Lucinda’s Financial Corner

By: Lucinda Mavuso

Hello, and welcome to Lucinda’s Financial Corner! Lucinda Mavuso is an international student who is currently in her final semester of pursuing her AA in Business/Economics. She is obsessed with the stock market and is always looking for

opportunities to learn and grow in the financial field.

Lucinda Mavuso (Photo Credit: Lucinda Mavuso)

Fed Cut Rates: The Federal Reserve has cut interest rates by half a percentage point. Big ups to J. Powell, after all inflation is not transitory which is currently sitting at 2% according to the Fed chair announcement (September, 2024). This rate cut moved markets but as a student you could be wondering what this means to you, trying to hustle and bustle into the ever changing economic conditions.

To put it simply, lower interest rates mean that you can expect to see low levels of unemployment and not to worry about your fate after graduation. Unfortunately, federal student loans are not affected by the rate cut because of their fixed interest rates. However, this is a good move by the government, hopefully we will see more rate cuts in the future.

Investing Advice: Moises Aguirre, a first year student at Wilbur Wright college pursuing a software development associate degree is a strikingly noticeable guy. The El Savadorian native shared insights on his investments.

Q: Moises, before diving deeper, are you bullish on cryptocurrency?

A: I do believe it’s a long-term investment, so yes I am bullish Bitcoin.

Q: I’d like to hear more on that.

A: One can definitely make more money now trading Bitcoin. There is actually something interesting, there is an index that tracks Bitcoin which makes it more accessible to buy as opposed to trading on Bitcoin platforms like Coinbase.

Q: I know you hail from El Salvador, tell me about how crypto found its way to the masses there? I heard some really interesting moves by the current government.

A: Yes, the government of El Salvador established an app and gave every citizen $30 cryptocurrency in their wallets, called Chivo Wallet.

Q: That is so cool. What made the government do that?

A: The president, Nayib Bukele, was trying to bring something new to the country. Bitcoin as a legal tender will bring innovation and foreign investments.

Moises Aguirre studies in the LRC. (Photo Credit: Lucinda Mavuso)

Lucinda’s Finance Reads and Shows. If you are not watching Industry on HBO Max, what are you doing with your life? “ I am a man, and I am relentless.” I have never heard anything more motivating than these powerful words. This show became a thousand percent interesting to watch and honestly you do not have to be a financial guru to enjoy it.

With many finance books and the vast number of The New York Times Best Seller list, I am betting with my last coin that the Psychology of Money by Morgan Housel is one of the best books ever written, and has changed my life. It is written for every finance level and has digestible, practical investing advice. You might want to check

it out.

Trump Media: The stock price is rallying leading into the election day on November 5, 2024. Investors are betting the stock market will go up and the price of his company will increase if Trump is elected as President. We are all just waiting bated breath to see who wins.

McDonald’s E-coli outbreak: Yahoo finance reports that McDonald’s reported its Q3 earnings, with revenue of $6.8 billion on Tuesday amid the E-coli investigations

(finance.yahoo.com). With a McDonald’s right across the street, it’s hard to ignore the effects of the outbreak and we hope students will be aware.

Illustration by Tito