The Federal Reserve ended its streak of 10 consecutive interest rate hikes on Wednesday and decided to keep rates steady. Even so, consumers may not feel celebratory as they reel from the earlier aggressive rate increases. Any pause should be...
I bonds are no longer the darling of investors now that the Federal Reserve has raised interest rates 10 times in a row to cool inflation. Interest rates on I bonds, which are set twice a year on May 1...
In March, 15 companies rated by Moody's defaulted on their debt, bringing up the first quarter total to 33. That's the highest level since the last quarter of 2020, when 47 companies defaulted on their debt. The ratings giant expects...
If politicians don’t listen to the CEOs and economists telling them to hurry up and resolve the debt-ceiling crisis, a more formidable master may intervene: the stock market. Business leaders attending this year’s Milken Institute Global Conference in Beverly Hills,...
U.S. Treasury Secretary Janet Yellen on Tuesday warned that failure by Congress to raise the government's debt ceiling – and the resulting default – would trigger an "economic catastrophe" that would send interest rates higher for years to come. Yellen,...
With online savings accounts and money market funds offering attractive returns for the first time in years, some investors may be considering increasing the cash holdings in their portfolios. Stock market returns have been volatile over the past year and...
Inflation has slowed and gross domestic product has revived , but most economists still expect a mild recession this year. In December, consumer prices rose 6.5% from a year earlier but that was down from a 40-year high of 9.1%...
More people are wondering just how safe their money is in a bank after the collapse of Silicon Valley Bank and Signature Bank. Online searches asking that question have jumped as Americans worry their bank could be the next to...
Silicon Valley Bank’s crisis and subsequent closure has rocked financial markets since late last week. In a bid to protect depositors and investors, federal regulators announced Sunday that they would “address any liquidity pressures that may arise.” Many people have...
A new report from Fidelity found that the number of 401(k) millionaires plunged by 32% in the last year. At a time of the disappearing pension, the 401(k) is for most workers the main source of old age security. Almost...
After much outside criticism, the Internal Revenue Service basically told taxpayers in most — but not all — states that they do not need to report income from special state tax refunds or payments on their 2022 federal income tax...
Inflation is hovering near a 40-year high, driven by steep increases in food prices, housing and utilities. The Federal Reserve is trying to bring it down by aggressively raising interest rates, even if it pushes the economy closer to a...
Not everyone is required to file taxes, but most Americans are and likely will file taxes. Of the 176.2 million individuals and married couples who could file a tax return in 2020, about 144.5 million of them filed a tax...
Kids change their minds a lot, so it’s understandable parents might be nervous to lock away money in a college savings plan. After all, what if your child decides to skip college or drop out? That money could’ve been spent...
Parents to adult kids across the U.S. are considering coming out of retirement or refinancing their homes in order to prop up their kids' bank accounts – and the cash requests are only going to keep coming. But when is...
