Rep. Ron Kind, D-Wis., plans to reintroduce 2018’s Retirement Enhancement and Savings Act in an effort to increase workers’ savings in retirement plans sponsored by employers. The bill would increase the tax credit for certain small-employer pension plans while providing additional tax credits to companies that offer 401(k) automatic enrollments,…
The Federal Reserve has left interest rates unchanged, said it would be patient with rate increases and shown willingness to adjust plans for reducing the size of its bond portfolio. The news boosted equity markets and triggered declines in Treasury yields and the US dollar. Yahoo/Bloomberg
The Federal Reserve is widely expected to announce that interest rates will remain unchanged after its two-day meeting concludes today. The news conference with Fed Chairman Jerome Powell will be keenly watched for indications regarding the future direction of rates and the Fed’s efforts to reduce its balance sheet. The…
Proposals to impose best-interest standards on insurance agents could be taken up by as many as 14 states. “There’s a narrative that we have to fix something but there’s no evidence that there’s something that needs fixing,” AssessBEST CEO Kim O’Brien said. InsuranceNewsNet Magazine online
Both the Securities and Exchange Commission and Department of Labor have included best interest standards on their agenda for fall 2019. The Labor Department is working on a revised fiduciary rule, and the SEC is in the process of reviewing comment letters and other feedback on Regulation Best Interest, including…
The Federal Reserve still plans to gradually increase interest rates but has left them unchanged at a meeting this week. The central bank says the US economy remains healthy but notes a downturn in growth of business investment. Reuters
Minutes of the Federal Reserve’s May meeting suggest interest rates are likely to increase in June. “Most participants judged that if incoming information broadly confirmed their current economic outlook, it would likely soon be appropriate … to take another step in removing policy accommodation,” according to the minutes. Reuters
The Federal Reserve is expected to leave rates unchanged at this week’s meeting, but more rate hikes are likely later in the year. Steady economic growth and rising inflation have many economists predicting three more rate increases this year. The Associated Press
The Federal Reserve on Wednesday raised its key interest rate to a range between 1.5% and 1.75%, an increase of a quarter of a percentage point, in its first meeting under Chairman Jerome Powell. The rate-setting committee responded to a stronger economic outlook by signaling a brisker rate of increases…
After the US Court of Appeals for the 5th Circuit vacated the Labor Department's fiduciary rule, the department said will it not enforce the rule "pending further review." A department spokesman declined to comment. Pensions & Investments (free access for SmartBrief readers)
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