A Financial And Tax Planning Strategy For This Week's Stock Market Plunge

Published Friday, September 23, 2022 at: 8:06 PM EDT

Here’s an update on this week’s financial economic news, informed by financial and tax planning and a perspective suited to investors seeking to build a retirement income portfolio or building a legacy for the next generation. 

The U.S. Index of Leading Economic Indicators (LEI) declined for the sixth consecutive month, and economists at The Conference Board, who compile the data on the 10 indexes that comprise the LEI every month, for the first time in about 15 years projected a recession in the coming quarters. The Board of Governors of the Federal Reserve System voted unanimously Thursday to approve a three-quarter of 1% increase in the rate at which it lends money to the nation’s largest banks to 3.25%.  The Fed funds rate hike was widely expected, but the Standard & Poor’s 500 declined nonetheless as the bear market plunge sent some investors to the sidelines.

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This article was written by a professional financial journalist for Advisor Products and is not intended as legal or investment advice.

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