On Wednesday, June 14, the Federal Reserve announced a pause in interest rate hikes for the first time since March 2022. The decision comes after promising economic indicators show that relief from historic inflation may be coming.  

Inflation Falls from Peak 

In a good sign for consumers, the Bureau of Labor Statistics announced on Tuesday that the Consumer Price Index rose more slowly than anticipated for the month of May. Meaning that while inflation is still persistent, the rate at which it is increasing is easing. The Consumer Price Index (CPI), a metric that measures the average change of prices paid by consumers for goods and services, was 4% for the year ending in May. 

Inflation has slowed for 11 consecutive months, and the CPI has dropped from its peak of 9.1% in June 2022. The CPI was more than doubled at this same time last year, at 8.6%. When looking at monthly change, prices increased by 0.1% from April to May, less than the 0.2% predicted by economists.  


While these are welcome developments, the pause is largely regarded as a chance to assess the effects of the previous rate adjustments and determine whether they were enough to continue the downturn or if more intervention is required. Inflation remains well above the Fed’s goal of 2%, and the interest rate forecast for the year indicates that at least two more rate hikes are in store for 2023.  

With the future outlook uncertain, now may be the time to revisit your strategy to take advantage of current rates. Please get in touch with your advisor at FIRM with any questions or to discuss planning for your financial goals. 


Daryl R. Petrick, CPA and Tax Partner at Bowman & Company CPAs in Stockton, California has been elected Chair of the North America Regional Advisory Committee of Alliott Global Alliance (AGA), one of the world’s largest global multidisciplinary alliances.

Daryl succeeds Jeff Berger, Co-Managing Partner at Golenbock Eiseman Assor Bell & Peskoe in New York City. Effective 1 November 2021, this new role will see Daryl join the Worldwide Board of Directors.

Daryl will be supported by newly elected Deputy of the North America region, Chris Blake, Partner at Hahn Loeser & Parks (Cleveland, Ohio), and will serve a three-year term. As well as representing the interests of the North America membership of CPAs and attorneys on the Worldwide Board, Daryl will play an important role in formulating an alliance-wide strategy that will drive up the alliance’s value proposition and in supporting the Executive Office to implement plans.

A partner at Bowman and Company, a firm that has been a member of AGA since 2009, Daryl specializes in planning and taxation matters for family-owned businesses, high-income individuals, and real estate professionals, and represents clients involved with international transactions.

Daryl comments:

“It is an honour to be appointed to this position within the alliance and to step into such an important role recently held by Jeff. As Chair, Jeff has demonstrated great leadership and I will do my best to lead by his example and to work to develop and implement strategies that will continue to help raise the profile of AGA further across North America.

“I also look forward to working closely with our law and accounting member firms across the region and to discussing ways in which we can all work even more effectively and collaboratively together into 2022 and beyond.”
Alliott Global Alliance CEO, Giles Brake adds:

“Daryl’s elevation to Chair of the North America region reflects the high regard in which he is held by members in the region and by the current directors of the Worldwide Board. He is a proactive innovator who brings an infectious enthusiasm, and his ability to challenge conventional wisdom will ensure we maintain our forward momentum in an extremely competitive alliance market. I look forward to working alongside Daryl in the years ahead as we seek to take AGA to the next level.”
About Bowman & Company:
Bowman & Company, LLP has earned a reputation for providing innovative, forward-thinking tax planning strategies, reliable financial reporting, and creative business consulting in a personalized, collaborative manner. As trusted business and financial advisors to closely-held businesses throughout California, the firm’s mission is to help clients minimize their tax obligations, make intelligent decisions about their businesses, and exceed their financial goals.

Established by Herbert Bowman in 1949, Bowman & Company quickly became one of the Stockton area’s largest accounting firms by never losing sight of the founder’s observation, “There’s no right way to do the wrong thing.” Our history has set the foundation for our firm’s accomplishments, and as a firm with a national and international footprint, our personal relationships remain the hallmark of our brand.

About Alliott Global Alliance:
Founded in 1979, and with 200 member firms in 85 countries, Alliott Global Alliance is an international alliance of independent, law, accounting, and specialist advisory firms, working across the world Together as One.

Each of our members share a common goal: to learn and share knowledge, resources, and opportunities to make the world smaller and their businesses stronger.

We work with a spirit of generosity and openness — so that together, we can continue to fulfill our ambitions, gain greater experience, and drive mutual success.

Alliott Global Alliance is expanding fast, and the alliance has its sights set firmly on growing its legal and accounting membership to 100 countries. Opportunities are available to independent professional firms in specific countries in Africa, but also in Europe, China, the ASEAN region, Australasia, the Gulf Cooperation Council region, Central and South America and in North America. For information about membership in the North American region, contact Damien McMenamin (damien@alliottglobal.com), Chief Growth Officer.

Original article found HERE

Speaking on his legacy, his successor Darsi Casey said of Farmer, “It is an honour to be appointed to this position within the Alliance and to step into such an important role recently held by Colin. Colin has demonstrated great passion and skill in leading the Worldwide Board and taking AGA to the exciting place it is today.”

Casey has been elected as AGA’s Worldwide Chair, winning promotion after serving as the Chair of the North America region, and over the last four years as Farmer’s Deputy Chair. Co-Founder and Managing Shareholder at accounting firm Casey Neilon in Nevada, US, Casey is the first woman to serve as Chair of AGA, serving a three-year term during which she will play an important part in leading the Worldwide Board in developing and implementing the next stage of AGA’s strategic plans. She will be supported in her role by her newly elected Deputy, Giorgio Marcolongo, Partner at BĒS Associati in Milan, Italy.

Commenting on the news, Casey said, “I aim to continue Colin’s great work, to lead by example and work with the Executive Office and our members from all regions to bring their ideas and concerns to the attention of the Worldwide Board. I look forward to leading AGA in the coming years.”

Farmer, meanwhile, spoke very highly of his successor. Noting being “delighted” with her election, he added that throughout her tenure as Deputy Chair, “Darsi’s commitment to the Board and to the Alliance has been second to none. Her vision and strong drive will be instrumental in helping to shape AGA in the future and I wish her many congratulations on this fantastic achievement.”

Meanwhile, AGA CEO Giles Brake concluded, “It takes a very special person to serve as Worldwide Chair… The alliance faces significant challenges to remain competitive and relevant to member firms and their clients in the years ahead. However, I am very confident that with Darsi at the controls, we are in the optimum position to convert these challenges into opportunities and establish the alliance as a leader in our industry.”

Original Article Here