Yellen tells consumers after rate hike: ‘The simple message is the economy is doing well’

  • Indebted consumers nervous about Wednesday’s interest rate hike from the Fed can take solace even as their credit card bills shoot higher, Fed Chair Janet Yellen said.
  • “The simple message is the economy is doing well,” the central bank leader said in her quarterly news conference following the Federal Open Market Committee meeting.
  • While the stock market has zoomed higher and the unemployment rate has fallen from 10 percent to 4.7 percent, inflation remains low, real wages have been flat and first-quarter economic growth is on pace to rise just 0.9 percent, according to the latest Atlanta Fed projections.
  • However, Yellen insisted the economy has reached the point where the Fed can start tightening in a deliberate manner.
  • “The unemployment rate has moved way down and many more people feel optimistic about their prospects in the labor market,” she said.

Indebted consumers nervous about Wednesday’s interest rate hike from the Fed can take solace even as their credit card bills shoot higher, Yellen said.

Continue reading “Yellen tells consumers after rate hike: ‘The simple message is the economy is doing well’”

Donald Trump 2020 campaign ready with ‘Keep America Great’ slogan

  • “‘Keep America Great,’ exclamation point.”
  • WATCH: Trump’s tweets can cost a company billions of dollars.
  • Trump’s ready for 2020 with ‘Keep America Great’ slogan
  • Trump’s ubiquitous “Make America Great Again” red baseball caps were one of the most lasting visual images of his unconventional campaign.
  • Donald Trump hasn’t even taken the oath of office for his first term, but he’s already beginning to plot his re-election.

Donald Trump hasn’t even taken the oath of office yet for this first term but already is beginning to plot his re-election.
Continue reading “Donald Trump 2020 campaign ready with ‘Keep America Great’ slogan”

Bankers must learn to behave or fintech will tear them apart, warns Barclays’ ex-boss

Bankers must learn to behave or #fintech will tear them apart

 #fintech

  • “An important part of the adaptation should be cultural, and should enable the bank to retain the confidence of its customers technology changes the form of customer engagement.”
  • B ritain’s bankers have not convinced the public that they are reformed characters – and if banks do not change their ways, fintech companies will poach their customers, Barclays’ former chairman has warned.
  • When Sir David led Barclays’ board, then-chief executive Antony Jenkins ran a campaign to improve behaviour and the bank’s culture, but acknowledged it may take a decade to restore trust to the industry.
  • “There is a tendency to look back to the culture of banks and banking several decades ago through rose-tinted spectacles,” he said.
  • T hat long time lag leaves banks open to challenges from new rivals, said Sir David, arguing that “the scale of change in prospect is massive even over the relatively short-term”.

Read the full article, click here.


@cgledhill: “Bankers must learn to behave or #fintech will tear them apart

#fintech”


Britain’s bankers have not yet convinced the public that they are reformed characters – and if banks do not change their ways, fintech companies will poach their customers, Barclays’ former chairman has warned.


Bankers must learn to behave or fintech will tear them apart, warns Barclays’ ex-boss