In money news that affects your hip pocket.
A new online game has emerged that allows anyone who thinks they can manage the economy better to give it a go.
It’s called “Chair the Fed,” and according to news.com.au allows you to try your hand on the interest rate lever and tests how effective you would be managing unemployment and inflation.
The game was reportedly designed as a tool for economics and other students by the US Federal Reserve’s San Francisco branch and can be played here.
Meanwhile, economists will be paying close attention to the Fed this week which is set to meet on interest rates.
AMP Capital chief economists Shane Oliver believes rates will remain on hold with the US economy still not strong enough to warrant a move higher.
But he adds that this could put upward pressure on the Australian dollar.
“There is a high risk that the Australian dollar ($A) will re-test its April high of $US0.78 if the Fed continues to delay, presenting challenges for the Reserve Bank of Australia (RBA).
“Beyond the short term though we see the longer term downtrend in the $A ultimately resuming as the interest rate differential in favour of Australia narrows as the RBA continues cutting and the Fed eventually resumes hiking, commodity prices remain low and the $A sees its usual undershoot of fair value,” he said in a note to investors.
Apartments that are winners and losers – how to pick them?
There’s been plenty of headlines in recent months about the oversupply of apartments being built in popular areas of Sydney Melbourne, so it makes sense that experts are looking at what properties are likely to be most at risk if and when the market turns.
According to news.com.au, the advice is to buy properties that are in smaller blocks and have period features such as art deco.
Avoid apartment complexes that are 20 or 30 storeys tall because they are very common and hard to sell.