As Congress anticipates a federal shutdown, some federal workers could face the holidays without a paycheck. We hear from employees and contractors about their concerns going into the holidays. Earlier this week, the Federal Reserve raised interest rates for the fourth time this year, increasing rates from 2.25 percent to 2.5 percent. Fed Chair Jerome Powell has plans to hike interest rates two more times in 2019 if the economy stays strong, but some want to pause rate increases. Minneapolis Fed President Neel Kashkari joined us to discuss why he thinks the Fed should be patient with raising rates and the risks associated with those rate hikes. Then, a dispatch from tax hell. With filing season on the horizon, accountants are scrambling to understand the new tax law.
It’s beginning to look a lot like shutdown
By some economic measures, this has been a rough December. Stock prices? Falling. Markets? Volatile. Government? Might shut down. Interest rates? Gnashing of teeth. Recession coming? In the conversation. Consumers’ outlook on the economy? Improving. Wait, what? It’s true. Consumer sentiment rose in December. Why? Click the audio player above to hear the full story.
Tax Bill 2017
It's been a year since Congress passed the $1.5 trillion tax overhaul. And there is still a lot accountants and lawyers don't understand about it.