Timothy Sumer

One of the biggest changes of the past year has been the record number of Americans who are quitting their jobs. It’s so pronounced that it has a name. It’s called “The Great Resignation.” What The Great Resignation means for retirement planning is just one of the items on Christine Benz’ financial to-do list this year. Another major area of focus is adjusting to much higher inflation. Consumer Prices increased 7% in December versus a year ago, the fastest increase since 1982 and the third month in a row that inflation exceeded 6%. This elevated rate of inflation presents a big planning challenge. Benz, who is Morningstar's Director of Personal Finance, is joining us for the fourth year in a row to help us get in financial shape for a new year and will tackle these important changes among others. 00:00 Hello 00:48 Introduction 02:40 interview with Christine Benz 23:23 One Investment 24:52 Action Point WEALTHTRACK #1829 broadcast on January 14, 2022 #investing ...

Yankee legend Yogi Berra famously said, “It’s deja vu all over again,” one of his many memorable expressions. That’s the way I feel this week. The “deja vu all over again” is the theme of “Don’t fight the Fed.” The Federal Reserve's recent pivot from inflation promoter to inflation fighter puts that adage front and center in the current debate between the bulls and the bears. This week’s guest has been following that dictum during his 40-year investment career. He has been bullish since the Fed opened the monetary spigots in 2009. He is Ed Yardeni, a Ph.D. economist, long-time Fed watcher, and investment strategist who is widely followed by institutional investors. He is also the author of several books. The latest, In Praise of Profits! is dedicated to progressives to help them understand that “profits isn’t a four-letter word.” Another Yardeni book is Fed Watching for Fun and Profit: a Primer for Investors, which we discussed in-depth in an earlier interview. I...

The consensus for the economy is bullish. After a 6.4% annualized increase in real GDP, that's without inflation, in the first quarter, recent forecasts are for 10% GDP growth in the second quarter, 7.5% in the 3rd, and 5% in the fourth. As for inflation expectations, they are up. Again the consensus is that the combination of a rapidly rebounding economy, supply shortages, and tight labor market will lead to a sustained rise in prices. The most prominent skeptic on that front is Federal Reserve Chairman Jerome Powell and other Fed officials who believe the price increases we are seeing now are transitory. This week's guest, influential economist Dave Rosenberg is in the Powell camp on this one and believes the recent jump in inflation is temporary and that the overall bullishness on the economy and markets is wrong and will be challenged before the year ends. Dave Rosenberg is the outspoken and often contrarian Chief Economist and Strategist at his independent ec...

How times have changed. It wasn’t many months ago that the entire financial world was singing the praises of inflation. The greatest fear among Wall Streeters and other financial lights was lower prices that might actually decline more and turn into that monster known as deflation. The thought conjured up nightmarish scenes of bread lines and bank runs. Ever since the global financial crisis of 2008 and especially since the Covid pandemic, central banks and governments around the world have pulled out all stops to prevent such an occurrence. And guess what? It finally worked. After declining since the early 1980s, inflation has roared back to life, recently hitting 40-year highs. But no one is celebrating. In fact, now central banks around the world have declared war on inflation, and Federal Reserve Chairman Jerome Powell is leading the charge. The Fed has dramatically raised the federal funds rate several times this year, with more action to come. This week’s guest h...