From Our Two Cents Monthly Newsletter – March 2018
- Coming off an incredibly prosperous year of growth, the Dow Jones Industrial Index experienced the worst point plunge in a single day when the index fell 4.6 percent on February 5. Some speculators believe that the increased volatility is a result of reports that inflation in the U.S. rose faster than anticipated in January. Though the markets recovered much of the lost value over the following weeks, February marked the first time since October 2016 that the S&P 500 finished negative over the course of a calendar month.
- In his first speech as Chairman of the Federal Reserve, Jerome Powell indicated that the Fed would continue increasing interest rates throughout the year, citing strong performance of major economic indicators as backing for the hikes.
- One in five Americans have more credit card debt than savings, according to a new study by Bankrate. This information might not come as a surprise, however, as a recent report from the World Economic Forum indicates that retirement savings are dismal throughout the entire world.
- Gibson, one of the foremost music retailers in the world for the past century, is facing bankruptcy. According to reports, the company has to address hundreds of millions of dollars in debt. In a statement, Gibson declared their intention of paying back the entirety of their debt within the next seven years.
- In a new release from the UN, the gender pay gap is roughly 23 percent throughout the world. At this rate, it will take nearly 70 years for women to achieve equal pay. In addition, women do roughly 2.6 times more unpaid care and domestic work than men.
