We find ourselves in a very different position than eight years ago when President Obama was about to take office. In January of 2009, the world was in the depths of the worst financial crisis since the Great Depression. Financial institutions across the globe were on the brink of collapse.
U.S. employment increased less than expected in December but a rebound in wages pointed to sustained labor market momentum that sets up the economy for stronger growth and further interest rate increases from the Federal Reserve this year.
Pacific Rim leaders vowed on Sunday to fight protectionism and Chinese officials said more countries are looking to join a China-led trading bloc after Donald Trump's election victory raised fears the United States would scrap free trade deals.
America must work with all nations to build stronger economies, recognizing the inequalities that globalization can generate but refusing to give in to protectionism, U.S. President Barack Obama wrote in the Economist on Thursday.
Rhode Island's state pension fund may soon pull its money out of Luxor Capital Partners. Cliffwater told the Employees' Retirement System of Rhode Island (ERSRI) to pull $35 million out of Luxor as the hedge fund continues to mount losses. Cliffwater’s Thomas Lynch says that Luxor isn’t as good of a stock picker as advertised.