The IMF is warning Europe to prepare for an economic slump. The International Monetary Fund believes their economic outlook is precarious and tells countries to have an emergency plan. Bloomberg covers the recent developments. The Fed has announced an interest rate cut with a decidedly hawkish tone. What is the outlook for future cuts? Liz Ann Sonders offers analysis on the current situation. If you’d like to become super rich, live in a modest home. That’s the advice of Sarah Stanley Fallaw, who wrote The Next Millionaire Next Door. She explains why Warren Buffet lives in a home he bought in 1958 for $31,500.
IMF Warns Europe to Make Emergency Plan for Economic Slump — Europe needs to come up with emergency plans, since monetary policy has all but exhausted its arsenal and risks spread, the fund warned. “Given elevated downside risks, contingency plans should be at the ready for implementation,” the IMF said in its Regional Economic Outlook for Europe. “A synchronized fiscal response” may be necessary, the fund said in the report, highlighting the dangers from trade protectionism, a chaotic Brexit and geopolitics. Read more…
Fed Cuts Rates as Expected … Three and Done or More to Come?–As expected, the Federal Open Market Committee (FOMC) lowered the federal funds rate by 25 basis points to a range of 1.5% to 1.75%; while hinting it may be in pause mode in the near-term. It’s uncertain whether more cuts will follow, especially after the Fed’s hawkish tone in its announcement. Read more…
Most Of The SuperRich Have Surprisingly Modest Homes — The key to building wealth is living in a home you can easily afford, according to Sarah Stanley Fallaw, a researcher who studied more than 600 millionaires. Read more…
John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller