Cuts and Contributions
The tech-heavy Nasdaq and Bitcoin started opening gifts early, hitting record highs this week.
Fueling the climb are expectations that the Federal Reserve will cut interest rates (again) later today. It would be the third consecutive rate reduction, but that pace will likely slow in 2025; economists expect the Fed to wait and see which of President-elect Trump’s proposals get enacted (e.g., tariffs, tax cuts, deregulation) and what effect they have on the nation’s stubbornly above-2% inflation.
Meanwhile, Japanese tech-investing firm Softbank is betting big on America.
During a meeting with Trump at Mar-a-Lago, CEO Masayoshi Son announced his firm would invest $100B to create 100,000 jobs focused on AI and other tech in the U.S. over the next four years. Softbank made a similar $50B pledge at the start of Trump’s first term.
ETERNAL PERSPECTIVE
Massive wealth gains could be here today and gone tomorrow. Don’t let economic news determine your mood, win your heart’s affection, or steal your mission focus.
“No one can serve two masters, since either he will hate one and love the other, or he will be devoted to one and despise the other. You cannot serve both God and money.”
Matthew 6:24 (CSB) (read full passage)