The Fed's monetary malpractice will cost you

The Federal Reserve raised interest rates Wednesday by 0.75 percentage points, the fifth rate hike this year in the central bank's crusade to tame inflation. Mr. Powell stressed that Americans are already suffering from rising prices, and low-income people have been hit the hardest. "I wish there were a painless way to do that," Mr. Powell said.

Stocks have slumped 21% this year. Keep two basic factors in mind: your age and your risk tolerance. The market could easily fall further as the Federal Reserve continues to raise interest rates to combat inflation.

The Federal Reserve's federal funds rate has made the news a lot this year and for a good reason. The Fed raised its rate five times since March 2022, the most increases in one calendar year since 2005. One of the Fed's roles as the U.S. central bank can be likened to driving the economy down a road at a steady pace.

With another rate increase from the Federal Reserve and midterm elections taking place in November, market volatility remains high. With…

It is insulting and factually incorrect when we see Washington and Albany Democrats go out in the news saying inflation is' getting better' or it's' cooling down.' Look no further than President Biden's victory lap at the White House with Democratic leaders touting the' Inflation Reduction Act' as inflation in the real-world continues to remain at record highs…

Otherwise we'd all be perched on piles of money, counting our cash. Lucas Kraft of New Berlin is a certified financial planner, chartered alternative investment analyst and pro bono chair for the Financial Planning Association of Wisconsin, which is holding a free Financial Planning Day on Saturday, Oct. 8, at The Ridge Community Church in Greenfield.

A look at the bills currently in Congress that could impact your clients and your practice.

Your client could face some financial consequences if they fail to pay attention on when they take their first required minimum distribution.

CEDAR RAPIDS— Iowa Democratic U.S. Senate candidate Mike Franken says he wants to keep Social Security solvent for future generations and lower the Medicare eligibility age to 50.. Chuck Grassley in the Nov. 8 election, told an audience in Cedar Rapids on Monday that he supports making all earnings subject to Social Security payroll taxes.

SCRANTON- The United States Attorney's Office for the Middle District of Pennsylvania announced that on September 19, 2022, the United States Court of Appeals for the Third Circuit affirmed both the conviction and 210- month sentence of Anthony Diaz, age 54, formerly of East Stroudsburg, Pennsylvania. According to United States Attorney Gerard M. Karam, from…

Stocks finished broadly lower Tuesday as Wall Street, increasingly anxious about the slowing economy, looks ahead to a widely expected interest rate hike by the Federal Reserve in its bid to squash the highest inflation in decades. Best Buy fell 4.1%, Microsoft slid 0.8%, Abbott Laboratories dropped 1.7% and JPMorgan Chase closed 2% lower.

A jury found Daryl Robert Harrison, who is also known as Prince Daryl R. Attipoe and Prophet Daryl R. Attipoe, guilty of mail and wire fraud, conspiracy to commit mail and wire fraud and witness tampering, according to the U.S. Attorney Kenneth L. Parker of the South District of Ohio's office. Harrison and his stepfather, Robert Shelly Harrison, are also accused of…

–At the early part of this year, personal debt among U.S. adults aged 18+ was on a three-year downward trajectory, according to Northwestern Mutual's 2022 Planning& Progress Study. Among U.S. adults who carry debt, they held an average of $22,354 excluding mortgages in February when the research was conducted. "With inflation rising at the fastest pace since the…

Inflationary dynamics continue to surprise to the upside, and markets now expect the Fed to pursue one of its most aggressive rate hiking campaign in years. U.S. Treasury yields continue to move higher as well.

For most working people, the Federal Reserve Board is an obscure government institution, seemingly far removed from our lives. Since the beginning of the year, the Federal Reserve Board has increased interest rates four times, two of those times by 0.75%, which is much higher than typical. In each case, it has justified its actions as a means to fight inflation- but…

(Editor’s Note: Part 1 of a 3-part series on required minimum distributions.) By Lloyd Lofton and Gene Bond One of…