MoneyWise Live


Economic Update with Jerry Bowyer

February 13, 2019

The market’s up, the market’s down, the economy goes round and round … so much news … it’s hard to say … where we’ll be at end of day. Looks like we should make a call..to find someone who can make sense of it all.  And we have found just the guy!  He’s our resident economist Jerry Bowyer — he’s the chief economist at Vidant Financial … and a frequent contributor on the Fox Business Channel. Our host Rob West sits down with Jerry for a lively discussion on all things economic and they can affect us. 

Then Rob discusses these topics with Jerry:

  • The markets first. Not today’s closing— but over the last couple of months. Were you surprised by the volatility?
  • The latest GDP estimate for the 4th quarter of 2018 is 2.7% but that’s likely to be revised upward in the weeks to come. A lot of experts have gone from, “We’ll never see healthy GDP levels again,” to “We can’t sustain this growth indefinitely.” Overall— the GDP’s a very healthy sign for the economy?
  • Unemployment numbers have been strong, too. In January the economy created 304,000 jobs. Your thoughts?
  • The White House continues to work on renegotiating trade deals— always with the threat— and in many cases— following through with tariffs. At this point— would you say that strategy is working?
  • What advice do you have for the average person based on what you know about the economy? 

Next, Rob and Steve answer these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:

  • If you're 62 and retiring soon, have about $650,000 in a 401(k) that you recently put into a safe fund and it's not growing, what should you do now?
  • If you rebuilt your house 15 years ago but it now needs about $60,000-$75,000 of renovations, should you use a 3.9% loan, a line of credit or use funds from your 401(k) retirement fund?
  • What are the age requirements for drawing on a 401(k) without penalty?
  • If you're in fairly deep debt and want to avoid bankruptcy but see few ways out, what are your first steps to honor your debt?
  • If you're about to get married and want to get into a house, should you try to buy without having a 10% downpayment?
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