A 2023 Tax Break For Small Business Owners
With a recession more likely following the banking crisis in March, small business owners and those starting new businesses receive some relief from this new tax break that became effective in 2023.
Retirement Planning Basics, And Tips For 2023
Retirement Planning Basics, And Tips For 2023
Investments in Individual Retirement Accounts (IRAs) and other retirement accounts qualified under Federal law for tax advantages are the main source of funding retirement in America. The retirement financial system that the United States has built over many decades is a partnership between the U.S. government and private sector and it is unique to our free-enterprise capitalist system. Far from perfect, it’s complex but offers opportunities to build wealth and support a standard of living that is the envy of most of the rest of the world.
Mixed Economic Signals And A Bank Failure
Mixed Economic Signals And A Bank Failure
The U.S. economy created 311,000 new jobs in February, exceeding expectations of 225,000, according to the Bureau of Labor Statistics. The unemployment rate edged upward to 3.6%, but remains just above its lowest point in decades.
Inflation Rose In January, Indicating Tight Monetary Policy May Continue Into 2024
Inflation Rose In January, Indicating Tight Monetary Policy May Continue Into 2024
The 12-month rate of inflation rose in January, according to newly released data. The Personal Consumption Deflator Expenditure (PCED), the inflation index cited by the Federal Reserve in its policy statements, rose to a 12-month rate of 5.4%. The annualized rate of inflation had been expected to decline, but it rose from 5.3% in the 12 months ended December 2022 to the 5.4% annualized rate. It was a disappointment. It means the aggressive monetary tightening campaign begun in March 2022 may be extended.
Amid Divergent Data, Here’s What To Know
Amid Divergent Data, Here’s What To Know
For the ninth straight month, the Leading Economic Index® (LEI) for the U.S. declined in January 2023. According to data released Friday morning, the LEI dropped by three-tenths of 1%, following an eight-tenths of 1% plunge in December. Although the rate of decline in the LEI slowed in January, the collapse of the LEI historically foreshadows recession. The LEI collapsed before every recession in modern financial history except for the Covid-19 recession.