Sep 24, 2021
Investing, Economics, Taxes, Student Loans, Retirement
The debt ceiling looming over DC. (NYT-subscription may be required) (Look out for an EconExtra on this topic posting tomorrow-9/25)
The Federal Open Market Committee met this week, keeping interest rates unchanged but signaling it may slow some of its support. (Yahoo Finance)
(If you have an hour and want to watch the Powell press conference, it’s available on YouTube.)
Housing market is calming down. (Yahoo Finance)
Jobless Claims this week largely unchanged. (CNBC)
Sep 17, 2021
Current Events, Investing, Economics, Student Loans, Retirement
This long but worthwhile article from the Atlantic expertly explains just how severe the shutdown and subsequent market responses were in March of 2020.
“The function of shares as risk‑bearing capital is to act as a shock absorber in hard times. Far more worrying than equity markets was what was happening in the market for bonds, and above all, U.S. Treasuries—the safe assets that promise a counterbalance to volatile equities.”
The article gives perspective...
Sep 03, 2021
Current Events, Economics, Investing, Cryptocurrencies, Career, Retirement
A slightly longer list for your holiday weekend reading.
Today’s jobs report was disappointing. Only 235,000 jobs added in August (700k+ expected). (Yahoo Finance)
Previous months revised upward
Unemployment rate drops from 5.4% to 5.2%
Wages up, particularly for leisure and hospitality
Delta variant seems to be the cause of decline in leisure and hospitality jobs
Listen to the Indicator podcast from Planet Money as Mike Konczal, Director of Macroeconomic Analysis at...
Aug 20, 2021
Current Events, Economics, Budgeting, Investing, Student Loans, Retirement
Retail sales dropped more than expected in July. (CNBC) But there are signs that back to school shopping for 2021 has rebounded, and may help August numbers. (NRF.com)
Goldman Sachs economists have cut back their third quarter GDP projections due to the resurgence of Covid/Delta variant. (Reuters)
2020 was the year of the entrepreneur. Startups jumped 24% over the previous year according to Census data. (NYT)
Here is this week’s data-heavy suggestion. A Data Scientist from the...
Jun 18, 2021
Economics, Investing, Cryptocurrencies, Budgeting, Student Loans, Retirement
New jobless claims reversed the streak of declines this week, and continuing claims remained the same. (Yahoo Finance)
The Washington Post dug deep into BLS and other data to see which industries were experiencing a labor shortage, versus the tight labor market that is more generally the experience across the board.
(Slate) provides a more detailed and nuanced examination of the current inflation picture.
The Federal Reserve Banks’ Open Market Committee met this week and...
Jun 04, 2021
Economics, Investing, Student Loans, Retirement
Ed Yardeni, president of Yardeni Research, seems to agree with economists previously cited in reading lists and EconExtras that inflation may go up temporarily as economy starts back up, but demand and therefore prices will cool down soon. (CNBC)
This New York Times presents lots of economic indicators (graphs) to evaluate the recovery so far.
Unemployment claims dropped to under 400,000 last week. (Reuters)
May jobs report showed payroll increase of 559,000 and unemployment at 5.8%....
Mar 12, 2021
Economics, Investing, Retirement
The pandemic recession was highly unusual in that personal savings increased during it, and increased a lot! (Irrelevant Investor)
chart from the JP Morgan Guide Retirement.
Weekly initial jobless claims of 712,000 were the lowest since November. (Yahoo)
Michelle Singletary explains a) what you need to do to get your third stimulus check, and (WAPO1) b) the (tax) implication for parents of the Rescue Plan. (WAPO2)
The Washington Post also...
Mar 05, 2021
Financial Literacy, Economics, Investing, Cryptocurrencies, Retirement, Budgeting
ICYMI--Here is a link to Tim Ranzetta’s piece for The Street.
This week marked Fed Independence Day (Happy 70th!). Here is a Planet Money episode explaining what that is all about.
Speaking of the Fed, Jerome Powell’s comments yesterday about the potential for some inflation as the economy restarts sent markets moving. (CNBC)
For more on Powell’s message stressing patience, read the NYT explanation.
Initial jobless claims...
Feb 26, 2021
Twice weekly, NGPF is celebrating Black History Month by highlighting Black financial leaders and educators via dedicated posts and student activities on the NGPF blog.
With this final post of the month, we are highlighting the work of Michelle Singletary, who writes “The Color of Money,” a twice-weekly column in the Washington Post and published in dozens of other papers nationwide. She’s also the author of 3 personal finance books and appears regularly on TV and...
Jan 22, 2021
Investing, Economics, Behavioral Finance, Retirement
New unemployment claims up at 900,000 again last week. (DOL)
US Trade Deficit reaches a 14-year high. (AP News)
Existing home sales hit their highest level since 2006 in December. (Who is nervous?) (Yahoo Finance)
Get to know Janet Yellen, whose nomination to Treasury Secretary should be confirmed as early as today. (Yahoo Finance)
This Of Dollars and Data article wraps up investing in the year 2020 with ten takeaways.
Tik Tok may be the rage right now, but it is...
Oct 16, 2020
Current Events, Economics, Investing, Paying for College, Budgeting, Insurance, Retirement
Retail sales up 1.9% in September. (CNBC)
The unexpectedly big gain in spending comes after months of historically high savings as consumers retrenched due to the Covid-19 scare. The personal savings rate peaked at 33.6% in April and remained at 14.1% in August, the highest pre-pandemic rate since June 1975.
(Ed Yardeni) took a closer look at the recovery by sector of the economy in his blog post dated October 9.
First-time unemployment claims of 898,000 back on the rise this...
Sep 25, 2020
Economics, Investing, Paying for College, Career, Retirement
Unlike 2008, housing is holding up the economy during this recession. (CNN)
U.S. new home sales rise to near 14-year high last month (CNBC)
But the pandemic has driven demand up and supply down in many markets, pushing home prices out of reach of many. (CNBC2) (WSJ-subscription)
New unemployment claims last week were 870,000, still at historically high levels as states struggle with backlogs and identifying fraudulent claims. Continuing claims...
Jul 31, 2020
Economics, Investing, Stocks, Paying for College, Retirement
There was so much relevant news this week, this list runs a bit long, but it is sure to have something you will find interesting!
The Federal Reserve met this week and left interest rates unchanged (near zero). Dow jumps 150 points. (Forbes)
Far and away the biggest economic news this week was the historic annualized drop of 32.9% in the second quarter. (Note: add this example to your lesson on compounding.) Did one-third of the economy disappear in the second...
Jul 30, 2020
Investing, Stocks, Retirement, Current Events
This update is dominated by the impact Covid-19 has had on the investing this year.
Why is the stock market, after initial chaos at the beginning of the pandemic, not reflecting the downturn in the economy? What should investors consider in terms of diversifying, rebalancing, and retirement savings? And what about gold?
The NYSE president explained at the end of May that the “market” as represented by the S&P 500 or Dow Jones Industrial Index is a) forward looking...
Feb 28, 2020
Investing, Stocks, Current Events, Paying for College, Financial Literacy, Retirement
Given the huge and rapid correction in the stock market this week, we start this week’s list with the “Investing” articles:
This is the fastest market “correction” in history, and we aren’t done yet. (Yahoo Finance)
"Is The Stock Market Going to Crash?" The Irrelevant Investor takes a deep dive for those of you that like numbers and stats and graphs to address this question.
WSJ-(subscription) columnist Jason Zweig reports on survey results...