Tariffs & Supreme Court: Sounds Like a Band!

Alex:

Happy holidays, everyone, and thank you for joining us for this installment of our bi-weekly commentary. I’m joined by my partners, Tom Boh and Kelly Heppe. Let’s start with a topic on many minds: the impending Fed rate cut decision.

Officials remain divided on whether to cut rates again this month. Some aim to keep inflation in check, while others are concerned about a softening job market after unemployment ticked up to 4.4% in September. Odds of a rate cut are high, but it’s not guaranteed.

With that, I’ll hand the microphone to Tom.

Tom:

Thank you, Alex. I want to touch on tariffs and the Supreme Court—sounds like a band name, right? Here’s the gist: regardless of how the Court rules, tariff levels likely won’t change much. The real question isn’t whether tariffs stay, but how they’re applied.

The decision focuses on the administration’s method, not its authority. Timing matters—whether the ruling comes before year-end or after could spark market volatility. We’ll keep you posted. Kelly, over to you.

Kelly:

Thanks, Tom. As we approach year-end, here are a few key financial moves to keep in mind:

• Max out retirement contributions and your HSA if eligible—great tax-advantaged opportunities.
• Complete any planned gifts and charitable donations, whether directly or through your IRA using qualified charitable distributions.

Taking care of these now sets you up for a strong start to the new year. Please see below for year-end deadlines and our modified office hours.

As always, thank you for your trust and confidence.

Modified Holiday Office Hours

Our office will observe the following schedule changes:

Early Closures

• Wednesday, December 24 – 2:00 PM
• Wednesday, December 31 – 3:00 PM

Full Closures
• Thursday, December 25 (Christmas Day)
• Thursday, January 1 (New Year’s Day)

Thank you for your understanding, and we wish you a wonderful holiday season!

Year-End Deadlines

Don’t let the holiday hustle throw you off track! Keep these year-end deadlines in mind to ensure everything is processed for 2025. Remember: transactions must be completed by market close on the dates listed below.

* To qualify as a 2025 donation, non-profit organizations must deposit the QCD check by 12/31/2025.