Inflation is still rising, albeit at a slower pace, according to the latest data out last week. This will likely support further interest-rate increases from the Federal Reserve and worries of a resulting economic recession. Stocks retreated, culminating in the worst week since June. The Nasdaq suffered through its worst week since January after falling […]
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Prepare Now for Future Emergencies
September is National Preparedness Month, part of an effort by the Federal Emergency Management Agency (FEMA) to raise public awareness and inspire disaster readiness. Most communities could be impacted by some type of natural disaster, whether it’s a wildfire, hurricane, tornado, earthquake, or flood. Here are some tips to help keep your family safe in […]
Read MoreWeekly Update as of market close September 9, 2022
Are investors accepting the Federal Reserve’s hawkish path to reduce inflation? Last week’s market performance may lend credence to that possibility, as each of the benchmark indexes listed here posted solid gains, reversing three weeks of losses. A jump in tech shares pushed the Nasdaq up to its highest level since late August. The S&P […]
Read MoreWeekly Update as of market close September 2, 2022
Equities suffered losses for the third consecutive week, as investors anticipated continued aggressive moves by the Federal Reserve to combat inflation. The S&P 500 extended its longest losing streak since mid-June. The latest labor report (see below) seemed to validate the Fed’s contention that the economy is strong enough to endure more tightening. The tech-heavy […]
Read MoreNew Cancellation for Federal Student Loans and Delayed Repayment to 2023
On August 24, 2022, just a few days before federal student loan repayment was set to resume, President Biden announced a plan for additional student loan debt relief. Federal student loan repayment was originally halted in March 2020 at the start of the pandemic. The new plan extends the payment moratorium through the end of […]
Read MoreWeekly Update as of market close August 26, 2022
Despite evidence that inflation may be slowing, the central bank is committed to fighting inflation, according to last Friday’s speech from Federal Reserve Chair Jerome Powell. Wall Street may have held out hope that the Fed would scale back its aggressive bent to reel in rising prices, but that wish apparently turned to disappointment after […]
Read MoreWeekly Update as of market close August 19, 2022
The four-week rally for stocks came to an end last week. Investors turned cautious after Fed officials continued to support more interest-rate hikes. Each of the benchmark indexes listed here lost ground, with the S&P 500 declining for the first time in five weeks. Yields on 10-year Treasuries climbed 14.0 basis points. The dollar had […]
Read MoreInflation Reduction Act: What You Should Know
The Inflation Reduction Act, signed into law on August 16, 2022, includes health-care and energy-related provisions, a new corporate alternative minimum tax, and an excise tax on certain corporate stock buybacks. Additional funding is also provided to the IRS. Some significant provisions in the Act are discussed below. Medicare The legislation authorizes the Department of […]
Read MoreWeekly Update as of market close August 12, 2022
The stock market posted its fourth straight weekly advance, the longest consecutive weekly rally of 2022. Investors turned to stocks on the premise that the Federal Reserve may reduce the pace of its economic tightening campaign after three major indicators showed that inflation subsided in July. With this week’s performance, the S&P 500 has recouped […]
Read MoreIs the U.S. Economy in a Recession?
In an early July poll, 58% of Americans said they thought the U.S. economy was in a recession, up from 53% in June and 48% in May.1 Yet many economic indicators, notably employment, remain strong. The current situation is unusual, and there is little consensus among economists as to whether a recession has begun or may […]
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