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Business Update – 6 Sept 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Surprisingly durable US economy poses key question: Are we facing higher-for-longer interest rates?

One after another, economists have postponed or reversed their earlier forecasts for a U.S. recession. Optimism that the Fed will pull off a difficult “soft landing” — in which it would manage to reduce inflation to its 2% target without causing a steep recession — has risen. Nearly seven in 10 economists polled by the National Association for Business Economics say they’re at least somewhat confident that the Fed will achieve a soft landing, according to the NABE’s latest survey.

What China’s economic woes may mean for the U.S.

The news about China’s economy over the past few weeks has been daunting, to put it mildly. The fallout is probably limited — and there may be some upside for American interests.

IRS interest rates increasing in Q4

The Internal Revenue Service announced that interest rates will increase for the calendar quarter beginning Oct.1, 2023.

How high tensions between China and the U.S. are impacting American companies

Tensions between China and the U.S. are running high — and that’s leaving American companies having to carefully navigate their approach to a key player in the global economy. The uncertainty U.S. businesses are facing is getting increased attention as Commerce Secretary Gina Raimondo is set to become the latest senior official to visit Asia’s largest economy.

Consumer advisory: Take action when home insurance is cancelled or costs surge

A notice from your insurer dropping your home insurance policy can feel like your largest investment is at risk. Unexpected jumps in the cost of your coverage can put a strain on your budget. And, problems with getting the right amount and type of insurance can make your home more difficult to sell. Changes in the insurance business across the country are making these problems more common for homeowners, and the Consumer Financial Protection Bureau offers this advice.

Long-run business projections easier than they seem

Economist Bill Conerly outlines three fundamental principles of forecasting can help any business analyst produce valuable long-term projections.

Visa, Mastercard stocks hit all-time highs amid reported plans to up merchant fees

Visa and Mastercard shares rose to their highest respective prices ever Wednesday after the Wall Street Journal reported the credit card giants could soon increase merchant fees, but some analysts warn the change could further encourage businesses to push alternative payment methods.

DoorDash’s voice ordering service could have AI take your carryout order

DoorDash is launching a new answering service for restaurants that could put you on the phone with AI when ordering takeout or delivery. With the new service, restaurants can have AI field phone calls and take orders from customers, with live agents available “to support customers at any time.”

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