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☆ This is 'the most attractive feature of an ETF,' advisor says — and it can help cut your tax bill
▼ + stars: | 2023-11-22 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Kate_sept2004 | E+ | Getty ImagesAs mutual fund investors brace for year-end distributions, experts have tips to lessen the tax burden in future years. Certain mutual funds have capital gains payouts in November and December, which can trigger taxes in brokerage accounts, even if you haven't sold shares. Review your mutual funds' cost basisGlassman said many investors own mutual funds "going back years or decades" with significant gains. "People may be able to sell those and avoid the [capital gains] distribution on those shares." But there's an easy way to reduce next year's capital gains distributions.

Persons: Barry Glassman, Morningstar, Glassman, Matt Knoll Organizations: Wealth, CNBC's, Planning Locations: McLean , Virginia, Moline , Illinois

ETFs are a wrapper for individual assets such as stocks and bonds, similar to mutual funds. However, many ETFs have better tax efficiency and lower expense ratios than mutual funds, driving many investors to make the switch. "ETFs have come a long way over the past 15 to 20 years," said certified financial planner Barry Glassman, founder and president of Glassman Wealth Services in McLean, Virginia. In 2022, investors sold more than $900 billion from mutual funds and poured roughly $600 billion into ETFs, according to Morningstar data. The most attractive feature of an ETF is that most don't distribute capital gains at the end of the year.

Persons: Barry Glassman, " Glassman, Cathy Curtis, Marguerita Cheng, Kamila Elliott, Cheng Organizations: Wealth, CNBC's, Morningstar, CNBC's FA Council, Curtis Financial, Blue, Global Wealth, Wealth Partners Locations: McLean , Virginia, Oakland , California, California, Gaithersburg , Maryland, Atlanta

☆ Music publishers ask court to halt AI company Anthropic's use of lyrics
▼ + stars: | 2023-11-17 | by ( Dawn Chmielewski | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLOS ANGELES, Nov 17 (Reuters) - Three music publishers are asking a federal court judge to issue a preliminary injunction that would prevent artificial intelligence company Anthropic from reproducing or distributing their copyrighted song lyrics. The three publishers filed a suit against Anthropic on Oct. 18, which accused the San Francisco company of "systematic and widespread" infringement of their copyrighted song lyrics. The publishers allege Anthropic "profits richly" from its infringement of their repertoires of copyrighted works, achieving a valuation of $5 billion while paying "nothing" to publishers or their songwriters. "Anthropic must not be allowed to flout copyright law," the publishers said in a court document supporting its request for a preliminary injunction. "If the court waits until this litigation ends to address what is already clear -- that Anthropic is improperly using publishers' copyrighted works -- then the damage will be done."

Persons: Dado Ruvic, ” Anthropic, Anthropic, Claude, Don McLean's, Buddy Holly, Dawn Chmielewski, Mary Milliken, Franklin Paul Organizations: REUTERS, Universal, Concord Music, ABKCO, Reuters, Anthropic, San, Franklin Paul Our, Thomson Locations: San Francisco, Los Angeles

☆ Opinion | In Britain, Reality Is Cleaving in Two
▼ + stars: | 2023-11-16 | by ( Moya Lothian-Mclean | ) www.nytimes.com time to read: +2 min

In Britain, Armistice Day is usually an understated affair, marked only by two minutes of silence at 11 a.m. The other, comprising a few hundred people from Britain’s far right and football hooligan networks, gathered several miles away in Westminster. Her departure was quickly overshadowed by the shock return to frontline politics of the former prime minister David Cameron, the architect of austerity and Brexit. For all her extremist posturing, Ms. Braverman is part of an establishment consensus that firmly backs Israel’s war in Gaza. In Britain, as its politicians and public move away from each other, reality is cleaving in two.

Persons: Suella Braverman, Rishi Sunak —, Sunak, David Cameron, Braverman Organizations: Metropolitan Police Locations: Britain, London, Gaza, snaked, Britain’s, Westminster

☆ Opinion | With Covid, Is It Really Possible to Say We Went Too Far?
▼ + stars: | 2023-11-15 | by ( David Wallace-Wells | ) www.nytimes.com time to read: +3 min

In others, when you went into stores, the store asked you to wear a mask. Is there a way to lock down that we could have protected people in nursing homes? Is there a way to lock down that we could have protected people who live in multigenerational housing? If you’re a restaurant owner who lost their restaurant because of this, you might define it as lockdown. McLean: I think you’re asking an essentially unknowable question.

Persons: didn’t, McLean, it’s Locations: China, Peru, Sweden, U.S

☆ Inside David Solomon's evolution of Goldman Sachs
▼ + stars: | 2023-11-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at a fascinating deep dive into the state of Goldman Sachs, including an interview with CEO David Solomon. The big storyLong live GoldmanJon Krause for InsiderDid Goldman Sachs need to die to survive? The prestigious Wall Street bank has drawn plenty of bad headlines over the past few years, often focused on CEO David Solomon. AdvertisementMichael Kovac/Getty ImagesMcLean's story provides a fascinating look at not just Goldman Sachs' evolution but Wall Street's. Goldman COO John Waldron told McLean it's a "big, big issue" at the bank.

Persons: —, we've, it's, Goldman Sachs, David Solomon, What's, Goldman Jon Krause, Solomon, Bethany McLean, McLean, he's, hasn't, Michael Kovac, Banks, Goldman, John Waldron, McLean it's, wouldn't Goldman, Jerome Powell, Carlos Barria, Mark Zuckerberg, Jeff Bottari, Mark, TikTok, Ian Grandjean, Chatbots, Frederick Banting, Travis Barker, King Charles III, Yuna, Condoleezza Rice, Claude Monet, Ina, Terri Peters, Ina Garten, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Business, Enron, Brookings Institution, UBS, Moody's, Facebook, Google, Meta, Apple Locations: Washington, Roman, New York City, San Diego, London, New York

☆ Opinion: Marjorie Taylor Greene botches the explanation
▼ + stars: | 2023-11-12 | by ( Richard Galant | ) edition.cnn.com time to read: +18 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. CNN —On the day after Republicans lost pivotal races in Kentucky, Ohio and Virginia last week, Rep. Marjorie Taylor Greene offered a diagnosis for her party’s ills. On Tuesday, Ohio voters passed an amendment to the state constitution that guarantees abortion rights. The disconnect may or may not cost Trump votes in 2024, but it’s hurting Republicans up and down the ballot. “Democrats will win in 2024 by making the election a choice, not just a referendum on Biden’s performance in office.

Persons: Marjorie Taylor Greene, CNN’s Manu Raju, Donald Trump, Roe, Wade, Trump, ”, Kate Bedingfield, Joe Biden’s, Youngkin, ” Bill Bramhall, Bedingfield, They’ll, Julian Zelizer, Biden, ” Clay Jones, ” Clay Jones Republican Lanhee Chen, — don’t, Chen, “, ” Mary Ziegler, Davis, Republicans don’t, Comstock, Nikki Haley, Ana Marie Cox, Ron DeSantis, Vivek Ramaswamy, Dick Cheney, ’ Haley, Haley, Ramaswamy, ‘, Haley “, ” Patrick T, Brown, ” Roxanne Jones, DeSantis, Todd Graham, Bill Bramhall, Mary Ellen O’Connell, ” “, ” John Spencer, he’s, Al Qaeda, Peter Bergen, Israel, Hani Almadhoun, Suzanne Nossel, Frida Ghitis, Walt Handlesman, Ivanka Trump, Elliot Williams, Letitia James, Williams, ” Williams, Nick Anderson, Ian Berry, Bob Dylan, Anna Lee, I’d, William, I’ll, Bethany McLean, Joe Nocera, Dr, Kent Sepkowitz, ” Sepkowitz, ” Don’t, Corey Mintz, DoorDash, Paul Rieckhoff, Jill Filipovic, Shannon Watts, Jade McGlynn, Keith Magee, King Charles, Sara Stewart, Priscilla ’, Barbra Streisand, CHANEL, Presley Ann, Patrick McMullan, Holly Thomas, James Brolin, Barbra’s, Thomas Organizations: CNN, Republicans, Trump, “, White House, State Senate, Biden, ” Clay Jones Republican, University of California, Department of Justice, Florida Gov, Republican, Senate, Content Agency Israel, Hamas, University of Notre Dame, Modern War, Twitter, Facebook, ISIS, Content Agency Trump, New York, Trump Organization, “ Trump, —, Tribune, Agency, College of, Getty, BBC Locations: Kentucky , Ohio, Virginia, Georgia, “, Mexico, Ohio, State, Michigan, Pennsylvania, Arizona, Kentucky, Mississippi, Florida, Miami, Hialeah , Florida, Trump, Israel, Gaza, Hamas, West, Mosul, Raqqa, Manhattan, New York City, Ukraine, Malibu , California, Greenwich Village

☆ Author Bethany McLean talks the COVID pandemic's impact on the American education system
▼ + stars: | 2023-11-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAuthor Bethany McLean talks the COVID pandemic's impact on the American education systemBethany McLean, ‘Big Fail’ author, joins 'Power Lunch' to discuss the impact of moving to remote schooling during the COVID pandemic.

Persons: Bethany McLean, ‘

☆ Britney Spears’s Memoir Sells 1.1 Million Copies in U.S. in First Week
▼ + stars: | 2023-11-01 | by ( Julia Jacobs | ) www.nytimes.com time to read: +2 min

A news release from Gallery Books, an imprint of Simon & Schuster, announcing the sales numbers quoted Spears as saying, “I poured my heart and soul into my memoir, and I am grateful to my fans and readers around the world for their unwavering support.”(Published figures put the price tag for Spears’s memoir between $12.5 million and $15 million.) The book is Spears’s first full account of her 13 years under a conservatorship, which her father, James P. Spears, was granted in 2008 amid a custody battle and Britney Spears’s series of public struggles. In the memoir, Spears describes an adulthood in which security personnel dispensed her medications and put parental controls on her iPhone. Kristen McLean, an industry analyst for Circana BookScan, which tracks book sales numbers, said on Wednesday that Spears’s memoir seemed as though it had a good chance of surpassing one million in print sales in the United States this year. Only one adult nonfiction title — Prince Harry’s “Spare” — has reached that height so far.

Persons: Simon, Simon & Schuster, Spears, Mickey, Justin Timberlake —, James P, Britney, Kristen McLean, Circana, Harry’s “, McLean, Walter Isaacson’s, Elon Musk, Michael Lewis’s, Sam Bankman, Jada Pinkett Organizations: Books, Simon &, Mickey Mouse Locations: Louisiana, Kentwood, United States

☆ Three generations of women under one roof raised an outgoing, curious boy. They’ll never see him graduate from high school
▼ + stars: | 2023-10-30 | by ( Emma Tucker | ) edition.cnn.com time to read: +8 min

She tells him he is her “everything.”The curious, rambunctious child was raised by his mother, his grandmother and great-grandmother, Colbert’s mother. The moment she laid eyes on her grandson, Colbert said he changed her life. Bryson Hudson, left, and his grandmother, Erica Colbert. She won’t see Bryson graduate from high school; she won’t see him have a girlfriend, wife, or children. Bryson Hudson, right, and his younger brother, Drake.

Persons: YaYa don’t, Bryson, YaYa, ” Erica Colbert, Bryson Hudson, Katika Travis, Drake, Colbert’s, Travis, Colbert, ” Colbert, Erica Colbert, Christopher McLean, Robert D, Cole, McLean, who’ve, winces, Erica Colbert Bryson, “, ” Bryson Hudson, Erica Colbert Colbert, Louis Vuitton, ’ ” Colbert, ‘, ”, Granny ”, Granny Organizations: CNN, Digital Harbor High School, Baltimore City, Broadway, Firearms Locations: Baltimore, East Baltimore, America, ”

☆ Australian wine producers cannot expect full restoration of China demand, trade association says
▼ + stars: | 2023-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAustralian wine producers cannot expect full restoration of China demand, trade association saysChina tariffs have slashed value of Australia wine exports to China by about 98%, says Lee McLean, chief executive of Australian Grape & Wine.

Persons: Lee McLean Organizations: Australian Locations: China

☆ U.S. COVID responses particularly hurt less privileged children, says author Bethany McLean
▼ + stars: | 2023-10-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. COVID responses particularly hurt less privileged children, says author Bethany McLeanHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Bethany McLean, Brian Sullivan, “ Organizations: U.S, CNBC

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsCompanies Anthropic FollowAlphabet Inc FollowAmazon.com Inc Follow Show more companiesOct 18 (Reuters) - Music publishers Universal Music (UMG.AS), ABKCO and Concord Publishing sued artificial intelligence company Anthropic in Tennessee federal court on Wednesday, accusing it of misusing an "innumerable" amount of copyrighted song lyrics to train its chatbot Claude. The music publishers' lawsuit appears to be the first case over song lyrics and the first against Anthropic, which has drawn financial backing from Google (GOOGL.O), Amazon (AMZN.O) and former cryptocurrency billionaire Sam Bankman-Fried. The lawsuit accused Anthropic of infringing the publishers' copyrights by copying their lyrics without permission as part of the "massive amounts of text" that it scrapes from the internet to train Claude to respond to human prompts. For example, the lawsuit said that Claude will provide relevant lyrics from Don McLean's "American Pie" when asked to write a song about the death of rock pioneer Buddy Holly. The publishers asked the court for money damages and an order to stop the alleged infringement.

Persons: Dado Ruvic, Claude, Anthropic, Mark Ronson, Bruno Mars, Matt Oppenheim, Sam Bankman, Don McLean's, Buddy Holly, Blake Brittain, David Bario, Bill Berkrot Organizations: REUTERS, Universal Music, Concord Publishing, Beach, Microsoft, Anthropic, Google, Thomson Locations: ABKCO, Tennessee, rightsholders, Washington

☆ Negotiations suspended between Hollywood studios and actors’ union
▼ + stars: | 2023-10-12 | by ( Rob Mclean | ) edition.cnn.com time to read: +1 min

CNN —The Alliance of Motion Picture and Television Producers said late Wednesday that negotiations with SAG-AFTRA — the union representing about 160,000 actors — have been suspended. The suspension came after the actors’ union presented its latest proposal to the AMPTP, according to the statement. SAG-AFTRA presented few, if any, moves on the numerous remaining open items.”In this round of negotiations, AMPTP said it had made a list of offers to the union that included a “first-of-its-kind success-based residual for High-Budget SVOD productions” and several AI protections. SAG-AFTRA has been on strike since July 14, joining the fray a little more than two months after the writers’ strike began. The writers’ strike ended in late September, and members of the Writers Guild of America ratified a new contract with Hollywood and television studios on October 9.

Persons: —, AMPTP, AFTRA Organizations: CNN, Alliance, Television Producers, SAG, Amazon Prime, Writers Guild of America, Hollywood

☆ Walgreens Boots Alliance names Tim Wentworth new CEO
▼ + stars: | 2023-10-11 | by ( Rob Mclean | ) edition.cnn.com time to read: +1 min

New York CNN —Walgreens Boots Alliance said Tuesday that it has named Tim Wentworth its new CEO. Wentworth will begin the position on October 23, according to a news release, and will also join the WBA board of directors. We are confident he is the right person to lead WBA’s next phase of growth into a customer-centric healthcare company.”In September, former WBA CEO Rosalind Brewer stepped down less than three years after taking the helm of the pharmacy chain. Brewer also immediately stepped down as a member of the company’s board. Walgreens’ board named Ginger Graham, a member of the board, as interim CEO.

Persons: Tim Wentworth, Wentworth, “, ” Wentworth, Evernorth, Stefano Pessina, Wentworth “, Rosalind Brewer, Brewer, Ginger Graham Organizations: New, New York CNN, Walgreens Boots Alliance, WBA, Board, Express, Human, ”, Fortune, Walgreens Locations: New York

☆ More mortgage applications are being rejected for 'insufficient income.' Here's why
▼ + stars: | 2023-10-04 | by ( Jared Mitovich | ) www.cnbc.com time to read: +2 min

Prospective buyers attend an open house at a home for sale in Larchmont, New York, on Jan. 22, 2023. As high home prices and interest rates push up monthly mortgage payments, it's harder for many consumers to even get a mortgage in the first place. Last year, lenders denied loan applications due to "insufficient income" more often than any other point since records began in 2018, according to a new report from the Consumer Financial Protection Bureau. Refinance applications were more frequently rejected, at a rate of 24.7% in 2022 — up sharply from 14.2% in 2021. "In most cases, income did not increase at the pace of average mortgage payments," said Glassman, who is a member of CNBC's FA Council.

Persons: Barry Glassman, Glassman Organizations: Consumer Financial, Finance, Wealth, CNBC's FA Locations: Larchmont , New York, McLean , Virginia, CNBC's

NASHVILLE, Tenn. (AP) — For nearly a week, families whose lives were upended by a Nashville elementary school shooting took turns sharing dark details to Tennessee lawmakers. Meanwhile, families have waded into the legislative process, uncovering and reliving personally painful details before lawmakers — privately, publicly or both — with mixed results. The inaction this year in Tennessee was markedly different than how Florida reacted five years ago to a massive school shooting. Parents offered similar pleas in Tennessee last month during a brief special legislative session called by Republican Gov. For many parents, it signaled they would likely retell and relive these dark moments for many more months, as they pledged to seek change next legislative session and in the 2024 statehouse elections.

Persons: —, ”, Melissa Alexander, reliving, “, Melissa Brymer, Marjory Stoneman, “ I’ve, Max Schachter, Alex, I’m, Kimberly Mata, Rubio, Lexi, ” Mata, Bill Lee, Jeremy Faison, Sarah Shoop Neumann, audibly, Chris Todd, Becky Hansen, sobbed, Abby McLean, ” McLean, ” Alexander, Paul Weber Organizations: Covenant School, Republican, General Assembly, Democratic, UCLA, Duke University National Center for, Florida's Republican, Marjory Stoneman Douglas High School, Parkland, Robb Elementary School, Texas Capitol, Texas House, Republican Gov, Capitol, Covenant, House Republicans, Senate, Associated Press Locations: Tenn, Tennessee, United States, Florida, Parkland, Texas, Uvalde, Austin , Texas

☆ Square outage: Digital payments company working to identify issue
▼ + stars: | 2023-09-08 | by ( Rob Mclean | ) edition.cnn.com time to read: 1 min

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☆ Meet the New IRS, Same as the Old IRS
▼ + stars: | 2023-08-18 | by ( J.D. Vance | ) www.wsj.com time to read: 1 min

IRS Commissioner Daniel Werfel speaks at an event in McLean, Va., Aug. 2. Photo: Alex Wong/Getty ImagesThe Internal Revenue Service recently tried to reinvent itself. Earlier this year, outfitted with an additional $80 billion and 87,000 new agents, the agency unveiled a new set of priorities for the next eight years. Its Strategic Operating Plan promises to “deliver transformational change for taxpayers” while improving services and quickly resolving enforcement issues. That may sound too good to be true—because it is.

Persons: Daniel Werfel, Alex Wong Organizations: Internal Revenue Service, ” Locations: McLean , Va

Bottles of Australian wine are seen at a store selling imported wine in Beijing, China November 27, 2020. REUTERS/Florence Lo/File Photo Acquire Licensing RightsSYDNEY, Aug 18 (Reuters) - Australia's wine industry faces severe oversupply problems that will need years to resolve, experts say, pointing to Chinese tariffs, high production and export bottlenecks during the COVID-19 pandemic. The recent removal of tariffs on Australian barley has fed hopes for an early easing of the five-year tariffs China imposed on Australian wine in 2021. Australian wine exports declined a tenth in value to A$1.87 billion and 1% in volume to 621 million litres in the year ended June, Wine Australia’s Export Report said in July. "All we can say is next time you go to buy a bottle of wine, make sure it's Australian," McLean said.

Persons: Florence, Pia Piggott, Lee McLean, McLean, Piggott, Praveen Menon, Clarence Fernandez Organizations: REUTERS, Rights, Rabobank, China, Labor, Wine Estates, Thomson Locations: Beijing, China, Australia, Britain, Europe, United States, Asia

CNN —President Joe Biden is using the presidential retreat at Camp David to help with a diplomatic mission – hosting the first-ever trilateral summit with Japan and South Korea, two countries that are putting aside a fraught history in the face of shared security challenges. The gathering will mark the first time Biden is hosting foreign leaders at the Camp David retreat, a site of historic diplomatic negotiations for past presidents. From the start of his administration, Biden has sought to draw Asian allies like Japan and South Korea closer, in part, to counter an ascendant China. Biden’s first foreign leader visits at the White House were Japan and South Korea, and he visited the countries back-to-back in May 2022. Biden has worked to foster his individual relationships and cooperation with South Korea and Japan.

Persons: Joe Biden, David, Fumio Kishida, Yoon Suk, Biden, ”, Camp David, Yoon, ” Rahm Emanuel, Biden’s, Jake Sullivan, Kishida, “, ” Biden, serenaded, Don McLean, Yoon’s, Yoon Ki Jung, Franklin D, Roosevelt, Dwight D, Eisenhower, Winston Churchill, Jimmy Carter’s, Bill Clinton, Ehud Barak, Yasser Arafat, Barack Obama, Donald Trump Organizations: CNN, Japanese, South, Camp, Japan, Brookings Institution, ”, White, NATO, Korean, US, White House, South Korean, British, Camp David Accords, Israeli Locations: Japan, South Korea, North Korea, China, Catoctin, Maryland, Seoul, Tokyo, Korea, Korean, Pyongyang, Beijing, Madrid, Hiroshima, Annapolis , Maryland, Ukraine, Washington, Delaware, Israel, Egypt

☆ Warren Buffett's Berkshire Hathaway makes interesting bet on these homebuilders
▼ + stars: | 2023-08-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway bought shares of a few homebuilders in the last quarter, a new regulatory filing revealed. Horton shares, $70 million worth of NVR shares as well as $17.2 million worth of Lennar in the second quarter, the filing showed. These stakes are relatively small for Berkshire, whose equity portfolio is worth nearly $350 billion. Top holdings Berkshire shares just hit a record high last week on the back of strong second-quarter results. Also during the second quarter, Berkshire added to its relatively new stake in Capital One Financial , bringing it to nearly $1.4 billion.

Persons: Warren, Berkshire Hathaway, Horton, Todd Combs, Ted Weschler, Benjamin Moore Organizations: Berkshire, Clayton Homes, Apple, American Express, Bank of America, Capital, General Motors, Chevrolet, GMC Locations: Omaha, Berkshire, McLean , Virginia

☆ Don’t be ‘complacent’ about volatility, warns advisor, even if there's a soft landing for the economy
▼ + stars: | 2023-08-14 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

watch nowAfter more than a year of recession predictions, some experts have backed off past forecasts and now embrace what's known as a "soft landing" for the economy. Even so, one financial advisor is stressing the importance of preparing for future stock market volatility. While a soft landing may be good news for investors, there's a risk of becoming "a bit complacent" about market volatility, said Glassman, who is also a member of CNBC's Financial Advisor Council. Glassman said a lot of people are wondering how to shift their investments given the "rosy scenario" of a soft landing. 'Investors are finally getting paid to wait'While future volatility is possible, the current economic environment offers a silver lining for investors.

Persons: Barry Glassman, Glassman, it's, We're Organizations: Wealth, CNBC's, Federal Reserve Locations: McLean , Virginia

☆ Yellen says the U.S. economy is on track for stable growth thanks to Inflation Reduction Act boost
▼ + stars: | 2023-08-14 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

US Treasury Secretary Janet Yellen attends an event on the Inflation Reduction Act after visiting the site of a new paperless processing initiative in McLean, Virginia, on August 2, 2023. WASHINGTON — Treasury Secretary Janet Yellen on Monday said the Inflation Reduction Act, the 2022 law that spurred major investments in infrastructure, manufacturing and climate goals, has propelled the U.S. economic recovery. "Over the past year, our task has been to transition the economy from rapid recovery to stable growth," Yellen said. "Our path so far shows that we are on the right track, even as we remain vigilant about potential challenges and uncertainties." The term emerged on the political landscape in the past year, first used by Republicans to describe high inflation and the interest rate hikes that were meant to cure it.

Persons: Janet Yellen, Yellen, Joe Biden, Joe, Barack Obama Organizations: WASHINGTON —, Treasury, Brotherhood of Electrical Workers, Training, Infrastructure Law, IRA, GOP Locations: McLean , Virginia, Las Vegas

☆ Here are ways to adjust your portfolio as some experts predict a soft landing for the economy
▼ + stars: | 2023-08-10 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Morsa Images | E+ | Getty ImagesSome experts have reversed recession predictions and embraced a soft landing for the economy as the Federal Reserve continues to fight inflation. Increase bond allocations before interest rate cutsAs the Federal Reserve weighs an end to its rate-hiking cycle, some advisors are adjusting their clients' bond allocations. With expectations of future interest rate cuts, Atlanta-based CFP Ted Jenkin, founder of oXYGen Financial, has started shifting more money into bonds. watch nowTypically, market interest rates and bond values move in opposite directions. Consider extending bond durationWhen building a bond portfolio, advisors also consider so-called duration, which measures a bond's sensitivity to interest rate changes.

Persons: Barry Glassman, Glassman, Ted Jenkin, Jenkin, Douglas Boneparth Organizations: Federal Reserve, Wealth, CNBC's, CNBC's FA, Bone Locations: McLean , Virginia, Atlanta, CNBC's, New York

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