I ditched cash and lived off credit cards for a week—and cut my spending almost in half

Inspired by financial literacy month and CNBC’s “SavingUp” challenge, I wanted to see if I could cut back on my spending by forgoing cash and using only my credit card for a week. Although cash diets work for some people, I was curious whether the opposite could work too. Before starting my cash-free week, I looked back at how much I typically spend over the course of seven days and cut it in half. My best estimate is that I spend around $200 a week on everything from groceries to Target runs to


Inspired by financial literacy month and CNBC’s “SavingUp” challenge, I wanted to see if I could cut back on my spending by forgoing cash and using only my credit card for a week. Although cash diets work for some people, I was curious whether the opposite could work too. Before starting my cash-free week, I looked back at how much I typically spend over the course of seven days and cut it in half. My best estimate is that I spend around $200 a week on everything from groceries to Target runs to
I ditched cash and lived off credit cards for a week—and cut my spending almost in half Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: emmie martin, cnbc make it
Keywords: news, cnbc, companies, half, seven, lived, cut, spending, week, card, days, using, ditched, spend, cash, cards, work, credit, weekand


I ditched cash and lived off credit cards for a week—and cut my spending almost in half

Inspired by financial literacy month and CNBC’s “SavingUp” challenge, I wanted to see if I could cut back on my spending by forgoing cash and using only my credit card for a week. Although cash diets work for some people, I was curious whether the opposite could work too. And the accountability of seeing all my purchases on my card statement has always been more motivating to me.

Before starting my cash-free week, I looked back at how much I typically spend over the course of seven days and cut it in half. My best estimate is that I spend around $200 a week on everything from groceries to Target runs to drinks with friends.

For my week-long experiment, I gave myself the goal of spending no more than $100 over seven days. I came pretty close, putting just $127 worth of charges on my card by the end. That netted me over $70 in savings.

Here’s what it was like using only plastic for a week.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: emmie martin, cnbc make it
Keywords: news, cnbc, companies, half, seven, lived, cut, spending, week, card, days, using, ditched, spend, cash, cards, work, credit, weekand


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Global investors haven’t been this worried about the economy since 2016

But 66% also see below-trend economic growth and low inflation, the highest percent since October 2016. Seventy percent expect a global recession to start in the second half of 2020 or later, while 86% do not believe the inversion of the U.S. Treasury yield curve signals an impending recession. The fund managers continue to see the biggest risks as the trade war and China’s growth slowdown. Fund managers did increase their exposure to cyclical risk in the month by adding stocks and reducing cash


But 66% also see below-trend economic growth and low inflation, the highest percent since October 2016. Seventy percent expect a global recession to start in the second half of 2020 or later, while 86% do not believe the inversion of the U.S. Treasury yield curve signals an impending recession. The fund managers continue to see the biggest risks as the trade war and China’s growth slowdown. Fund managers did increase their exposure to cyclical risk in the month by adding stocks and reducing cash
Global investors haven’t been this worried about the economy since 2016 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, managers, economy, global, havent, 2016, growth, stocks, half, zone, trade, worried, fund, second, rates, investors


Global investors haven't been this worried about the economy since 2016

Global fund managers have positioned their portfolios for slower growth and lower interest rates, but they do not foresee a recession until the second half of next year at the earliest, according to a new survey.

More than half, or 53%, of the fund managers in the monthly Bank of America Merrill Lynch survey believe the Fed is done raising interest rates, and just 13% expect higher global short-term rates, the lowest level since August 2012.

But 66% also see below-trend economic growth and low inflation, the highest percent since October 2016. Seventy percent expect a global recession to start in the second half of 2020 or later, while 86% do not believe the inversion of the U.S. Treasury yield curve signals an impending recession.

Betting against European stocks was the most crowded trade in April, for a second month. While investors are negative on Europe, the second-most crowded trade favors buying big-cap growth names in the U.S. and China, through FAANG and BAT.

FAANG stocks are Facebook, Amazon, Apple, Netflix and Alphabet, while BAT represents Baidu, Alibaba and Tencent. The third- and fourth-most crowded trades are long U.S. dollar and then long Treasurys.

There were 187 participants in the survey, which was conducted between April 5-11.

The fund managers continue to see the biggest risks as the trade war and China’s growth slowdown. Trade wars have edged out China’s growth slowdown as the bigger worry in 10 of the last 11 months. The dominant concerns since 2011 have been euro zone debt, possible breakdown of the euro zone, Chinese growth, populism, quantitative tightening and trade wars.

Fund managers did increase their exposure to cyclical risk in the month by adding stocks and reducing cash. But the investing pros are most heavily positioned in utilities, and their allocation to global bank stocks is the lowest since September 2016. They also favor cash and emerging markets vs. stocks and the euro zone.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, managers, economy, global, havent, 2016, growth, stocks, half, zone, trade, worried, fund, second, rates, investors


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Valuation expert says Uber is worth a little more than half the $100 billion it’s seeking

Uber’s real value could be much lower than the price where its public debut is set, according to one expert. The ride-hailing start-up is reportedly seeking a $100 billion price tag when it debuts on the New York Stock Exchange this spring. That translate into a share price of $54, although the total share count right now is “hazy” and that could change when the company updates its prospectus. The second rider-based valuation gives Uber a valuation of $58.6 billion for Uber’s equity, which, depe


Uber’s real value could be much lower than the price where its public debut is set, according to one expert. The ride-hailing start-up is reportedly seeking a $100 billion price tag when it debuts on the New York Stock Exchange this spring. That translate into a share price of $54, although the total share count right now is “hazy” and that could change when the company updates its prospectus. The second rider-based valuation gives Uber a valuation of $58.6 billion for Uber’s equity, which, depe
Valuation expert says Uber is worth a little more than half the $100 billion it’s seeking Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: kate rooney, jaden urbi
Keywords: news, cnbc, companies, expert, seeking, value, ubers, total, billion, little, valuation, share, market, half, worth, price, 100, translates, uber


Valuation expert says Uber is worth a little more than half the $100 billion it's seeking

Uber’s real value could be much lower than the price where its public debut is set, according to one expert.

The ride-hailing start-up is reportedly seeking a $100 billion price tag when it debuts on the New York Stock Exchange this spring. But NYU Stern professor Aswath Damodaran arrived at his own valuation that’s roughly 40 percent lower.

Damodaran, a closely followed valuation expert, used two frameworks to come up with two lower price tags.

The first is known as a “top-down” valuation, a conventional way to value companies based on the total addressable market, market share, margins and reinvestment to come up with a value. The other uses a framework based on the amount of users on a platform, or in this case, riders.

His first version gives Uber a value for equity of about $61.7 billion. That translate into a share price of $54, although the total share count right now is “hazy” and that could change when the company updates its prospectus. The second rider-based valuation gives Uber a valuation of $58.6 billion for Uber’s equity, which, depending on the share count, translates to a share price of $51 per share, according to Damodaran.

Both estimates are well below the expected $100 billion, which translates into a roughly $95 per share, that Uber is reportedly seeking.

“The market is a pricing game and not a value game,” Damodaran told CNBC in a phone interview. “When you have young companies like these it’s all mood and momentum driving prices.”


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: kate rooney, jaden urbi
Keywords: news, cnbc, companies, expert, seeking, value, ubers, total, billion, little, valuation, share, market, half, worth, price, 100, translates, uber


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Valuation expert says Uber is worth a little more than half the $100 billion it’s seeking

Uber’s real value could be much lower than the price where its public debut is set, according to one expert. The ride-hailing start-up is reportedly seeking a $100 billion price tag when it debuts on the New York Stock Exchange this spring. That translate into a share price of $54, although the total share count right now is “hazy” and that could change when the company updates its prospectus. The second rider-based valuation gives Uber a valuation of $58.6 billion for Uber’s equity, which, depe


Uber’s real value could be much lower than the price where its public debut is set, according to one expert. The ride-hailing start-up is reportedly seeking a $100 billion price tag when it debuts on the New York Stock Exchange this spring. That translate into a share price of $54, although the total share count right now is “hazy” and that could change when the company updates its prospectus. The second rider-based valuation gives Uber a valuation of $58.6 billion for Uber’s equity, which, depe
Valuation expert says Uber is worth a little more than half the $100 billion it’s seeking Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: kate rooney, jaden urbi
Keywords: news, cnbc, companies, expert, seeking, value, ubers, total, billion, little, valuation, share, market, half, worth, price, 100, translates, uber


Valuation expert says Uber is worth a little more than half the $100 billion it's seeking

Uber’s real value could be much lower than the price where its public debut is set, according to one expert.

The ride-hailing start-up is reportedly seeking a $100 billion price tag when it debuts on the New York Stock Exchange this spring. But NYU Stern professor Aswath Damodaran arrived at his own valuation that’s roughly 40 percent lower.

Damodaran, a closely followed valuation expert, used two frameworks to come up with two lower price tags.

The first is known as a “top-down” valuation, a conventional way to value companies based on the total addressable market, market share, margins and reinvestment to come up with a value. The other uses a framework based on the amount of users on a platform, or in this case, riders.

His first version gives Uber a value for equity of about $61.7 billion. That translate into a share price of $54, although the total share count right now is “hazy” and that could change when the company updates its prospectus. The second rider-based valuation gives Uber a valuation of $58.6 billion for Uber’s equity, which, depending on the share count, translates to a share price of $51 per share, according to Damodaran.

Both estimates are well below the expected $100 billion, which translates into a roughly $95 per share, that Uber is reportedly seeking.

“The market is a pricing game and not a value game,” Damodaran told CNBC in a phone interview. “When you have young companies like these it’s all mood and momentum driving prices.”


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: kate rooney, jaden urbi
Keywords: news, cnbc, companies, expert, seeking, value, ubers, total, billion, little, valuation, share, market, half, worth, price, 100, translates, uber


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Signs of a global economic recovery in the second half are emerging

Worries about the global economy percolate even as equities around the world rise, but an economist at Ned Davis Research says the worst of it may be over. Alejandra Grindal, senior international economist at the firm, said the aggregate of manufacturing purchasing managers’ indexes (PMIs) from across the globe stabilized in March after falling for 10 straight months. Meanwhile, the number of countries reporting expansion in the manufacturing sector rose for the first time in six months. “We mig


Worries about the global economy percolate even as equities around the world rise, but an economist at Ned Davis Research says the worst of it may be over. Alejandra Grindal, senior international economist at the firm, said the aggregate of manufacturing purchasing managers’ indexes (PMIs) from across the globe stabilized in March after falling for 10 straight months. Meanwhile, the number of countries reporting expansion in the manufacturing sector rose for the first time in six months. “We mig
Signs of a global economic recovery in the second half are emerging Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: fred imbert, str, afp, getty images
Keywords: news, cnbc, companies, global, emerging, economic, recovery, ned, months, expansion, half, monetary, international, grindal, second, economist, signs, manufacturing, research


Signs of a global economic recovery in the second half are emerging

Worries about the global economy percolate even as equities around the world rise, but an economist at Ned Davis Research says the worst of it may be over.

Alejandra Grindal, senior international economist at the firm, said the aggregate of manufacturing purchasing managers’ indexes (PMIs) from across the globe stabilized in March after falling for 10 straight months. Meanwhile, the number of countries reporting expansion in the manufacturing sector rose for the first time in six months. She noted these indicators usually bottom about four to eight months “before the next expansion begins.”

“We might be getting signs of a global economic recovery in the second half of the year,” Grindal said at the Ned Davis Research annual investment conference in Boston. “At least it’s sort of giving you some rays of light.”

Grindal’s comments follow the International Monetary Fund decreasing its 2019 growth outlook to 3.3%, which would be the lowest since the financial crisis, from 3.5%. In its report, the IMF highlighted risks such as the potential of increasing trade tensions as well as tighter monetary policy from the Federal Reserve.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: fred imbert, str, afp, getty images
Keywords: news, cnbc, companies, global, emerging, economic, recovery, ned, months, expansion, half, monetary, international, grindal, second, economist, signs, manufacturing, research


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Gender pay gap widens at almost half of UK firms

The gender pay gap widened at almost half of British firms in 2018, according to an analysis of new data. U.K. firms with at least 250 employees were legally required to submit their pay gap data to the government by Thursday. The median pay gap is calculated by comparing the discrepancy in pay between a company’s middle-ranking male and female workers. The company said in its latest gender pay gap report that its numbers reflected a low number of female pilots. In Credit Suisse’s latest gender


The gender pay gap widened at almost half of British firms in 2018, according to an analysis of new data. U.K. firms with at least 250 employees were legally required to submit their pay gap data to the government by Thursday. The median pay gap is calculated by comparing the discrepancy in pay between a company’s middle-ranking male and female workers. The company said in its latest gender pay gap report that its numbers reflected a low number of female pilots. In Credit Suisse’s latest gender
Gender pay gap widens at almost half of UK firms Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: chloe taylor, cultura rm, matelly, getty images
Keywords: news, cnbc, companies, data, gender, pay, report, number, female, firms, widens, half, uk, gap, median


Gender pay gap widens at almost half of UK firms

The gender pay gap widened at almost half of British firms in 2018, according to an analysis of new data.

U.K. firms with at least 250 employees were legally required to submit their pay gap data to the government by Thursday.

The data, available from the U.K. government website, showed that almost 80 percent of firms had a gender pay gap that favored men, while 14% of firms paid their female employees more than men.

On average, men were paid 11.8% more than women in the U.K. last year, based on a list of companies with more than 250 employees.

The median pay gap is calculated by comparing the discrepancy in pay between a company’s middle-ranking male and female workers.

According to a BBC analysis of the data, the pay gap widened at 45% of British firms in 2018, while 7% of companies reported no change.

Ryanair was ranked among the worst performers, with a median pay gap of 64%.

The company said in its latest gender pay gap report that its numbers reflected a low number of female pilots.

“Although it is a global feature of the aviation industry that more males than females choose to enter the pilot profession, we continue to see a welcome increase in the number of female pilot applicants,” the airline said. “In the past year we have doubled the number of female pilots in the U.K. and are committed to continuing this growth in the coming years.”

Other companies with gender pay gaps above the 11.8% average included Credit Suisse, which had a gap of more than 29% in the U.K., and luxury fashion brand Chanel, which had a median pay gap of more than 13%, according to the data.

In Credit Suisse’s latest gender pay gap report, published in March, U.K. CEO David Mathers admitted the bank’s pay gap was “far from good enough.”

“The principal reason for this disparity has been well covered in the media over the past 12 months: there are not enough senior women in financial services organisations,” he said. “As an industry, we have to work together as a whole to effect change and recognize that it is only by every employer playing their part that permanent change will begin to shine through.”

Clothing retailer Primark, which employs more than 20,000 people in the U.K., reported an equal hourly wage for its middle-paid male and female workers. In its 2017 gender pay gap report, the company acknowledged that while it employed more female retail assistants, the majority of its senior positions were held by men.

Spokespersons for Ryanair, Chanel and Primark were not immediately available for comment when contacted by CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: chloe taylor, cultura rm, matelly, getty images
Keywords: news, cnbc, companies, data, gender, pay, report, number, female, firms, widens, half, uk, gap, median


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NFL linebacker Brandon Copeland saves 90% of his pay. Here’s how he does it

Since then, Copeland says he’s learned to live on less. “I’m not too flashy; I don’t need a lot.” “I need to be maximizing every single day I have in the NFL because I don’t know when this NFL platform will be swept right under my feet.” Start investing today”Ultimately, being able to cut your expenses will help you save money so that you can have a nice nest egg,” Copeland said. This offseason, he returned to his alma mater to teach a class on financial literacy, which he’s nicknamed “Life 101.


Since then, Copeland says he’s learned to live on less. “I’m not too flashy; I don’t need a lot.” “I need to be maximizing every single day I have in the NFL because I don’t know when this NFL platform will be swept right under my feet.” Start investing today”Ultimately, being able to cut your expenses will help you save money so that you can have a nice nest egg,” Copeland said. This offseason, he returned to his alma mater to teach a class on financial literacy, which he’s nicknamed “Life 101.
NFL linebacker Brandon Copeland saves 90% of his pay. Here’s how he does it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: sharon epperson, jessica dickler, scott w grau, icon sportswire, getty images, -brandon copeland, nfl linebacker
Keywords: news, cnbc, companies, 90, league, heres, does, copeland, need, half, saves, dont, learned, money, financial, linebacker, brandon, pay, nfl, hes, save


NFL linebacker Brandon Copeland saves 90% of his pay. Here's how he does it

Since then, Copeland says he’s learned to live on less. In fact, he said, he spends only about 10% to 15% of his income.

“I’m not too flashy; I don’t need a lot.”

“I realized that I have it backwards,” he said of his early days in the league. “I need to be maximizing every single day I have in the NFL because I don’t know when this NFL platform will be swept right under my feet.”

For others — whether they’re professional athletes or not — he advises shooting to save at least half of your salary, far more than even most financial advisors suggest is feasible. (One popular guideline among experts is to spend half of your take home pay on necessities, put 20% toward savings and leave 30% for discretionary spending, otherwise known as the “50-30-20 rule.”)

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“Ultimately, being able to cut your expenses will help you save money so that you can have a nice nest egg,” Copeland said.

To achieve such a goal, he said, his competitive mindset helps. “If you just challenge yourself, you’ll be surprised at what you can accomplish.”

“The biggest money lesson I’ve learned is basically don’t try to keep up with the Joneses,” he said. “If that’s not something of value to you, then don’t chase it.”

That mentality is what sets him (far) apart from his peers. In fact, nearly 80% of retired players go broke in their first two years out of the league, according to Sports Illustrated.

Now he’s sharing his conservative approach with students, too. This offseason, he returned to his alma mater to teach a class on financial literacy, which he’s nicknamed “Life 101.”


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: sharon epperson, jessica dickler, scott w grau, icon sportswire, getty images, -brandon copeland, nfl linebacker
Keywords: news, cnbc, companies, 90, league, heres, does, copeland, need, half, saves, dont, learned, money, financial, linebacker, brandon, pay, nfl, hes, save


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52% of managers say March Madness boosts office productivity

Giving into March Madness at work can actually boost your productivity and morale, according to new research from global staffing firm Robert Half. Almost three-fourths of managers say college basketball tournament activities lift their staff’s morale, and 52 percent also see productivity benefits. “Many companies recognize it’s impractical to try to downplay the office buzz around major sporting events like March Madness,” said Stephanie Naznitsky, executive director of OfficeTeam, a division o


Giving into March Madness at work can actually boost your productivity and morale, according to new research from global staffing firm Robert Half. Almost three-fourths of managers say college basketball tournament activities lift their staff’s morale, and 52 percent also see productivity benefits. “Many companies recognize it’s impractical to try to downplay the office buzz around major sporting events like March Madness,” said Stephanie Naznitsky, executive director of OfficeTeam, a division o
52% of managers say March Madness boosts office productivity Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: kerri anne renzulli, streeter lecka, getty images sport, getty images
Keywords: news, cnbc, companies, employees, work, college, productivity, half, say, boosts, managers, madness, tournament, workers, robert, office, 52


52% of managers say March Madness boosts office productivity

If your manager is getting on you for incessantly talking about your busted bracket, boasting about your college basketball team or discussing what happened in last night’s games, you now have the perfect excuse.

Giving into March Madness at work can actually boost your productivity and morale, according to new research from global staffing firm Robert Half.

Almost three-fourths of managers say college basketball tournament activities lift their staff’s morale, and 52 percent also see productivity benefits.

Maybe that’s why 75 percent of employers don’t fight the basketball fervor but rather embrace the national tournament by organizing sports-related festivities. The most popular are friendly competitions, offered by 45 percent of organizations. (The survey didn’t specify if office winners earn just bragging rights or something greener, too.)

Companies also celebrated March Madness by allowing employees to wear their team apparel (43 percent of organizations do this), watch games in the office (29 percent), and decorate their workspaces (28 percent).

“Many companies recognize it’s impractical to try to downplay the office buzz around major sporting events like March Madness,” said Stephanie Naznitsky, executive director of OfficeTeam, a division of Robert Half. “Organizing activities tied to sports can provide welcome distractions that help lift workers’ spirits and engagement.”

The positive effects of hosting such sporting activities at work isn’t evenly shared across the country, the Robert Half survey found.

Managers in Des Moines, Iowa; Indianapolis, Ind.; and Raleigh, N.C., saw the biggest uplift in their staff’s workplace attitudes, while leaders in Miami, Fla.; Los Angeles, Calif.; and Detroit, Mich., reaped the most benefits from their employees increased productivity.

Of course, the college tournament comes with one major downside for managers: Almost half of workers admit they get distracted at work by sports, up from 38 percent in 2016. The most frequent offenders? Men and younger employees.

Almost 65 percent of male professionals say they get sidetracked by sports when they should be completing tasks vs. 33 percent of women. And even more millennial employees are guilty; 66 percent of workers ages 18 to 34 find that sports waylay them, while only 43 percent of Gen X staff and 27 percent of Baby Boomers say the same.

Don’t Miss: The winner of Warren Buffett’s March Madness office pool could get $1 million a year for life

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Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: kerri anne renzulli, streeter lecka, getty images sport, getty images
Keywords: news, cnbc, companies, employees, work, college, productivity, half, say, boosts, managers, madness, tournament, workers, robert, office, 52


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Likely Fed nominee Stephen Moore thinks rates should be cut by half a percentage point

Presumptive Federal Reserve nominee Stephen Moore thinks the central bank should cut interest rates by half a percentage point, a position well out of line with other policymakers. President Donald Trump said last week that he intends to nominate Moore for a Fed governorship. Shortly after the Fed enacted its fourth rate hike of 2018 in December, Moore wrote in a Heritage blog post that Powell should “do the honorable thing … and resign.” Moore’s reasons for wanting a 50 basis point rate cut w


Presumptive Federal Reserve nominee Stephen Moore thinks the central bank should cut interest rates by half a percentage point, a position well out of line with other policymakers. President Donald Trump said last week that he intends to nominate Moore for a Fed governorship. Shortly after the Fed enacted its fourth rate hike of 2018 in December, Moore wrote in a Heritage blog post that Powell should “do the honorable thing … and resign.” Moore’s reasons for wanting a 50 basis point rate cut w
Likely Fed nominee Stephen Moore thinks rates should be cut by half a percentage point Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: jeff cox
Keywords: news, cnbc, companies, half, times, fed, reasons, stephen, trump, percentage, likely, think, point, lot, thinks, things, regret, rates, rate, nominee, moore


Likely Fed nominee Stephen Moore thinks rates should be cut by half a percentage point

Presumptive Federal Reserve nominee Stephen Moore thinks the central bank should cut interest rates by half a percentage point, a position well out of line with other policymakers.

In an interview with The New York Times, the Heritage Foundation fellow and former Wall Street Journal editorial board member backed off on earlier criticism he had for the Fed and specifically its chairman, Jerome Powell. President Donald Trump said last week that he intends to nominate Moore for a Fed governorship.

Shortly after the Fed enacted its fourth rate hike of 2018 in December, Moore wrote in a Heritage blog post that Powell should “do the honorable thing … and resign.”

He backtracked on that sentiment in the Times interview, but stuck to his position that the Fed needs to rethink the criteria it uses for monetary policy.

“I was really angry” about the December increase, Moore said. “I was furious — and Trump was furious, too. I just thought that the December rate increase was inexplicable. Commodity prices were already falling dramatically.”

“I said these things that I do regret saying, because I think Powell’s doing the best job that he can,” he added. “Do I regret the rhetoric that I used? Yes. Was I right? Yes.”

Moore’s reasons for wanting a 50 basis point rate cut were not delineated in the Times piece. According to the Fed’s latest projections, no members think rates should come down that far.

Moore added that monetary policy should be pegged to commodity prices, a view shared by few other economists.

He also maintained that he will not be a rubber stamp for Trump.

“Do the president and I think a lot alike on a lot of things? Absolutely. That’s one of the reasons he picked me to be an economic adviser and be on the Fed, because we share a lot of the same economic philosophy,” he said. But “I don’t think anybody can reasonably say I am a sycophant for Trump, because I’m not.”

Moore did not immediately return a call for comment.

For the full Times report, go here.


Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: jeff cox
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Goldman Sachs says half of all the junior bankers it hires must be women

Goldman Sachs expanded a year-old program to hire more workers from underrepresented groups, including goals for black and Latino hires for the first time. The firm set a lower goal for black hires in the U.K., where it is seeking 9 percent level. More than 70 percent of new hires are at the analyst and associate level, the bank said. Last year, the firm said that half of all analysts hired from universities had to be women by 2021. While Goldman said it pays women and men in similar roles equal


Goldman Sachs expanded a year-old program to hire more workers from underrepresented groups, including goals for black and Latino hires for the first time. The firm set a lower goal for black hires in the U.K., where it is seeking 9 percent level. More than 70 percent of new hires are at the analyst and associate level, the bank said. Last year, the firm said that half of all analysts hired from universities had to be women by 2021. While Goldman said it pays women and men in similar roles equal
Goldman Sachs says half of all the junior bankers it hires must be women Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: hugh son, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, bankers, white, female, sachs, goldman, firm, hires, junior, half, black, hired, latino, women


Goldman Sachs says half of all the junior bankers it hires must be women

Goldman Sachs expanded a year-old program to hire more workers from underrepresented groups, including goals for black and Latino hires for the first time.

The firm has set “aspirational goals” of having half of all new analysts and entry-level associates hired in the U.S. be women, 11 percent black, and 14 percent Latino, according to a staff memo sent Monday. The firm set a lower goal for black hires in the U.K., where it is seeking 9 percent level.

By increasing the ranks of women and minorities at entry-level positions — analysts and associates are the two most junior job titles in Wall Street’s hierarchy — Goldman is hoping to improve diversity across the firm over time. More than 70 percent of new hires are at the analyst and associate level, the bank said.

Goldman, like Wall Street overall, is dominated by white males, particularly at senior levels. About 60 percent of the bank’s U.S. employees are white, while 38 percent are female, 5.4 percent are black and 8.5 percent Latino, according to the firm’s most recent disclosure. When it comes to top managers, 80 percent are white, 22 percent are female, 2.9 percent are black and 4.3 percent are Latino.

While the targets “are aspirational, we have access to an incredible talent pool and believe they can be achieved,” CEO David Solomon and two of his deputies said in the memo. “We are also exploring new ways to increase representation of the LGBT, disabled and veterans communities.”

Solomon, who took over in October, is expanding a program begun under his predecessor Lloyd Blankfein. Last year, the firm said that half of all analysts hired from universities had to be women by 2021.

When it comes to more experienced hires, the bank said it would require managers to interview at least two qualified “diverse” candidates for each open position.

“Experienced lateral hiring has been an important part of the firm’s growth,” Solomon said. “However, it has also been a significant contributor to the dilution of our diversity at more senior levels and we need to address this.”

The bank’s announcement comes ahead of gender pay gap disclosures required in the U.K. While Goldman said it pays women and men in similar roles equally, when taking performance into account, the bank said it has to increase the numbers of senior-ranked women to improve the gap.

Other banks have made similar efforts. Citigroup said last year that half of those hired at the analyst and associate level globally would be female, and 30 percent in the U.S. would be black or Latino.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: hugh son, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, bankers, white, female, sachs, goldman, firm, hires, junior, half, black, hired, latino, women


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