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  • California governor rejects PG&E bankruptcy reorganization plan
    California Governor Gavin Newsom on Friday rejected a bankruptcy reorganization plan submitted by PG&E Corp , the state's largest investor-owned utility, saying its proposal fails to meet the requirements of a recently enacted wildfire law.
  • U.S.-China trade deal cuts tariffs for Beijing promise of big farm purchases
    The United States and China cooled their trade war on Friday, announcing a "Phase one" agreement that reduces some U.S. tariffs in exchange for what U.S. officials said would be a big jump in Chinese purchases of American farm products and other goods.
  • What's in the U.S.-China 'phase one' trade deal
    The United States and China have agreed on the terms of a "phase one" trade deal that reduces some U.S. tariffs on Chinese goods while boosting Chinese purchases of American farm, energy and manufactured goods and addressing some U.S. complaints about intellectual property practices.

The Economy and The Fed
DonEdwards web

The stock market continued its volatile ways during the second quarter, finishing with small gains for the quarter. The bond market had a strong quarter as interest rates fell in response to slowing economic growth. It is also notable that the Federal Reserve cut the Fed Funds Rate during the third quarter for the first time in more than a decade. The U.S. economy is being impacted by slowing global growth and domestic trade policy.

There has been much discussion about interest rates lately and the Fed’s policies when it comes to making rate decisions, so we thought it might be a good idea to take a closer look at the Federal Reserve and what they do. The Federal Reserve is the central bank for the United States. They are charged with providing our country a safe, flexible, and stable monetary and financial system. That’s a pretty tall task. Through various mechanisms they attempt to keep the economy growing at a targeted rate while at the same time keeping growth from becoming overheated and causing inflation.

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