This week has undoubtedly been a rollercoaster ride for the financial world, with a myriad of intriguing events unfolding. From Dave Ramsey’s wise advice on money management, the stock market’s challenge to interest rates, Jerome Powell’s propensity towards rate cuts, a Jim Cramer’s optimistic view of the Fed’s decision e Elon Musk’s demand for responsible public spending, the week was full of ups and downs. Let’s delve into these stories in detail.
Stop living paycheck to paycheck – Renowned financial guru Dave Ramsey took to social media to share some valuable advice. The money management expert emphasized that what you do with the money you earn is more important than the amount. He noted that many high earners continue to live paycheck to paycheck due to financial mismanagement. Read the full article here.
Stocks defy interest rate speculation – Despite the now faded hopes of a rate cut, the S&P 500 index surprisingly remained at record levels. Adam Kobeissi, author of The Kobeissi Letter, highlighted the disconnect between interest rates and stock markets, pointing out that the S&P 500 was just 10 points away from a new all-time high. Read the full article here.
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Powell’s rate cut suggestion – Fed Chair Jerome Powell suggested on Wednesday that the Fed will likely cut rates later this year. While acknowledging an uncertain outlook, Powell’s remarks were in line with previous predictions of three rate cuts expected in 2024. Read the full article here.
Cramer Market Confidence – CNBC’s Jim Cramer expressed optimism about the market following the Federal Reserve’s decision to maintain its borrowing rate. He advised investors to shift their focus from rate cuts to earnings, targeting all-time highs across the three major averages. Read the full article here.
Musk’s call for fiscal responsibility – Elon Musk responded to the representative That of Thomas Massie (R-Ky.) warning of impending economic catastrophe due to out-of-control government spending. The SpaceX CEO stressed the need for a “strong-willed” president to curb excessive spending. Read the full article here.
Read next: Former Trump lawyer’s desperate plea: John Eastman appeals to right-wing Christian groups for financial help
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