Low angled view of the U.S. Capitol East Facade Front in Washington, DC. getty Tax Notes reporter Benjamin Guggenheim discusses the latest tax legislation on Capitol Hill: the recently passed CHIPS and Science Act and the revived reconciliation bill known as the Inflation Reduction Act. This transcript has been edited for length and clarity. David…
Discover smart ways to boost your retirement income while making every spending dollar count. getty Retirees are getting doubly squeezed by inflation and declines in their retirement savings; many pre-retirees are understandably worried as well. For many seniors, it’s a déjà vu from the 1960s and 1970s, when the United States experienced high inflation and…
Initial Jobless Claims Universal Value Advisors The biggest surprise this past week was the unexpectedly large rise in the Payroll Employment Report, at +528K, more than double what appeared to be an optimistic consensus estimate of +250K. Most of the major equity indexes eked out a slightly positive week (see table), but neither the equity…
Energy Sector Earnings Are The Bright Spot This Season. getty Last week, the second quarter earnings season had its second busiest week, with 155 S&P 500 companies reporting. The pace of the second-quarter earnings reports begins to decline precipitously this week, with only 23 S&P 500 companies scheduled to release earnings. 87% of S&P 500…
The market bounce may be short-lived if it thinks that the Fed is going to become less aggressive … [+] anytime soon. (Photo by Bryan R. Smith / AFP) (Photo by BRYAN R. SMITH/AFP via Getty Images) AFP via Getty Images The National Bureau of Economic Research (NBER), a private non-profit, is the self-appointed authority…
At about this time last year, the Federal Reserve was calling inflation “transitory”. It’s proven to be anything but. The inflation rate hit 9.1% in June, a level not seen since 1981 at the tail end of the stagflationary 1970s. It’s proven to be so enduring that it’s time to make some tough choices. Below…
Economic Uncertainty sign against a stormy background with lightning and copy space. Dirty and … [+] angled sign adds to the drama. getty Martin A. Sullivan, Tax Analysts’ chief economist, revisits the United States’ economic path to inflation and discusses mitigation efforts for a possible recession. This transcript has been edited for length and clarity.…
GDP Growth Was Negative For Two Straight Quarters getty Two straight quarters of economic contraction have set fire to the debate about whether we have already descended into recession. While two consecutive quarters of GDP decline provide a good rule of thumb, the National Bureau of Economic Research or NBER has historically been the final…
Consumer Inflation- Official vs ShadowStats ShadowStats.com The Fed raised the Federal Funds interest rate (the rate banks pay for reserves) on Wednesday by 75 basis points (bps) (0.75 pct. points) from 1.50% to 2.25%, and on Thursday, the BEA reported real Q2 GDP fell -0.9%. That’s the second quarter in a row of negative real…
Getty Images Key takeaways Clean energy got a boost Thursday after Sen. Joe Manchin and Senate Majority Leader Chuck Schumer reached a deal on climate spending The renamed “Inflation Reduction Act of 2022” directs a record $370 billion to climate and clean energy spending RUN stock, SunPower stock and Enphase Energy all jumped on Thursday’s…