Will tariff increases drop global trade back to 2008 crisis levels?The World Bank just issued a Global Economic Prospects report that forecasts the far-reaching effects of a looming trade war. While many in the U.S. are celebrating the strong jobs market, it raises questions about its impact on the economy. Liz Ann Sonders of Schwab advises investors on how to react to the rising interest rates that may come later this year. You can count on your tax deductions to be affected by the new tax law. Kelly Phillips Erb highlights eight changes to your Schedule A form.
Tariff Increases Could Bring Us Back To 2008 Crisis Levels, World Bank Warns– A ramp-up in the pace and scope of tariffs could set the world back to 2008 in terms of global trade levels, the World Bank has warned. In its latest Global Economic Prospects report, published Tuesday, the multinational finance organization had a grim forecast for both emerging and developed markets in the event that the commercial disputes underway between major economies intensify. Read more…
What Does The Strong Jobs Market Mean For Inflation?- The jobs market isn’t just making headlines. It’s making history. The recently released employment report for May marked the 92nd straight month of payrolls growth—the longest stretch in the history of the data. Now at 3.8%, the unemployment rate hasn’t been this low since 2000. But the jobs report is about more than just the headline number. The strength of the labor market raises some questions about inflation and interest rates that could have implications for the market later in the year. Read more...
What Your Itemized Deductions On Schedule A Will Look Like After Tax Reform– With all of the focus on new tax rates after Congress green-lighted tax reform, it’s easy to forget that some of the biggest changes don’t have anything to do with tax rates: They’re about deductions. Here’s how Schedule A will be affected for the 2018 tax year following tax reform. Read more…
John R. Day, Bill Ennis, Stephanie Hall and Matt Heller