The IRS released inflation-adjusted marginal rates and brackets for 2023 on Tuesday, and many workers will see higher take-home pay in the new year as less tax is withheld from their paychecks. Additionally, the agency released the standard deduction for...
The Fed's interest rate hike is supposed to give housing industry a "reset," yet brings uncertainy. Fed Chair Powell said in effort to cool "red-hot" housing market, it takes a "difficult correction." Expert: Housing inventory will remain tight in the...
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...
The firm will not be the last to come under pressure as economies wilt As interest rates rise and asset prices slump, investors are scrambling to identify the weakest links in the global financial system. Every bear market produces national...
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...
The average interest rate on the most popular U.S. home loan climbed to its highest level since August 2008, data from the Mortgage Bankers Association (MBA) showed on Wednesday. Rising mortgage rates are increasingly weighing on the interest-rate-sensitive housing sector...
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...
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...
