1. Trump’s big announcement: Donald Trump is expected on Thursday to announce his plans to distance himself from the Trump organization … at least somewhat. He owns or is in involved with more than 500 companies, around 150 of which have business ties in at least 25 foreign countries.
Last Wednesday, Trump promised to leave his businesses to avoid conflicts of interest while he is president. He said on Twitter he will hand over control to his children. Many ethics government experts have questioned whether handing down his businesses to his children will be enough to avoid conflicts of interests.
2. Fed expected to raise rates: Economists expect that the Fed will announce its first rate hike in a year on Wednesday.
Last December, The Federal Reserve raised its key interest rate. It was a small rate hike but affected millions of Americans including investors, homebuyers and savers.
The Fed has opted not to raise rates after four meetings this year, but a rate hike would affirm signals that the U.S. economy continues to get healthier.
Trump has criticized the Fed Chair, Janet Yellen, for keeping the interest rates low.
3. Venezuela’s new currency debut: Venezuela is introducing bigger bills on Thursday to combat its economic crisis and extreme inflation. Venezuela’s government will start printing a 20,000 bolivar note, which is worth $30 on the official exchange rate. Still, widespread lack of faith in the government and the economy means few Venezuelans pay attention to the official rate. A more popular, unofficial exchange rate has emerged, on which the 20,000 boilvar note is worth worth only $4.70.
The biggest bill right now is 100 bolivars, worth only around two cents, based on the unofficial rate. With the value of the bolivar falling rapidly, Venezuelans are exchanging their bolivars for dollars, which are seen as a more valuable and stable currency.
Next year, inflation is expected to rise 1,660% according to IMF forecasts.
4. Coming this week:
Monday – IMF head Christine Lagarde’s fraud case goes to trial
Tuesday – FOMC meeting starts
Wednesday – FOMC meeting (day two) and news conference; First rate hike in a year expected
Thursday – Bank of England rate decision; Trump’s big announcement; Super Mario Run for the iPhone releases; Venezuela’s new currency debuts
Friday – Star Wars Rogue One nationwide release