All eyes are on the Federal Reserve as the central bank kicks off a two-day policy meeting Tuesday, as officials are widely expected to raise short-term interest rates by three-quarters of a percentage point at the conclusion of their meeting...
Soaring consumer prices aren't fading as quickly as hoped. Inflation in August remained near 40-year highs, defying forecasts of a sharper decline and squeezing the budgets of millions of Americans who are struggling to cover basic costs like food, gas...
Crypto and related assets dropped Tuesday following the August inflation report that showed prices rose more than anticipated, signaling that the Federal Reserve is likely to hike interest rates by another 0.75% next week. Bitcoin dangled above its crucial $20,000...
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...
The Federal Reserve is committed to bringing inflation down to its 2% goal, which means interest rates will continue to rise, Federal Reserve Chairman Jerome Powell said in a speech at a conference on Friday. But by how much more...
A look at the day ahead in U.S. and global markets from Mike Dolan. If the Federal Reserve was irked about a premature easing of financial conditions this summer, then it's successfully shut down the party. Fed chief Jerome Powell's...
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...
Rent is the new gas. Surging rent prices – instead of gas – are now hitting consumers hard, according to data from Bank of America Institute. Median rent payments for Bank of America customers increased by 7.4% year over year...
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...
Market Review If you recall from our Q1 2022 newsletter, our economy has been experiencing booming demand, supply-chain interruptions, an ensuing Russia-Ukraine war, and rising interest rates, all of which have contributed to notable market volatility. Well, the volatility has...
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...
Contract closings fell 5.4% in June, more than forecast Median selling price rose to a fresh record of $416,000 Sales of previously owned US homes fell in June to a two-year low as a surge in borrowing costs continues to...
