About two years ago, March 2022 to be exact, the Federal Reserve led by its chief, Jerome Powell embarked on the fastest interest rate increase in history based on a percentage basis. For the holiday seasons or holiday cheers, the Federal Reserve still led by its chief, Jerome Powell, startled Wall Street, Main Street, and anyone listening to their comments, by a change in direction.
The Federal Reserve and its chief Jerome Powell Pivot
In the middle of December 2023 at a regularly scheduled and somewhat unassuming meeting, the Federal Reserve release their dot plot which is each representative ‘s estimate of where interest rates will be in the future. Much to everyone’s surprise they suddenly expect three interest rate cuts in 2024/this year.
You may be asking what’s the big deal?
Interest rates and the dramatic increase are a direct brake on the economy through higher costs of capital in the veins of the economic system. Higher rates are the main brake pedal and lower rates the accelerator. This announcement was cheered by market participants. As mentioned in our Q 1 2024 Newsletter, there’s a lot of work to be done in the economy to prove that the aforementioned brake/increase in rates filtered through the economy without harm. The good news is it appears the Federal Reserve is content at least at this time with no further pedal pushing!
Tax laws, Changes Updates
Turning back once again to our Q1 2024 Newsletter; There is an extremely comprehensive summary of the current year tax laws and levels. We have highlighted the most common as the totality of our legend is a bit daunting, but focusing on the highlights should cover well over 99% of all situations.
A Political Year
Seems like only yesterday the birthday cake would roll around seemingly only once a decade. Fast forward to today sometimes it appears that birthday cake is coming quarterly. So too are the every major four year elections. Later this year the US will once again have a presidential election. As a heads up, there may be many interesting headlines involved with the campaigning and election season. In a world of it’s never as good as we think and never as bad as we think, keeping our collective minds centered is always a good idea, but many times easier said than done.
Thank you for your time, we look forward to a fantastic start to a new year and look forward to getting through tax season together!
This is also the time we attach our Private Policy Statement for the year, along with our opportunity to offer our latest ADV filings and Client Relationship Summary (Form CRS); Requests for review will be accepted via phone, mail or email, and mailed immediately upon request.
J.K. Financial, Inc.
PRIVACY POLICY NOTICE
Our Promise to You
As a client of J.K. Financial, Inc., you share both personal and financial information with us. Your privacy is important to us, and we are dedicated to safeguarding your personal and financial information.
Information Provided by Clients
In the normal course of doing business, we typically obtain the following non-public personal information about our clients:
- Personal information regarding our clients’ identity such as name, address and social security number;
- Information regarding securities transactions effected by us; and
- Client financial information such as net-worth, assets, income, bank account information and account balances.
How We Manage and Protect Your Personal Information
We do not sell information about current or former clients to third parties, nor is it our practice to disclose such information to third parties unless requested to do so by a client or client representative or, if necessary, in order to process a transaction, service an account or as permitted by law
In order to protect your personal information, we maintain physical, electronic and procedural safeguards to protect your personal information. Our Privacy Policy restricts the use of client information and requires that it be held in strict confidence.
Client Notifications
We are required by law to annually provide a notice describing our privacy policy. In addition, we will inform you promptly if there are changes to our policy.
Please do not hesitate to contact us with questions about this notice.
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
