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Goods Deflation Is Back. It Could Speed Inflation’s Return to 2%.

After a historic run-up in inflation, Americans are now starting to see something they haven’t in three years: deflation. To be sure, deflation—that is, falling prices—is largely confined to appliances, furniture, used cars and other goods. Economywide deflation, when prices of most goods and services continuously… Read More »Goods Deflation Is Back. It Could Speed Inflation’s Return to 2%.

Fed’s favorite gauge shows inflation rose 0.2% in October and 3.5% from a year ago, as expected

KEY POINTS Inflation as measured by personal spending increased in line with expectations in October, possibly giving the Federal Reserve more incentive to hold rates steady and perhaps start cutting in 2024, according to a data release Thursday. The personal consumption expenditures price index, excluding… Read More »Fed’s favorite gauge shows inflation rose 0.2% in October and 3.5% from a year ago, as expected

You may be at risk for fraud this holiday season, particularly if you shop at the last minute. Here’s why

KEY POINTS Holiday shopping this year is expected to reach record spending levels, according to the National Retail Federation. But as consumers open their wallets, they may also be making themselves vulnerable to potential fraud, particularly when shopping at the last minute. “Procrastination is, quite frankly, one of… Read More »You may be at risk for fraud this holiday season, particularly if you shop at the last minute. Here’s why

Energized shoppers break one-day holiday sales record

(CNN) — Whether they jostled through brick-and-mortar stores or toggled between tabs and virtual carts, holiday shoppers were eager to participate in Black Friday this year. Both in-store and online retail sales increased year-over-year unadjusted for inflation, according to Mastercard’s SpendingPulse insights, which noted that apparel, jewelry and… Read More »Energized shoppers break one-day holiday sales record

Exclusive: US securities regulator signals it may curb climate rule ambitions

(Reuters) – U.S. Securities and Exchange Commission (SEC) officials have told lobbyists and corporate executives in recent days that the agency’s long-anticipated climate rules may scale back some of the most demanding greenhouse gas emissions disclosure requirements that it had proposed. At issue are so-called… Read More »Exclusive: US securities regulator signals it may curb climate rule ambitions

Fed gave no indication of possible rate cuts at last meeting, minutes show

Federal Reserve officials at their most recent meeting expressed little appetite for cutting interest rates anytime soon, particularly as inflation remains well above their goal, according to minutes released Tuesday.  The summary of the meeting, held Oct. 31-Nov. 1, showed that Federal Open Market Committee members… Read More »Fed gave no indication of possible rate cuts at last meeting, minutes show

Exclusive: US securities regulator signals it may curb climate rule ambitions

(Reuters) – U.S. Securities and Exchange Commission (SEC) officials have told lobbyists and corporate executives in recent days that the agency’s long-anticipated climate rules may scale back some of the most demanding greenhouse gas emissions disclosure requirements that it had proposed. At issue are so-called… Read More »Exclusive: US securities regulator signals it may curb climate rule ambitions

Turkeys are cheaper, but inflation is ‘clearly impacting’ Thanksgiving food costs, economist says. Here’s how to save

KEY POINTS Families preparing for Thanksgiving will find that turkeys are cheaper this year. The U.S. bird population recovered from last year’s avian flu, boosting supply and helping push down prices. This year, a 16-pound frozen whole turkey costs $27.35 on average, a 5.6% decrease from… Read More »Turkeys are cheaper, but inflation is ‘clearly impacting’ Thanksgiving food costs, economist says. Here’s how to save

The ‘Quiet Cutting’ Trend Is A Controversial Leadership Strategy, New Study Shows

There’s a lot of quiet action taking place under the radar in today’s business world. Quiet culture workplace trends—such as quiet firing, quiet quitting and quiet hiring—were intended to assuage the immediate and acute needs of businesses. Instead, they have backfired—creating suspicion, mistrust and low morale. Now, another controversial… Read More »The ‘Quiet Cutting’ Trend Is A Controversial Leadership Strategy, New Study Shows

These behavioral traits lead to greater retirement savings, research finds. Yet only 10% of workers have them

KEY POINTS People who find it easiest to financially prepare for retirement have four behavioral traits, a new survey shows. Yet just 10% of workers have all of these “optimal” characteristics, according to the survey findings, from Goldman Sachs Asset Management in collaboration with Syntoniq, a behavioral… Read More »These behavioral traits lead to greater retirement savings, research finds. Yet only 10% of workers have them

Inflation: Consumer prices were unchanged in October, core inflation rises at slowest pace since September 2021

Consumer prices were unchanged from the prior month in October as a drop in oil prices dragged down headline inflation while “core” inflation rose at the slowest annual pace since September 2021, according to the latest data from the Bureau of Labor Statistics released Tuesday morning. The… Read More »Inflation: Consumer prices were unchanged in October, core inflation rises at slowest pace since September 2021

Embracing authentic demand: The core of innovation leadership

What distinguishes true leaders from managers is their commitment to innovation. Indeed, managing any business is challenging and complex work. It includes facilitating transactions, meeting quality standards, ensuring team productivity and setting and achieving goals — all of which are a manager’s responsibility. But leadership… Read More »Embracing authentic demand: The core of innovation leadership

Private sector payrolls rose 113,000 in October, less than expected, ADP says

KEY POINTS Private sector payroll growth increased modestly in October but missed expectations, in a potential sign that the employment picture could be darkening, ADP reported Wednesday. The payrolls processing firm said that companies added 113,000 workers for the month, higher than the unrevised 89,000 in… Read More »Private sector payrolls rose 113,000 in October, less than expected, ADP says

Inflation adjustments to retirement account limits issued for 2024

The IRS announced the 2024 benefit and contribution limits for qualified retirement plans, including contributions limits for Sec. 401(k) plans and individual retirement arrangements (IRAs), Wednesday, increasing the limits on both by $500. Notice 2023-75 includes updates to dollar limits for a range of qualified retirement… Read More »Inflation adjustments to retirement account limits issued for 2024

Federal Reserve leaves its key rate unchanged but keeps open possibility of a future hike

WASHINGTON (AP) — The Federal Reserve kept its key short-term interest rate unchanged Wednesday for a second straight time but left the door open to further rate hikes if inflation pressures should accelerate in the months ahead. The Fed said in a statement after its latest meeting… Read More »Federal Reserve leaves its key rate unchanged but keeps open possibility of a future hike

Surge in interest rates and a cloudier economic picture to keep Federal Reserve on sidelines

WASHINGTON (AP) — The Federal Reserve is poised to leave its key interest rate unchanged Wednesday at a time when the Fed faces an economy that has proved resilient but is nevertheless under pressure from surging interest rates, overseas turmoil, and anxious investors. U.S. economic… Read More »Surge in interest rates and a cloudier economic picture to keep Federal Reserve on sidelines

Biden signs AI executive order, the most expansive regulatory attempt yet

President Biden signed a sweeping artificial intelligence executive order Monday, wielding the force of agencies across the federal government and invoking broad emergency powers to harness the potential and tackle the risks of what he called the “most consequential technology of our time.” The sprawling effort marks the… Read More »Biden signs AI executive order, the most expansive regulatory attempt yet

US consumers keep spending briskly even in the face of persistent inflation and high interest rates

WASHINGTON (AP) — An inflation gauge that is closely monitored by the Federal Reserve showed price increases remained elevated in September amid brisk consumer spending and strong economic growth. Friday’s report from the Commerce Department showed that prices rose 0.4% from August to September, the same as the… Read More »US consumers keep spending briskly even in the face of persistent inflation and high interest rates

‘As if they were never filed’: IRS outlines steps to withdraw ERC claims

Certain employers concerned about the accuracy of an employee retention credit (ERC) claim they filed now have a way to withdraw their claim and avoid future repayment, interest, and penalties. The IRS on Thursday released details of a special process for eligible employers to withdraw ERC claims… Read More »‘As if they were never filed’: IRS outlines steps to withdraw ERC claims

Americans Failed to Pay a Record $688 Billion in Taxes. The IRS Says That Will Change.

Americans didn’t pay an estimated $688 billion in taxes due on their 2021 returns—the largest shortfall ever. Audits and other enforcement will be stepped up to reduce the gap, the Internal Revenue Service said Thursday. The number includes $542 billion due to underreported income, with… Read More »Americans Failed to Pay a Record $688 Billion in Taxes. The IRS Says That Will Change.

Fed officials see ‘restrictive’ policy staying in place until inflation eases, minutes show

Federal Reserve officials at their September meeting differed on whether any additional interest rate increases would be needed, though the balance indicated that one more hike would be likely, minutes released Wednesday showed. While there were conflicting opinions on the need for more policy tightening,… Read More »Fed officials see ‘restrictive’ policy staying in place until inflation eases, minutes show

When Clients Claim Social Security Early, Take These Steps to Avoid Surprises

Most financial advisors recommend that clients wait to claim Social Security retirement benefits until full retirement age or up to age 70. That is sound advice. But since the COVID-19 pandemic, more baby boomers are electing to start benefits earlier.  When claiming before age 65, they inadvertently turn… Read More »When Clients Claim Social Security Early, Take These Steps to Avoid Surprises

‘You only get Social Security while you’re alive,’ expert says. What happens to benefits after you die

KEY POINTS Social Security retirement benefits provide guaranteed monthly income for the duration of your retirement. But when you die, your checks stop coming. “You only get Social Security while you’re alive,” said Bruce Tannahill, a director of estate and business planning with MassMutual. Surveys show retirees are… Read More »‘You only get Social Security while you’re alive,’ expert says. What happens to benefits after you die

Government shutdown averted with little time to spare as Biden signs funding before midnight

WASHINGTON (AP) — The threat of a federal government shutdown suddenly lifted late Saturday as President Joe Biden signed a temporary funding bill to keep agencies open with little time to spare after Congress rushed to approve the bipartisan deal. The package drops aid to Ukraine, a White… Read More »Government shutdown averted with little time to spare as Biden signs funding before midnight

47% of Americans say achieving retirement security will take a miracle. Why inflation is to blame

KEY POINTS Almost half of Americans, 47%, say achieving retirement security will take a miracle, according to a new survey from Natixis Investment Managers. That is up “quite a bit” from about 40% of respondents who said the same two years ago, according to Dave… Read More »47% of Americans say achieving retirement security will take a miracle. Why inflation is to blame

47% of Americans say achieving retirement security will take a miracle. Why inflation is to blame

KEY POINTS Almost half of Americans, 47%, say achieving retirement security will take a miracle, according to a new survey from Natixis Investment Managers. That is up “quite a bit” from about 40% of respondents who said the same two years ago, according to Dave… Read More »47% of Americans say achieving retirement security will take a miracle. Why inflation is to blame

The Fed’s preferred inflation measure stayed high in July — and consumers are continuing to spend

Minneapolis (CNN) — US inflation may have remained elevated in July, but consumers just wanted to have some fun. New Commerce Department data released Thursday showed that consumer spending jumped 0.8% last month as shoppers shelled out for restaurants, live shows, toys, games and recreational equipment. It’s the… Read More »The Fed’s preferred inflation measure stayed high in July — and consumers are continuing to spend

The Future of Financial Management in the Gig Economy: A New Era of Freelancer-Friendly Financial Management

Since even before the global coronavirus pandemic, hundreds of thousands of employees have shifted from the traditional nine to five job structure, instead embracing the flexibility and adaptability of the gig economy. Since the coronavirus pandemic led to record numbers of people working remotely from… Read More »The Future of Financial Management in the Gig Economy: A New Era of Freelancer-Friendly Financial Management

Credit card balances jumped in the second quarter and are above $1 trillion for the first time

KEY POINTS Americans increasingly turned to their credit cards to make ends meet heading into the summer, sending aggregate balances over $1 trillion for the first time ever, the New York Federal Reserve reported Tuesday. Total credit card indebtedness rose by $45 billion in the… Read More »Credit card balances jumped in the second quarter and are above $1 trillion for the first time

12 Cost-Cutting Strategies to Help You Thrive in a Slow Economy

Navigating economic downturns can be as crucial as riding the waves of prosperity. In a slow economy, where revenue streams may shrink, savvy entrepreneurs look inwards, seeking ways to unearth hidden profits through cost-cutting and efficiency-boosting strategies. Reducing expenses without hampering the quality of goods or services is an… Read More »12 Cost-Cutting Strategies to Help You Thrive in a Slow Economy

FASB proposes improvements to income statement expenses

FASB is seeking comments on a proposed Accounting Standards Update (ASU) that is intended to provide investors with more decision-useful information regarding a public business entity’s expenses. The ASU proposes changes to Subtopic 220-40, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures, which would require public… Read More »FASB proposes improvements to income statement expenses

GDP grew at a 2.4% pace in the second quarter, topping expectations despite recession calls

KEY POINTS The U.S. economy showed few signs of recession in the second quarter, as gross domestic product grew at a faster-than-expected pace during the period, the Commerce Department reported Thursday. GDP, the sum of all goods and services activity, increased at a 2.4% annualized rate for… Read More »GDP grew at a 2.4% pace in the second quarter, topping expectations despite recession calls

The Top 3 Do’s and Don’ts of Integrating ChatGPT into Your Business

You’ve probably heard a lot about the benefits of ChatGPT lately. There is no doubt that it’s everywhere now. Individuals use it regularly to streamline daily tasks in their personal and professional lives. And more and more companies across industries are finding new applications for the technology every day.… Read More »The Top 3 Do’s and Don’ts of Integrating ChatGPT into Your Business

Big Four Accounting Firms Pare Their Consultant Ranks in Postpandemic Reversal

The Big Four accounting firms are trimming their consulting ranks—sometimes months after a promotion—after forecasting slower growth as more businesses scale back on third-party help in certain areas.  The firms—Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers—are facing the consequences of aggressive hiring over the past… Read More »Big Four Accounting Firms Pare Their Consultant Ranks in Postpandemic Reversal

Inflation rose just 0.2% in June, less than expected as consumers get a break from price increases

KEY POINTS Inflation fell to its lowest annual rate in more than two years during June, the product both of some deceleration in costs and easy comparisons against a time when price increases were running at a more than 40-year high. The consumer price index,… Read More »Inflation rose just 0.2% in June, less than expected as consumers get a break from price increases

First-quarter economic growth was actually 2%, up from 1.3% first reported in major GDP revision

KEY POINTS The U.S. economy showed much stronger-than-expected growth in the first quarter than previously thought, according to a big upward revision Thursday from the Commerce Department. Gross domestic product increased at a 2% annualized pace for the January-through-March period, up from the previous estimate of… Read More »First-quarter economic growth was actually 2%, up from 1.3% first reported in major GDP revision

Why Economies Haven’t Slowed More Since Central Banks Hit the Brakes

The world’s central banks raced at an extraordinary pace over the past year to cool inflation, but it hasn’t proved enough—yet. Economic growth remains mostly solid and price pressures strong across affluent countries despite sharply higher interest rates. Why haven’t growth and inflation slowed more? Much of the… Read More »Why Economies Haven’t Slowed More Since Central Banks Hit the Brakes

57% of people are uncomfortable with their level of emergency savings. Here’s how much they think they need

KEY POINTS Having ample cash set aside can help prevent an unexpected emergency from turning into a financial catastrophe. But when it comes to emergency savings, more than half of Americans — 57% — are uncomfortable with the level of money they have set aside, according to… Read More »57% of people are uncomfortable with their level of emergency savings. Here’s how much they think they need

Historic global standards for sustainability reporting released

In a milestone moment for the creation of a global common language for sustainability reporting, the International Sustainability Standards Board (ISSB) on Monday issued its first two standards. IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2, Climate-related Disclosures have an effective date of Jan. 1… Read More »Historic global standards for sustainability reporting released

Powell expects more Fed rate hikes ahead as inflation fight ‘has a long way to go’

KEY POINTS Federal Reserve Chairman Jerome Powell on Wednesday affirmed that more interest rate increases are likely ahead until additional progress is made on bringing down inflation. Speaking a week after Federal Open Market Committee officials decided for the first time in more than a year not to push… Read More »Powell expects more Fed rate hikes ahead as inflation fight ‘has a long way to go’

It’s official: Student loan payments will restart in October, Education Department says

KEY POINTS Over the three-year-long pause on student loan payments, the U.S. Department of Education has repeatedly told borrowers their bills were set to resume, only to take it back and provide them more time. This time, however, the agency really means it. The Education Department posted… Read More »It’s official: Student loan payments will restart in October, Education Department says

Goldman Sachs cuts China growth forecast as property slowdown bites

(Reuters) – Goldman Sachs (GS.N) analysts have cut forecasts for China’s economic growth, citing persistently weak confidence and the cloud over the property market as stronger-than-expected headwinds. The U.S. investment bank lowered its full-year real gross domestic product growth forecast for the world’s second biggest economy from… Read More »Goldman Sachs cuts China growth forecast as property slowdown bites

‘Great Resignation’ continues as quarter of workers look to change jobs, PwC says

(Reuters) – A quarter of workers surveyed by PwC expect to change jobs in the next 12 months, up from 19% last year, as they are increasingly left cash-strapped in a cooling economy while dealing with inflationary pressures. Even as the ‘Great Resignation’ continues, around… Read More »‘Great Resignation’ continues as quarter of workers look to change jobs, PwC says

Bank of America expects Fed to deliver two more rate hikes, JP Morgan adds July hike expectation

(Reuters) – BofA Global Research now expects two more quarter percentage point interest rate hikes from the U.S. Federal Reserve this year, while JP Morgan sees one more hike in July, after the central bank signaled further raises may be needed. BofA’s new terminal rate… Read More »Bank of America expects Fed to deliver two more rate hikes, JP Morgan adds July hike expectation

Nearly all Americans cut back on spending due to inflation, CNBC survey finds

KEY POINTS Nearly all Americans are cutting back on their spending in some way, according to a new CNBC and Morning Consult survey. The survey found 92% of Americans are pulling back, further evidence of what retailers like Walmart, Target, Home Depot, and Best Buy called out as cautious consumer spending… Read More »Nearly all Americans cut back on spending due to inflation, CNBC survey finds

What does it take to be wealthy? Well-being is a more important measure than money or assets, survey finds

KEY POINTS Many Americans feel wealthy — but don’t necessarily measure it in dollars and cents. Well-being, not money, has become the leading measure of wealth for most adults today, according to the new Charles Schwab Modern Wealth Survey. It takes an average net worth of $2.2 million to… Read More »What does it take to be wealthy? Well-being is a more important measure than money or assets, survey finds

What is the projected COLA for 2024? Social Security recipients may see it shrink more.

Slowing inflation is cheered by most people, but for Social Security recipients, it’s a double-edged sword.  Annual inflation cooled in May to 4%, the smallest rise since March 2021 and well off the peak of 9.1% in June last year. Energy prices fell 11.7% over that time frame, helping… Read More »What is the projected COLA for 2024? Social Security recipients may see it shrink more.

Inflationary pressures continue to ease, producer prices drop 0.3% from April to May

WASHINGTON (AP) — Wholesale prices in the United States dropped 0.3% from April to May, another sign that inflationary pressures continue to ease in the face of repeated interest rate hikes by the Federal Reserve. The Labor Department’s producer price index — which measures inflation… Read More »Inflationary pressures continue to ease, producer prices drop 0.3% from April to May

Cases of check fraud escalate dramatically, with Americans warned not to mail checks if possible

NEW YORK (AP) — Check fraud is back in a big way, fueled by a rise in organized crime that is forcing small businesses and individuals to take additional safety measures or to avoid sending checks through the mail altogether. Banks issued roughly 680,000 reports… Read More »Cases of check fraud escalate dramatically, with Americans warned not to mail checks if possible

How AI Is Transforming the Accounting Industry — and What the Future Will Look Like

You can’t survive in a fast-paced environment without financial management — there is no argument with that. Bookkeeping is the key to surviving that environment. Historically, bookkeeping has been a labor-intensive and time-consuming process. We are going to see a sweeping shift in how our early adopters… Read More »How AI Is Transforming the Accounting Industry — and What the Future Will Look Like

Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed

KEY POINTS Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index, which measures a variety of goods and… Read More »Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed

Share of six-figure earners living paycheck to paycheck jumps, report finds. Advisor offers ways to break the cycle

KEY POINTS Even as inflation cools, consumers still show signs of strain. As of April, the share of adults feeling stretched too thin held nearly steady at 61%, according to a new LendingClub report. However, high-income earners are increasingly under pressure, LendingClub found. Of those earning more than… Read More »Share of six-figure earners living paycheck to paycheck jumps, report finds. Advisor offers ways to break the cycle

Women need financial freedom to ‘live on their terms,’ advisor says. These 3 strategies can help

KEY POINTS When it comes to managing money, women face unique challenges. Women tend to live longer than men, which means they need their money to last for a longer period of time, according to Kamila Elliott, a certified financial planner and co-founder and CEO of Collective Wealth Partners in… Read More »Women need financial freedom to ‘live on their terms,’ advisor says. These 3 strategies can help

IRS flagged more than 1 million tax returns for identity fraud in 2023

KEY POINTS The IRS flagged more than 1 million tax returns for potential identity theft during the 2023 tax season, according to the U.S. Department of the Treasury, signaling that such fraud continues to be a pervasive problem for taxpayers. Tax-related identity theft occurs when criminals use a taxpayer’s… Read More »IRS flagged more than 1 million tax returns for identity fraud in 2023

Here’s how much emergency savings you need amid economic uncertainty, according to financial advisors

KEY POINTS An emergency fund is a key piece of your financial plan, especially amid economic uncertainty. But the right amount of cash depends on your household and occupation, according to financial experts. Most Americans aren’t prepared for a financial emergency, according to a recent CNBC/Momentive survey of more than… Read More »Here’s how much emergency savings you need amid economic uncertainty, according to financial advisors

Wholesale prices rose just 0.2% in April, less than estimate as inflation pressures ease

KEY POINTS Wholesale prices rose less than expected in April, according to a Labor Department report Thursday that provides more hope that inflation is at least trending lower. The producer price index, a measure of prices for final demand goods and services, increased 0.2%, against the… Read More »Wholesale prices rose just 0.2% in April, less than estimate as inflation pressures ease

Earnings season: Low expectations make it like getting ‘9th place ribbon’ says analyst

Corporate results this quarter have mostly outpaced expectations, but accusations of so-called ‘sandbagging’ remind one strategist of an early 2000s comedy. “It’s a little like in Meet the Parents” says JJ Kinahan, IG North America CEO, reminding us how Ben Stiller’s character won “the 9th place… Read More »Earnings season: Low expectations make it like getting ‘9th place ribbon’ says analyst

Powell’s Bet Against Recession Looks Good — Minus the Credit Crunch and a DC Standoff

Federal Reserve Chair Jerome Powell reckons the US economy can skirt recession. But the odds are stacked against him — thanks to banking, politics, and even the weather. In Powell’s view, the gravity-defying strength of American labor markets — on display again in jobs data published Friday, which… Read More »Powell’s Bet Against Recession Looks Good — Minus the Credit Crunch and a DC Standoff

Fed recap: Here are Chair Powell’s market-moving comments after the latest rate hike

The Federal Reserve raised interest rates by a quarter of a percentage point, bringing the benchmark funds rate to 5% to 5.25%. In its post-meeting statement, the central bank appeared to soften its language on future rate increases, removing a line on “additional policy firming.”… Read More »Fed recap: Here are Chair Powell’s market-moving comments after the latest rate hike

IRS returns to in-person public hearings; telephone still an option

With COVID-19 no longer considered a national emergency, the IRS will return to in-person public hearings for proposed regulations with a telephone option available. The IRS said Friday in Announcement 2023-16 that the change applies to public hearings for proposed regulations published in the Federal Register after May 11. Announcement… Read More »IRS returns to in-person public hearings; telephone still an option

U.S. GDP rose at a 1.1% pace in the first quarter as signs build that the economy is slowing

KEY POINTS Growth in the U.S. slowed considerably during the first three months of the year as interest rate increases and inflation took hold of an economy largely expected to decelerate even further ahead. Gross domestic product, a measure of all goods and services produced… Read More »U.S. GDP rose at a 1.1% pace in the first quarter as signs build that the economy is slowing

High-yield savings accounts surge amid shaky stock market, experts say

Tech giant Apple last week announced a buzzy product release — but it wasn’t a new version of its iPhone or virtual reality headset. Rather, the company offered its first ever high-yield savings account. The move reflects growing demand for returns on savings as a topsy-turvy stock market, looming recession fears, and… Read More »High-yield savings accounts surge amid shaky stock market, experts say

More Than 25% of the Companies That Merged With SPACs During the Boom Are Penny Stocks Now

Buzzfeed isn’t the only company that merged with a SPAC that’s hurting. Of the 365 companies that listed publicly through a SPAC merger between 2020 and 2022, 100—or 27%—were penny stocks trading below $1 as of Thursday’s close, according to data firm SPAC Research. Among the… Read More »More Than 25% of the Companies That Merged With SPACs During the Boom Are Penny Stocks Now

74% say they can’t count on Social Security when planning for retirement. Here’s what not to do

KEY POINTS Negative headlines about Social Security’s future may be affecting how prepared people feel when it comes to their own retirement. Almost three-quarters, 74%, of people say they cannot count on Social Security benefits when it comes to the money they will have in retirement, according to a… Read More »74% say they can’t count on Social Security when planning for retirement. Here’s what not to do

As inflation starts to subside, a lower Social Security cost-of-living adjustment for 2024 may be on the horizon

KEY POINTS New government inflation data shows inflation is cooling — and that could point to a lower cost-of-living adjustment, or COLA, for Social Security beneficiaries next year. The Consumer Price Index for all Urban Consumers, or CPI-U, rose 5% from a year ago and 0.1% in March, according… Read More »As inflation starts to subside, a lower Social Security cost-of-living adjustment for 2024 may be on the horizon

Inflation rises just 0.1% in March and 5% from a year ago as Fed rate hikes take hold

KEY POINTS Inflation cooled in March as the Federal Reserve’s interest rate increases showed more impact, the Labor Department reported Wednesday. The consumer price index, a widely followed measure of the costs for goods and services in the U.S. economy, rose 0.1% for the month against… Read More »Inflation rises just 0.1% in March and 5% from a year ago as Fed rate hikes take hold

Social Security trust funds depletion date moves one year earlier to 2034, Treasury says

KEY POINTS The Social Security trust funds that about 67 million Americans rely on for benefits are scheduled to be depleted in 2034, one year earlier than was projected last year, according to the annual trustees’ report released by the Treasury Department on Friday. Unless Congress takes action, at… Read More »Social Security trust funds depletion date moves one year earlier to 2034, Treasury says

Here’s what the Federal Reserve’s 25 basis point interest rate hike means for your money

KEY POINTS The Federal Reserve raised the target federal funds rate by a modest 0.25 percentage points on Wednesday, after nearly two weeks of turmoil in the financial industry. Still, this marks the ninth consecutive increase in one year since the central bank began the current rate-raising cycle… Read More »Here’s what the Federal Reserve’s 25 basis point interest rate hike means for your money