Earlier this week, Russia’s credit rating was cut to junk by Standard and Poor’s Rating Services. Investors rely on S&P, Moody’s, and Fitch Ratings when deciding whether to buy bonds and the three agencies issue roughly 95% of credit ratings globally. In a statement, S&P said “Russia’s monetary policy flexibility has become more limited and its economic growth prospects have weakened.” This may be true, but it’s important to point out that the rating agencies themselves have been struggling with their own conflicts. Erin weighs in.
Then, in a segment taped earlier in the month, Erin sits down with Tim Duy – professor of economics at the University of Oregon and blogger at Economist’s View. Due to a relatively healthy US economy, Tim tells us if he’s seeing a Fed rate hike soon and gives us his take on how what’s happening in Greece affects ECB monetary policy.
After the break, Erin is joined by David Merkel – president of Aleph Investments. David talks to us about Apple’s most profitable quarter in history and tells us if he thinks the Fed will raise its policy rate this year.
And in The Big Deal, Erin and Edward Harrison take a look at the biggest headlines from this week including Alibaba, Valero, Shell, and Phillips earnings, Greece, and Russia. Take a look!
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