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Fed raises its policy rate by 75 basis points and sees more increases

Fed raises its policy rate by 75 basis points and sees more increases

The Federal Reserve raised its policy rate by 75 basis points on Wednesday, the third straight increase of that size and a sign that it is continuing its aggressive push to tame inflation.
Industrial production falls for the first time since June

Industrial production falls for the first time since June

Industrial production fell by 0.2% in August, the first decline in three months, amid a slowdown in manufacturing and a sharp drop in electricity production.
Retail sales rebound on strong autos spending

Retail sales rebound on strong autos spending

The U.S. retail sales picked up slightly in August, rising by 0.3%, according to government data released on Thursday.
Economic headwinds: Consumer products

Economic headwinds: Consumer products

The impact of inflationary pressures on consumers and their willingness to spend has left many consumer products companies holding bloated inventory levels.
Producer prices ease as energy costs fall

Producer prices ease as energy costs fall

Prices paid to domestic producers deflated for the second month in a row as energy prices continued to fall and food prices remained unchanged.
U.S. August CPI: Core inflation arrives hot even as gas prices fall

U.S. August CPI: Core inflation arrives hot even as gas prices fall

Premature calls for the Fed to pause its campaign to tame inflation should be politely dismissed given the 0.1% increase in top-line inflation in August.
Spending remains steady on strong income growth and inflation relief

Spending remains steady on strong income growth and inflation relief

personal income and spending in July signaled a gradual rebound of the economy in the third quarter after six months of declines in gross domestic product.
Taxes and the Inflation Reduction Act: What middle market businesses should know

Taxes and the Inflation Reduction Act: What middle market businesses should know

Tax changes in the Inflation Reduction Act could affect middle market businesses despite targeting large corporations and high-income individuals.
Estate planning and income tax: Key considerations and planning points

Estate planning and income tax: Key considerations and planning points

You have mapped out your estate plan and feel confident in its estate tax efficiency. However, it is important to consider the income tax ramifications of each decision throughout the planning process to avoid unintended consequences.
US July CPI: Inflation posts likely peak as commodity, gas and transportation prices fall

US July CPI: Inflation posts likely peak as commodity, gas and transportation prices fall

Commodity, oil, and gasoline prices declined noticeably in July, driving the pace of top-line inflation lower even as core inflation continued to increase at a torrid pace.
Inflation Reduction Act passes Senate; House vote expected this week

Inflation Reduction Act passes Senate; House vote expected this week

The Inflation Reduction Act contains incentives for investment in the energy sector, a corporate alternative minimum tax, an excise tax on stock buybacks, IRS funding and an extension of business loss limitations.
Inflation Reduction Act passes Senate; House vote expected this week

Inflation Reduction Act passes Senate; House vote expected this week

The Inflation Reduction Act contains incentives for investment in the energy sector, a corporate alternative minimum tax, an excise tax on stock buybacks, IRS funding and an extension of business loss limitations.
Research and Development Tax Credits

Research and Development Tax Credits

While most companies expense the cost of research and development activities, most fail to take advantage of the R&D tax credit. Learn how the tax credit works and what expenses qualify for it.
Initial jobless claims rise amid labor market slowdown

Initial jobless claims rise amid labor market slowdown

New claims for jobless benefits rose by 2.4% to 260,000 for the week ending July 30, after a brief decline in the prior week.
Labor force dynamics: 60,000 jobs per month are needed to keep the jobless rate near 4.4%

Labor force dynamics: 60,000 jobs per month are needed to keep the jobless rate near 4.4%

Long-run changes in the labor force have slowed its growth and are likely to result in a shortage of workers even if the economy falls into recession.
Retirement plan amendment deadlines extended

Retirement plan amendment deadlines extended

The IRS extended the due dates for plan sponsors to incorporate required amendments under the SECURE, CARES, and Miners Acts. Plan sponsors should review these deadlines with their service providers.