U.S. October jobs report: Moderation in hiring as wage gains outpace inflation
The economy added 150,000 jobs in October with the unemployment rate at 3.9%, the Bureau of Labor Statistics reported on Friday.
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IRS releases 2024 retirement plan limitations
Cost-of-living adjustments to retirement plan limits for 2024 have been issued by the IRS in Notice 2023-75.
New proposal aims to boost electric vehicle purchases through tax credits
Starting in 2024, tax credits for electric vehicles could be transferred to dealers, reducing the vehicle's purchase price. The proposal aims to expand EV adoption by offering immediate financial benefits and broadening the pool of eligible consumers.
The Key Functions of Your Nonprofit Board
Nonprofit board service can be as exhausting as it is rewarding. Whether you are on a board yourself, thinking about joining a board, or seeking to improve the one you sit on, here are three things that high-functioning nonprofit boards get right.
FOMC decision: Extended pause as Fed waits for economy and inflation to ease further
The Federal Reserve maintained its policy rate in a range between 5.25% to 5.5% at its November policy meeting on Wednesday. Given the recent backup in Treasury yields.
Don’t believe the hype: Student loan repayments present a modest drag on growth
The restarting of student loan repayments will not cause a large drag on overall spending or economic growth in the final quarter of the year.
Fed’s key wage inflation metric tops forecast
The employment cost index for the third quarter showed that labor costs rose 1.1% higher than the forecast of 1.0% and were higher than the pre-pandemic average
Spending stayed robust in September as inflation steadied
Friday's data on spending and income, together with recent data on gross domestic product, have pointed to a booming economy that should push back any speculation for an imminent recession.
Resilient U.S. economy grows 4.9% in third quarter
A resilient American economy continued to defy expectations by growing at a 4.9% pace in the third quarter because of one-time factors inside the consumption channel and because of sustained gains in U.S. labor dynamics and modest real income gains.
Dollar ascendant? Why the dollar’s dominance will not fade.
The idea that the global economy can be organized around another currency seems out of place given the dollar's ascendancy over the past 10 years during a time of uncertainty.
IRS updates e-signature policy and releases online accounts for sole proprietors
The IRS makes permanent e-signature guidance generated in response to COVID pandemic and launches online business tax account for sole proprietors
IRS announces ERC Withdrawal Program
IRS announces simplified method for employers who have not yet received ERC refunds to withdraw claims that they now believe are ineligible.
Existing home sales fall to the lowest level since 2010
Demand for existing homes has plunged in six out of seven months since February, falling to 3.96 million in September.
Retail sales top forecasts as American consumers stay resilient
Total sales rose by 0.7% on the month, following an upward revision to 0.8% for August, the Commerce Department reported on Tuesday.
Consumer sentiment hits 5-month low amid elevated inflation expectations
Consumer sentiment in October dropped to the lowest since May because of the rebound in inflation expectations.
Excess savings are critical to the economic expansion’s duration
According to our analysis of revised BEA data, consumers are on a strong footing, with between $400 billion and $1.3 trillion in excess savings that they can draw upon as the economy moves back toward price stability amid tightening financial conditions.