Business Update – November 15, 2023

11/13/2023 | Your_CFO

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Businesses take stock of the U.S. economy and see reason to be cautious

The level of inventories, or unsold goods, that U.S. wholesalers are keeping on hand fell in September to a 13-month low amid uncertainty about whether the economy can maintain its recent momentum.

The US economy may be reliving the ‘roaring ’20s’ – and that means growth, inflation, and rates will all stay high, UBS says

The economy’s surprising resilience this year could set the stage for a new “roaring ’20s” decade of growth, according to UBS.

Rising delinquencies offer economic warning signs

According to the New York Fed’s Q3 Household Debt and Credit (HHDC) report, the share of debt newly transitioning into delinquency continues to rise for mortgages, auto loans, and credit cards.

US, China need ‘healthy economic relations’, Yellen says

United States Treasury Secretary Janet Yellen has stressed the need for “healthy economic relations” between China and the US, while pressing Beijing to crack down on Chinese firms assisting Russia’s war in Ukraine.

10-year Treasury yield falls as investors consider state of U.S. economy

U.S. Treasury yields fell as investors assessed the outlook for the economy and monetary policy as they awaited economic data and comments from Federal Reserve officials.

Federal Reserve ‘won’t hesitate’ to raise rates again if necessary, Powell says

The Federal Reserve is far from certain that its war on inflation is over and is willing to hike interest rates past their current 22-year high if necessary, the central bank’s chairman Jerome Powell said.

IRS reveals newly revised retirement contribution limits for 2024

Contribution limits for retirement plans like 401(k) and Individual Retirement Account (IRA) have been raised by $500 for the next year, according to a recent update by the Internal Revenue Service (IRS).

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