By CCN Markets: Investors are getting a bit of a reprieve today as the stock market recaptures some of yesterday's massive losses in what was a brutal day on Wall Street. The trade deal appears to be the impetus for the market, and the tug-of-war between President Trump and President Jinping seems far from over, based on the looks of things. Don't let the stock market volatility fool you, however...
When US nonfarm payrolls stunned traders by rising dramatically on Friday, the stock market's bet that the Fed would stimulate further growth by drastically slashing interest rates was exposed as a fool's gamble. That's according to economist Mohamed El-Erian, who explained to CNBC's "The Exchange" that a rate cut in July was likely but 50 basis points was probably out of the question: "I think...
By CCN: President Trump has at least one renowned economist in his corner. Mohamed El-Erian is placing Donald Trump in the same category as America's beloved Ronald Reagan. In an interview with CNBC, El-Erian, who is among the more open-minded economists out there, approached the trade war from a different vantage point. He said that China stands to lose the most in the trade war ignited by...
The Fed just can't seem to strike the right chord in the current economy. Economist Mohamed El-Erian, who was reportedly considered for a Federal Reserve spot, has a bone to pick with central bankers. In just three short months, the Fed has done an about-face on the strength of the economy, giving investors around the world whiplash. Allianz's chief economic advisor believes that the pendulum has...
The Federal Reserve won't raise interest rates in 2019 and will probably cut them in 2020 ― after raising them a stunning four times in 2018. That what Mohamed El-Erian, the chief economic adviser at German mega-bank Allianz, predicts. "I suspect they will do nothing this year, and next year will likely loosen," El-Erian told CNBC on February 5. Jerome Powell Projected Two Rate Hikes In 2019 This...
When Satoshi Nakamoto created bitcoin, a message in the cryptocurrency’s Genesis block made clear that it was a direct response to banking industry mismanagement and the financial and political structures that continued to enable it. Just one decade later, US President Donald Trump might tap a cautious crypto optimist to lead the World Bank. Trump Considering El-Erian for World Bank President ...
Mohamed El-Erian — the chief economic adviser at Allianz SE — says concerns over a US recession are overblown, but we can expect wild fluctuations on the Dow Jones Industrial Average in 2019 because of financial uncertainty in Europe and China. However, El-Erian said the US economy will remain strong and will continue to grow at a robust rate of 2.5% to 3%, while wages will continue to rise 3% or...
Despite this year’s prolonged cryptocurrency market decline, many mainstream financial institutions and wealth managers have continued to explore how to make this nascent asset class more accessible to their clients. Firms such as Goldman Sachs and Fidelity are building crypto custody products, while exchange giants Intercontinental Exchange (ICE) and Nasdaq are focusing on futures trading. Don’t...