A majority of economists say a significant increase in US core consumer prices last month is unlikely to keep the Federal Reserve from reducing interest rates next week, but it could make further cuts before year-end less likely, a Reuters survey finds. "The Fed will still cut rates next week to provide added insurance in the event that the trade war escalates, but it might think twice about moving again in October if core inflation shows any further spark," BMO Capital Markets economist Sal Guatieri says.
The US Treasury Department is considering issuing a 50-year bond in 2020 to capitalize on low interest rates and to offset fast-rising borrowing costs, Secretary Steven Mnuchin says. Bonds with maturity of more than 30 years were evaluated, then abandoned, by the Treasury in 2017, but Mnuchin says there is demand for them.
Advisors can create a "five-star experience" for clients with small, inexpensive touches, says Susan Kay, director of business development at MFS Fund Distributors. Her recommendations include personalized postage stamps, takeout boxes of candy and hosting events such as a wine tasting.
Assets in US index-based equity mutual funds and exchange-traded funds exceeded assets in active stock funds for the first time in August, after years of growth for passive investment. The shift represents a milestone for the financial industry.
Scammers are having success targeting older Americans, with the Consumer Financial Protection Bureau reporting that people over 70 caught in a scam lose an average of $41,800. Popular scams focus on Social Security, employment searches, pets and grandchildren, experts say.
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