise interest rates at all,” said Peter Boockvar, chief investment advisor at Bleakley Advisory Group. “I’m hoping that Powell used this as an opportunity to explain what he’s doing.”

The tenor of the meeting may have been helped by the fact that the Fed over the past several weeks has come closer to Trump’s thinking.

At last week’s policy meeting of the Federal Open Market Committee, Powell and his fellow central bankers set forth a “patient” approach to future rate hikes. Powell himself told media members that he would need convincing proof that more tightening is necessary before trying to push further increases.

That was a considerable shift from just a month earlier, when officials indicated two rate hikes were likely in 2019 and Powell said another aspect of policy normalization, the reduction of the bond holdings on the Fed’s balance sheet, was on “autopilot.”

Trump has long worried that a tighter Fed would thwart the economic recovery and bull market.


Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: jeff cox
Keywords: news, cnbc, companies, powelltrump, things, politics, chairman, thoughts, policy, powell, market, weeks, trump, helping, meeting, trumps, soothe, fed


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Papa John’s CEO: We’re hopeful we can bring founder John Schnatter along after Starboard deal

Papa John’s CEO Steve Ritchie said that the company hopes that founder John Schnatter stops feuding with the pizza chain after it announced a deal with hedge fund Starboard Value. The deal comes after a turbulent year for Papa John’s. That’s part of a broader strategy to reintroduce consumers to Papa John’s as a pizza company known for high quality. For customers looking to taste a Papa John’s slice, Smith suggested taking advantage of a competitor’s promotion. The pizza company had been pursuin


Papa John’s CEO Steve Ritchie said that the company hopes that founder John Schnatter stops feuding with the pizza chain after it announced a deal with hedge fund Starboard Value. The deal comes after a turbulent year for Papa John’s. That’s part of a broader strategy to reintroduce consumers to Papa John’s as a pizza company known for high quality. For customers looking to taste a Papa John’s slice, Smith suggested taking advantage of a competitor’s promotion. The pizza company had been pursuin
Papa John’s CEO: We’re hopeful we can bring founder John Schnatter along after Starboard deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: amelia lucas, source, papa johns
Keywords: news, cnbc, companies, hopeful, ceo, founder, john, ritchie, schnatter, deal, company, johns, starboard, papa, smith, bring, pizza, chairman


Papa John's CEO: We're hopeful we can bring founder John Schnatter along after Starboard deal

Papa John’s CEO Steve Ritchie said that the company hopes that founder John Schnatter stops feuding with the pizza chain after it announced a deal with hedge fund Starboard Value.

“Obviously, we’re very hopeful that we can bring John along,” Ritchie told CNBC’s David Faber on “Squawk on the Street” Tuesday.

The embattled pizza chain announced a $200 million investment from the activist hedge fund Monday. The deal comes after a turbulent year for Papa John’s. Schnatter has been feuding with the company ever since he was ousted as chairman following a series of public scandals, including the use of the N-word on a conference call. The public relations crisis resulted in negative same-store sales growth for every quarter of 2018.

“The decision we arrived at is in the best interest of its shareholders and stakeholders,” Ritchie said.

The deal dilutes Schnatter’s stake in the company from 31 percent to 26 percent, a person familiar with the matter told CNBC. Schnatter presented a competing plan to Papa John’s special committee when he heard about Starboard’s proposal, but the company rejected it, according to a filing with the Securities and Exchange Commission.

In addition to the investment, Starboard’s chief executive, Jeff Smith, who is credited with turning around Olive Garden’s parent company Darden Restaurants, is now chairman of Papa John’s board.

Smith said that the current situation with Papa John’s is similar to Olive Garden before its turnaround and that Starboard plans to use a similar strategy that focuses on the pizza chain’s competitive advantages, like its six simple ingredients.

As the pizza chain prepares for a comeback, Ritchie said it is investing in expanding its menu while sticking to premium ingredients. Next month, the company is launching six new specialty pizzas. That’s part of a broader strategy to reintroduce consumers to Papa John’s as a pizza company known for high quality.

“They lost the way, not only in terms of image, but also in terms of messaging,” Smith said.

For customers looking to taste a Papa John’s slice, Smith suggested taking advantage of a competitor’s promotion. Domino’s is letting its loyalty members rack up points to redeem for a free pizza by eating a pie from anywhere — including Papa John’s — for a limited time. Papa John’s recently relaunched its own loyalty program.

Domino’s has been the leader in the pizza business, and has benefited from its strong technology. About 60 percent of Dominio’s U.S. sales come from its digital channels, according to the company’s latest earnings release.

“The appointment of Jeffrey Smith as Chairman is particularly welcome as his experience in foodservice will ensure that Papa John’s makes the right strategic moves over the next year. In a sense, the company is professionalizing itself after a period of poor management,” Neil Saunders, managing director of GlobalData Retail, said.

The pizza company had been pursuing an outright sale before settling on the deal with Starboard. The deal does not rule out a future sale, according to a person familiar with the situation.

— CNBC’s Lauren Hirsch contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: amelia lucas, source, papa johns
Keywords: news, cnbc, companies, hopeful, ceo, founder, john, ritchie, schnatter, deal, company, johns, starboard, papa, smith, bring, pizza, chairman


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Papa John’s jumps after Starboard’s Jeffrey Smith named chairman, fund invests $200 million

Shares of Papa John’s jumped more than 5.3 percent in the premarket Monday after the company announced activist hedge fund Starboard Value is taking a $200 million stake in the company. Papa John’s also said Starboard CEO Jeffrey Smith will become its chairman. Anthony Sanfilippo, the former chairman and CEO of Pinnacle Entertainment, will also join the company’s board of directors, as well as Papa John’s CEO Steve Ritchie. Schnatter is still on Papa John’s’ board of directors and holds a 31 per


Shares of Papa John’s jumped more than 5.3 percent in the premarket Monday after the company announced activist hedge fund Starboard Value is taking a $200 million stake in the company. Papa John’s also said Starboard CEO Jeffrey Smith will become its chairman. Anthony Sanfilippo, the former chairman and CEO of Pinnacle Entertainment, will also join the company’s board of directors, as well as Papa John’s CEO Steve Ritchie. Schnatter is still on Papa John’s’ board of directors and holds a 31 per
Papa John’s jumps after Starboard’s Jeffrey Smith named chairman, fund invests $200 million Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: fred imbert, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, smith, jeffrey, invests, starboards, papa, fund, johns, shares, ceo, named, company, million, chairman, street, jumps, wall, stake, schnatter


Papa John's jumps after Starboard's Jeffrey Smith named chairman, fund invests $200 million

Shares of Papa John’s jumped more than 5.3 percent in the premarket Monday after the company announced activist hedge fund Starboard Value is taking a $200 million stake in the company.

Papa John’s also said Starboard CEO Jeffrey Smith will become its chairman. Anthony Sanfilippo, the former chairman and CEO of Pinnacle Entertainment, will also join the company’s board of directors, as well as Papa John’s CEO Steve Ritchie.

The activist investor is making its investment through a convertible stock purchase, which totals to a stake ranging between 11 percent and 15 percent of Papa John’s shares outstanding. The Wall Street Journal first reported the news.

Monday’s news comes after Papa John’s started a special committee to review the relationship and arrangements made between the company and founder John Schnatter last year. Schnatter stepped down from his post as chairman in 2018 and resigned as CEO in December 2017 after a series of blunders, including using the N-word on a conference call in May. The company also sought to sell itself, but abandoned those plans after not receiving offers that met its valuation expectations.

Smith had not spoken to Schnatter but hopes to work with him, the Wall Street Journal reported. Schnatter is still on Papa John’s’ board of directors and holds a 31 percent stake in the company.

Papa John’s shares have fallen 37 percent over the past 12 months, lagging rival Domino’s Pizza. Shares of Domino’s are up 29.86 percent in that time period.

Click here to read the Journal’s full report.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: fred imbert, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, smith, jeffrey, invests, starboards, papa, fund, johns, shares, ceo, named, company, million, chairman, street, jumps, wall, stake, schnatter


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A ‘baby bear’ market scared the Fed into pausing and history shows that can lead to big comebacks

3:25 PM ET Fri, 1 Feb 2019 | 04:38The financial markets were convulsing with worry about a slowing economy, and the Federal Reserve chairman sought to reassure investors the central bank got the message. “A complex business cycle process is underway, whose outcome is yet to be determined. The chairman was Alan Greenspan and the year was 1995, shortly after the Fed had halted a year-long tightening campaign that investors feared might have gone too far. “If so, the return to 2 percent inflation c


3:25 PM ET Fri, 1 Feb 2019 | 04:38The financial markets were convulsing with worry about a slowing economy, and the Federal Reserve chairman sought to reassure investors the central bank got the message. “A complex business cycle process is underway, whose outcome is yet to be determined. The chairman was Alan Greenspan and the year was 1995, shortly after the Fed had halted a year-long tightening campaign that investors feared might have gone too far. “If so, the return to 2 percent inflation c
A ‘baby bear’ market scared the Fed into pausing and history shows that can lead to big comebacks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: michael santoli
Keywords: news, cnbc, companies, tightening, big, fed, bear, shows, policy, comebacks, slowing, lead, chairman, reserve, history, markets, market, pausing, growth, using, scared


A 'baby bear' market scared the Fed into pausing and history shows that can lead to big comebacks

After the best January in 32 years, what comes next? 3:25 PM ET Fri, 1 Feb 2019 | 04:38

The financial markets were convulsing with worry about a slowing economy, and the Federal Reserve chairman sought to reassure investors the central bank got the message.

“A complex business cycle process is underway, whose outcome is yet to be determined. For the Federal Reserve it is a time… to gauge whether policy is still appropriately positioned to foster sustained economic expansion…It is clear, especially in the last month or two, that inflationary pressures are easing.”

The chairman was Alan Greenspan and the year was 1995, shortly after the Fed had halted a year-long tightening campaign that investors feared might have gone too far.

But it could also have been Janet Yellen, who as chair said this in early 2016 not long after a controversial December 2015 rate hike left markets unsettled: “I consider it appropriate for the committee to proceed cautiously in adjusting policy…The decline in some indicators has heightened the risk that” growth could falter. “If so, the return to 2 percent inflation could take longer than expected and might require a more accommodative stance of monetary policy.”

Not so different from Chairman Jerome Powell last week, using a form of the word “patient” eight times in conveying policy flexibility after a December rate hike – and signals of more to come – unnerved markets.

You get the idea. Over more than three decades and four Fed chiefs, there have been a half-dozen sharp market downturns driven by a growth scare, outside of a U.S. recession. In each case, the market retrenchments relieved valuation pressures, punctured investor confidence, led to moderate growth and tame bond yields — and forced central bankers to pause tightening programs or even to ease policy.

The bullish case for stocks today rests on the expectation that the 20-percent bungee-jump late last year will prove another one of these “baby bear” markets that was a false recession alarm and will give way to a “just-right” Goldilocks growth phase and release stock prices toward new highs. A probable script, or a hackneyed tale too good to be true?

Tony Dwyer, strategist at Canaccord Genuity, has been characterizing the late-2018 collapse as the fourth “non-recession market crash” of the past four decades, using 1987, 1998 and 2011 as the relevant precedents — with bullish implications longer term but a hint that another short-term retreat might be needed.

The 20-percent break in the S&P 500 into late December, Dwyer argues, “more than discounts the slowing domestic and global economy, as long as the Fed stops making policy and communication mistakes, the Trump administration resolves the trade conflict with China, and the yield curve remains positive.”


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: michael santoli
Keywords: news, cnbc, companies, tightening, big, fed, bear, shows, policy, comebacks, slowing, lead, chairman, reserve, history, markets, market, pausing, growth, using, scared


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Former Starbucks CEO Howard Schultz hires ex-Obama aide as communications advisor as he mulls running for president in 2020

Howard Schultz has hired ex-Obama aide Bill Burton as a communications advisor as the former Starbucks CEO mulls running for president in 2020, according a source with direct knowledge of the matter. Schultz’s team has been speaking with potential staffers as the former Starbucks chairman debates whether to run for president as an independent, this source added. “There’s a lot of people who have reached out who wants to become involved,” this person close to the former Starbucks chairman told CN


Howard Schultz has hired ex-Obama aide Bill Burton as a communications advisor as the former Starbucks CEO mulls running for president in 2020, according a source with direct knowledge of the matter. Schultz’s team has been speaking with potential staffers as the former Starbucks chairman debates whether to run for president as an independent, this source added. “There’s a lot of people who have reached out who wants to become involved,” this person close to the former Starbucks chairman told CN
Former Starbucks CEO Howard Schultz hires ex-Obama aide as communications advisor as he mulls running for president in 2020 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: brian schwartz, getty images
Keywords: news, cnbc, companies, schultz, chairman, ceo, president, mulls, public, hires, source, howard, york, starbucks, exobama, run, burton, communications, team, running


Former Starbucks CEO Howard Schultz hires ex-Obama aide as communications advisor as he mulls running for president in 2020

Howard Schultz has hired ex-Obama aide Bill Burton as a communications advisor as the former Starbucks CEO mulls running for president in 2020, according a source with direct knowledge of the matter.

Schultz’s team has been speaking with potential staffers as the former Starbucks chairman debates whether to run for president as an independent, this source added.

“There’s a lot of people who have reached out who wants to become involved,” this person close to the former Starbucks chairman told CNBC on the condition of anonymity.

Burton and a spokeswoman for Schultz did not return repeated requests for comment.

The addition of Burton could potentially be a boost to Schultz’s elite PR team that already includes a number of high profile public relation executives including Steve Schmidt, who used to be a vice chairman at Edelman and managed Republican Sen. John McCain’s presidential campaign in 2008.

Burton also has experience in the fundraising circuit.

After his tenure as an advisor in President Obama’s administration, Burton founded Priorities USA Action, a super PAC that originally was dedicated to helping Obama get re-elected in 2012. Since then, the PAC has become a powerhouse and recently helped Democrats make inroads into the U.S. House of Representatives during the 2018 congressional midterm elections.

Burton’s most recent work includes being part of SKDKnickerbocker, a leading public relations firm that has offices in Washington D.C., New York, Albany and Los Angeles.

Schultz may need some help in the donor circuit with many Democratic Party financiers in New York going on the offensive against the billionaire executive and claiming he’s only going to hurt their party’s chance at defeating President Donald Trump in 2020.

Schultz had been a self proclaimed Democrat but made a surprise announcement on Sunday that he’s seriously considering a run for president but as an independent.


Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: brian schwartz, getty images
Keywords: news, cnbc, companies, schultz, chairman, ceo, president, mulls, public, hires, source, howard, york, starbucks, exobama, run, burton, communications, team, running


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Chairman of multibillion-dollar Chinese conglomerate: We’ll continue to bet big on China

China’s economy may be slowing at the moment, but investors shouldn’t count the Asian giant out in the long run, the chairman of a multibillion-dollar Chinese conglomerate said Wednesday. Fosun International’s Guo Guangchang is sometimes referred to as China’s version of American billionaire investor Warren Buffett. “I fully believe in the huge potential in China,” Guo told CNBC’s Nancy Hungerford at the World Economic Forum in Davos, Switzerland. Guo acknowledged the “downward pressure” facing


China’s economy may be slowing at the moment, but investors shouldn’t count the Asian giant out in the long run, the chairman of a multibillion-dollar Chinese conglomerate said Wednesday. Fosun International’s Guo Guangchang is sometimes referred to as China’s version of American billionaire investor Warren Buffett. “I fully believe in the huge potential in China,” Guo told CNBC’s Nancy Hungerford at the World Economic Forum in Davos, Switzerland. Guo acknowledged the “downward pressure” facing
Chairman of multibillion-dollar Chinese conglomerate: We’ll continue to bet big on China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: abigail ng
Keywords: news, cnbc, companies, chinas, chinese, economy, guo, chairman, continue, term, long, maintained, internationals, conglomerate, china, big, bet, cnbcs, multibilliondollar


Chairman of multibillion-dollar Chinese conglomerate: We'll continue to bet big on China

China’s economy may be slowing at the moment, but investors shouldn’t count the Asian giant out in the long run, the chairman of a multibillion-dollar Chinese conglomerate said Wednesday.

Fosun International’s Guo Guangchang is sometimes referred to as China’s version of American billionaire investor Warren Buffett. While the “Oracle of Omaha” has often said not to bet against the United States, Guo said he “of course” feels the same way about China.

“I fully believe in the huge potential in China,” Guo told CNBC’s Nancy Hungerford at the World Economic Forum in Davos, Switzerland.

Guo acknowledged the “downward pressure” facing the Chinese economy, but he maintained he is “bullish” in the long term. “China has a lot of private enterprises, so much innovation,” he said.

Last year, the country’s gross domestic product grew at 6.6 percent, which was the slowest pace since 1990. Authorities have boosted liquidity in the market and signaled further stimulus measures to cope with the slowdown.

Yet Guo maintained he’s confident in the long term, saying China’s “fundamental” driver of growth is a strong work ethic — and not, as some critics have claimed, that it “stole something from someone.”

“I am really happy that the drive and desire among Chinese people to have a better life remains intact,” he said.

“That’s why our biggest investments are always in China,” Guo said.

According to the company’s website, Fosun International’s total assets exceeded 560 billion yuan ($82.45 billion at today’s exchange rate) as of the end of 2017.

—Reuters and CNBC’s Huileng Tan contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: abigail ng
Keywords: news, cnbc, companies, chinas, chinese, economy, guo, chairman, continue, term, long, maintained, internationals, conglomerate, china, big, bet, cnbcs, multibilliondollar


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