Congress makes progress on $1.1T spending bill

December 15th, 2015  // News

House and Senate lawmakers say Congress is moving toward a $1.1 trillion omnibus spending bill that could be finalized today. Last week's continuing resolution expires Thursday, meaning Congress may need to pass another short-term extension to finish and vote on the deal. Read more

Household net worth fell by nearly $1.2T in Q3

December 11th, 2015  // News

Advertisement DECEMBER 11, 2015 SIGN UP | FORWARD | ARCHIVE | ADVERTISE Brought to you by the American Institute of CPAs ‚ÄČ Top Story Advertisement Household net worth fell by nearly $1.2T in Q3 Household net worth in the US declined by close to $1.2 trillion in the third quarter -- one of the largest drops in household wealth since the start of the economic recovery, according to the Federal Reserve. The sharp fall in corporate equities, which lost more than $2.3 tri Read more

How to deal with increased regulatory requirements? It’s complicated

December 10th, 2015  // News

For the 11th consecutive quarter, regulatory requirements and changes top the list of challenges cited by CPA decision-makers in business and industry. CFOs and controllers sometimes hire consultants or ask staff to take on extra work to make sure they're compliant. Read more

Economists lower 2016 growth prediction

December 7th, 2015  // News

Economists are predicting 2.6% growth in 2016, according to the National Association for Business Economics. That's down a little from a survey in September, when economists anticipated growth of 2.7%. However, the economists still expect the unemployment rate to fall to 4.7% by the end of next year. Read more

Congress unveils 5-year transportation bill

December 2nd, 2015  // News

Negotiators from the Senate and House of Representatives have come to terms on a five-year transportation bill that would also reopen the Export-Import Bank. The bill, which will come to a vote this week, would be financed in part by redirecting funds from a Federal Reserve account. The plan would increase highway spending by 15% and transit spending by 18%. Read more

Underemployment has fallen for college graduates

December 1st, 2015  // News

College graduates' underemployment rate has fallen to 6.2%, down from a peak of 10.2% during the recession, according to an analysis by Georgetown University's Center for Education and the Workforce. The underemployment rate for high-school graduates is 12.9%. Read more

Financial abuse of seniors could grow as the population ages

November 30th, 2015  // News

As more people enter their golden years, they become increasingly susceptible to financial fraud and financial elder abuse, especially if their mental faculties start to decline. Read more

US Q3 GDP growth was higher than first thought

November 25th, 2015  // News

The US economy expanded at an annual rate of 2.1% in the third quarter, significantly greater than the Commerce Department's previous estimate of 1.5%. The biggest factor in the change was revised data showing that merchants were building inventory faster than economists had thought. For all of 2015, the GDP growth rate is expected to be 2.5%. Read more

Yellen defends Fed’s rate decisions

November 24th, 2015  // News

Janet Yellen, chair of the Federal Reserve, has defended the central bank's actions to hold interest rates close to zero for seven years in a letter to a group led by consumer advocate Ralph Nader. Yellen says higher rates would have cost many Americans jobs, pensions or homes. Lower rates have let Americans make big purchases and have created millions of jobs, Yellen says. Read more

Fed’s Williams: Central banks need ways to cope with low natural interest rates

November 23rd, 2015  // News

Given low natural interest rates around the world, central banks may need to consider ideas such as keeping big balance sheets, said John Williams, president of the Federal Reserve Bank of San Francisco. "You could think about keeping a permanently higher balance sheet, lowering the term premium and therefore actually raising the natural rate of interest in the economy," Williams said. Read more

Contact Us