Goldman Sachs: As long as consumers keep shopping, there’s hope for the economy

For a market that’s become increasingly jittery over the U.S. economy, Goldman Sachs has a message: All is not lost. “Three of the key drivers of consumer spending send a positive message for the near-term outlook,” the bank’s analysts wrote. November’s jobs data released on Friday showed lower-than-expected payrolls growth but wages growing at the fastest rate in nearly a decade. “Second, the saving rate looks elevated relative to the high level of household wealth, even after the recent sell-o


For a market that’s become increasingly jittery over the U.S. economy, Goldman Sachs has a message: All is not lost. “Three of the key drivers of consumer spending send a positive message for the near-term outlook,” the bank’s analysts wrote. November’s jobs data released on Friday showed lower-than-expected payrolls growth but wages growing at the fastest rate in nearly a decade. “Second, the saving rate looks elevated relative to the high level of household wealth, even after the recent sell-o
Goldman Sachs: As long as consumers keep shopping, there’s hope for the economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-09  Authors: javier e david, david goldman, getty images
Keywords: news, cnbc, companies, theres, goldman, long, strong, economy, consumer, wages, sentiment, consumers, stocks, hope, recent, sachs, spending, shopping, growth, likely


Goldman Sachs: As long as consumers keep shopping, there's hope for the economy

For a market that’s become increasingly jittery over the U.S. economy, Goldman Sachs has a message: All is not lost.

Wall Street’s head-spinning volatility, which last week shaved more than 1,000 points off the Dow Jones Industrial Average, has pushed stocks into correction territory and raised fears for 2019. Although falling stocks and rising interest rates will continue to weigh on sentiment, those negatives are likely to be offset by higher wages and oil prices in retreat, Goldman said in a research note to clients Saturday.

“Three of the key drivers of consumer spending send a positive message for the near-term outlook,” the bank’s analysts wrote.

“First, real disposable income is likely to continue its strong growth due to accelerating wage growth, and recent declines in the oil price are likely to be a significant tailwind to spending in 2019,” Goldman said. November’s jobs data released on Friday showed lower-than-expected payrolls growth but wages growing at the fastest rate in nearly a decade.

“Second, the saving rate looks elevated relative to the high level of household wealth, even after the recent sell-off,” the analysts wrote. And with consumer spending — which comprises 2/3rd of the vast U.S. economy — still strong, “consumer sentiment is likely to stay elevated, reflecting strong underlying economic fundamentals as well as optimism about the labor market and income growth,” the firm said.


Company: cnbc, Activity: cnbc, Date: 2018-12-09  Authors: javier e david, david goldman, getty images
Keywords: news, cnbc, companies, theres, goldman, long, strong, economy, consumer, wages, sentiment, consumers, stocks, hope, recent, sachs, spending, shopping, growth, likely


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8 tips on overcoming even the most crippling setbacks

While most people probably would’ve stopped after their 20th, 80th or 100th rejection, I just kept pushing, no matter how uncomfortable it was. I revised our pitch deck again and again until it was strong enough to find the right partners. The best way to prepare for whatever the future holds is to do everything to the best of your ability. There will always be setbacks You may have to go against the grain for years. The experiences we value most in life are often the most challenging.


While most people probably would’ve stopped after their 20th, 80th or 100th rejection, I just kept pushing, no matter how uncomfortable it was. I revised our pitch deck again and again until it was strong enough to find the right partners. The best way to prepare for whatever the future holds is to do everything to the best of your ability. There will always be setbacks You may have to go against the grain for years. The experiences we value most in life are often the most challenging.
8 tips on overcoming even the most crippling setbacks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: hours, digitalvision, getty images
Keywords: news, cnbc, companies, crippling, best, value, strong, overcoming, stopped, right, tips, uncomfortable, zone, wouldve, way, setbacks


8 tips on overcoming even the most crippling setbacks

I pitched investors for three years before I landed one. While most people probably would’ve stopped after their 20th, 80th or 100th rejection, I just kept pushing, no matter how uncomfortable it was. I revised our pitch deck again and again until it was strong enough to find the right partners.

If you do something, do it with passion and purpose. The best way to prepare for whatever the future holds is to do everything to the best of your ability. Enjoy the journey. There will always be setbacks You may have to go against the grain for years. The experiences we value most in life are often the most challenging. They push you out of your comfort zone and help you grow.

—Melanie Perkins, co-founder and CEO of Canva


Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: hours, digitalvision, getty images
Keywords: news, cnbc, companies, crippling, best, value, strong, overcoming, stopped, right, tips, uncomfortable, zone, wouldve, way, setbacks


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Three experts weigh in on what to expect from a flattening yield curve

The yield curve hit its flattest level in more than a decade this week, contributing to the Dow plunging more than 800 points on Tuesday. A flattening yield curve is traditionally viewed as a sign of slowing economic growth, which could signal a recession is near. “If the economy does slow,” he asks, “does it stop the inflation progression?” Moynihan does note that the yield curve is good at predicting recessions, but questions whether the relationship is one of causation or the result of outcom


The yield curve hit its flattest level in more than a decade this week, contributing to the Dow plunging more than 800 points on Tuesday. A flattening yield curve is traditionally viewed as a sign of slowing economic growth, which could signal a recession is near. “If the economy does slow,” he asks, “does it stop the inflation progression?” Moynihan does note that the yield curve is good at predicting recessions, but questions whether the relationship is one of causation or the result of outcom
Three experts weigh in on what to expect from a flattening yield curve Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: tyler bailey, jaap arriens, nurphoto, getty images, adam jeffery, brendan mcdermid, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, fed, curve, growth, slow, moynihan, flattening, rate, weigh, experts, yield, strong, economy, expect, does


Three experts weigh in on what to expect from a flattening yield curve

The yield curve hit its flattest level in more than a decade this week, contributing to the Dow plunging more than 800 points on Tuesday. A flattening yield curve is traditionally viewed as a sign of slowing economic growth, which could signal a recession is near.

Here’s what three experts say could happen next:

· Leuthold Group chief investment strategist James Paulsen has one big question. “If the economy does slow,” he asks, “does it stop the inflation progression?” It’s a question that may give market bulls pause heading into the final weeks of the year. “The path for the bull is getting really narrow because you could fall off on too weak or too fast [growth] here.” But it’s not all doom and gloom, as Paulsen says a great opportunity to get into the market could be on the horizon. If inflation pressure slows down, “maybe we scare everybody — ‘a recession’s coming’ — and that might be a great buying opportunity for one more run.”

· Bleakley Advisory Group chief investment officer Peter Boockvar puts the Fed in the spotlight. “Just as the Fed picked up their rate hike pace from one per year to three per year in the beginning of 2017, we started to see the inversion,” says Boockvar. He also notes that 80% of the rate hike cycles dating back to World War II have pushed the U.S. economy into a recession. But what is it about the U.S. economy that makes it vulnerable to these hikes? “We are a credit-sensitive, credit-dependent economy, so if the cost of capital goes up, it’s naturally going to slow growth.”

· Bank of America CEO Brian T. Moynihan has what he calls a “half full, half empty view” of the situation. “We feel very good about the U.S. economy. The prediction is we’ll slow a little bit, but underneath that is a strong growth rate that we feel very strong about,” says Moynihan. “Unemployment, wage growth, all the factors are very strong, including small business enthusiasm.” Moynihan does note that the yield curve is good at predicting recessions, but questions whether the relationship is one of causation or the result of outcomes based on Fed rate hikes. Regardless, he remains optimistic, saying, “The reality is — what you’re seeing underneath is a prediction that next year’s economy is going to grow.”

Bottom Line: The flattening and potential inversion of the yield curve probably indicates an economic slowdown, but there are still indicators of continued growth ahead. Investors should take a wait-and-see approach.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: tyler bailey, jaap arriens, nurphoto, getty images, adam jeffery, brendan mcdermid, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, fed, curve, growth, slow, moynihan, flattening, rate, weigh, experts, yield, strong, economy, expect, does


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Wilbur Ross: Economy is strong — media blows worries out of proportion

Commerce Secretary Wilbur Ross said Tuesday the U.S. economy is in good shape, and he blamed the media for stoking worries about a slowdown. “First of all the economy itself is really strong,” Ross said on CNBC’s “Squawk Box.” “You’ve seen the unemployment figures; you’ve seen the new claims; you’ve seen industrial production; you’ve seen executive confidence; you’ve seen consumer confidence. In the CNBC interview Tuesday, Ross said Trump got “very good” assurances from Xi on trade. “I do believ


Commerce Secretary Wilbur Ross said Tuesday the U.S. economy is in good shape, and he blamed the media for stoking worries about a slowdown. “First of all the economy itself is really strong,” Ross said on CNBC’s “Squawk Box.” “You’ve seen the unemployment figures; you’ve seen the new claims; you’ve seen industrial production; you’ve seen executive confidence; you’ve seen consumer confidence. In the CNBC interview Tuesday, Ross said Trump got “very good” assurances from Xi on trade. “I do believ
Wilbur Ross: Economy is strong — media blows worries out of proportion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: berkeley lovelace jr, bill clark, cq-roll call group, getty images
Keywords: news, cnbc, companies, strong, blows, economy, technology, seen, trump, worries, youve, proportion, media, president, wilbur, xi, trade, rates, ross


Wilbur Ross: Economy is strong — media blows worries out of proportion

Commerce Secretary Wilbur Ross said Tuesday the U.S. economy is in good shape, and he blamed the media for stoking worries about a slowdown.

“First of all the economy itself is really strong,” Ross said on CNBC’s “Squawk Box.” “You’ve seen the unemployment figures; you’ve seen the new claims; you’ve seen industrial production; you’ve seen executive confidence; you’ve seen consumer confidence. Those are all very, very high.”

“It’s the press that seems more obsessed with what may lie in the future,” he added.

Ross said instead of “speculating,” the media should judge the Trump administration by what it does “not what they think may be some boogeyman hiding out in the future.”

Major Wall Street firms, including Goldman Sachs and J.P. Morgan, expect to see U.S. growth slowing to below 2 percent in the second half of 2019. Economists have cited a number of concerns, including the Federal Reserve hiking interest rates and the impact of tariffs.

After its most recent hike, in September, the Fed projected three rate increases for next year. But in a speech last week, Fed Chairman Jerome Powell said rates are “just below” neutral, suggesting that concerns about a more aggressive path higher for rates may no longer be warranted.

Ross’ appearance on CNBC came after President Donald Trump and Chinese President Xi Jinping agreed over the weekend to a trade cease fire, in which both sides put on hold for 90 days any new tariffs on each other’s goods while talks to settle their disputes continue. The clock began on Saturday, the White House said Monday, correcting top economic aide Larry Kudlow’s earlier statement.

U.S. Trade Representative Robert Lighthizer will lead the negotiations that attempt to get Beijing to modify what Trump sees as its unfair trade practices such as barriers to Chinese markets and forced technology transfers. Ross and Treasury Secretary Steven Mnuchin will also be involved in the talks.

In the CNBC interview Tuesday, Ross said Trump got “very good” assurances from Xi on trade. “I do believe if they live up to the indications they had with President Trump, everybody will be really happy.”

Ross added during the 90-day period the Trump administration hopes to “pin down” details with China for a deal.

Mnuchin expressed optimism during an interview Monday with CNBC that the Trump-Xi framework can be turned into a “real agreement.” He said the U.S. received commitments for concessions on several key issues. “This isn’t just about buying things. This is about opening markets to U.S. companies and protecting U.S. technology. Those are very important structural issues to the president.”


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: berkeley lovelace jr, bill clark, cq-roll call group, getty images
Keywords: news, cnbc, companies, strong, blows, economy, technology, seen, trump, worries, youve, proportion, media, president, wilbur, xi, trade, rates, ross


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Chart suggests a Santa Claus rally is not coming to Wall Street

DataTrek Research is out with a chart suggesting stocks will struggle this month — pouring cold water on the likelihood of a “Santa Claus” rally that traditionally boosts stocks in December. “The minute the global economy started to roll over, earnings revisions began to roll over, and that’s the period were in now.” Colas mapped out his thesis in a chart showing earnings revisions’ impact on stocks. During the first three quarters of 2018, “we had 20-25 percent earnings growth,” he said. “That


DataTrek Research is out with a chart suggesting stocks will struggle this month — pouring cold water on the likelihood of a “Santa Claus” rally that traditionally boosts stocks in December. “The minute the global economy started to roll over, earnings revisions began to roll over, and that’s the period were in now.” Colas mapped out his thesis in a chart showing earnings revisions’ impact on stocks. During the first three quarters of 2018, “we had 20-25 percent earnings growth,” he said. “That
Chart suggests a Santa Claus rally is not coming to Wall Street Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-01  Authors: stephanie landsman, source, scott eells, bloomberg, getty images, burhaan kinu, hindustan times, michael nagle, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, strong, suggests, rally, growth, stocks, earnings, claus, going, santa, quarter, revisions, colas, coming, sp, street, roll, wall, chart


Chart suggests a Santa Claus rally is not coming to Wall Street

DataTrek Research is out with a chart suggesting stocks will struggle this month — pouring cold water on the likelihood of a “Santa Claus” rally that traditionally boosts stocks in December.

According to the firm’s co-founder Nicholas Colas, it comes down to a breakdown in earnings trends and investor sentiment. He said the earnings picture is dramatically souring due to risks stemming from China tariff costs to accelerating wage growth.

“They filter through to fundamentals,” he said Friday on CNBC’s “Trading Nation.” “The minute the global economy started to roll over, earnings revisions began to roll over, and that’s the period were in now.”

Colas mapped out his thesis in a chart showing earnings revisions’ impact on stocks.

In the beginning of the year, estimates pointed to a strong fourth quarter, and the S&P 500 Index rallied 9.4 percent from January 1 to October 1.

However, just as the correction was getting underway in October, a change happened. Earnings revisions dipped into negative territory, and the S&P fell 5.7 percent.

During the first three quarters of 2018, “we had 20-25 percent earnings growth,” he said. The current quarter “is going to be more like 13 to 14 percent, and next year is going to be more like 5 to 6 percent even though analysts still expect 8 to 9 percent,” Colas said.

“The worry that we have is you’re going to see continued earnings revisions to the downside not just for Q4, but for 2019 as a whole,” the analyst added.

It’s an ominous sign during a season known to be strong for stocks, according to Colas. Yet, he suggests, it’s not just any year.

“That gives the market some pause about valuation and future earnings growth, and creates the volatility that we’ve seen and should continue to see,” Colas said. “We do have deteriorating fundamentals.”


Company: cnbc, Activity: cnbc, Date: 2018-12-01  Authors: stephanie landsman, source, scott eells, bloomberg, getty images, burhaan kinu, hindustan times, michael nagle, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, strong, suggests, rally, growth, stocks, earnings, claus, going, santa, quarter, revisions, colas, coming, sp, street, roll, wall, chart


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GE is a buy but with a ‘strong stomach’: Aswath Damodaran

GE is a buy but with a ‘strong stomach,’ says Wall Street’s ‘dean of valuation 1 Hour Ago | 01:40Shares of General Electric are a buy that “requires a strong stomach” as trouble continues to mount for the company, Wall Street’s “dean of valuation,” Aswath Damodaran, told CNBC on Friday. “I own the stock, but I’ve got to tell you GE Capital is an anchor dragging this stock down” by as much as $20 billion in value, the finance professor at NYU’s Stern School of Business said on “Squawk Alley.” The


GE is a buy but with a ‘strong stomach,’ says Wall Street’s ‘dean of valuation 1 Hour Ago | 01:40Shares of General Electric are a buy that “requires a strong stomach” as trouble continues to mount for the company, Wall Street’s “dean of valuation,” Aswath Damodaran, told CNBC on Friday. “I own the stock, but I’ve got to tell you GE Capital is an anchor dragging this stock down” by as much as $20 billion in value, the finance professor at NYU’s Stern School of Business said on “Squawk Alley.” The
GE is a buy but with a ‘strong stomach’: Aswath Damodaran Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: tyler clifford
Keywords: news, cnbc, companies, management, ge, capital, valuation, buy, strong, stock, streets, aswath, company, damodaran, wall, stomach


GE is a buy but with a 'strong stomach': Aswath Damodaran

GE is a buy but with a ‘strong stomach,’ says Wall Street’s ‘dean of valuation 1 Hour Ago | 01:40

Shares of General Electric are a buy that “requires a strong stomach” as trouble continues to mount for the company, Wall Street’s “dean of valuation,” Aswath Damodaran, told CNBC on Friday.

“I own the stock, but I’ve got to tell you GE Capital is an anchor dragging this stock down” by as much as $20 billion in value, the finance professor at NYU’s Stern School of Business said on “Squawk Alley.”

The industrial conglomerate, once America’s most valuable company, has been plagued by debt and management troubles and has been taking steps to sell off $25 billion worth of assets in GE Capital. It is now at risk of falling into junk-bond status if it doesn’t reduce its debt.

The company has also shaken up its management. In October, it abruptly ditched CEO John Flannery, who served in the position for only a year, and replaced him with former Danaher chief Lawrence Culp.

While GE needs to drop its financial services arm, the company has its work cut out, because GE Capital is “embedded in every one of their other businesses,” Damodaran said.

“If somebody walked up to GE and said, ‘We’ll take GE Capital off your hands for nothing,’ that’ll be a great bargain,” he said.

Damodaran said he has faith in the conglomerate’s other three businesses.

Opening at $7.66 Friday, GE was down about 6 percent in afternoon trading after Deutsche Bank cut its price target to $7 a share, citing flat revenue in the power business.

Its shares are down almost 60 percent year over year.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: tyler clifford
Keywords: news, cnbc, companies, management, ge, capital, valuation, buy, strong, stock, streets, aswath, company, damodaran, wall, stomach


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Watch Trump’s casino company IPO on the NYSE in 1995…then file for bankruptcy

In 1995, Donald Trump took his company, Trump Hotel & Casino Resorts, public on the New York Stock Exchange. The stock got off to a strong start, but success didn’t last long as the company lost money year after year. Watch the video above to see CNBC’s coverage of the IPO, the casino’s struggles, and the eventual bankruptcy less than a decade later.


In 1995, Donald Trump took his company, Trump Hotel & Casino Resorts, public on the New York Stock Exchange. The stock got off to a strong start, but success didn’t last long as the company lost money year after year. Watch the video above to see CNBC’s coverage of the IPO, the casino’s struggles, and the eventual bankruptcy less than a decade later.
Watch Trump’s casino company IPO on the NYSE in 1995…then file for bankruptcy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: jordan malter
Keywords: news, cnbc, companies, success, ipo, casino, nyse, video, trumps, took, struggles, stock, strong, yearwatch, bankruptcy, company, trump, york, watch, 1995then, file


Watch Trump's casino company IPO on the NYSE in 1995...then file for bankruptcy

In 1995, Donald Trump took his company, Trump Hotel & Casino Resorts, public on the New York Stock Exchange.

The stock got off to a strong start, but success didn’t last long as the company lost money year after year.

Watch the video above to see CNBC’s coverage of the IPO, the casino’s struggles, and the eventual bankruptcy less than a decade later.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: jordan malter
Keywords: news, cnbc, companies, success, ipo, casino, nyse, video, trumps, took, struggles, stock, strong, yearwatch, bankruptcy, company, trump, york, watch, 1995then, file


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Fed’s Kashkari says rates should not go up when job creation is strong and inflation is tame

Minneapolis Federal Reserve President Neel Kashkari told CNBC on Friday that central bankers should not be raising rates while job creation continues to be strong and inflation remains tame. Furthering his case for holding rates steady, Kashkari said “there’s still slack” in the labor market. Unless wages really go up or inflation spikes, a wait-and-see posture at the Fed makes sense, he suggested. Trump told The Washington Post Tuesday that he blames Fed policies for the stock market declines a


Minneapolis Federal Reserve President Neel Kashkari told CNBC on Friday that central bankers should not be raising rates while job creation continues to be strong and inflation remains tame. Furthering his case for holding rates steady, Kashkari said “there’s still slack” in the labor market. Unless wages really go up or inflation spikes, a wait-and-see posture at the Fed makes sense, he suggested. Trump told The Washington Post Tuesday that he blames Fed policies for the stock market declines a
Fed’s Kashkari says rates should not go up when job creation is strong and inflation is tame Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: matthew j belvedere
Keywords: news, cnbc, companies, job, powell, tame, central, rates, strong, inflation, economy, stock, fed, creation, market, feds, president, kashkari, rate


Fed's Kashkari says rates should not go up when job creation is strong and inflation is tame

Minneapolis Federal Reserve President Neel Kashkari told CNBC on Friday that central bankers should not be raising rates while job creation continues to be strong and inflation remains tame.

“For the three years since I’ve been at the Fed, we have been surprised by the labor market. We keep thinking we’re at maximum employment. And then wage growth is tepid. And the headline unemployment rate drops further. Inflation has been well under control,” he said. “If the U.S. economy is creating 200,000 a jobs a month, month-after-month, we’re not at maximum employment.”

With neither pillar of the Fed’s dual mandate from Congress — to promote maximum employment and keep inflation from getting too high — throwing off warnings signs, the Fed should pause on rate increases at this point, Kashkari said. He added that hiking too forcefully before necessary could risk causing a recession in the U.S. economy. He believes rates are “close to neutral.”

Furthering his case for holding rates steady, Kashkari said “there’s still slack” in the labor market. Unless wages really go up or inflation spikes, a wait-and-see posture at the Fed makes sense, he suggested.

Kashkari is not a voting member on the central bank’s policymaking committee this year or next year. But as a voter in 2017, he was against all three rate hikes last year, saying at the time there was no need to move because inflation wasn’t a problem.

Over the long term, he thinks the economy won’t grow much more than 2 percent. While that’s been seen as a base case for some time, he said Friday that 2 percent growth at the near zero percent rates of the past is far more difficult to maintain with rates so much higher nowadays.

Kashkari appeared on “Squawk Box” as debate raged in the investment community on whether Fed Chairman Jerome Powell’s speech this week really departed materially from the comments he made last month that led to widespread concern about the path higher next year for interest rates and an October market rout.

In Wednesday’s address to the Economic Club of New York, Powell said rates are “just below” neutral, which appeared to be a sharp turn from his Oct. 3 remarks that rates were long way from neutral, a level neither stimulative nor restrictive to the economy.

The stock market ripped higher Wednesday on the thought that Powell softened his stance and thus signaled that the Fed may not be as aggressive as feared on rates. Stocks pulled back slightly Thursday. While U.S. stock futures were lower Friday, on the last day of the month, the market stands a chance at holding on to the small gains made in volatile trading in November.

Despite the initial optimism in the market, some prominent Wall Street economists said they did not see a major difference in what Powell said this week compared to last month.

The central bank has already increased rates three times this year, with one more expected in December. The target range for the central bank’s benchmark federal funds rate, which banks charge each other for overnight lending, stands at 2 percent to 2.25 percent. After its most recent hike, in September, the Fed projected three rate increases for next year.

In recent months, Powell has been under constant pressure from President Donald Trump to halt rate hikes. Trump told The Washington Post Tuesday that he blames Fed policies for the stock market declines and General Motors’ plan to cut production at several U.S. plants.

Kashkari on CNBC Friday defended the Fed’s independence.

“Inflation expectations are so anchored because of the political independence of the Fed, because the Fed has done a good job over the last 20 or 30 years. That to me is something that is enabling this economy to continue strengthen, enabling the job market to continue to strengthen without inflation taking off. And so, let’s let it continue.”

Kashkari, who unsuccessfully ran as a Republican for governor of California in 2014, served as the administrator of TARP, the Troubled Asset Relief Program, at the Treasury Department during the financial crisis. After leaving Washington, he joined Pimco as a managing director and head of global equities. Before his time at Treasury, he was a vice president at Goldman Sachs.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: matthew j belvedere
Keywords: news, cnbc, companies, job, powell, tame, central, rates, strong, inflation, economy, stock, fed, creation, market, feds, president, kashkari, rate


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US stock futures pull back after Dow notched strong triple-digit gain on Wednesday

Wall Street saw a stellar session on Wednesday, with the Dow Jones Industrial Average closing up over 600 points following a speech by the chair of the Federal Reserve. Consequently, Powell’s comments on Wednesday caused stocks to rise both domestically and overseas. Investors will be keeping a close eye on this release, to see if there are any further clues as to where monetary policy is heading. A number of Fed officials are also slated to speak in Boston, Massachusetts on Thursday. Elsewhere,


Wall Street saw a stellar session on Wednesday, with the Dow Jones Industrial Average closing up over 600 points following a speech by the chair of the Federal Reserve. Consequently, Powell’s comments on Wednesday caused stocks to rise both domestically and overseas. Investors will be keeping a close eye on this release, to see if there are any further clues as to where monetary policy is heading. A number of Fed officials are also slated to speak in Boston, Massachusetts on Thursday. Elsewhere,
US stock futures pull back after Dow notched strong triple-digit gain on Wednesday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: fred imbert, alexandra gibbs, spencer platt, getty images
Keywords: news, cnbc, companies, rate, strong, york, stock, place, gain, powell, investors, tripledigit, close, futures, interest, neutral, comments, pull, notched, federal, dow


US stock futures pull back after Dow notched strong triple-digit gain on Wednesday

Wall Street saw a stellar session on Wednesday, with the Dow Jones Industrial Average closing up over 600 points following a speech by the chair of the Federal Reserve. On Wednesday, Jerome Powell said at an event in New York that he deems the Fed’s benchmark interest rate to be close to a neutral level; which marks a step away from comments made in recent months.

Back in October, Powell stated that the U.S. was a “long way” from hitting neutral, when it came to interest rates — which indicated to markets that more rate hikes were on the horizon. Consequently, Powell’s comments on Wednesday caused stocks to rise both domestically and overseas.

Sticking with the U.S. central bank, minutes from the last Federal Open Market Committee meeting, which took place earlier this month, are due out at 2 p.m. ET. Investors will be keeping a close eye on this release, to see if there are any further clues as to where monetary policy is heading. A number of Fed officials are also slated to speak in Boston, Massachusetts on Thursday.

Elsewhere, investors continue to look ahead to a G-20 summit in Argentina, which takes place this Friday and Saturday. Trade relations between the U.S. and China will be a key topic up for discussion, especially since both nations’ leaders will be attending the event.

CNBC’s Jeff Cox contributed to this report


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: fred imbert, alexandra gibbs, spencer platt, getty images
Keywords: news, cnbc, companies, rate, strong, york, stock, place, gain, powell, investors, tripledigit, close, futures, interest, neutral, comments, pull, notched, federal, dow


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SoFi CEO Anthony Noto: Our loans ‘have really strong risk controls’

Noto, formerly the chief operating officer of Twitter, said that when he joined SoFi — a CNBC Disruptor 50 company whose name stands for “Social Finance” — “the No. 1 priority was making sure that we focused on quality of loans over quantity of loans.” Knowing that the Fed would soon start raising interest rates in earnest, Noto knew that his millennial-facing company would have to adjust to ensure that the loans it made were secure and appropriately backed. More from CNBC Disruptor 50:SoFi CEO


Noto, formerly the chief operating officer of Twitter, said that when he joined SoFi — a CNBC Disruptor 50 company whose name stands for “Social Finance” — “the No. 1 priority was making sure that we focused on quality of loans over quantity of loans.” Knowing that the Fed would soon start raising interest rates in earnest, Noto knew that his millennial-facing company would have to adjust to ensure that the loans it made were secure and appropriately backed. More from CNBC Disruptor 50:SoFi CEO
SoFi CEO Anthony Noto: Our loans ‘have really strong risk controls’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: elizabeth gurdus, george kavallines, kim white, mike segar, david paul morris, bloomberg, getty images, michael short
Keywords: news, cnbc, companies, ceo, really, anthony, volatility, wanted, loans, controls, risk, rates, disruptor, usmoneyball, ensure, sofi, strong, company, noto


SoFi CEO Anthony Noto: Our loans 'have really strong risk controls'

Noto, formerly the chief operating officer of Twitter, said that when he joined SoFi — a CNBC Disruptor 50 company whose name stands for “Social Finance” — “the No. 1 priority was making sure that we focused on quality of loans over quantity of loans.”

Knowing that the Fed would soon start raising interest rates in earnest, Noto knew that his millennial-facing company would have to adjust to ensure that the loans it made were secure and appropriately backed.

More from CNBC Disruptor 50:

SoFi CEO Anthony Noto: Market volatility, rising rates create ‘opportunity for us’

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“We wanted to focus on per-loan economics for two reasons: one, we wanted the loans that we created to be great investments for our asset-backed security investors, but also if we keep them on our balance sheet,” he told Cramer. “So we made that pivot when I got to the company to ensure that we prepared for the longer-term rising-rate environment.”


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: elizabeth gurdus, george kavallines, kim white, mike segar, david paul morris, bloomberg, getty images, michael short
Keywords: news, cnbc, companies, ceo, really, anthony, volatility, wanted, loans, controls, risk, rates, disruptor, usmoneyball, ensure, sofi, strong, company, noto


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