Category Archives: Current Events

Identity Thieves Are Running The Same Scam This Tax Season – With A New Twist

Lauren Lyons Cole * The IRS warns taxpayers every year to beware of a long list of tax scams. * This year, identity thieves are up to the same tricks, but with a new twist. * Scammers file a fake tax return, deposit the fraudulent tax refund into your own bank account — and then call to collect. Tax scammers are a creative bunch. The IRS keeps track of the most common tax-related crimes, and… Read More »

What Correction? $6.3 Trillion Manager BlackRock Just Boosted its Outlook on US Stocks

Joe Ciolli * BlackRock raised its outlook on US stocks to overweight from neutral, citing the positive effect of fiscal stimulus on earnings growth. * The firm notes the ratio of upward profit revisions for US companies relative to downward ones is the highest since 1988. On the heels of the stock market’s first 10% correction in two years, BlackRock has turned positive on US equities. Enticed by the earnings growth that should result from… Read More »

How To Stop Worrying And Love Market Volatility

Karl Kaufman “Buy the ticket, take the ride,” wrote Hunter S. Thompson in his classic book Fear and Loathing in Las Vegas. Equity investors have been on a bumpy ride this month as volatility, lying dormant for what seems like an eternity, returned to the market in force. Wild swings in the Dow — thousand point drops followed by triple digit gains followed by drops and then gains — erased much of January’s returns and… Read More »

5 Things: What Yellen’s Fed Tenure Will Be Remembered For

When Janet Yellen leaves the Federal Reserve this weekend after four years as chair, her legacy will include having shattered a social barrier: She is the first woman to have led the world’s most powerful central bank, a position that carries enormous sway over the global economy. Yellen will be remembered, too, for her achievements in deftly guiding the Fed’s role in the U.S. economy’s slow recovery from a crushing financial crisis and recession. She… Read More »

IMF Revises Up Global Growth Forecast Helped by Trump Tax Cuts

Noah Barkin, Dmitry Zhdannikov The International Monetary Fund on Monday revised up its forecast for world economic growth in 2018 and 2019 saying that sweeping U.S. tax cuts were expected to boost investment in the world’s largest economy and help its main trading partners. In an update of its World Economic Outlook, the IMF however warned that U.S. growth would likely start weakening after 2022 as temporary spending incentives brought about by the tax cuts… Read More »