Beige Book | August 2024

IRS adjusts HSA amounts for 2025 - The Internal Revenue Service issued the annual inflation adjustments for health savings accounts in 2025 as prices continue to rise, albeit at a slower pace.

Every year since 1963, U.S. presidents have issued a Small Business Week proclamation to recognize the contributions of entrepreneurs and small business owners. The theme of Small Business Week 2024, “Building on the Small Business Boom.”

Inflation was hotter than expected last month and remains well above the Federal Reserve’s 2% target, according to government data released Friday, as eagerly awaited interest rate cuts seem to be increasingly less likely in the future.

JPMorgan Chase CEO Jamie Dimon warned of the potential for interest rates to climb as high as 8% as the effects of the unprecedented monetary policy to combat inflation take hold.

President Joe Biden’s budget proposal — which calls for sweeping tax increases on corporations and the wealthy — is the opening round of a looming tax fight set to consume Washington next year.