Treasury
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Banking turmoil may trigger recession: Fannie Mae
Small- and mid-size banks will likely tighten credit in the coming months, increasing the odds of a downturn this year, economists said.
By Jim Tyson • March 24, 2023 -
Fed hikes main rate by quarter-point, notes ‘resilient’ banking system
The central bank tightened borrowing costs despite banking instability as inflation persists well above its 2% target.
By Jim Tyson • March 22, 2023 -
Explore the Trendline➔
Mark Wilson via Getty ImagesTrendlineGiving your working capital plan a fresh look
The return to more normal operations as the pandemic eases is a good time to take a fresh look at your current expenses and liabilities and whether your working-capital ratio is right for your organization.
By CFO Dive staff -
Fed likely to hike main rate despite banking turmoil: economists
Banks will likely reduce lending in coming months, complementing Fed efforts to cool the economy while increasing the risk of recession, economists said.
By Jim Tyson • March 21, 2023 -
IRS misses deadline for upgrading business transcript system
The IRS has faltered as it shifts business tax transcript requests from a paper to an online system, according to the agency’s inspector general.
By Jim Tyson • March 20, 2023 -
FASB kicks off comment period on income-tax updates
While previous FASB efforts to update accounting standards for taxes have fizzled, Chair Richard Jones has said tweaks to the project’s scope have made it achievable.
By Maura Webber Sadovi • March 15, 2023 -
Core inflation rises, challenging Fed amid banking instability
Even as high inflation persists, the failure of Silicon Valley Bank and Signature Bank has undercut expectations that the Fed will step up the pace of monetary tightening.
By Jim Tyson • March 14, 2023 -
Biden support for depositors may not brighten credit outlook
The high-profile failures of Silicon Valley Bank and Signature to hedge against interest rate risk may lead to a period of tighter credit, economists and financial advisers said.
By Jim Tyson • March 13, 2023 -
Wary CFOs get new COVID tax credit warning
The latest IRS warning comes as some CFOs are already hesitant about looking into whether their firm is legitimately eligible for the CARES Act tax credit.
By Maura Webber Sadovi • March 9, 2023 -
Powell testimony fuels expectations of half-point Fed rate hike
Fed Chair Jerome Powell told a House committee Wednesday that the central bank is concerned about persistent price pressures and is determined to reduce inflation to its 2% target.
By Jim Tyson • March 8, 2023 -
Powell says Fed may hike rates more than forecast
Fed Chair Jerome Powell told a Senate committee that reducing inflation to the central bank’s 2% target may not lead to widespread layoffs.
By Jim Tyson • March 7, 2023 -
IRS Commissioner-nominee pledges to uncover corporate taxes owed
Billions of dollars in new funding for the IRS will not go toward increasing the audit rate for businesses and taxpayers that make less than $400,000 per year, Daniel Werfel said.
By Jim Tyson • March 1, 2023 -
Consumer confidence sags on outlook for economy, wages
Although emboldened in January by a hot job market, U.S. households may begin to trim spending amid rising prices and borrowing costs, the Conference Board said.
By Jim Tyson • Feb. 28, 2023 -
Economists push back estimated recession date: NABE
Data on the housing market, employment, manufacturing and other measures of economic performance challenge predictions of imminent recession.
By Jim Tyson • Feb. 27, 2023 -
3 currency hedging lessons learned
The U.S. dollar has eased off a two-decade high hit in September. U.S. Bank’s Paula Comings is still advising companies to revisit their hedging policies.
By Maura Webber Sadovi • Feb. 23, 2023 -
Fed officials leaned toward more tightening, minutes show
Policymakers on Feb. 1 favored more increases in the main interest rate. Since then data has indicated that inflation remains higher than anticipated.
By Jim Tyson • Feb. 22, 2023 -
CEOs expect recession but pessimism eases from Q4
The Conference Board found in a survey that the outlook among CEOs has brightened compared with the final three months of last year.
By Jim Tyson • Feb. 17, 2023 -
Rapid inflation persists as Fed officials favor higher rates
Federal Reserve policymakers have recently voiced particular concern for persistently high gains in prices for services excluding housing.
By Jim Tyson • Feb. 14, 2023 -
CPAs urge lawmakers to enact ‘fairer’ tax code
The AICPA recommends changes to the tax code as Republicans intensify opposition to the Biden administration’s signature tax policy initiatives.
By Jim Tyson • Feb. 13, 2023 -
Inflation erodes US company growth, return on capital: McKinsey
When facing persistent price pressure, companies need to focus more on sustaining gains in profit margins and return on capital, McKinsey said.
By Jim Tyson • Feb. 8, 2023 -
Fed’s Powell sees ‘significant road ahead’ to curb inflation
Fed policymakers will probably push up borrowing costs at coming meetings even though some measures of inflation have eased somewhat, Powell said.
By Jim Tyson • Feb. 7, 2023 -
Fed slows tightening pace but signals more rate hikes to come
Fed Chair Jerome Powell predicted that the U.S. will avoid recession in 2023 while saying the Fed should lean toward tightening too much rather than too little.
By Jim Tyson • Feb. 1, 2023 -
Wage growth slows, blunting threat of wage-price spiral
Federal Reserve policymakers say that a steady decline in wage growth is essential for a sustained easing of inflation.
By Jim Tyson • Jan. 31, 2023 -
Accountants may underestimate impact of Fed tightening: survey
“Further monetary tightening appears inevitable,” the ACCA and IMA said as the Federal Reserve prepared for a two-day policy meeting beginning Tuesday.
By Jim Tyson • Jan. 30, 2023 -
Several states cut corporate tax rates for 2023
Many states are competing for businesses by reducing corporate tax rates as of Jan. 1, the Tax Foundation said.
By Jim Tyson • Jan. 25, 2023 -
Working from home boosts working time: NBER paper
The number of U.S. employees who work remotely has more than tripled during the pandemic. Workers who forgo a commute spend more time at work, researchers said.
By Jim Tyson • Jan. 24, 2023