Higher interest rates make borrowing more expensive for shoppers and companies, cooling demand with the aim of curbing inflation. The Fed has raised rates five times this year. The central bank is expected to hike rates for a sixth time...
The federal government will allow you to save nearly 10% more for retirement in 2023. But it’s not likely that many will take advantage of the tax break. The simple reason: Most people don’t make enough money to save more...
As prices increase and gross domestic product declines, many people worry about a potential economic downturn, also known as a recession. Consumer prices rose 8.3% from a year earlier in August while core prices, which exclude volatile food and energy...
The wealth gap widened substantially this year. That’s according to recent data published by the U.S. Federal Reserve. The Fed’s analysis of household wealth distribution indicates a sharp increase in consumer debt for nearly all Americans. However, the data also...
Climbing mortgage rates have been dampening the red-hot pandemic housing market for a few months now. Sellers are slashing prices while buyers are sitting on the sidelines, home sales are falling through, contingencies are back, and bidding wars have become...
Consumer inflation was hotter than expected in August. Shelter, which includes rents, are about a third of CPI and rose at the fastest rate in 40 years. This could help keep inflation elevated, the Fed raising rates and consumers squeezed...
Climbing mortgage rates have been dampening the red-hot pandemic housing market for a few months now. Sellers are slashing prices while buyers are sitting on the sidelines, home sales are falling through, contingencies are back, and bidding wars have become...
Higher interest rates have changed the math on what was recently a straightforward decision, advisers say Quit your mortgage before you quit working. So goes the standard advice for those nearing retirement, but that might not be feasible for retirees...
There are many people out there who will offer to give you financial advice. And while most of them are ethical and trustworthy, sometimes you’ll find that some advisers take action on your behalf that you might consider unethical, even...
IRAs are a tried and true vehicle to save for retirement. The basic idea is that your savings grow tax-free. Individual retirement accounts are a tried and true vehicle to save for retirement. The basic idea is that your savings...
Senate Democrats passed a sweeping climate, health care, and tax bill Sunday. If it becomes law, it could lower energy and health care costs for the average American during a time when budgets are tight. Called the Inflation Reduction Act...
The number of 401(k) and IRA millionaires reached an all-time high in the first quarter of 2021, according to Fidelity Investments. Retirement account balances have been steadily recovering in the year since COVID first emerged, even surpassing pre-pandemic levels. Today,...
Higher interest rates make borrowing and spending across the economy more difficult, cooling demand The Fed is expected to raise rates three more times in 2022 The next Fed hike will come by July 27 As Americans brave 40-year high...
Since the start of the year, a longstanding trend in U.S. stocks has suddenly reversed: formerly highflying growth stocks have gotten hammered, while “value” names have taken on the mantel of market leaders at a time when stocks are on...
The bankruptcy filing from Three Arrows Capital (3AC) triggered a downward spiral that wrapped in many crypto investors. The hedge fund failed to meet margin calls from its lenders. “3AC was supposed to be the adult in the room,” said...
