My Writings. My Thoughts.

Monday November 18, 2019

// November 18th, 2019 // Comments Off on Monday November 18, 2019 // Daily News

Trump and Jerome Powell meet on economy, but Fed says decisions will remain ‘non-political

President Donald Trump and Fed Chairman Jerome Powell met Monday to discuss various economic issues.
Trump called the meeting “good & cordial” and said the two spoke about rates and dollar strength.
Treasury Secretary Steven Mnuchin also was part of the meeting.
Presidents and Fed chairs have met regularly in the past, but few have had as publicly contentious a relationship as Trump and Powell.
President Donald Trump and Federal Reserve Chairman Jerome Powell, who have been at odds over the direction of monetary policy, met Monday to discuss a variety of economic issues, according to a statement from the central bank.
The two, along with Treasury Secretary Steven Mnuchin, discussed the economy broadly as well as growth, employment trends and inflation.
Powell’s “comments were consistent with his remarks at his congressional hearings last week,” the Fed said.
Trump confirmed the meeting on his Twitter feed, saying the meeting was “good & cordial.”
Just finished a very good & cordial meeting at the White House with Jay Powell of the Federal Reserve. Everything was discused including interest rates, negative interest, low inflation, easing, Dollar strength & its effect on manufacturing, trade with China, E.U. & others, etc.

In separate meetings with panels on Capitol Hill, Powell said he felt that monetary policy was appropriate and likely to hold steady unless there are some significant changes in the economic outlook.
In addition, he said several times that Fed policy is not influenced by political considerations. That’s a key point, considering that Trump has been vocal in his criticism of the Powell Fed, saying that interest rate increases in 2018 were not necessary and that the central bank has been too slow to ease policy this year.

The full statement from the Fed:

At the President’s invitation, Chair Powell met with the President and the Treasury Secretary Monday morning at the White House to discuss the economy, growth, employment and inflation.
Chair Powell’s comments were consistent with his remarks at his congressional hearings last week. He did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming information that bears on the outlook for the economy.
Finally, Chair Powell said that he and his colleagues on the Federal Open Market Committee will set monetary policy, as required by law, to support maximum employment and stable prices and will make those decisions based solely on careful, objective and non-political analysis.

Today’s Inspiration

NOVEMBER 18, 2019
Are You Not Worth Much More Than They?

It might do all of us good to spend some time watching birds. That’s what our Lord told us to do. If not every day, then at least every now and then we need to take the time to observe and remind ourselves how well our feathered friends are cared for. They literally do not know where their next meal is coming from, yet I have personally never seen a bird sitting on a tree branch having a nervous breakdown due to worry.

The Master’s point here is really very simple: “Are you not worth more than a bird?” Even though you may be wrestling with a poor self-image, surely you can believe that you are more valuable than a bird, and look how well your heavenly Father takes care of them.

Prayer Starter: Father, thank You for reminding me that when life is overwhelming or I’m tempted to worry, I have tremendous value in Your eyes, and You’ll never let me down. Help me to be mindful that You will always love me, provide for me, and take care of every need. In Jesus’ Name, Amen.

Monday November 4, 2019

// October 23rd, 2019 // Comments Off on Monday November 4, 2019 // Daily News

China isn’t cutting lending rates like the rest of the world

On Monday, China’s central bank set its new “loan prime rate” exactly the same for October as September.
For Dan Wang, China analyst at The Economist Intelligence Unit, the People’s Bank of China needs to balance efforts to reduce interest rates in the long term without cutting short-term rates too drastically.
Analysts also noted how the central bank’s neutral position may be an effort to address worries of rising inflation caused by soaring pork prices.
BEIJING — The People’s Bank of China is choosing not to follow many other major central banks in cutting interest rates as it tries to navigate a challenging economic environment.
China’s central bank must manage an economy structured in many ways quite differently from that of other major regions, such as Japan or the European Union. But the PBoC faces the same question of how effective monetary policy can be today. That has significant implications for the central bank’s signalling, which appeared to take a neutral stance on Monday.
“The central bank would not like citizens’ to develop expectations for higher inflation, and so will not likely quickly lower policy rates,‘’ Xu Chenxi, senior analyst of fixed income at Nanhua Futures, said in a Chinese language statement translated by CNBC. “The policy is more concerned with its transmission to the real economy. If the real economy can obtain financing more easily than before, or financing rates decline, then monetary policy is not eager to release an interest rate cut signal.”
‘Really bad idea’ for negative rates to be permanent: Jamie Dimon
On Monday, China’s central bank set its new “loan prime rate” exactly the same for October as September: 4.2% for the one-year rate and 4.85% for the five-year. The rate, known as LPR and set monthly, was announced in August as a way to increase the role of market forces in setting interest rates, while lowering financing costs.

Today’s Inspiration

OCTOBER 23, 2019
A Wondering Mind

Adapted from the resource Battlefield of the Mind Devotional – by Joyce Meyer
When you say the words, “I wonder,” they sound innocent and honest. They also represent the way we avoid certainty in making decisions.

Suppose you’re the CEO of a business. Every day 20 people come to your office and ask you to make decisions. Yours is the final answer on everything that goes on in the corporation. Instead of giving decisive answers, you rub your chin, stare out the window, and say, “I wonder. I wonder what we should do about that?”

An indecisive CEO wouldn’t stay in that position very long. The position is much too important to the overall success and well-being of the organization and all who are associated with it. You are not in that position to wonder—you’re there to act.

Too many of us forget that this is the way it is with the Christian life, as well. Too often, instead of choosing what we need to do, we avoid facing the situation and say, “I wonder.”

I know because I’ve done it. In times past, when I’ve been invited to a party or to be the featured speaker at a banquet, I’ve said, “I wonder what I should wear.” It’s easy for me to waste a lot of time looking through my closet, considering the color and style, as I try to choose just the right outfit for a particular occasion.

This may seem like such a small thing—and it really is. The problem, however, is that if we allow enough of these “wonderings” in our lives, we not only fail to accomplish the things we need to do, but wondering becomes the normal way our minds function. Being indecisive keeps us from moving forward and can eventually defeat us.

In the verses quoted earlier, the incident started with a fig tree that wasn’t bearing fruit. The disciples could have wasted time wondering about the particulars of why the tree didn’t bear fruit. They could have wondered if it hadn’t received enough sunlight or water. They might have wondered why the owner hadn’t cut it down since it wasn’t productive. But wasting time wondering really wasn’t necessary.

When Jesus spoke and doomed the tree, He put a stop to any mental speculation. He used the incident as an object lesson for the disciples, encouraging them to believe. He wanted them to understand that if they truly believed, they could have whatever they asked of Him.

Sometimes God’s people are reluctant to ask boldly for big things. But Jesus has given us permission to step out in faith and ask boldly. And yet some still waste time just wondering. They wonder what it would be like if God would give them a better job. They wonder what it would be like if God would give them a larger house.

I can tell you that wondering is a waste of time. So, stop wondering and start acting! That’s one of the most important things I’ve learned about the wondering mind. Rather than wondering what I should wear to a banquet, I look at my clothes and I decide. God gave me the ability to make wise choices, so I can just do it instead of wasting my time wondering.

Wondering and indecision can become strongholds in our minds that can leave us feeling confused, insecure, and ineffective. But that’s not God’s plan. He wants us to overcome the wondering thoughts by believing and then receiving the answer to our prayers from God, by faith.

Notice that Jesus did not say, “Whatever things you wonder when you pray, you will have.” Instead, He said, Whatever you ask for in prayer, believe (trust and be confident) that it is granted to you, and you will [get it].

Prayer Starter: Lord Jesus, help me to overcome any wondering tendencies that keep me from moving forward in Your good plan. In Your name, I ask You to help me reach out in faith, boldly asking for what I need. Then help me to believe it and receive it. Amen.