What a big show...just in time for #250, the Fed raised short-term interest rates for the first time in nearly a decade; Congress voted on a budget, which extended and made permanent a bunch of tax deals; and guest Jane MacAuliffe of Forbes Financial Planning outlined important financial decisions associated with divorce.
Now that we have lift off, how long will the journey last? As expected, the Federal Reserve raised rates by 0.25 percent. While the economy is far from perfect, officials noted that activity has been strong enough to strengthen the labor market, foster consumer spending, and prompt business investment.
The big question for investors is whether the Fed will be able to gradually increase rates over the next few years, as the officials themselves predict, or will changing economic conditions force either a slower or quicker pace. The next big question: When will savers benefit from the rate hike? Unfortunately for consumers, while the nation’s big banks chose to immediately increase their prime lending rates, most chose NOT to increase deposit rates on savings accounts. That means that beleaguered savers will have to wait until next year to see a bump up in their income.
Jane McAuliffe is pursuing the Certified Divorce Financial Analyst Certification (CDFA) to help clients achieve an equitable outcome during the divorce process. She helped us understand the various reasons why such a niche exists and how she provides much-needed advice during the emotional rollercoaster of a divorce.
Thanks to everyone who participated this week, especially Mark, the Best Producer in the World. Sadly, Mark did not appear on the show in honor of #250...we may need to wait until #300! Here's how to contact us:
- Call 855-411-JILL and we'll schedule time to get you on the show LIVE
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