Hi, everyone. Today we look at what a Fed rate cut might mean for the current economic outlook. U.S.-China trade talks resume in Shanghai, bringing new speculation about trade outcome. Pfizer is combining its off-patient drugs with Mylan. We look at a survey that shows some troubling statistics regarding baby boomers and their retirement planning. And American parents are increasingly expecting their kids to help pay for college as tuition costs continue to rise.
U.S. central bankers are expected to lower borrowing costs this week for the first time since the depths of the financial crisis more than a decade ago. That’s the easy part.
Trade representatives from the U.S. and China will begin their first official in-person meeting since the G-20 truce, but neither side is showing any sense of urgency for a trade deal.
The new company will be led by Pfizer’s Michael Goettler, currently president of the Upjohn business. Mylan Chairman Robert Coury will be executive chairman, and Mylan CEO Heather Bresch will depart.
“Boomer Expectations for Retirement,” a new annual study from the Insured Retirement Institute — a trade body for the annuity industry — makes shocking reading. Most boomers are unprepared for retirement, even as they approach it or enter it. Amazingly, barely one in 10 has enough saved up.
A survey of U.S. parents with college-bound students by Discover Student Loans found 38% expect their child to pay for most of higher education, a 7% increase from 2018. Just 28% are willing and able to cover the entire cost of college, a 6% slide from last year.