Leaving a financial legacy to your kids can give them a significant leg up in life. Data from the Congressional Budget Office shows that 28% of families in the top third of the income distribution received an inheritance, compared to...
Federal Reserve Chairman Jerome Powell signaled the Fed is likely to stay on hold through summer as it waits for more clarity on inflation. Citi economist Veronica Clark and Charles Schwab senior investment strategist Kevin Gordon join Market Domination to...
A Republican senator’s plan to take away the Federal Reserve’s power to pay banks interest on cash they park on central bank books could cause chaos for monetary policy implementation if it were implemented, market participants said. In recent days,...
The U.S. dollar slumped to its lowest level since 2022 on Thursday, putting the greenback on track to have its worst start to a year in decades. The U.S. dollar index (DXY) slid as low as 98.6 Thursday morning, its...
The European Central Bank is set to lower interest rates for an eighth time today. Analysts surveyed by Bloomberg expect the deposit rate to be cut by a quarter-point to 2%. Bloomberg’s Lizzy Burden reports. Bloomberg
...Is a mortgage rate in the 5% range the sweet spot for your home-buying budget? With mortgage rates remaining in the 6.5% to 7% range, most housing experts aren’t expecting rates to move much lower through the end of this...
A Moody’s downgrade of the US credit score reverberated through financial markets Monday and pushed down stocks, but the response from Republicans crafting a bill that could add trillions in new red ink was to immediately try to minimize the...
JPMorgan Chase (JPM) CEO Jamie Dimon warned that he sees an “extraordinary amount of complacency” in markets after investors clawed back their “Liberation Day” losses, emphasizing that the risks of higher inflation and even stagflation are still higher than people...
Wall Street is warning that the U.S. Department of Education’s crack down on student loan repayments may take billions of dollars out of consumers’ pockets and hit low income Americans particularly hard. The department has restarted collections on defaulted student...
Big changes are happening with Social Security, and you have questions. My recent columns drew thousands of comments, largely centered on three big themes: fear of delayed checks and crumbling customer service at the Social Security Administration, Roth conversions on...
Here’s how to read and interpret the dot plot. Want to know where interest rates are headed? During tumultuous economic times, it’s normal to search for answers about what’s to come for your finances. While there’s no way to predict...
Take these steps now to protect yourself from future financial hardship. 2025 has been off to a rocky start. Consumer confidence has plummeted thanks to persistent inflation, market volatility, and other challenges created by the new administration’s aggressive tariff policies....
The US economy contracted for the first time in three years to start 2025 as a surge in imports dragged down GDP and prices increased more than forecast. The Bureau of Economic Analysis’ advance estimate of first quarter US gross...
The Federal Reserve is in a tough spot following new data Wednesday reinforcing slower economic growth and higher inflation during the first quarter, a combination that may eventually force the central bank to choose between its dual goals of maximizing...
The Department of Education announced on Monday that major collections efforts against millions of defaulted federal student loan borrowers will be resuming in a matter of weeks. These efforts will include involuntary collections activities that allow the government to intercept...
