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S&P Global data shows U.S. manufacturing activity slowed in March, with the PMI falling to 49.8 and business expectations dropping to the second-lowest level since October 2022. Tariffs and policy uncertainty have companies worried about weak demand, and while services growth hit a three-month high, expectations declined for consecutive months. Multiple institutions have lowered 2025 growth forecasts, and the Federal Reserve has also cut its economic outlook.
The closure of the carried interest tax loophole has once again become a policy focus. Although this move helps alleviate fiscal deficits, the author warns that without the three-year holding period incentive, the private equity industry may slide toward short-termist practices such as rapid flipping and asset stripping, harming industry reputation and the investment ecosystem.
The Conference Board reported Thursday that its Leading Economic Index continues to point to growth headwinds, projecting U.S. economic growth will slow to 2% in 2025 from 2.8% in 2024. Meanwhile, the Federal Reserve cut its growth forecast for this year to 1.7% and held interest rates steady.
At Wednesday's investor day, Adobe executives said AI will be embedded across all products and become a key engine for future revenue growth. CEO Shantanu Narayen said he hopes every $1 of revenue carries AI influence, while CFO Dan Durn emphasized that the company is 'in the best position' to seize AI opportunities. Despite a 10% year-over-year revenue increase to $5.7 billion in the latest quarter, the stock fell about 14% as investors questioned the monetization path of AI.
This article is written by former CFO Kim Vogel, who currently teaches in Stanford University's continuing education program. The article points out that CFOs can more effectively motivate teams by leveraging stories when conveying complex financial information. Although every CFO's story is unique, almost all narratives can be categorized into five classic archetypes: rags to riches, the quest, rebirth, the voyage and return, and the hero's journey. Using Fortune 500 companies such as Walmart, Amazon, Apple, Hasbro, and Best Buy as examples, the article demonstrates how these archetypes are applied in practice.
On March 19, the Federal Reserve announced it would hold interest rates steady at 4.25%-4.5%, with the dot plot indicating that two rate cuts may still occur this year. The latest economic projections raised the 2025 core PCE inflation expectation to 2.8% and lowered GDP growth to 1.7%. Powell stated that tariff policies bring high uncertainty, but the Fed does not need to act hastily and will wait for clearer data signals.
A Minnesota bill aimed at providing an alternative path to CPA licensure (without requiring an additional 30 credits beyond a bachelor's degree) received strong support at a hearing of the House State and Local Government Finance and Policy Committee on Tuesday and advanced to the House Appropriations Committee. Previously, the Senate companion bill was expected to be included in an omnibus bill after a Friday hearing. Notably, no opposition was voiced at this hearing, contrasting with the setback of a similar proposal last year.
The U.S. Securities and Exchange Commission (SEC) announced on Monday that it has accused Glen Leibowitz, the former chief financial officer of cannabis company Acreage Holdings, of orchestrating a $4.2 million 'round-trip' cash transaction, which involved exchanging funds with an affiliated nonprofit organization to inflate the company's year-end cash balance for 2019. The SEC stated that the transaction lacked economic substance, and Leibowitz allegedly falsified accounting entries and misled auditors. Leibowitz's lawyers denied the allegations, stating that their client's actions were proper. Acreage had reached a settlement with the SEC in January 2025, paying a civil penalty of $225,000.
Facing slowing growth, persistent inflation, and stagflation risks, CFOs in companies without a dedicated pricing team must take direct control of pricing strategy. The article emphasizes three key elements—cost, competition, and customer value—and recommends leveraging financial discipline, data-driven decision-making, and cross-functional collaboration to transform pricing into a profit protection tool, while preparing for sustained market turbulence over the next 10-20 years.
U.S. retail sales rose 0.2% month-over-month in February, below market expectations, with January data revised to a decline of 1.2%. Uncertainty over tariff policies has raised concerns about consumer spending and economic slowdown. Economists noted that uncertainty over the Trump administration's tariff policies has negatively impacted consumer and business confidence, with the Atlanta Fed downgrading its first-quarter GDP forecast to a contraction of 2.1%.