Many investors unknowingly make a costly mistake when rolling their money from a 401(k) plan to an individual retirement account: leaving their money in cash. Rollovers from a workplace retirement plan to an IRA are common after reaching certain milestones like changing jobs or retiring. About 5.7 million people rolled...
China’s local government debt problems are a hidden drag on economic growth
BEIJING — China's persistent consumption slowdown traces back to the country's real estate slump, and its deep ties to local government finances — and debt. The bulk of Chinese household wealth went into real estate in the last two decades, before Beijing began cracking down on developers' high reliance on...
China’s retail sales and industrial data miss expectations in August
BEIJING — China's retail sales, industrial production and urban investment in August all grew slower than expected, according to National Bureau of Statistics data released Saturday. Retail sales rose by 2.1% in August from a year ago, missing expectations of 2.5% growth among economists polled by Reuters. That was also slower than the...
Federal Reserve will opt for slow policy easing as there’s ‘still work to do’ on inflation, Fitch says
Chris Wattie | Reuters The U.S. Federal Reserve's easing cycle will be "mild" by historical standards when it starts cutting rates at its September policy meeting, ratings agency Fitch said in a note. In its global economic outlook report for September, Fitch forecast 25-basis-point cut each at the central...