President Trump said this morning there will be "no change" for 401(k) plans as his administration and Congress push a tax-policy overhaul. Trump said in a tweet "This has always been a great and popular middle class tax break that works, and it stays!" . On Friday, The Wall Street Journal reported there are proposals to cap pre-tax contributions to 401(k) plans. An often-mentioned amount is $2,400 a year.
The Chicago Fed’s index of national economic activity recovered to positive 0.17 in September from a downwardly revised negative 0.37 in August. The index has been volatile over the past few months but the index’s three-month moving average was unchanged at negative 0.16 in September. The Chicago Fed index is a weighted average of 85 economic indicators, designed so that zero represents trend growth and a three-month average below negative 0.70 suggests a recession has begun. Production was a positive, and so was the job-market but it had only a small upward move.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
