Mottek On Money (August 3rd, 2019)

Saturday, August 3rd

An eventful week for the global economy. Stocks pull back from record highs and take the biggest weekly dip of 2019. Escalating trade tensions between the U.S. and China take the spotlight after the Fed cuts its benchmark interest rate for the first time since the financial crisis in 2008. The July jobs report shows unemployment holding steady at a near 50 year low. The big news of the week and what's ahead discussed with Dr. Mohamed El-Erian, Chief Economic Advisor, Allianz, former PIMCO CEO in Newport Beach, CA. Stephen Cheung, President, World Trade Center Los Angeles talks about the outlook on U.S China trade and the potential impact of increased tariffs on consumers as well as the L.A. economy. Axel Merk, President, CIO, Merk Mutual Funds discusses gold hitting a six year high and the dollar moving higher in the face of the latest news on the global economy. Beverly Hills Mayor John Mirisch talks business as the city launches it's annual summer BOLD events promoting shopping, dining, art, culture and fun.