Federal Reserve officials expressed concerns about inflation and the labor market during their most recent policy meeting, although they ultimately opted to keep interest rates unchanged, according to minutes from the gathering. "Participants generally pointed to risks to both sides of the Committee's dual mandate, emphasizing upside risk to inflation and downside risk to employment," the minutes show. Two officials dissented from the decision to leave rates unchanged.

Twenty-two percent of respondents to a Bankrate survey indicate that their chief financial regret is failing to begin saving for retirement earlier in life. Other regrets involved taking on too much credit card debt or failing to prepare for emergencies.

Economists have suggested several ways for the Bureau of Labor Statistics to improve data collection, including paying survey respondents, using IRS records and leveraging AI.

Attorney James O'Neill discusses Qualified Small Business Stock in financial and estate planning contexts, as well as the impact of the tax and spending law that was recently signed by President Donald Trump. "The changes to Section 1202 of the Code in the July 4, 2025, OBBBA tax legislation make QSBS stock even more favorable and usable in the context of estate planning," O'Neill writes.

In a recent case, the Tax Court ruled against an estate, finding that a portability election was invalid because the executor failed to file a complete and timely return. Attorneys David Handler and Alison Lothes discuss the case and its circumstances.

The DETECT Act in the House would have the Government Accountability Office to put together a report on the potential use of AI to help the IRS. In particular, Rep. Vern Buchanan of Florida noted that the legislation would seek to use AI "to strengthen fraud detection, cut waste and ensure the IRS can conduct efficient, thorough investigations to protect American taxpayer dollars."

Firms can use a holistic approach to engage the next generation of financial talent, ensuring that everyone feels invested and prioritizing health and wellness, writes Natalie Straub of Coldstream.

The recently passed tax and spending law expanded eligible expenses for 529 education savings plans. However, a Vanguard survey shows that only 10% of parents use 529 plans, with most preferring traditional savings accounts.