Latest News
Real Middle Class Wages as of March 2025
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This series has been updated to include the March release of the consumer price index as the deflator and the monthly employment update. The latest hypothetical real (inflation-adjusted) annual earnings are at $52,322, down 5.9% from over 50 years ago.
Fed Leans Against Inflation and Away From Preemptive Rate Cuts
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Federal Reserve officials are prepared to hold their policy rate steady to minimize the risk that President Donald Trump’s tariffs trigger a persistent rise in inflation, even if the labor market softens further.
March 2025’s Most-Read Articles Offer Something for Everyone
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The month of March featured a varied mix of articles among Advisor Perspectives’ top 10 most-read list, including book reviews, analysis of current events and primers on different subjects among its ranks.
Inside the Consumer Price Index: March 2025
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Inflation affects everything from grocery bills to rent, making the Consumer Price Index (CPI) one of the most closely watched economic indicators. The Bureau of Labor Statistics (BLS) tracks this by categorizing spending into eight categories, each weighted by its relative importance.
Consumer Price Index: Inflation Cools to 2.4% in March
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Inflation cooled for a second straight month in March, falling to its lowest level in over four years. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index was at 2.4% year-over-year, lower than the expected 2.5% growth.
Unemployment Claims Up 4K, Consistent with Expectations
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In the week ending April 5th, initial jobless claims were at a seasonally adjusted level of 2223,000. This represents an increase of 4,000 from the previous week's figure. The latest reading was consistent with the forecast.
Q1 2025 Baird Chautauqua Global Outlook
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Markets were jolted last week after President Trump announced sweeping tariffs, including steep increases on China, Japan, and the EU, leading to a 10.5% drop in the S&P 500 over two days—an event seen only during major crises in the past 75 years.
Aligning for Success: From Conflict to Consensus
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The fifth edition of our annual “Voice of the American Workplace” survey, conducted by The Harris Poll on behalf of Franklin Templeton, includes the perspectives of both employers and workers. The 2025 survey found US workers are prioritizing work-life balance and their mental health. Employers are listening and strengthening their focus on improving benefits and communication. In this piece, our Jacque Reardon shares findings from the survey and potential implications for employers.
The Stock Market Warning Of A Recession?
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A Wall Street axiom states that the stock markets lead the economy by about six months. While not a perfect predictor, the stock market reacts to investor expectations about future corporate earnings, economic activity, interest rates, and inflation.
Market Valuation: Is The Market Still Overvalued? (March 2025)
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Market valuation indicators are used by investors and analysts to gauge whether markets are overvalued, undervalued, or fairly valued relative to historical norms. Here is a summary of the four market valuation indicators we update monthly.
An Advisor Road Map to the Corporate Trustee Industry
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This article provides information on the history and more recent developments of trust law and the corporate trustee industry. This information will help advisors to make informed decisions on clients’ generational planning choices, and to attract and retain assets.
Why Your Marketing Feels Scattered … and How to Fix It
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When you define your “who” and “how,” marketing stops feeling random and starts feeling strategic. Instead of trying to be everywhere, you’ll focus on what actually works — showing up in the right places with the right message for the right people.
When the News You Must Deliver Is Unwelcome
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Many people who are not interested in seeing anything about their own behavior that is causing a problem. They either have over-developed egos, or a lack of confidence so deep it is threatening to find an area of opportunity for change.
Long-Term Employment Trends by Age and Gender: March 2025
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The labor force participation rate (LFPR) is a simple computation: You take the civilian labor force (people aged 16 and over employed or seeking employment) and divide it by the civilian non-institutional population (those 16 and over not in the military and or committed to an institution). As of March, the labor force participation rate is at 62.5%, up from 62.4% the previous month.
DoubleLine's Take on the Reciprocal Tariffs
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DoubleLine Global Bond Portfolio Manager Bill Campbell shares DoubleLine’s outlook for risk markets, the U.S. Treasury curve, inflation, growth and Federal Reserve policy in light of Washington’s reciprocal tariffs and reactions of U.S. trade partners.
Bessent Sees ‘Normal Deleveraging’ in Bonds, Warns China on Yuan
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Treasury Secretary Scott Bessent played down a selloff in US Treasuries, saying that there was nothing systemic at play, and also served warning against China not to attempt to devalue its exchange rate in retaliation for American tariff hikes.
Tariffs or Not, Health Care Is Where the Jobs Are
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Last week’s employment report offered what may be the last clear picture of the US job market before President Donald Trump’s tariff shock. Overall, it looked pretty healthy, with a 4.2% unemployment rate, 80.4% of the prime-age population employed and 1.9 million nonfarm payroll jobs added over the past 12 months.
Shadow Banks Are Too Big to Stay in the Shadows
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When it’s finally completed seven years from now, Citadel LLC’s New York tower will be the second tallest building in the city, after the World Trade Center. It will also loom over the headquarters of JPMorgan Chase & Co. just a few hundred yards south along Park Avenue.
Carry Trade Destruction
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Lost in the focus on the bludgeoning that tariff policy has had on equity markets, is the impact on global currencies. From the end of February through April 3rd, the U.S. Dollar is down 5.1% relative to other developed market currencies (DXY). In addition, we’ve also seen a violent unwinding of the popular currency carry trade.
Trade Policy Shifts Put the Fed in a Challenging Position
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Tariff Turbulence. The President’s long-anticipated tariff announcement on April 2 has come and gone. Our hopes for some clarity, so the uncertainty weighing on confidence and the equity market could subside, were dashed after we heard the breadth and magnitude of the administration’s tariff plan.
The World According to Karp
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The book’s title derives from the author’s criticism of young, self-absorbed Silicon Valley types unconcerned by the public good — the “hollow republic” — as opposed to those focused on the commonwealth, the “technological republic.”
U.S. Workforce Recovery Analysis: March 2025
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Our monthly workforce recovery analysis has been updated to include the latest employment report for March. The unemployment rate inched up to 4.2%. Additionally, the number of new non-farm jobs (a relatively volatile number subject to extensive revisions) came in at 228,000.
The Jazz of Money: Improvising Past Financial Sour Notes
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Even the best financial plans sometimes hit an unexpected sour note: an investment seemingly doesn’t work out, an emergency expense appears to throw off a budget, or an impulsive splurge leaves us with a case of buyer’s remorse. When this happens, we need to improvise as we respond to the financial twists and turns.
Apple’s Historic Selloff Has Bulls Balking From Tariff Risks
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A sharp selloff in shares of Apple Inc. illustrates investor skepticism about its ability to navigate President Donald Trump’s tariffs on China, Vietnam and India — countries all critical to the iPhone maker’s supply chain.