One of the best resources for “real-time updates” on how retirees are settling into retirement is the Retirement Confidence Survey, which has been conducted for the past 33 years by the Employee Benefit Research Institute.
Turn on the television or browse the Internet, and you’ll see there’s no shortage of opinions about what’s next for the economy.
The Federal Reserve is making headlines for how it is handling short-term interest rates, but you may not be aware of the colorful history and wide range of financial responsibilities that fall to the central bank of the United States.
In 2022, inflation hit levels not seen in more than 41 years. Although the Federal Reserve has tightened its monetary policy to help manage inflation, many people are still concerned about what may lie ahead.
The Inflation Reduction Act, signed into law on August 16, 2022, includes health-care and energy-related provisions, a new corporate alternative minimum tax, and an excise tax on certain corporate stock buybacks. Additional funding is also provided to the IRS.
In March 2022, the Consumer Price Index for All Urban Consumers (CPI-U), the most common measure of inflation, rose at an annual rate of 8.5%, the highest level since December 1981. It’s not surprising that a Gallup poll at the end of March found that one out of six Americans considers inflation to be the most important problem facing the United States. When inflation began rising in the spring of 2021, many economists, including policymakers at the Federal Reserve, believed the increase would be transitory and subside over a period of months. One year later, inflation has proven to be more stubborn than expected. It may be helpful to look at some of the forces behind rising prices, the Fed’s plan to combat them, and early signs that inflation may be easing.