Last Saturday concluded the annual Jackson Hole Economic Policy Symposium. Without boring (most) readers with the agenda and all topics discussed, I wanted to briefly talk about arguably the most important part of the Symposium, Federal Reserve Chairman Kevin Warsh’s speech Friday morning. The big takeaway is Chair Warsh made it clear that the Federal Reserve has failed at its mandate to keep inflation at 2% (see graph below), and that the time for action is now. While I do believe actions speak much louder than words, his words did increase the probability of an interest rate hike at their meeting later this month. Fed funds futures are now predicting a close to 70% chance of a hike in two weeks. Jackson Hole analyst roundup: Fed's Warsh sounds more hawkish
In recent newsletters, my colleagues have discussed the increase in bond yields. Here is an article further highlighting why this matters: What Does a Bond Selloff Mean for American Consumers? - WSJ. While the previous article highlights some of the negative effects of higher interest rates, one of the positives is higher interest rates earned on savings accounts. For those with high-yield savings accounts – rates are approaching 4%. Now would be a good time to make sure you’re taking full advantage of this increase. Compare the Best Savings Accounts of 2026 | BestMoney
Financial Planning Corner
Annual Gift Exclusion
We often discuss with clients gifting strategies to their kids. While it is important to remember that there is a $19,000 annual gift limit, it is equally important to remember there is no tax consequence of gifting more than that in any given year (assuming you haven’t used up your lifetime exemption, which currently sits at $15 million). Another nuance is medical expenses paid to providers and education expenses paid to institutions do not count towards the annual limit. If you do go above the annual limit, the additional step involved is simply filing an additional tax form – Form 709. Some common questions surrounding the annual gift limit: The $19,000 Gift Limit Is a Myth. Here’s How Much Money You Can Actually Give Your Kid Tax-Free - WSJ
Open Enrollment Season Approaching
It is hard to believe that open enrollment for Medicare is right around the corner. This is an early public service announcement to review your coverage and make sure your plan is the one most beneficial to you. Here are a few key things to think about during the process: Guide to Medicare Open Enrollment - Medicare Rights Center
Additionally, benefits season for employees is right around the corner. It is a great time to review your current coverages – health, dental, vision, life etc. and to see if changes are warranted. If you have any questions or would like a second pair of eyes on the options available through your employer, please reach out to one of your RSWA advisors.
Quick Hits:
- U.S Open began this week - if you aren’t lucky enough to attend in person, I wanted to provide readers with the recipe for the Championship’s signature cocktail: U.S. Open Honey Deuce Cocktail Recipe - Grey Goose Honey Deuce
- Fall is just around the corner – peak foliage forecast: 2026 Fall Foliage Map & Peak Leaf Color Forecast | The Old Farmer's Almanac
- I attended a wedding in Canton, Ohio this past weekend – was able to visit the: Pro Football Hall of Fame
- Dolly Parton’s impact stretched far beyond my home state: Dolly Parton's Imagination Library | USA, UK, IE, CA, AU
Pro Football Hall of Fame
I attended a wedding last weekend in Canton, Ohio, home to the Bride (and the Pro Football Hall of Fame). With football season here, I thought it would be cool to share a few of the photos from the museum. I love any connection to Tennessee, so here are a couple pictures of Tennessee legends:
Quotes:
“Don’t get so busy making a living that you forget to make a life.” - Dolly Parton (two weeks in a row 😊)
“The most valuable player is the one who makes the most players valuable.” - Peyton Manning
Thank You for Reading
Thank you for being part of the RSWA community and for reading Financial Advisor Insights!
We welcome your feedback — and please share this with a friend or colleague who might enjoy it.
Be well, take care, and stay safe!
