Wealth Management News & Insights
Fed Prepared to Slow Rate-Rise Pace in Dec, Hiring Continues at Robust Pace, Spotify ‘Wrapped’ is Here
Financial Markets
- Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December: Fed chair says a labor-market slowdown will be needed to bring inflation back to the central bank’s 2% target. [WSJ]
- Fed’s Aggressive Rate Hikes Are a Game Changer: Monetary policy usually acts on the economy with ‘long and variable’ lags. [WSJ]
- November Jobs Report: U.S. Hiring Continues at Robust Pace, Complicating Fed’s Path: The labor market showed resilience despite efforts by the Federal Reserve to cool the economy, stoking fears about higher inflation. [NYT]
- Biden Signs Bill Averting Rail Worker Strike Despite Lack of Paid Sick Days: President Joe Biden signed a bill into law making a rail strike illegal, preventing workers from walking off the job weeks before the holiday season. [CNBC]
- They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried’s Doomed FTX Empire: The emerging picture of what went wrong suggests the crypto empire was a mess almost from the start, with few boundaries, financial or personal. [WSJ]
Financial Planning
- Thoughts Before Funding a 529 College Savings Plan: Watching your college savings grow tax-free with a 529 college savings plan feels great, but failing to follow the rules could come with penalties and taxes that you’ll regret. [Kiplinger]
- A Powerful New Tool Transforms How Billionaires Give Fortunes Away: Ray Dalio and the Koch family have pioneered philanthropy through the 501(c)(4). More than just a charity, it can avoid punishing taxes, retain business control and even influence politics. [WSJ]
- Banks Plan to Start Reimbursing Some Victims of Zelle Scams: The seven banks that own payments network Zelle are preparing a major rule change early next year that will require the network’s member banks to compensate customers who fall victim to certain kinds of scams, according to two people familiar with the plans. [Yahoo News]
Business Strategy
- Bob Iger Is Back at Disney to Fix His One Big Failure: Succession: The veteran CEO’s handpicked successor promptly flopped. Now he has two years to help make it right. [WSJ]
- Apple Makes Plans to Move Production Out of China: The iPhone maker is looking to further diversify the supply chain that has powered its growth. [WSJ]
- Airbnb Aims to Attract Big Landlords With a Cut of Its Rental Sales: New listing service for rental apartments will only include units where short-term sublets are allowed. [WSJ]
- Netflix to Let Tens of Thousands of Subscribers Give Early Feedback on Content: Streaming giant plans global expansion of program that helped make ‘Don’t Look Up’ less serious. [WSJ]
- Popeyes, Wingstop, Others Step Up Chicken Offerings as Poultry Prices Drop: Poultry supplies improve after chicken companies boost production, while price drop brings relief to restaurant chains. [WSJ]
Life & Work
- How Colleges and Sports-Betting Companies ‘Caesarized’ Campus Life: In order to reap millions of dollars in fees, universities are partnering with betting companies to introduce their students and sports fans to online gambling. [NYT]
- Major League Pickleball’s newest team owner is Anheuser-Busch: The rapidly growing sports league announced on Tuesday that Anheuser-Busch will purchase a Major League Pickleball team. The team will begin playing in the 2023 season. [CNBC]
- Spotify ‘Wrapped’ Is Here and Joe Rogan, Bad Bunny Top the Streaming Charts: Company’s year-end data show that the podcaster and rapper both dominated the platform for the third year in a row. [WSJ]
- US Plan to Tap Businesses for Green Finance Meets Resistance: Unable to persuade Congress or the American public to spend billions of dollars more a year in climate financial aid, the U.S. government is trying to make it easier for private corporations to send cash to the developing world in exchange for looking green at home. [AP News]
- RSV and Flu Are Making More Kids Sick This Year: Covid-19 spread, prevention measures kept other viruses in check last year. [WSJ]
