Roger Altman, founder of Evercore Partners Inc., has emerged as a leading candidate to replace
Lawrence Summers as director of Obama's National
Economic Council.
A
group including former Republican government officials and economists
urged Federal Reserve Chairman Ben S...
No financial advisor wants to help a client cash out
savings before retirement just to meet expenses, but more have had to
do it lately.
Gary Shilling,
who predicted the U.S. housing collapse, says the stock market is
overvalued and foresees a "significant" selloff within a year.
A presidential commission's leaders proposed a $3.8 trillion deficit-cutting plan that would trim Social Security and Medicare, and reduce tax rates.
The first problem that financial advisors need to address with clients
approaching retirement isn't risk tolerance; it's finding investments
that can match their liabilities, or living expenses.
More U.S. executives than ever are increasing earnings forecasts
compared with those lowering them, helped by almost $2 trillion of
Federal Reserve spending and a recovering global economy.
U.S. households
cut their debt last quarter, borrowing less against homes and closing
credit card accounts, according to a survey by the Federal Reserve Bank
of New York.
The Federal Reserve's plan to
buy an extra $600 billion in Treasury securities over the next eight
months is influencing wealth managers' recommendations for their
clients' portfolios.
by Nick Murray
Everyone can buy equities. No one can keep them. What is the advisor to do?
The Obama administration cut taxes for the Middle Class, expects
to make a profit on Wall Street bank rescue and has overseen a growing economy. Most voters don't believe it.
Americans say they're more financially secure today than a year ago,
after a stock market recovery increased confidence that the
worst of the recession is over, according to Bank of America.
by
Jeff Schlegel
Greg Valliere, chief political strategist at Potomac Research Group,
dished out his best prognostication on the
upcoming elections, tax cuts and the
markets at the Schwab Impact...
Bill Gross said a renewal of asset purchases by the
Federal Reserve will likely signify the end of the 30-year bull market
in bonds.
U.S. Treasury Secretary Henry Paulson, a keynote speaker at Schwab's Impact conference, said the financial overhaul passed earlier this year should provide long-term economic growth.
What was so normal about the old normal? Buying a house with no
financial documentation? A negative savings rate? Three billion credit-card solicitations in one
year? That was what Mellody...
The Treasury sold $10 billion of five-year TIPS at a negative yield for the first time as investors bet the Federal Reserve will be successful in sparking
inflation.
Shrinking revenue at U.S. banks, led by Goldman Sachs and
Citigroup, may continue to fall as the industry heads into what
could be its slowest period of growth since the Great Depression.
Final details of the distribution of billions of dollars of assets as
part of Barclays Plc's purchase of Lehman Brothers Holdings Inc.'s
brokerage unit were never approved, the judge said.
