May 5th, 2023
Estimated Reading Time: 4 minutes

Wealth Management News & Insights

Investment Insights – Keith R. Schicker, CFA, Portfolio Manager

  • Why Does Protecting Wealth Come First? Ironically, the best way to build wealth may very well be to focus on protecting it first [READ MORE]

Primary Sources

  • Federal Reserve Issues FOMC Statement: Economic activity expanded at a modest pace in the first quarter. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated. [FRB]
  • Transcript of Chair Powell’s Press Conference on May 3, 2023: Before discussing today’s meeting, let me comment briefly on recent developments in the banking sector. Conditions in that sector have broadly improved since early March, and the U.S banking system is sound and resilient. [FRB]
  • FRB Announces the Results From the Review of the Supervision and Regulation of Silicon Valley Bank: The report discusses in detail the management of the bank and the supervisory and regulatory issues surrounding the failure of the bank. [FRB]

Financial Markets

  • F.D.I.C. Proposes Broadening Bank Insurance for Businesses: The recommendations followed concerns that fueled a run on several banks. [NYT]
  • How JPMorgan Became Banking’s Regular Rescuer: The largest bank is also the only one whose stability hasn’t been questioned. Its C.E.O. makes sure of that. [NYT]
  • Samsung is a Case Study in How Manufacturers Leave China: Company still has significant operations in China but its smartphone manufacturing business pulled up stakes years ago. [WSJ]

Financial Planning

  • Americans’ Savings Now Exceed $1 Trillion. Here’s How to Maximize Your Returns: Savings accounts are growing across the U.S., in a strong rebound from last year. How can savers get the most bang for their buck? [Kiplinger]
  • The Confusing Fallout of Dying Without a Will: Most Americans don’t have wills, leaving estate planning to a complicated range of state laws. [WSJ]

Business Strategy

  • The Business Trend That Unites Walmart and Tiffany & Co: Meet the winners from America’s consumer slowdown. [Economist]
  • To Binge or Not to Binge? Netflix, HBO Max Debate How to Release Your Favorite Shows: HBO Max’s ‘House of the Dragon’ and Netflix’s ‘Wednesday’ come out on top, but take different paths to success. [WSJ]

Life & Work

  • It’s Not Just Math and Reading: U.S. History Scores for 8th Graders Plunge: The latest test results continue a nearly decade-long decline. Try a sample quiz to test your knowledge. [NYT]
  • It’s the End of a World as We Know It: Astronomers spotted a dying star swallowing a large planet, a discovery that fills in a “missing link” in understanding the fates of Earth and many other planets. [NYT]
  • What Young Workers Miss Without the ‘Power of Proximity’: One of the first major studies on remote work shows a hidden penalty of flexibility: less supervision. [NYT]
  • Workers Have High Hopes for Pay Raises, Companies Not So Much: Employees expect bigger increases than last year while employers pull back from earlier projections. [WSJ]

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