Nationally Syndicated Host Dan Celia Says Developments
Will Have Major Impact on American Economy
PHILADELPHIA, Pa.—Financial reporters have been busy lately, with a plethora of economic news making headlines.
Nationally syndicated host and biblical stewardship authority Dan Celia has been keeping up with all the news, and filling in listeners and viewers to his daily, three-hour nationally syndicated show, “Financial Issues.”
Among the headlines is the fact that President Donald Trump has tapped Jerome Powell as the next chairman of the Federal Reserve. If confirmed, Powell would replace Janet Yellen in February. The member of the Fed’s Board of Governors is more of a centrist, Celia said, initially skeptical about quantitative easing, but he has never cast a dissenting vote.
“Powell will likely represent continuity at the Fed, with only a slightly hawkish tilt,” Celia added. “He is not an academic—one of the few without a Ph.D. in economics. We need less of an academic worldview and more of a pragmatic worldview, which Jerome Powell will bring. He does not seem to have a ‘philosophy’ about policy, so this would assume a continuation of the current approach for now. While I would rather have seen more of ‘strong dollar’ guy—Powell is ‘low interest’—I think he is a good pick.”
Just a few of these additional financial headlines, which Celia can comment on, include the following:
- CONSUMER CONFIDENCE—CNBC recently reported that consumer confidence hit its highest level since December 2000, coming in at 125.9 in October.
- OCTOBER JOBS REPORT—Employers hired at a strong rate in October, adding 261,000 jobs and reflecting a bounce back from September, when growth slowed due to hurricane impact, reported the Wall Street Journal. Meanwhile, the unemployment rate fell to a new low, at 4.1 percent, also the lowest figure since December 2000.
- HOME PRICES—To close out October, CNBC reported that home prices reached new all-time highs in August, with the U.S. National Home Price NSA Index rising 6.8 percent.
- HOLIDAY OUTLOOK—Wall Street’s strong October suggests happy holidays ahead—and beyond, Market Watch is reporting. With stocks solid last month, the outlook for the holidays, economically, is good. And a recent Gallup poll also found that consumers’ Christmas shopping plans suggest retailers could see the best holiday sales in years. Americans say they will spend about $906 on Christmas gifts, up from $785 in October 2016 and representing one of the biggest year-over-year increases.
- ECONOMIC FORECASTS—For the first time since April, the U.S. economy is outpacing expectations. But, asks WSJ, what will this mean for the stock rally? The Citigroup U.S. Economic Surprise Index, a widely used tool used to gauge how economic data matches up to expectations, has risen to its highest level since spring, with a number of better-than-expected readings on the economy–from third-quarter gross-domestic product to manufacturing activity.
- END OF THE OBAMACARE MANDATE?: The Associated Press and Fox News are reporting that Republican lawmakers are pushing to write the repeal of the Affordable Care Act individual mandate into the impending tax reform bill, which Celia says, could save many Americans hundreds if not thousands of dollars per year.
Celia leads Financial Issues Stewardship Ministries (FISM, www.financialissues.org) and focuses on important economic news and biblical investing during his daily, three-hour show, “Financial Issues,” which airs on about 640 radio stations around the country and is also seen nationwide on NRBTV, reaching 45 million households.
Read more about Celia, FISM and “Financial Issues” here. Visit the Financial Issues Stewardship Ministries web site at www.financialissues.org, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues. Download the new Financial Issues app here.
To interview Dan Celia of Financial Issues Stewardship Ministries, contact Beth Harrison, 610-584-1096, ext. 104,[email protected], or Deborah Hamilton, 610-584-1096, ext. 102.