ECONOMIC CALENDAR:Tuesday: Treasury Budget Wednesday: Import and Export Prices, EIA Petroleum Status Report Thursday: Jobless Claims, PPI-FD, Retail Sales, Philadelphia Fed Business Outlook Survey, Empire State Manufacturing Survey, Industrial Production, Business Inventories Friday: Consumer Price Index, Consumer Sentiment, Treasury International Capital
- Fed Beige Book shows wage gains restricted to skilled workers. A key report released by the Federal Reserve showed that the economy grew modestly in July and August. However, data shows that most wage gains occurred only in skilled jobs where employers are struggling to find qualified workers.
- Weekly jobless claims drop. The number of Americans filing new claims for unemployment benefits fell unexpectedly last week, marking the 79th straight week that claims remained below the key 300,000 level associated with a healthy labor market.
- Monthly job openings increased in July. The number of available jobs, a data point closely watched by Federal Reserve economists, increased by 3.9% In addition, the hiring rate rose by 3.6%, pointing to a strong labor market.
- Gas prices slide after summer. The summer driving season is over and falling gas prices might slip further this winter. Americans enjoyed the cheapest summer gas since 2004, and economists hope the “gas dividend” will boost spending this quarter.
Quote Of The Week
“The most common way people give up their power is by thinking they don’t have any.” – Alice Walker
Recipe Of The WeekPeaches and Cream Tart Enjoy this take on peaches and cream at your next dinner party. Serves 8 Ingredients:
- Flour for your work surface
- 1 refrigerated pie crust
- 5 ripe peaches, washed and quartered
- 1 tablespoon honey, warmed
- 1 16-oz container of whole sour cream or crème fraîche
- 4 Tablespoons powdered sugar
- 2 Tablespoons sliced, blanched almonds
Tax TipsDo You Know About the Taxpayer Advocate Service? The Taxpayer Advocate Service (TAS) is an independent office within the IRS that acts as an ombudsman for taxpayer issues at the IRS. The TAS can help taxpayers whose problems are causing financial difficulty and who have tried to resolve issues through the normal channels. The TAS is open to all taxpayers, including businesses and foreign residents of the U.S., and services are always free. The IRS has adopted a list of fundamental rights that all taxpayers should know:
Taxpayer Bill of Rights:
- The Right to Be Informed.
- The Right to Quality Service.
- The Right to Pay No More than the Correct Amount of Tax.
- The Right to Challenge the IRS’s Position and Be Heard.
- The Right to Appeal an IRS Decision in an Independent Forum.
- The Right to Finality.
- The Right to Privacy.
- The Right to Confidentiality.
- The Right to Retain Representation.
- The Right to a Fair and Just Tax System.
Golf TipIntroducing a New Golfer to the Sport If you’re a passionate golfer, it’s natural to want to bring new people to the golf course. However, it’s important to start slowly and respect a new player’s interest and ability. Here are some tips for playing with someone new:
- Help them choose rental clubs that are the right size (and hopefully, not too beat up).
- Start simply by explaining the rules – leave the details and advanced strategies for future days on the course.
- Teach golf etiquette and help new players clean up after themselves on each hole.
- Make sure new golfers understand the course’s dress code.
- Don’t lean over new players as they get into their stance. Save helpful tips for after the shot.
- If your group is moving slowly, be polite and let other golfers play through.
Healthy LifestyleA Cardiologist’s Tips for a Healthy Life Noted cardiologist Dr. Dean Ornish has the following lifestyle tips for seniors aiming to improve overall health:
- Stop thinking of foods as good or bad and emphasize moderation. However, a low-fat, plant-based diet that is low in sugar has been shown to improve health.
- Add exercise to your day in small increments. Walk briskly for 30 minutes and take the stairs when you can.
- Make overall lifestyle changes. It’s ok to take days off or to fall off the lifestyle wagon. What’s important is that you make overall changes to your life.
- Use meditation to reduce stress and pursue inner peace.
- Cherish your family and friends and work on your relationships.
Green LivingSave Energy, Save Your Clothes Washing your clothes in cold water not only will save you energy and lower your monthly bill, but it will also preserve fabric color and reduce wear, helping your clothes last longer. Here are some other laundry tips:
- Do full loads of laundry to reduce the amount of water used in each wash.
- Choose the right laundry cycle for each load. Delicate or lightly used clothing doesn’t need as long a cycle as heavy or soiled items.
- Separate heavy and light items when drying. Lightweight items will dry more quickly, reducing energy usage.