The Federal Reserve’s modern statutory mandate, as described in the 1977 amendment to the Federal Reserve Act, is to promote maximum employment and stable prices. These goals are commonly referred to as the dual mandate. High levels of employment are key to a vibrant economy. Maximum employment promotes business investment, thus boosting productivity and the economy’s Read more
Bowen Reports
How To Discuss a Prenup Before Saying ‘I Do’
When planning a wedding (and a marriage), it’s wise to include a discussion of a prenuptial agreement, also known as a “prenup.” Though a prenup may seem unromantic or a matter more suited to celebrity gossip news, under the law a marriage is considered to be a binding contract between the betrothed couple, and with Read more
A Shear Guessing Game: Will the Fed Cut Rates?
The Federal Reserve’s battle against inflation had gone better than expected until it recently got bogged down. Thus, the effort to combat inflation can’t be called a victory just yet. Though the initial predictions for Fed rate cuts for 2024 ranged from three to six, expectations have shifted dramatically with the market now pricing in Read more
How Inflation is Measured
Inflation has been much in the news during the last few years, with notice of whether the rate is up or down a staple of reports. Inflation is the rate of increase in prices over a given period of time. (Historically, prices have rarely decreased; one example of such deflation would be the Great Depression Read more
Raise the Roof: The Housing Market Challenges
Spring home-buying season is here. Amid historically low housing stock, a combination of still-high mortgage rates and home prices continues to put homeownership out of reach for many—especially first-time buyers. Owning a home has many virtues. It creates stability for a family, supports longer-lasting connections in a community, and is a store of wealth for Read more
What Does That Mean? The Most-Often Searched Financial Terms and Acronyms
The terms and acronyms of finance can be perplexing, and it’s easy to become confused. Financial terminology can sometimes seem like an effort to use the most syllables or the longest string of letters possible to describe something. But it’s important to know what these terms mean when making your way through personal and business Read more