Ron Rimkus, CFA, is a content director at CFA Institute, where he focuses on economics and alternative investments. Previously, he served as CEO at the online technology company he founded, Chaos Management, Inc. Prior to founding Chaos Management, Rimkus served as director of large-cap equity products for BB&T Asset Management, where he led a team of research analysts, regional portfolio managers, client service specialists, and marketing staff. He also served as a senior vice president and lead portfolio manager of large-cap equity products at Mesirow Financial. Rimkus earned a bachelor of arts holds a BA in economics from Brown University and an MBA from the UCLA Anderson School of Management. Topical Expertise:Alternative Investments · Economics
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The People's Bank of China is offering Chinese banks money, requesting that large lenders take the lead in executing plans to lend to small businesses at lower cost, after new credit as a percentage of GDP reportedly neared a three-year low in June. Commercial banks will receive funds from PBOC's Medium-term Lending Facility. Bloomberg (tiered subscription model) (18 Jul.)
A survey by Northwestern Mutual found that 67% of Americans getting help from a financial adviser are confident about their spending today and what they should save for the future. Similar confidence among those not using advisers was 44%. PlanSponsor online (18 Jul.)
Federal Reserve Chairman Jerome Powell expressed concern over trade tensions brought about by the Trump administration's policies. "We hear many, many stories of companies that are concerned and are now beginning to make investment decisions, or not make them, because of this," he said in congressional committee hearings. Reuters (18 Jul.)
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