Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Reality check: What’s up with the economy? Most of the economic numbers are actually looking pretty good. Our unemployment rates are near a 50-year low, interest rates have been dropping, and the Federal Reserve says it will drop the prime interest rate even more this month. Wages, disposable income, and… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. IRS encourages people to do an end-of-summer tax checkup to avoid tax surprises next year The IRS advises taxpayers to conduct a tax checkup before summer’s end to prevent unexpected tax bills and penalties next year. Reviewing withholdings and estimated tax payments can ensure accurate tax returns and avoid… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. CPI inflation comes in at 2.9%—better than expectations Inflation was lighter than forecasted last month, according to data released, as Wall Street pays close attention to weakening which should bolster the case for the Federal Reserve to lower interest rates. Rules for buying and selling a home are changing. Here’s… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. IRS relief now available for individuals and businesses impacted by Hurricane Debby The Internal Revenue Service announced tax relief for individuals and businesses in four states affected by Hurricane Debby. SBA Announces $7 Million in PRIME Grants to Support Micro-entrepreneurs The SBA PRIME grants program offers funding to nonprofits… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Mortgage rates tumble to lowest since April 2023 after weak jobs report Mortgage rates tumbled on Friday to their lowest since April 2023 after a weak jobs report sent bond yields sharply lower and boosted Wall Street’s expectations for an interest rate cut from the Federal Reserve at its September meeting.… Read more
Welcome to our Weekly Digest – stay in the know with recent news updates relevant to business and the economy. In more than 200 U.S. cities, $1 million only gets you a starter home A typical entry-level home in the U.S. costs roughly $200,000. But in a growing number of cities, that would only cover the down payment. With housing in short supply around the country and the stiffest mortgage rates… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Economy slowing but not in recession territory The U.S. economy is likely to slow in the coming months but is not flashing recession signals as it enters the critical 100-day period to the November presidential election. IRS finalises 10 year rule for retirement withdrawals The Internal Revenue Service and Treasury Department have… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Inflation hit its lowest level since March 2021 last month A key inflation measure fell to its lowest level in more than three years last month, but there’s still plenty of work remaining to get price increases down to the historically acceptable level. Business owners believe employees with AI… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. US economic growth for last quarter is revised up slightly to a 1.4% annual rate The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said Thursday in a slight upgrade from its previous estimate. Record high… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. How the enhanced CTC could impact tax season Tax season is well underway, but the fate of the $78 billion Tax Relief for American Families and Workers Act, including the enhanced Child Tax Credit, is now in the hands of the Senate. It is unclear when the legislation will cross… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Americans expected to increase spending this holiday season According to one survey, American shoppers are expected to spend 14% more this holiday season than they did in 2022, this despite inflation and high interest rates. Roxana Saberi has more. The looming office space real estate shortage. Yes, shortage There… Read more
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Surprisingly durable US economy poses key question: Are we facing higher-for-longer interest rates? One after another, economists have postponed or reversed their earlier forecasts for a U.S. recession. Optimism that the Fed will pull off a difficult “soft landing” — in which it would manage to reduce inflation to… Read more