With the presidential election approaching, experts are sounding alarms about the upcoming expiration of the 2017 Tax Cuts and Jobs Act, or TCJA. Without action from Congress, trillions in tax breaks enacted by former President Donald Trump via the TCJA will expire after 2025. The outcome of the 2024 election will determine which political party … Read more
For months, economists have wrestled with the disconnect between how well the economy is doing and how badly people feel about their financial standing. Now, evidence suggests that the so-called vibecession, or that prolonged period of negative sentiment about the economy, appears to be ending, according to Michael Pearce, deputy chief U.S. economist at Oxford Economics. As inflation cools … Read more
Federal Reserve Chairman Jerome Powell. Andrew Harnik | Getty Images The U.S. Federal Reserve can afford to make a jumbo 50 basis points rate cut next week without spooking markets, an analyst has suggested, as opinion on the central bank’s forthcoming meeting remains hotly divided. Michael Yoshikami, CEO of Destination Wealth Management, said Monday that … Read more
U.S. Secretary of the Treasury Janet Yellen speaks listens to a presentation during a tour at the IRS Processing Facility on September 06, 2024 in Austin, Texas. Brandon Bell | Getty Images Treasury Secretary Janet Yellen sought to reassure the public on Saturday that the U.S. economy remains strong, despite a string of weak job … Read more
Treasury yields fell Friday after August’s nonfarm payrolls report showed an easing labor market, fueling concerns of an economic slowdown. The yield on the 10-year Treasury was 1 basis point lower at 3.723%. The 2-year Treasury yield dropped 9 basis points to 3.665%. Yields and prices move in opposite directions. One basis point is equivalent … Read more
A “Now Hiring” sign is seen at a FedEx location on Broadway on June 07, 2024 in New York City. Michael M. Santiago | Getty Images Why there’s ‘slowing momentum’ Employers added 142,000 jobs in August, the Bureau of Labor Statistics reported Friday, a figure that was lower than expected. The good news: That figure … Read more
Plant Vogtle, a nuclear power plant in Waynesboro, Georgia, is the largest source of clean energy in the U.S. following the addition of two new reactors, according to Georgia Power. The plant’s unit 4 reactor began commercial operations in April and unit 3 went online last year. They are the first reactors built from scratch … Read more
U.S. Vice President and Democratic presidential candidate Kamala Harris speaks at a campaign event at the Throwback Brewery, in North Hampton, New Hampshire, on September 4, 2024. Joseph Prezioso | AFP | Getty Images WASHINGTON — Eighty-eight current and former top executives from across corporate America have endorsed Vice President Kamala Harris for president in … Read more
U.S. Federal Reserve Chairman Jerome Powell holds a press conference after the release of the Fed policy decision to leave interest rates unchanged, at the Federal Reserve in Washington, U.S, September 20, 2023. REUTERS/Evelyn Hockstein Evelyn Hockstein | Reuters As investors await the upcoming rate decision by the U.S. Federal Reserve this month, Carl Weinberg … Read more
Tugboats guide the Maersk Atlanta container ship at the Port of Newark in Newark, New Jersey, US, on Saturday, March 30, 2024. Bloomberg | Bloomberg | Getty Images After two days of meetings of North America’s largest longshoremen’s union amid an impasse with port ownership on a new contract, concerns of a strike are growing … Read more
