Federal Reserve Chair Janet Yellen said she will leave the central bank's board of governors as soon as her presumed successor, Jerome Powell, is sworn in. Her departure will give President Donald Trump a fourth vacancy to fill on the seven-member board.
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The US Court of Appeals for the District of Columbia Circuit has delayed oral arguments in a lawsuit brought by the National Association for Fixed Annuities challenging the Labor Department's fiduciary rule. The court granted the postponement to wait for a decision by the US Court of Appeals for the 5th Circuit on another case related to the fiduciary rule.
Most companies are unprepared for the EU's General Data Protection Regulation, despite the risk of heavy fines for noncompliance, a survey indicates. Regulators say the protections are "the most important change in data privacy regulation in 20 years."
The Senate tax bill includes a provision that would require individual investors to sell their oldest stock in a given name first. Although proponents say it would help simplify the tax code, the first-in-first-out provision could cost investors more than $2 billion in additional capital gains taxes over the next 10 years.
Efforts to renegotiate the North American Free Trade Agreement are likely to reach a stalemate as the fifth round of talks ends today. Mexico and Canada have refused to bend to US pressure to increase the minimum threshold for NAFTA autos from 62.5% to 85% and to require that half of the content come from the US, a demand even US automakers have questioned.
Roth individual retirement accounts can offer advantages, particularly in tax savings, but they have not been adopted as widely as might have been expected since their inception 20 years ago, retirement planning expert Ed Slott writes. He discusses the possible reasons for this and details the benefits of Roth IRAs.
Advisers are offering suggestions and strategies to help people who want to gain enough financial independence to retire early. Diligently saving throughout one's working life is clearly important, but estimating how long funds will need to last and investing them wisely will also help achieve that goal.
Goldman Sachs, JPMorgan Chase and other banks have completed a test using blockchain to track equity-swaps contracts after execution. "We know the thing works now," said Greg Schvey, CEO of Axoni, which managed the program.
Repealing the legal requirement that most Americans buy health insurance might not generate the savings Republicans want to offset tax cuts. Only 7% of Americans who purchase insurance from the individual market will skip coverage if the mandate is eliminated, according to a survey by the Kaiser Family Foundation.