Exclusive Webinar for ExxonMobil Employees: Tackling the Challenges of Inflation and Rising Interest Rates
September 19, 2023 – We will be having a Q&A webinar for ExxonMobil employees to discuss the 3 most asked questions from our ExxonMobil webinar series. We'll discuss rising healthcare cost, inflation, and more!
Exclusive Webinar for AT&T Retirees: Deciphering the Intricacies of Rising Interest Rates on Your AT&T Lump Sum
When considering making energy-saving home improvements, it may be helpful to have a home energy audit done. Fortunately, there is a federal income tax credit available equal to 30% of the amount paid for home energy audits, up to $150 per tax year. (There are also credits available for many other energy-saving expenditures.) The IRS has now provided some guidance on what is required to claim the credit for a home energy audit.
posted in Financial Planning, 2023, Energy, Tax Credit, Audit
Economists have been predicting a recession for the U.S. economy ever since the Federal Reserve began aggressively raising interest rates in 2022. This is Econ 101. High interest rates, which make it more expensive to borrow, are intended to tame inflation by slowing business and consumer spending. A rapid and extreme increase in rates, as the Fed has carried out over the last year and a half, can be expected to slam the economy into reverse. The classic example is the early 1980s, when the Fed pushed the economy into a deep recession in order to stop runaway double-digit inflation.1
posted in Financial Planning, Economy, 2023, Recession, United States
August proved to be a tough month for stocks, with each of the benchmark indexes listed here ending the month notably lower. Investors tried to decipher mixed economic data throughout the month, attempting to gauge the course of the economy, while trying to determine what the Federal Reserve will do with interest rates moving forward.
Speaking of the Federal Reserve, it did not meet in August, so interest rates remained unchanged. However, Fed Chair Jerome Powell spoke at the Jackson Hole Economic Symposium (see below) and reiterated the Fed's intent to continue its restrictive policy until interest rates fell to 2.0%.
posted in Financial Planning, Stock Market, Interest rates, Inflation, 2023, Employment, GDP
