Insights

Fuel oil prices reaching a tipping point

Fuel oil prices reaching a tipping point

American households are consuming less gasoline compared to this time last year as fuel costs continue their relentless rise.
U.S. employment report for June indicates no recession now

U.S. employment report for June indicates no recession now

An American economy in free fall does not tend to produce 372,000 jobs in any given month, as the June employment report showed on Friday. The data released by...
GASB revises requirements for accounting changes and error corrections

GASB revises requirements for accounting changes and error corrections

The Governmental Accounting Standards Board (GASB) has released Statement No. 100, Accounting Changes and Error Corrections (Statement 100), which amends GASB Statement No 62.
GASB revises requirements for compensated absences

GASB revises requirements for compensated absences

The Governmental Accounting Standards Board has released Statement No. 101, Compensated Absences, replacing GASB Statement No. 16, Accounting for Compensated Absences.
Cybersecurity governance and the board’s role

Cybersecurity governance and the board’s role

The SEC has proposed amendments to its cybersecurity rules for private companies. If enacted, some boards may require cultural and structural changes to address governance gaps.
The economic slowdown and hospitality

The economic slowdown and hospitality

Inflation is hitting the hospitality industry harder than the broader economy.
The American housing deficit and what it takes to close it

The American housing deficit and what it takes to close it

Over the past 15 years, the United States has not built enough houses to keep up with growing demand. The problem intensified during the pandemic as demand skyrocketed because of the shift to working from home and historically low mortgage rates encouraged this move.
Chart of the day: Industrial production hits a record amid signs of a slowdown

Chart of the day: Industrial production hits a record amid signs of a slowdown

Industrial production in the United States hit a record in May, but signs of a coming economic slowdown emerged in the report released by the Federal Reserve on…
Changes in Fed policy and their impact on the economy

Changes in Fed policy and their impact on the economy

The Federal Reserve's changes to short-term interest rates will affect the stock of money, which directly determines the direction of the real economy.
Initial jobless claims exceed pre-pandemic level for second straight week

Initial jobless claims exceed pre-pandemic level for second straight week

There were 229,000 new jobless claims for the week ending June 11, down slightly from an upwardly revised 232,000 in the prior week.
U.S. retail sales fall as inflation takes a toll

U.S. retail sales fall as inflation takes a toll

Retail sales dropped by 0.3% in May, a decline from a downwardly revised 0.7% increase in April, the U.S. Census Bureau reported on Wednesday.
Fed announces largest rate hike in nearly three decades as it seeks to restore price stability

Fed announces largest rate hike in nearly three decades as it seeks to restore price stability

The Federal Reserve lifted its federal funds policy rate to a range between 1.5% and 1.75% on Wednesday as it moves to restore price stability over the medium term.
RSM submits comments to IRS regarding ‘friendly doctor’ transactions

RSM submits comments to IRS regarding ‘friendly doctor’ transactions

Friendly doctor transactions that shift beneficial ownership in a practice entity to a management company often cause the management company to be the practice entity’s owner for federal tax purposes.
Chart of the day: U.S. producer inflation remained elevated

Chart of the day: U.S. producer inflation remained elevated

The report adds pressure on the Federal Reserve, which is considering more aggressive measures to tame inflation.
Chart of the day: Consumer sentiment drops to record low

Chart of the day: Consumer sentiment drops to record low

The headline consumer sentiment index from the University of Michigan dropped to 50.2, the lowest on record.