The Federal Reserve recently released their open market committee announcements on interest rates, changing their position from what was stated in December. At that time, the Fed was not only raising rates by 0.25%, but expected to raise rates two more times in the 2019 calendar year. With recent turmoil slowing economic growth the Fed has completely removed any indication that they are raising rates going forward in this calendar year, and will cease their bond-buying program.
Again, we’re forced to ask: what were they thinking back in December? How do they set their process? Listen in for our thoughts now.
This Week’s Investor Exchange Round Table Covered:
- Westpac announced they are getting out of the personal financial advice industry, giving possibly the clearest indication of what a post Royal Commission world will look like, with the cost of financial advice is skyrocketing. (12:13)
- The RBA Assistant Governor, Michelle Bullock is urging banks to loosen the reins and make it easier for purchasers to take out home loans. Listen in for more on how this impacts developers. (20:39)
- What can be learnt from the con artist Frank Abagnale Jr.? Well, it’s that looks can be deceiving, which is something that’s come to light recently with the Royal Commission. Listen in for our insights now. (29:45)
You cannot be serious
In Santa Rosa, California, a man was forced to lower his 6 foot fence thanks to complaints to a nosey neighbour. To get back at this neighbour the man posted up nude mannequins in a garden party setting, with an invite for the neighbour to dine with him!
An AFL Legend Gary Albett SR added to his goal tally, more than 20 years after retiring!
What do we do with a drunken sailor? Go search for them! Three drunk Russan sailors were found stranded on an island off Brit coast.