Stocks and bonds turned in their worst year since 2008 in 2022, leaving most investors licking their wounds. 2022 was a year most investors would rather just forget and hope that 2023 brings better results. All of the major stock market averages were down significantly last year. The bell-weather S&P 500 Index fell 18.39%. The… Continue Reading
Category Archives: Investments & Investing
Americans’ Net Worth Plunges In 2022
Before I get into today’s discussion, let me briefly comment on the Fed Open Market Committee’s (FOMC) latest decision regarding short-term interest rates. As was widely expected, the FOMC voted yesterday to raise its Fed Funds rate by 0.5% to a range of 4.25-4.50%. This increase followed four consecutive rate increases of 0.75% earlier this… Continue Reading
3Q GDP Rises Again, Fed’s Jerome Powell Remains Hawkish, But…
The Commerce Department reported yesterday that 3Q Gross Domestic Product rose at an annual rate of 2.9% following its initial estimate of 2.6% last month, as you can see in the chart below. The latest 2.9% print was better than expected. Most forecasters are hesitant to issue predictions for the 4Q of this year due… Continue Reading
President Biden Plans To Double The IRS – Why?
President Joe Biden is proposing to double the size of the IRS by hiring nearly 87,000 new employees over the next decade, as part of a sweeping plan to chase down tax cheats. The hiring spree, part of a bid to increase IRS funding by $80 billion, would be phased in to give the department… Continue Reading
CEOs Say Recession Is Coming, Don’t Think It Will Be Short
Most major CEOs believe a recession is coming later this year or next, and they aren’t buying the notion that the US economy will have a soft landing following a series of historically large interest rate hikes by the Federal Reserve to fight inflation. According to a survey of 400 leaders of large US companies by consulting firm… Continue Reading