The Fed and tattoosSep 22, 2015 | Wealth Management
Forget Luke and Laura, the new leading couple of daytime drama is Janet Yellen and interest rates. Last Thursday was no exception as this on-again, off-again romance was clearly off-again as the Fed decided not to raise interest rates. While the news brought with it initial euphoria as the Dow climbed shortly after the announcement, the excitement was short lived as further analysis of the decision resulted in the Dow plummeting back to earth to close out the day. The primary reasons the Fed decided not to raise interest rates were:
- Global economic growth is struggling
- Lack of inflation, including a lack of wage-inflation
- Fears of deflation
Certainly, the Fed will want to see improvement in these areas before considering a rate increase. These factors, along with continued negative global market data, have resulted in the recent market volatility and the continued rocky relationship between Chairwoman Yellen and interest rates.
In other news, people are now able to bequeath their tattoos to their loved ones as a new nonprofit will now help preserve tattoos post mortem. Certainly a lot of questions will arise regarding this new type of “personal property” and I’m sure the IRS will want to get involved to properly asses the taxable value. Will a decedent’s declaration that all tangible personal property go to a surviving spouse now include tattoos? Can a tattoo be held in trust like a Picasso? Don’t be surprised if your estate planning attorney asks you if you have any tattoos during your next meeting!
Senior Wealth Advisor
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The information presented in this blog is general in nature. It is not intended to provide, and should not be relied upon for accounting, investment, legal or tax advice. Investors should consider their individual financial circumstances and the inherent risks of investing prior to making any investment decision.
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