Stocks to crawl higher in 2019, about right for a slowing economy, RBC predicts

Investors should expect U.S. stocks to inch higher next year as economic growth moderates and the effects of the Trump tax cuts dwindle, according to RBC Capital Markets.
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Goldman Sachs believes the US economy will slow to a crawl next year

Goldman sees economic growth slowing to below 2 percent in the second half of 2019 as the Fed continues to raise rates and the effects of the tax cut wear off.
Economy

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Your Guide to Winning the Economy Debate at Thanksgiving Dinner

Family dinner debates are like candied yams: Nobody really enjoys them, but they’re inevitable at Thanksgiving.

So if this year’s holiday discussion turns to the U.S. economy, we’ve got you covered. Whether your relatives want to talk about the job market as casual observers or parse Federal Reserve actions like super-nerds, we’ve prepared rebuttals for some of 2018’s most common platitudes.

Home EconomicsYour relative says: I’ve read about the strong economy, but prices seem to climb relentlessly, while paychecks can’t keep up. You should’ve seen how much I paid for this turkey.

Your response: Let’s talk wages. They’re heading modestly higher at long last, and they’re moving up faster than inflation right now. In fact, price-adjusted median household incomes have finally surpassed 1999 levels over the past two years after taking a major recession-era hit, based on a Census measure. Such gains may have been a long time coming, but they’re reaching the collective pysche: Consumers report feeling confident about their household financial futures across income levels, New York Fed survey data shows.

While it’s true that prices are increasing at around 2 percent a year right now, economic policy makers aim for that kind of modest inflation. And as for tonight’s dinner, it’s gotten a little bit cheaper over the past year. Turkey deflation–it’s a thing.

One relative says: President Donald Trump has shifted America’s economy into high gear.

Another says: What are you talking about? His policies are irresponsible.

Your response: Simmer down, you two. Growth has indeed moved higher, helped by tax cuts and higher spending caps. There are nascent signs of more capital investment–one of the main goals of the Trump tax cuts. But business spending cooled recently, and the fiscal sugar high is expected to start wearing off in 2019. So it’s unclear whether Trump’s policies will have lasting benefits. One thing is clear as annual budget deficits approach $ 1 trillion: They’re already leaving the country more indebted.

Armchair ExpertYour relative says: The Federal Reserve is getting a little aggressive with these rate hikes.

Your response: Have you seen the unemployment rate lately? It’s at its lowest level since Woodstock, and such a minuscule jobless rate is encouraging employers to raise wages. That’s a good thing, but the Fed wants to make sure that the economy doesn’t overheat, stoking excesses and rapid price gains down the road. Fed rate increases start to bite after a year or more, so policy makers are taking their foot off the gas now, so that they won’t have to slam on the brakes if inflation takes off.

Your relative says: The Fed threw around a bunch of free money and should’ve lifted rates sooner.

Your response: Show me the inflation. It undershot the Fed’s 2 percent goal for years, and even now, it’s only coming in right around that level on a core basis. Inflation expectations also remain a little on the low side. If the Fed had lifted rates aggressively and early, it might’ve made it harder for it to nudge prices up. Higher prices may sound bad, but if gains are too slow, the country risks deflation and it’s harder for employers to raise wages.

Your relative says: The booming stock market proves the U.S. is on the right track.

Your response: Equities did see a nice Trump bump, but stocks aren’t necessarily a great indicator of long-term economic activity. The bond market might offer better evidence of sustainably faster growth. And it’s not too optimistic. The fixed-income market’s relatively flat yield curve suggests an expectation that today’s solid economy isn’t on the cusp of an extended boom.

Deep NerdYour relative says: The federal funds rate is going to rise above the upper limit on its target range, if the Fed’s Jay Powell isn’t careful.

Your response: He’s a man with a plan. Many economists expect the Fed to make another technical adjustment when officials meet in December to keep the funds rate trading within its target range. It does open a question, though: Is reserve scarcity driving the change, and if so, does that mean balance sheet runoff will have to stop earlier than planned? Fed officials don’t think so, but it’s a story to watch in 2019.

Your relative says: Quantitative easing didn’t work.

Your response: OK, gloves off. The central banking community remains divided on the efficacy of America’s three bond-buying programs after the financial crisis. While “QE did work, and here’s the proof” studies have become a genre of economic research unto itself, at the end of the day, it’s hard to prove a counterfactual. What we do know is that the economy recovered, that interest rates were weighted down and that the Fed plans to keep bond-buying in its toolkit for the next recession.

Fortune

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WATCH: World News 11/05/18: Trump Talks Up Jobs, Economy At Urging Of GOP Leaders

Abrams makes last pitch to become first black female governor in the US; Tallahassee mayor hopes to become Florida’s first black governor
ABC News: World News Tonight

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Goldman Sachs: The economy needs to slow down to avoid a ‘dangerous overheating’

A thriving labor market is part of a continuing economic boom that will have to slow down or it eventually will cause trouble, according to a Goldman Sachs analysis.
Economy

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Trump touts economy, Georgia sees racist calls as U.S. vote nears

President Donald Trump touted U.S. economic growth and painted a grim picture on immigration in rallies with Republican candidates before Tuesday’s elections as Democratic former Vice President Joe Biden urged voters to reject division.


Reuters: Politics

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WATCH: World News 11/02/18: Trump: America ‘Now Has The Best Economy’ In US History

Driver arrested after shuttle-bus trip goes frighteningly awry; Video shows inside of bus in China before it fell off bridge
ABC News: World News Tonight

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http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

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Trump: America ‘now has the best economy’ in US history

ABC News

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http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

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Obama warns against fear, Trump touts economy on campaign trail

Former U.S. President Barack Obama warned on Friday against rhetoric he said was designed to sow fear as he campaigned in support of Democratic candidates while President Donald Trump hammered a hardline anti-immigration message to energize Republicans.


Reuters: Arts

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US Is World’s Most Competitive Economy: World Economic Forum

In its annual Global Competitiveness Report, the World Economic Forum has named the United States as the most competitive economy in the world.

Under the new framework for competitiveness, the U.S. economy is the closest to the “competitiveness frontier”, followed by Singapore, Germany, Switzerland, and Japan, says the closely-watched Report, which was published on Wednesday.

The U.S. is ranked
RTT – Top Story

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Another great sign for the economy: Job openings hit an all-time high in August

Job openings hit a record in August, indicating companies could face more inflationary pressures ahead with a tight labor market. 
Economy

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Why has Trump’s economy left senior citizens behind?

Dear John: If the economy is booming, why is nothing being done for seniors? This group, solidly behind the president, is still suffering from shrinking Social Security benefits and rising food prices. S.W. Dear S.W. You might be happy to know that Social Security’s Cost of Living Adjustment, announced on Thursday, will be 2.8 percent,…
Business | New York Post

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The Fed’s interest rates push could slow down the economy

When will rising interest rates be a real problem for the stock market? Nobody has the answer to that question, although a lot of people are venturing guesses now that rates are climbing steadily. The problem with those guesses is that a complex combination of factors is at work. The stock market suffered sizeable declines…
Business | New York Post

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Circular Economy Hot Topic at Paris Fabric Fairs

PARIS — A Balenciaga garment made from the recycled fibers of a Max Mara camel coat. That’s the reality for a growing number of brands embracing the circular economy, a hot topic at recent Première Vision Paris and Texworld shows here.
“You see mills that are starting to weave fabrics with fibers recycled from plastic bottles, discarded clothes, discarded polyesters. Materials are freshly rewoven with these fibers and they look really luxurious, they look perfect,” said Olivier Theyskens, jury president of the 10th anniversary of the PV Awards.
Held Sept. 19 to Sept. 21 at the Parc des Expositions in Paris Nord Villepinte, the show for the first time exceeded the 2,000 exhibitor mark, with 190 new companies. The edition also saw the launch of the Marketplace Première Vision via a physical space, allowing visitors to experiment and test out the platform.
One of the main challenges for recycled fibers, explained Francois Souchet, director of Make Fashion Circular at the Ellen MacArthur Foundation, is the loss of quality and lack of real technologies available at scale.
“When we talk to luxury brands, one of the main concerns is, ‘Is this fabric very durable? Can it compete with the level of quality that we want to

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