"The simple message is the economy is doing well," Federal Reserve Board Chair Janet Yellen said in the press conference that followed the central bank’s third quarter-point rate hike in 15 months. She went on to say "We have confidence in the robustness of the economy and its resilience to shocks." You might be wondering what exactly “well” means. Let’s start with the long-term economic growth rate, which has averaged about three percent annually for the 50 years from 1966 through 2016.
Read MoreGet ready for a Fed interest rate hike this week. The February jobs report showed that the US economy added a larger than expected 235,000 jobs, the unemployment rate edged down to 4.7 percent and annual wage growth bounced back from a revised 2.6 percent in January to 2.8 percent, ahead of the 2.7 percent average seen in the second half of last year. The increase in wages demonstrates that the labor market is tightening and that state-level minimum wage hikes are filtering through the economy.
Read MoreAlthough the IRS code is complicated and thorny, there are plenty of legitimate ways to reduce your tax bill. Before you sit down to attack your taxes, grab last year’s return as a reference and then review your W-2s, 1099s, charitable contribution receipts. Additionally, your credit card and bank statements may be useful to jog your memory for unreimbursed business or medical expenses. Then, consider these six concepts:
Read MoreAs the bull market in US stocks gets set to celebrate its eighth birthday this week, it is stunning to consider how far we have come. On March 9, 2009, here was the closing level of the three major indexes:
- Dow: 6547 – lowest level since April 15, 1997
- S&P 500: 676 – lowest level since Sept 12, 1996
- NASDAQ: 1268 – lowest level since Oct 9, 2002