All in Economic Update

Quarterly Market Commentary Second Quarter 2019

The Fed Signaled No More 2019 Hikes

Two days before the quarter ended, the Fed held the line on interest rates and formally suggested that no cuts were coming in 2019. The central bank suggested that one or two cuts might happen, but not until 2020. The Federal Open Market Committee voted 9-1 to keep the benchmark rate in a target range of 2.25% to 2.5% – hardly a split decision (St. Louis Fed President James Bullard voted to cut rates).

The Most Profitable Companies in the World #SaudiAramco #AAPL

*Graphic shows 2018 net income of publicly listed companies (in billion U.S. dollars)

Link to original infographic: https://www.statista.com/chart/17545/worlds-most-profitable-companies/

Apple WAS known as the world’s most profitable company. However, Saudi state oil company Saudi Aramco disclosed company reports with US$111.1 billion in earnings in 2018, far surpassing competitors. https://www.economist.com/business/2019/04/06/saudi-aramco-made-a-111bn-profit-in-2018