October 4, 2015
Clarksville, TN – The economic data were mixed, but consistent with the theme of global softness and domestic strength. Unit auto sales improved further in September – and, combined with the August data on personal income and spending, suggest that inflation-adjusted consumer spending (70% of GDP) is on track to have expanded at an annual pace of 3.5% to 4.0% in 3Q15.
The trade deficit in goods widened sharply in August, with that split evenly between stronger imports (despite lower oil prices) and weaker exports. Net exports and an inventory correction are expected to subtract significantly from 3Q15 GDP growth, but underlying domestic demand appears to have remained strong.
September 27, 2015
Clarksville, TN – In Janet Yellen’s first public speech after the recent FOMC meeting, the Fed chair downplayed concerns about the rest of the world and placed herself among the majority of Fed officials expecting to raise short-term interest rates by the end of the year. In a scary moment for investors, Yellen struggled to finish her speech.
She repeatedly lost her place, paused for long periods, and looked generally unwell. She received medical treatment. A Fed spokesperson said that she was dehydrated and that she felt fine later. While stock market participants have been worried about Fed tightening, they seemed to have been more encouraged by Yellen’s expressed confidence in the U.S. economy.
September 20, 2015
Clarksville, TN – The Federal Open Market Committee delayed the start of policy normalization, citing concerns about global economic and financial developments.
The FOMC is not reacting to overseas developments per se, but rather to the implications for the U.S. economy (some restraint on growth, further downward pressure on inflation). In the revised dot plot, there was little agreement about where the federal funds rate would be at the end of 2016 and 2017.
September 15, 2015
Clarksville, TN – The economic calendar was thin, leaving investors free to worry about slower global growth and Federal Reserve policy. The stock market was volatile, but not as much as in recent weeks.
The Bank of Canada and the Bank of England each left short-term interest rates unchanged. The BOC lowered rates in January and July, but showed no bias to cut rates further in the next few months. The BOE has been debating whether to start raising rates, but appears to have put such notions aside in the near term, reflecting concerns about the global economy.
September 6, 2015
Clarksville, TN – The economic data were mixed, but generally consistent with moderately strong growth. Unit auto sales improved in August. The ISM Manufacturing Index slowed. The Non-Manufacturing Index pulled back a bit after surging in July (still strong). The Fed’s Beige Book described growth as evenly split between “modest” and “moderate” across the 12 Fed districts.
The August employment report was mixed, but generally strong. Nonfarm payrolls rose by 173,000 (median forecast: +220,000), but with a net revision of +44,000 to June and July.
August 30, 2015
Clarksville, TN – A sharp drop in China’s stock market rattled investors’ nerves around the world. The Dow Jones Industrial Average fell by more than 1,000 points at the open on Monday, regrouped, and then fell again, leaving the benchmark index down 588.
Volatility continued throughout the week, but investors were encouraged by China’s efforts to shore up its stock market and support economic growth. Oil prices fell further, but picked up by the end of the week. The market volatility has left investors struggling to figure out where share prices should be. Volatility is expected to decrease in coming days, but may continue for a while.
August 27, 2015
Clarksville, TN – To kick off this season’s Visiting Artist Lecture Series, theDepartment of Art and Design is bringing in renowned artist Linda Lopez.
Lopez will be discussing her work as a sculptural ceramicist at 7:00pm, Thursday, September 3rd, in the Trahern Building.
August 26, 2015
Clarksville, TN – www.NurseJournal.org’s School of Nursing is one of the top nursing programs in the eastern United States, according to a recent survey by the website
APSU was ranked No. 32 in the journal’s inaugural list, beating out prestigious nursing programs at places such as Yale University, Johns Hopkins University, the University of Pennsylvania and the University of North Carolina.
August 16, 2015
Clarksville, TN – “I know I have a long ways to go and a lot to learn, but the help is definitely here.”
When the United States and its allies need help, our soldiers answer the call. But when those same men and women need a hand, programs like the Montgomery County Veterans Treatment Court (VTC) exist to make sure they are not alone.
Established in 2012, the court aims to help veterans who come to the criminal justice system as a result of drug addictions, homelessness and other situations brought on by wartime stress.
August 16, 2015
Clarksville, TN – China’s leadership wants the yuan to become an important reserve currency, but that means that the country would have to let the currency float freely and be set by market forces. The People’s Bank of China, the country’s central bank, decided to alter its exchange rate regime.
The currency is allowed to trade in a 2% band around a level announced before the markets open. The PBOC said that this base level would simply be set at the previous session’s close (rather than taken out of the air).