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Amplify ETF Trust files with the SEC-Amplify Mobile Payments ETF
July 26, 2023---Amplify ETF Trust has filed a Form N-1A, Post-Effective Amendment, Registration Statement with the SEC for the Amplify Mobile Payments ETF.
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CBO-An Update to the Economic Outlook: 2023 to 2025
Summary
In CBO's latest projections, economic growth slows and then picks up over the 2023-2025 period. That initial slowdown in economic growth drives up unemployment. Inflation continues to gradually decline.
The Congressional Budget Office periodically updates its economic forecast to ensure that its projections reflect recent economic developments and current law.
This report provides details about CBO's most recent projections of the economy through 2025, which reflect economic developments as of June 22, 2023.
Over the 2023-2025 period, in CBO's latest projections:
Economic growth slows and then picks up. The growth of real (inflation-adjusted) gross domestic product (GDP) slows to a 0.4 percent annual rate during the second half of 2023; for the year as a whole, real GDP increases by 0.9 percent. After 2023, growth accelerates as monetary policy eases. Real GDP increases by 1.5 percent in 2024 and by 2.4 percent in 2025.
That initial slowdown in economic growth drives up unemployment. The unemployment rate reaches 4.1 percent by the end of 2023 and 4.7 percent by the end of 2024 before falling slightly, to 4.5 percent, in 2025. Payroll employment declines by an average of 10,000 jobs per month in 2024 and rises by an average of 6,000 jobs per month in 2025.
Inflation continues to gradually decline. Growth in the price index for personal consumption expenditures (PCE) slows from 3.3 percent in 2023 to 2.6 percent in 2024 and 2.2 percent in 2025.
ETF Series Solutions files with the SEC-Bahl & Gaynor Income Growth ETF
July 26, 2023--ETF Series Solutions has filed a Post-Effective Amendment, Registration Statement with the SEC for the Bahl & Gaynor Income Growth ETF.
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Columbia ETF Trust II files with the SEC-3 Columbia ETFs
July 26, 2023--Columbia ETF Trust II has filed a Post-Effective Amendment, Registration Statement with the SEC for the
Columbia Emerging Markets Consumer ETF
Columbia India Consumer ETF
Columbia EM Core ex-China ETF.
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Franklin ETF Trust files with the SEC
July 26, 2023--Franklin ETF Trust has filed a Post-Effective Amendment, Registration Statement with the SEC.
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Franklin ETF Trust files with the SEC-Franklin Short Duration U.S. Government ETF
July 26, 2023--Franklin ETF Trust has filed a Post-Effective Amendment, Registration Statement with the SEC for the Franklin Short Duration U.S. Government ETF.
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SEC Proposes New Requirements to Address Risks to Investors From Conflicts of Interest Associated With the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers
July 26, 2023--The Securities and Exchange Commission today proposed new rules that would require broker-dealers and investment advisers (collectively, "firms") to take certain steps to address conflicts of interest associated with their use of predictive data analytics and similar technologies to interact with investors to prevent firms from placing their interests ahead of investors' interests.
"We live in an historic, transformational age with regard to predictive data analytics, and the use of artificial intelligence," said SEC Chair Gary Gensler. "Today's predictive data analytics models provide an increasing ability to make predictions about each of us as individuals. This raises possibilities that conflicts may arise to the extent that advisers or brokers are optimizing to place their interests ahead of their investors' interests. When offering advice or recommendations, firms are obligated to eliminate or otherwise address any conflicts of interest and not put their own interests ahead of their investors' interests.
Fed Raises Interest Rates to 22-Year High, Leaves Door Open for More
July 26, 2023--Powell says further rate increases will depend on data
Fed to consider 'extent of additional policy firming'
The Federal Reserve resumed raising interest rates and Chair Jerome Powell left open the possibility of further hikes, which he emphasized will depend on incoming data that has recently signaled a resilient US economy.
After pausing rate increases in June, policymakers lifted borrowing costs again at their policy meeting on Wednesday for the 11th time since March 2022 to curb inflation. The quarter percentage-point hike, a unanimous decision, boosted the target range for the Fed's benchmark federal funds rate to 5.25% to 5.5%, the highest level in 22 years.
Federal Reserve issues FOMC statement
July 26, 2023--Recent indicators suggest that economic activity has been expanding at a moderate pace. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated.
The U.S. banking system is sound and resilient. Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks.
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 5-¼ to 5-½. The Committee will continue to assess additional information and its implications for monetary policy. In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective.
Tidal ETF Trust II files with the SEC-Cboe(R) Validus S&P 500(R) Dynamic PutWrite Index ETF
July 25, 2023--Tidal ETF Trust II has filed a Post-Effective Amendment, Registration Statement with the SEC for the Cboe(R) Validus S&P 500(R) Dynamic PutWrite Index ETF .
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TCW to Buy Engine No. 1's ETF Unit in First Deal for CEO Katie Koch
July 25, 2023--Activist investor runs more than $600 million of equity ETFs
Engine No. 1 CEO Jennifer Grancio to join TCW as head of ETFs
TCW Group, the asset manager with a long history of managing bond funds, is expanding into exchange-traded funds with an agreement to buy an ETF business from activist investor Engine No. 1.
The acquisition, the first for new TCW Chief Executive Officer Katie Koch, includes a platform with more than $600 million of US equity ETFs and is expected to be completed in the third quarter, pending shareholder approval. Terms weren't disclosed.
Mason Capital Fund Trust files with the SEC-Fundamentals First ETF
July 25, 2023--Mason Capital Fund Trust has filed a Pre-effective Amendment Form, Registration Statement with the SEC for the Fundamentals First ETF.
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First Trust Exchange-Traded Fund III files with the SEC-First Trust Intermediate Government Opportunities ETF
July 25, 2023-First Trust Exchange-Traded Fund III has filed a Post-Effective Amendment, Registration Statement with the SEC for the First Trust Intermediate Government Opportunities ETF.
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ETF Series Solutions files with the SEC-AlphaMark Actively Managed Small Cap ETF
July 25, 2023--ETF Series Solutions has filed a Post-Effective Amendment, Registration Statement with the SEC for the AlphaMark Actively Managed Small Cap ETF.
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Legg Mason ETF Investment Trust II files with the SEC-ClearBridge Focus Value ESG ETF
July 25, 2023--Legg Mason ETF Investment Trust II has filed a Post-Effective Amendment, Registration Statement with the SEC for the IClearBridge Focus Value ESG ETF.
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