I believe that the credit union is required to publish a blended APY, combining 4% for 4 months and 1.65% (the current rate for the remainder) for the final 12 months.
See Reg DD Appendix A. This is a stepped rate CD. Section B talks about blending rates, and Section C talks about using the current rate (1.65%) if the rate is variable.
https://www.consumerfinance.gov/rules-policy/regulations/1030/a/#1B-1
The credit union is advertising this as 4% APY without disclosing the blended rate. This may be violating Reg DD. Haven't researched but suspect it should not be necessary to read the fine print (though one should) if the institution is stating APY as required by law.

I hope they get fu**ed on this.

I believe that the credit union is required to publish a blended APY, combining 4% for 4 months and 1.65% (the current rate for the remainder) for the final 12 months.
See Reg DD Appendix A. This is a stepped rate CD. Section B talks about blending rates, and Section C talks about using the current rate (1.65%) if the rate is variable.
https://www.consumerfinance.gov/rules-policy/regulations/1030/a/#1B-1
The credit union is advertising this as 4% APY without disclosing the blended rate. This may be violating Reg DD. Haven't researched but suspect it should not be necessary to read the fine print (though one should) if the institution is stating APY as required by law.

the threatened penalty for keeping VG mutual fund account is $20/yr/fund holding. [...]
[...] people also got notices to switch to electronic statements to avoid $20 annual fee. [...] the previous threshold to avoid that fee was $50K in household assets, but it was suddenly bumped up to cool $1 million.

In both instances (legacy mutual fund platform, brokerage platform), Vanguard was and is charging annual maintenance fees. In both instances the amount of the maintenance fees is not changing. In both instances Vanguard was and is providing ways to have those fees waived.
Vanguard is making two changes. One is to increase the threshold balance for waiving fees from $10K to Flagship status ($1M), for both legacy and brokerage platforms. (There is a different $50K threshold for SIMPLE IRAs and solo 401(k)s that is not changing.)
The other change is that Vanguard is eliminating electronic delivery as a way to wave fees on the legacy platform. Vanguard is retaining this waiver on its brokerage platform. The practical effect of this if you are counting upon using electronic delivery to have fees waved is to nudge you onto the brokerage platform. This has no impact on Flagship customers as they will continue to have maintenance fees waived.
Apparently (I have not received communication from Vanguard), the new fee schedule for existing accounts goes into effect on Sept. 30th.
Old fee schedule
New fee schedule
(Links "borrowed" from Bogleheads thread.)

Speaking of malfunctioning websites, has anyone viewed Vanguard funds on its website using Firefox?
It appears there are issues ¹ as a result of recent Vanguard "improvements."
1) No margin on left side of page.
2) Headers (Overview, Performance & fees, Portfolio composition, etc.) are not listed on top.
They occupy most of the page which makes it extremely difficult to view the corresponding data.
¹ Chrome and Edge work fine.

Another link to the above for those who couldn’t access it.
https://morningstar.com/articles/1108848/i-bonds-forever

Small cap space rotates quickly between growth and value styles, similar to those of the larger caps. Now value funds are in favor. I prefer active managed smaller cap funds since there are many more opportunities in stock picking. We have small cap index fund choice in our 401(k) but we choose not to use them.
For now the only small cap fund we invested in is T. Rowe Price Mid-cap value, TRMCX. The long time manager, David Wallack, retired in mid-2021, and replaced with two new associates. Wallack’s investment process remains intact as the fund out-performed the respective mid-cap value index especially during the drawdown in May 2022. The other small cap value fund, QRSVX, we had earlier is okay too, but the lack of a deep bench was a concern whereas T. Rowe Price is in a better position. We are keeping a small allocation, 2-3%, per our risk tolerance at this time.

https://www.suneast.org/save/savings-accounts-and-certificates/
4% 16 months. $10k minimum.

That 4% is a teaser rate that only lasts for the first 4 months of the term. Thereafter, the rate drops to the higher of either 2% or their normal 12 month CD rate (currently 1.65%).

Listened to Summers again. He’s afflicted by the “ahh” syndrome which detracts from his speech delivery. These are known as verbal pauses. A good speech coach could correct that with some training. His delivery is also very slow. Such defects are perhaps irrelevant when he’s sitting in on a meeting with other college professors. Not so good on TV. For a sharp contrast listen to host David Weston whose delivery is virtually free of verbal pauses.
None of this is to suggest speaking ability affects one’s financial acuity. It does not. But listening to LS for 15 minutes ought to provide a lot more information and insight than it seems to. In a sense, delivery does affect the end result.

Renewable energy is the cover story in the current Barron's. LINK1 LINK2
COVER STORY, “Clean Energy’s Future Has Arrived/6 Stocks to Play the Rush for Renewable ENERGY”. AES, BE, FCX, LG Energy (S Korea), PLUG, RUN, etc; ETF TAN
TRANSITION from wood to coal took200 years, from coal to oil 100 years, but that from fossil fuels to RENEWABLES (solar, wind, batteries, hydrogen) to be in only a few years? Global renewable power was 29% in 2020, and by 2030, may be 60% in Europe, 38% in the US, 38% in China. Both the US and Europe, each, are adding 30 GW of renewable power capacity now and that may be 80 GW/yr by 2030. There are transition TAX CREDITS/INCENTIVES everywhere. Russia-Ukraine war has set back some current efforts (coal has come back and natural-gas is scarce) but has accelerated the push for future transitions. Europe has committed $200 billion, the US Inflation Reduction Act will have $370 billion, and private investments will kick in $1.2 trillion. This may be the end of boom-and-bust energy cycles. Many countries have NET-ZERO carbon emission goals by 2050+. However, be very selective on companies in the renewable energy area. Besides the companies mentioned earlier, other beneficiaries may include VWDRY, NLLSF, XOM, CVX (old energy companies won’t be sitting still).

There is an interview in the current Barron's from a China fan, LINK1 LINK2
Virginie MAISONNEUVE, Allianz Global. An interview focused on China (VM has followed China since the age of 5, has degree in Mandarin, has worked in China, specializes in China ESG). China-Taiwan conflict is not in anybody’s interest. The US-China trade war was misplaced by the US concerns. Treat China as a separate asset class, not just a part of the EMs. China is often out of sync with the others, so that provides important diversification benefit. China offers opportunities in innovative/disruptive techs, biotech, digitization. Chinese equities are volatile but attractive on earnings and valuations. Her big themes include quality-value (i.e. not deep-value), quality-growth, high-impact global themes (energy, food, water, AI, cybersecurity), risk control with ESG (her “new normal” despite temporary criticisms/doubts now).

https://www.suneast.org/save/savings-accounts-and-certificates/
4% 16 months. $10k minimum.

I presume you read through this recent thread.
What is different about a sector "bet" versus a single stock position?
MFO, August 9

+1

@hank, the threatened penalty for keeping VG mutual fund account is $20/yr/fund holding. So, for someone holding 5 VG funds in an account, it is $20 x 5 = $100/yr for that account. Double that if both husband and wife have VG accounts. We actually have 5 distinct VG accounts (4 IRAs, 1 trust) and on us alone, VG could get a windfall (-:).
In another forum, people also got notices to switch to electronic statements to avoid $20 annual fee. VG uses a householding system and the previous threshold to avoid that fee was $50K in household assets, but it was suddenly bumped up to cool $1 million. The deadline for that is also 9/30/22.

One thing worth doing with small-caps is looking at their betas. Only a handful have betas less than 1 and if you’re worried about volatility, that matters.

@hank, I only watched the first five minutes or so and likely not get to it until late Sunday. A

It would be nice to hear any takeaways after you’ve watched. Generally, the recent rally in equities seems to have surprised everyone, including most of WSW’s guests. If you listened to Summers every week I suspect you would have burried your head in the sand the past 6 months (financially speaking). One notable exception is frequent guest, Sarah Ketterer, Causeway Capital CEO & Fundamental Portfolio Manager. She’s been more positive than most over the year I think. Schwab’s Liz Saunders, while more cautious, also offers a balanced and circumspect picture.
One (unrelated) sign that things have improved is that PRWCX has clawed its way back from doubled-digit loss territory to only - 4.71% YTD.

Did anybody get anything out of this week’s show? The first 2 guests were well qualified. The woman was from Invesco. But I thought they spoke in broad generalities. Geez - Can we stop second guessing what the Fed will do next? Even the Fed members sound clueless. And to say China “might be” a productive investment going forward really doesn’t say much. Like it or not like? What percentage would you so allocate?
I can’t stomach Summers anymore. Obviously bright and highly educated. His particular weekly “take” on inflation & Fed policy wouldn’t seem to require what sounds like 10 minutes of droning. You don’t suppose they’re paying him by the number of words? :)
Thanks @BaluBalu for posting all the shows. (I always record / replay the show thru my Hulu subscription). While I didn’t take away much this week, often the guests are really good and leave some incisive commentary.
Hoping others can contribute here whatever substance, insights, advice they gleaned from this week’s program? While the show shines occasionally, overall it bears little resemblance to the spontaneity and expert analysis served up by a distinguished array of financial gurus on Louis Rukeyser’s old Wall Street Week.

+1.

There was a post at M* Discussions (long thread, post# 326, warning - needs lot of scrolling) yesterday that offered a ray of hope. https://community.morningstar.com/s/question/0D53o000066YnacCAC/does-anyone-else-feel-like-the-new-morningstar-investor-is-a-huge-downgrade-compared-with-the-legacy-portfolio-manager
"Bill.Baranyk (Employee)
21 hours ago
Hello Investor subscriber,
We're continuing to receive feedback from subscribers on the Investor experience, with an emphasis on the status of missing or incomplete features.
We take feedback seriously and want to show how we’re using it to improve Investor. So, we’d like to lay out what you can expect over the next six to nine months.
The status of legacy Portfolio Manager
Legacy Portfolio Manager will not be retired until the features in Investor's Portfolio help you accomplish the same tasks as legacy: monitoring your portfolio with relevant data in customizable views, understanding investment performance, and reviewing Portfolio X-Ray analysis on your holdings. Our goal is to add features to Portfolio that support those tasks by the end of 2022.
As we continue to build and release, you’ll see similar features to those in legacy, but you’ll also see new additions that improve how you research, analyze, and monitor investments.
But rest assured: Legacy will not be retired until all those features are successfully up and running in Investor. We’ll communicate our progress along the way, and if we aren’t on track to hit our goal, legacy will remain until we are.
Custom views
Custom views are coming to Investor, and they’ll be similar to the My Views feature in legacy Portfolio. The launch of views will come in phases, with the first phase rolling out in early September 2022. This launch will include an improved process for creating, editing, and sorting custom views and around 80 additional data points to work with.
The remaining phases will roll out throughout the rest of the year and will include expanded data points and more ways to control how you view information within tables. [We’re also determining the best way to bring over custom views you’ve already created in legacy Portfolio Manager.]
We’ll notify you as each phase launches.
Performance tracking
In the fall, we’ll add performance tracking to Investor for portfolios that have manually added purchases/sales. This includes both data and comparisons to similar benchmarks. Watchlists in Investor will not include functionality for performance tracking.
Investor will continue to evolve with the needs of our subscribers, so we’ll keep you informed as updates come. This approach may be a bit different than what you’ve experienced with Premium. It’s all in service of getting the right features into your hands, so you can focus on your investment goals.
We can’t wait for you to see what’s in store over the coming weeks and months.
Happy investing,
The Morningstar Investor team"

This week's episode from YouTube:

From Bloomberg site:
https://www.bloomberg.com/btv/series/wall-street-week