Weekly Digest – December 15, 2023- Counting the Days of Hannukah as the Countdownt to Christmas Begins 🕎🎅❄🎄🛍

Hanukah, also known as the festival of lights, how nice to have a holiday that lasts over a week with so many ways to celebrate, food, friends, games, presents and candle lighting.  We were happy to be invited to our good friends’ home for Friday night, the second night of Hanukah and the commute (just across the street made it a no brainer).  With eight days and nights, this week’s photo’s were an easy cheat. We started last Thursday eveing, with a quiet first night, then gathered steam for some memorable celebrations…

Friday night with Wayne and Lois, latkes and jelly donuts…

Homemade Potato Latkes
Homemade Potato Latkes
Jelly Donuts a Hanukah Tradition
Jelly Donuts a Hanukah Tradition

Sunday…. Where does it say that they have to be potato pancakes, I call these zucchini fritters healthy latkes …

Zucchini fritters vs Potato Latkes
Zucchini fritters vs Potato Latkes

I remember using a similar menorah for years when my children were little and they brought their handmade menorahs home from school, my friend Andrea shared this photo with me …

Grandkids Made the Menorah
Grandkids Made the Menorah

Last night it was eight candles, the holiday ends today at sundown…

Thursday Evening the Eighth Night of Hanukkah
Thursday Evening the Eighth Night of Hanukkah

Of course it would not be an Andrea blog post without at least one sunrise beach photo.  Tuesday morning was so beautiful I am sharing two…

Sunrise on Rockaway Beach Tuesday Morning
Sunrise on Rockaway Beach Tuesday Morning
Sunrise on Rockaway Beach Tuesday Morning
Sunrise on Rockaway Beach Tuesday Morning

Wishing everyone a great weekend as we count down the days to Christmas, this year we are getting together with friends from varying faiths and will probably order in so no one has to cook.

WEEKLY TAKE AWAY

I know there is a saying “the road to… is paved with good intentions”  I’m not quite sure which road I traveled this week, but I need to remember to make sure to follow my process as communication can be more important than the act itself.

TAX ISSUES/TAX PLANNING

IRS Warns Taxpayers to Brace for Demands to Return Runds Wrongly Received for Eandemic-Era Relief

The IRS sent over 20,000 letters telling taxpayers their claims for a pandemic-era tax break were disallowed—and that the agency will be demanding repayment.

ECONOMY

The Federal Reserve Held Rates Steady; Here’s What That Means for You

  • The Federal Reserve held rates steady at the end of its two-day meeting Wednesday.
  • Many economists believe this concludes the central bank’s rate-hiking cycle, which aimed to bring down inflation without tipping the economy into a recession.
  • Still, the combination of higher rates and inflation has hit household budgets particularly hard

Read the full article here

Inflation Woes Impacting Most Americans’ Standard of Living

A CBS News poll reveals that inflation is significantly impacting Americans, even amid stronger jobs reports and economists’ talk of “soft landings,” people say they still pay more attention to their own experiences than to macroeconomic measures — and an overwhelming number say their incomes aren’t keeping pace.

US Budget Gap is $47 Billion More than Last Year

The Congressional Budget Office (CBO) announced that it is estimating that the federal budget deficit totalled $383 billion in October and November 2023, the first two months of fiscal year 2024. That amount is $47 billion more than the deficit recorded during the same period last fiscal year.

US Wage Growth, Once an Inflation Risk, May Be the Prop a Soft Landing Needs

New wage and labor market data released bolster what Federal Reserve officials have come to both hope and suspect: That rising worker pay and increased labor supply are helping the U.S. economy grow at a modest pace without fanning the inflationary pressures the Fed is trying to squelch.

Market Bets for 2024 Thrown into Chaos by US Recession Conundrum

Investment banks and asset managers have wildly varying stock market and currency calls for 2024, reflecting deep division over whether the U.S. economy will enter a long-heralded recession and drag the world with it.

Fed Can Slash Rates and Still be ‘Higher for Longer’

The Federal Reserve could comfortably lop a percentage point off its policy rate next year without changing its mantra of ‘higher for longer’ – what seems a contradiction is easily resolved.

A ‘Soft Landing’ or a Recession? How Each One Might Affect America’s Households and Businesses

The solid hiring revealed in Friday’s jobs report for November, along with a raft of other recent economic data, is boosting hopes that the U.S. economy will achieve a “soft landing” next year rather than a widely feared recession. What would a soft landing look like, compared with a potential recession?

Financial Accounts of the United States

The Federal Reserve’s Z.1 Financial Accounts of the United States report includes data on transactions and levels of financial assets and liabilities, by sector and financial instrument; full balance sheets, including net worth, for households and non-profit organizations, nonfinancial corporate businesses, and nonfinancial noncorporate businesses; Integrated Macroeconomic Accounts; and additional supplemental detail.

GENERAL RESOURCES

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