Federal Reserve Chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin. “We’re not allowed to own bitcoin,” Powell said at a press conference...
A tariff is a tax on imported goods usually aimed at protecting local jobs and industries from foreign competition. The idea is that if foreign materials and products are more expensive, you’ll buy more domestic goods. Suppose, for example, that...
If you’re in your 50s and hear that the “average” net worth for people in your age group is over $1 million, you might be tempted to pop a bottle of champagne or stress about why you’re not feeling like...
If you need help managing your money or you’re not sure whether you’re on track for a major life goal, a financial advisor can be an important ally. A financial advisor is a professional who helps you create and implement...
When it comes to deciding between using a bank or a credit union, there are several factors to consider — including safety. Credit unions have a reputation for being slightly safer than banks, but are they, really? Here’s what you...
Since late 2022, mortgage rates have jumped to between 6% and 7% — and in fall 2023, they nearly eclipsed 8%, marking the highest 30-year mortgage rate seen in over two decades. Rates started to drop this summer in anticipation...
Credit card debt is something many Americans know far too well. In fact, a recent Bankrate study found that 50 percent of people in the U.S. are carrying a credit card balance, and 58 percent of them don’t have a...
I recently came across this reflective Reddit post, where a 30-year-old shared his experiences following the inheritance of $2.5 million from his late father. I found this post interesting because it not only revealed the financial implications of his inheritance...
Investors are at a heightened risk of cryptocurrency scams tied to fake relationships established over social media, dating apps and networking sites, federal officials warn. Such frauds occur when scammers use dating apps, social media platforms, professional networking sites or...
It’s crucial to understand how to file a homeowners insurance claim after a natural disaster. Insured losses alone for Hurricane Helene are now estimated at more than $6 billion. Meanwhile, analysts anticipate that Hurricane Milton could be a “once-in-a-century” storm...
After two and a half years of slogging through higher interest rates in an effort to throttle back inflation, the cycle is reversing. The Federal Reserve lowered its key interest rate by 0.50% at its meeting on Sept. 18. However,...
Whether it’s a small emergency like a flat tire or a major one like traveling to care for an ill family member, life will inevitably throw some financial hurdles your way. Building an emergency fund and setting aside money for...
This is the economic U-turn we’ve been waiting for. The Federal Reserve is expected to begin lowering interest rates Wednesday. It’s been a long time coming. After inflation peaked at 9.1% in June 2022, the Fed worked to tame consumer...
Everyone dreams of a comfortable retirement, where you don’t have to stress about running out of money or pinching pennies. The goal is to enjoy your golden years with enough financial security to live the lifestyle you’ve always imagined. Whether...
Thursday marks the one-month anniversary of the Aug. 5 “yen shock” — a mini-market panic that quickly spread throughout global markets after beginning in Japan the Monday following the July jobs report. The Nikkei stock index (^N225) hemorrhaged 12% that...
