An acceleration in monthly core consumer prices seems likely to reinforce the Federal Reserve’ determination to raise interest rates to fight inflation, though the decision on next week’s move will be a tough call amid ongoing concern about financial turmoil....
In testimony before lawmakers on Tuesday, Federal Reserve Chair Jerome Powell told Congress interest rates would likely continue rising amid a 'bumpy' process to bring down inflation. Federal Reserve Chair Jerome Powell told lawmakers on Tuesday interest rates are likely...
Homebuyers started the year on a positive note when declining mortgage rates signaled increasing affordability. Mortgage applications rose 28% in one week in the middle of January as rates dipped to 6.2%. But that frenzy of activity was short-lived as...
When China’s leaders gather in Beijing for the annual parliament next week, one of the biggest economic risks they’ll need to tackle is the mounting debt of provinces. A majority of regional governments — at least 17 out 31 —...
The retail giant forecasts weaker sales “Choiceful, discerning, thoughtful.” That is how Walmart’s boss, Doug McMillon, described consumers on the American retail giant’s quarterly earnings call on February 21st. That may be so. What they are not, at least in...
Ever-increasing housing costs are not only straining budgets – they also are the biggest contributor to the nation's bump in inflation, according to a report released Tuesday by the Bureau of Labor Statistics. The consumer-price index, a widely used measure...
Federal Reserve Chair Jerome Powell said Tuesday that last week’s booming jobs report underscores why officials expect to approve additional interest rate hikes to tame inflation and similar data in the months ahead could require an even sharper rise in...
Vanguard investors are famous for staying invested — and accepting the market's and S&P 500's long-term returns. But if Vanguard's predictions are right, those future asset returns likely aren't what investors are hoping for. Just released 10-year forecasts from Vanguard...
During the pandemic, record numbers of people changed jobs. That heightens the risk that millions of people forgot to bring their retirement savings with them. The government and industry have plans to reunite those people with their lost funds. If...
The SECURE 2.0 Act, signed by President Biden in December 2022, includes dozens of changes to provisions related to tax-advantaged retirement accounts. Among the most important changes is a provision, which took effect Jan. 1 of this year, that delays...
A package of proposed changes to help Americans save more for retirement could soon be the law. The changes, part of the Secure Act 2.0, are included in the sweeping end-of-year spending bill that lawmakers probably will vote on in the...
Sam Bankman-Fried, the disgraced founder and former CEO of FTX, has had a bad week. A bad week that follows a bad month. Bankman-Fried, known as SBF in the crypto world, was arrested on Monday and charged by three different...
Even Americans with only modest retirement funds may be shocked to learn how many people are in desperate straits: as in, they have no nest egg at all. Recent research by the Federal Reserve shows that an astounding one in...
Aftershocks from the massive earthquake in the trillion-dollar crypto industry last week continued to reverberate on Monday. Prices of digital currencies fell again as the crisis engulfing the market deepened over the weekend. Bitcoin, the world’s biggest cryptocurrency, has plummeted...
The Pandemic Housing Boom unleashed an “investor mania” unlike anything seen in the U.S. housing market since the aughts housing bubble. Average Joes poured into the market in hopes of building Airbnb empires. Institutional investors, like Blackstone-owned Home Partners of...
