American Council of Life Insurers CEO David Chavern emphasizes the unique ability of life insurers to make long-term guarantees, which he describes as a "superpower" that sets the industry apart from banks and mutual funds. Chavern discusses the industry's transition from an accumulation to a decumulation era, highlighting the growing demand for annuities as retirees seek to manage longevity risk.

Small-business owners can make smarter decisions by leveraging overlooked data sources such as website analytics, customer relationship management systems, inventory management platforms, point-of-sale systems and accounting tools, writes Kevin Tacchino. Financial professionals can add value by helping clients utilize these data sources to improve resource allocation and profitability, Tacchino writes. Read more.

The Federal Reserve announced a quarter-point reduction to a key interest rate and indicated that additional cuts are likely coming before the end of 2025. The reduction is the first since December and brings the overnight funds rate to a range between 4% and 4.25%. "In this less dynamic and somewhat softer labor market, the downside risks to employment appear to have risen," said Fed Chair Jerome Powell.

The Financial Exploitation Prevention Act, which is designed to provide tools for combating financial abuse of older Americans, has been reintroduced in the Senate. Meanwhile, a House version of the legislation was approved by the House Financial Services Committee this week. Both bills would require the Securities and Exchange Commission to report on potential ways to stop exploitation.

Senate Majority Leader John Thune, R-S.D., said expiring Affordable Care Act subsidies will be addressed later this year but not as part of a stopgap funding measure. "I think the ACA subsidies will be an issue that will be addressed, but I think right now we've got to keep the government open so we can do appropriations bills and work on that, with that solution," Thune said.

Efforts to reform the prior authorization process in Medicare Advantage plans remain stalled in Congress despite bipartisan support for the Improving Seniors' Timely Access to Care Act. The bill would establish a process for electronic prior authorization, set standards for attachments and increase transparency. The Centers for Medicare and Medicaid Services has introduced regulations to streamline prior authorization, effective January 2026, but the agency is also launching a prior authorization pilot program for conventional Medicare.