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Here’s What You Missed 4/5/19

Daniel Chase

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If you’ve ever had the misfortune of taking a standardized test then I’m sure you’ll well aware of how awful they are. First of all, the structure of these tests is designed to confuse, trick, and otherwise fool the test taker. I can’t tell you how many questions I’ve read where they include information meant to make you slip up. Second, these tests are in no way, shape, or form a measure of one’s level of education. All these tests do is gauge if someone is a good test taker. Next, we have the cost of these tests which, depending on their “importance,” can be hundreds of dollars solely because someone decided to add more costs to one’s education. I completely disagree with the weight we place on our students in terms of performing on tests, and strongly believe we should focus on more important things when assessing their abilities.

Don’t test me, here’s what you missed in the news yesterday. 

Swipe For The Next Page 

Bumble arose as a cultural alternative to Tinder. The app was created with a women-centric framework that structured the app around a woman’s right to choose. If a male swiped right on a female, and she swiped on him, it was up to the woman to initiate the conversation. The app instantly took off and became the less-creepy dating app on the market. Tinder remained operable for hook-ups, but Bumble has been lauded as a place to find true love. 

In recognition of their upcoming eminence as a digital brand, Bumble today announced the release of Bumble Mag, a lifestyle magazine made in collaboration with Hearst Publications that has relationship-related content, dating advice, etc…Per the details of their announcement, the magazine is split into four sections, “You First,” “You + BFFs,” “You+Dating,” and “You+Bizz.” The organization of the publication is said to mimic the goals of the Company. 

“Bumble is at the forefront of inspiring women to make connections and take initiative in all aspects of their lives with its positive message of empowerment. The magazine is a perfect example of how HearstMade is changing the face of custom publishing with hyper-targeted content that reflected the brand’s ethos in the most authentic way…”

Brett Hill, Editorial Director, HearstMade

I Know Why The Caged Cohen Sings 

Michael Cohen, the disgraced former lawyer of President Donald Trump, knows that he messed up by being the President’s fixer. He orchestrated hush payments to Stormy Daniels, an adult film star, who spent romantic moments with our president, as well as committed campaign finance violations and he lied to congress. Now, Cohen is begging members of the Democratic leadership to let him go freely if he cooperates with Congress. He is asking for more time — before heading to the clink — to assist Congress in pinning down President Trump.

“We hope that this memorandum demonstrates that Mr. Cohen needs to be readily accessible and immediately available to provide ongoing assistance to Congress in order for it to fulfill its executive branch oversight responsibilities. Mr. Cohen was only recently able to access a hard drive with important documents.”

Statement from Michael Cohen’s legal team

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Fed Announces No Rate Cuts, But Sees A Cut In The Future

Joe Samuel

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fed rate cut jerome powell

For the past couple of years, the United States Federal Reserve has been in the middle of a lot of speculation. The trade war between the United States and China has created a clamor for cuts in interest rates.

But on Wednesday, the Fed held the interest rates as they were. Furthermore, the Fed officially announced that no cuts in interest rates were forthcoming in 2019. It’s interesting to note that the markets are betting heavily on a forthcoming rate cut from the Fed. Some even expect the cuts to be formalized in July.

Rate Cut Ahead?

The Fed has ruled out the possibility of any cuts this year (allegedly). But many market watchers believe that a lot depends on how the market conditions evolve over the coming months. The uncertainty regarding the trade war with China is a major problem.

Yet experts believe that if it turns into a prolonged skirmish, then the Fed might reconsider its position. The United States President Donald Trump has led been campaigning for lower rates from the Fed for some time.

After having delivered his statement on Wednesday, the Chairman of the Federal Reserve Jerome Powell seemed to imply that rate cuts could not be completely out of the question in 2019.

“Many participants now see the case for a somewhat more accommodative policy has strengthened.”

The decision by the Fed was possibly one of the most-watched events in recent times. Long-term ramifications are the main concern.

Market participants had been calling for multiple cuts. But the Fed voted to keep benchmark rates within the 2.25% and 2.5% range. It was the range that had been back in December when the Fed had controversially raised the interest rates. The voted had been passed 9-1 in favor of holding the rate.

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Trade Talks Fail, What’s Next For The Market?

Jon Phillip

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trump tariff china

The trade war between the United States and China has probably been the biggest economic and diplomatic development since the turn of the year. Although the world’s two biggest economies were locked in talks for months over a new trade deal, it all unraveled quickly.

This happened when US President Donald Trump stated that the Chinese went back on their word. He then imposed tariff hikes on Chinese goods last Friday. The tariffs were raised to an astonishing 25% on goods worth $200 billion. Although Trump might believe this might bully the Chinese into submission, many experts believe that might not be the case.

Difficulty in Completing Deal

The President had imposed these tariff hikes right before the Chinese delegation was supposed to show up at Washington. This was for which many had believed was going to be the last round of talks. However, experts now feel that the escalation of tensions between the two countries following the latest developments will make it difficult to reach a deal that could be considered a win for the US. As soon as the tariffs kicked in, Beijing announced that it was looking at countermeasures as well. However, there were no specifics on the nature of these measures.

Last year, the two nations had been embroiled in a damaging retaliatory tariff war and it could lead to a protracted trade war, if the Chinese decided to resort of the same tactics. The Chinese delegation is going to be in Washington this week to engage in another round of talks but it is believed that a binding trade deal is unlikely to be signed.

Is A Trump Win Likely?

One of the biggest reasons why the deal might not be signed anytime soon is perhaps the fact that the US President needs to be able to claim it as a win for himself. The President has staked his personal weight behind a favorable deal for the US. But with every passing day, it is looking increasingly unlikely that it is going to happen.

If that is to happen, then China’s entire way of doing business will need to change. This is starting at intellectual property theft and expands to technology transfers by force from US companies. If those things are not part of the deal, then it would not be the sort of deal that can be claimed as a win for the US. It doesn’t help that today, China came in with its own tariffs. China will raise tariffs on $60 billion in U.S. goods, the Chinese Finance Ministry said Monday.

And in true Trump fashion, the U.S. may not be done retaliating. The U.S. President has threatened to put 25% tariffs on $325 billion in Chinese goods that remain untaxed. The president has signaled he is content leaving the duties in place, arguing they will damage China more than the U.S. What are your thoughts?

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Can 102 Words Really Impact Stock Prices?

Joe Samuel

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trump tweet

In short, the answer is yes.  We’ve witnessed, first hand, this week how just a few words can drastically impact the stock market.  If you’re just tuning in, at the beginning of the first full week of May, U.S. President Donald Trump Tweeted out a 102-word post that ended up triggering a sell-off costing the global markets around $1.36 TRILLION…with a “T”!

The “Trump Tweet” expressed that he would once again increase tariffs on Chinese goods by the end of this week. What followed has been a shock to the global markets with futures pointing at dramatic declines every day this week.  Though some say that the decline are all but a speed bump, it still hasn’t helped the fact that this drop is one of the worst seen all year. People like Kerry Craig of JPMorgan Asset Management think that a trade deal can still be reached.  The expectations, however, have been readjusted to reflect a more long-term time horizon.

Eyes Turn Toward The Second Half Of The Week

Other analysts like Oanda Asia Pacific’s Jeffrey Halley feel that investors are prudently “lightening their loads.” Halley said, “My feeling is that investors are lightening their portfolios as a precaution.”

All eyes are on the second half of this week.  As we reported on May 7th, Vice Premier Liu He, China’s top trade negotiator will be heading to the US to talk trade this week.  

“Liu will be in the U.S. from May 9-10. The invite comes from both the U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.” Regardless of what “will happen,” what has happened thus far has been an emotionally charged & very fragile global market. As this story develops we will continue to follow with more updates.

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