Economic Commentary
Review key takeaways of the SECURE Act 2.0
ECONOMY & POLICY Changes for investors include RMD age increases, higher catch-up contribution limits and a new 529 transferal option. Passed in December 2022, the SECURE Act 2.0 includes a comprehensive set of provisions intended to help many Americans and employers with retirement saving. Many of its provisions are not detailed here, so please […]
Back to the drawing board
ECONOMY & POLICY February 03, 2023 Chief Economist Eugenio J. Alemán discusses current economic conditions. The January nonfarm payroll number was a blockbuster employment number while the revisions to 2022 numbers added more strength to the labor market than what had been reported previously. Furthermore, the 3.4% rate of unemployment matched the rate of […]
Federal Reserve announces 25 basis point increase
MARKETS & INVESTING February 01, 2023 The pace of interest rate adjustments is slowing, but the Fed remains hawkish on curbing inflation. In the first Federal Open Market Committee (FOMC) meeting of 2023, the Federal Reserve (Fed) raised the federal funds rate by 25 basis points (bps). Following four consecutive meetings of 75 bps […]
GDP & personal income and expenditures
ECONOMY & POLICY January 27, 2023 Chief Economist Eugenio J. Alemán discusses current economic conditions. The U.S. economy posted a growth rate of 2.1% in 2022 compared to 2021 after reporting an annualized quarter over quarter growth rate during the last quarter of the year of 2.9%. Economic growth slowed down considerably during this […]