Trump order to help open up retirement plans to private markets, WSJ reports
The Trump order would instruct the U.S. Labor Department and the Securities and Exchange Commission to provide guidance to employers and plan administrators on including investments like private assets in 401(k) plans, according to the WSJ report.
The White House declined to comment on the report.
Private-market investments, often referred to as private assets, include private equity, venture capital, real estate and hedge funds. These assets are not traded on public exchanges and are typically characterized by higher risk and potentially higher returns compared to traditional public-market investments like stocks and bonds.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
BreakingNews.ie
21 minutes ago
- BreakingNews.ie
Firing of Fed Reserve chief ‘highly unlikely', says Trump
President Donald Trump has said it is 'highly unlikely' he will fire Federal Reserve chairman Jerome Powell 'unless he has to leave for fraud'. The statement came less than 24 hours after Mr Trump indicated in a private meeting that he is leaning in favour of dismissing the head of the US central bank. Advertisement Mr Trump confirmed that he discussed the 'concept' of dismissing Mr Powell in a meeting with about a dozen Republicans, who had gathered at the White House on Tuesday to discuss crypto legislation in the House of Representatives. Jerome Powell leads the US central bank (Julia Demaree Nikhinson/AP) 'Almost every one of them said I should,' Mr Trump said on Wednesday during an Oval Office meeting. US stocks were shaky after the news broke, as such a move could help Wall Street get the lower interest rates that it loves but would also risk a weakened Fed unable to make the unpopular moves needed to keep inflation under control. Meanwhile, House Speaker Mike Johnson stopped short of calling for Mr Powell to be fired, saying he was not certain about the 'executive authority' involved. Advertisement But he did say 'new leadership would be helpful at the Fed'. 'I've been unhappy with the leadership there personally,' Mr Johnson told reporters on Wednesday.
Daily Mail
21 minutes ago
- Daily Mail
BREAKING NEWS Phoenix Suns star Bradley Beal agrees to contract buyout and signs with new team in stunning move
Phoenix Suns shooting guard Bradley Beal has agreed to a contract buyout with the team and intends to sign with the Los Angeles Clippers, according to multiple reports. Beal's agent told ESPN's Shams Charania that the 32-year-old guard will ink a two-year, $11million deal with the Clippers. Beal will have to clear waivers in order to sign with the Clippers.
Finextra
22 minutes ago
- Finextra
Xero to triple high-quality bank feed connections in the US through Plaid partnership
Xero, the global small business platform, today announced a strategic partnership with Plaid, a leading financial data network, to eventually triple the number of high-quality bank feeds available to customers in the United States. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. For the many small businesses that form the backbone of local economies, access to community-focused finance providers is crucial, given the vast number of banks and credit unions nationwide. This partnership will significantly improve these business owners' access to reliable bank connections, giving them a clearer, real-time view of their finances which, in turn, will empower them to make more informed decisions, supporting their growth, their employees, and the communities they serve. "This partnership with Plaid is expected to supercharge bank connections. It will provide more robust integrations and higher-quality information from a wide range of financial institutions including smaller banks and credit unions," said Vikram Grover, SVP Global Partnerships for Xero. This partnership gives Xero's customers access to more than a thousand secure, direct connections through Plaid's expansive network of US financial institutions, delivering better reliability, data quality, and peace of mind for small businesses. Starting this year, Plaid will power an increasing portion of Xero's US bank feed sources, offering customers more dependable connections to their financial data. "This partnership with Plaid is expected to supercharge bank connections. It will provide more robust integrations and higher-quality information from a wide range of financial institutions including smaller banks and credit unions. This will in turn make managing the finances a lot smoother, more precise and successful, as well as save valuable time for small business owners, accountants and bookkeepers," said Vikram Grover, SVP Global Partnerships for Xero. Xero is continuing to invest in more reliable direct (OAuth) bank feeds, offering a significant improvement by using secure tokens for connections built directly with bank systems. Xero will proactively migrate customers to direct bank feeds available through Plaid, ensuring a more stable flow of financial data. "We're excited to partner with Xero to deliver best-in-class financial data connectivity for U.S. small businesses," said Adam Yoxtheimer, Head of Partnerships at Plaid. "By combining Plaid's secure, direct bank feeds with Xero's powerful accounting platform, we're giving customers faster, more reliable access to their financial information and freeing up time for them to focus on what really matters: growing their business." Xero will ensure a smooth transition to Plaid-powered feeds with clear, proactive instructions to guide customers through the easy setup process. The new Plaid bank feed options for US customers will start to become available from late 2025, with a phased rollout designed to ensure a smooth and well-managed experience. This will include both the introduction of new feeds and the transition of some existing connections to the enhanced service.
