Pocketbook Effect News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Savers will start to learn interest but in practice it will take some time to play out. for more let's bring in neila richardson, chief economist for adp. free money, it's over. that era is over. what should we expect? more rate hikes. what will it mean for people? >> i think what it will mean for people is that that policy generally reacts with a lag. so eventually what we hope to see is lower inflation. cheap money is good but when your dollar doesn't go as far as it used to, that's not great. what people have seen, what main street has seen is that when they go to the grocery store, when th...

Tip the economy into recession, which would obviously be another big brick on the load for the president trying to win reelection. and i think just the pocketbook effect of these tariffs made them rereluctant politically to accept the heat. you are in a contest against a non-democratic system, an authoritarian system that can impose a lot of pain on their society in china. it's always tougher in a democracy. and why this strategy of kind of tit-for-tat tariff increases is one that is difficult for the u.s. to win, even though we are obviously a key market for the chinese. >> so let's turn to s...

Year, number two, removes some of the uncertainty about fiscal policy that's been plaguing the markets and business for a number of years now. these tax rates are now permanent, also a small but permanent capital gains and dividends tax increase. but looking beyond the fiscal cliffry, we've had a positive economy and i think the markets and investors in the public are hoping they can focus on business as usual and less on washington and what they see tends to be rather upbeat. >> at the same time, people are facing tax increases because the temporary tax cut expired and wealthier people are fa...