Weekly Update: Happy August! The sun is out, and it is summer. And, school starts in 3 to 4 weeks…. I keep hearing the question “when is the recession starting?” I also keep hearing the statement “a recession will happen next year, or early 2020.” I ask why they feel this way. The two main answers are: We have been in the longest economic expansion ever. The yield curve
How the growing economy and rising interest rates will affect your balance sheet.
Weekly Update: Good Morning! We have three newsworthy economic releases to ponder this week: There is exciting news for the economy as the U.S. GDP grew at a rate of 4.1% for the second quarter of 2018. It is the fastest growth rate in almost four years. This reflects the jump in consumer and government spending. This should not be a surprise as we have talked extensively about deposits and
Weekly Update: Good morning! Today is the two-for day as we have two topics to discuss: The first topic is the plethora of economic data. These are a few of the titles that we saw this week: • First-time jobless claims fell to the lowest levels since 1969. • Worker shortages, rising costs hemming in U.S. economy, Fed’s Beige Book finds. • U.S. housing starts tumble in June. The economy
Weekly Update: Good morning! The world is full of naysayers. It is easy to say one cannot do something versus actually getting up off of the couch and doing it yourself. And, just as I give the advice, I will be reminded that I thought the French would never win the World Cup and Tesla would never increase production. Congratulations France on a 4-2 victory! Along the same line, Elon
The unemployment rate moved up from 3.80% to 4.00% last week as more people entered the workforce.
Weekly Update: Happy post-July 4th holiday week! The hotdog infused lethargy is still lingering. Also, the 90+ degree heat in Michigan has caused a little sunburn to develop. I hope your holiday was a success with all of the traditional events. Las Vegas was a little untraditional last night as Travis Pastrana recreated Evil Knievel’s three major jumps live on TV. He even landed the one the Evil did not.
Weekly Update: Happy July! The Declaration of Independence was signed on July 4th, 1776. The document was written on July 2nd by Thomas Jefferson. Yes, I know what you are thinking. Just 242 years ago today Thomas Jefferson and the Continental Congress created the foundation of our amazing country. Our independence along with the foundation of entrepreneurship, individualism, and creativity has made the USA the best place to live. With
Weekly Update: Happy summer! We officially had the longest day of the year last week. It is fun, and tiring, that the sun sets at 9:30 PM in Michigan. My daughter goes to bed earlier when it is dark. The economic world continues to roll forward with the economic expansion improving. Of concern is the focus on tariffs which may be based on the verbal comments or the negotiation tactics
FOMC unanimously voted to raise the overnight fed funds rate 25 basis points.
Weekly Update: Good Morning, Last week the FOMC unanimously voted to raise the overnight fed funds rate 25 basis points. Now the top yield is 2.00%. With the FOMC leaning towards two more rate hikes in September and December, we may see a fed funds rate of 2.50% this year. The FOMC has been grumbling about raising rates slowly to a “neutral” position; believed to be around a yield of
Recent unemployment numbers.
Weekly Update: Goodmorning, Good things do happen in threes. One – On Saturday, the horse Justify won the Belmont Stakes and became a Triple Crown winner. Two – There are 6.7 million job openings in the USA. There are 6.3 million people unemployed. There are more openings than unemployed. Good for USA workers. Three – The June Solstice is next week. June 20th is the longest day of the year
Interview with Charley McQueen: Credit unions kicked auto lending up a notch in 2017. In the second quarter of last year, the NCUA reported that new auto loans had risen 16.3% from the year before – a continuation of what had been a long term acceleration over the preceding several quarters. However, while the numbers may look good overall, there are a number of warning signs that this growth may