The Federal Reserve said Wednesday it will keep its benchmark interest rate near zero despite signs the economic recovery is well underway. But it’s clear rates won’t stay near rock-bottom forever. Recent data showing higher consumer prices and lower unemployment will pave the way for unwinding last year’s bond buying and near-zero interest rates. “Being 7.8 million jobs
Personal finance
Zoom In Icon Arrows pointing outwards Rising consumer costs have helped push the latest estimate for next year’s Social Security cost-of-living adjustment to 5.3%. Whether that will actually be the bump retirees see to their monthly checks in 2022 depends a lot on the economy, including whether the Federal Reserve decides to raise interest rates.
maybefalse | E+ | Getty Images You probably can come up with many things you’d rather do than spend time planning for your own death. However, there’s part of creating an estate plan that experts say deserves thoughtful consideration: choosing the individuals who will carry out the wishes in your will and who will make
Zoom In Icon Arrows pointing outwards For months, renter Sabrina Floyd waited with to hear if she and her family were approved for help from the Clark County rental assistance program in Las Vegas. She’d often ask her caseworker for updates, and would get the same reply: “Thank you for your continued patience during these
In this article DFS Fifty-six percent of travelers told Discover they’ll use contactless payment methods more often while on trips this year. martin-dm | E+ | Getty Images Most news about travel may have focused on health and safety since the pandemic hit over a year ago. However, cost and booking flexibility are now even
shapecharge | E+ | Getty Images For workers who lose track of their 401(k) savings accounts, help may be on the way. Proposed retirement legislation that’s pending in Congress would create an online “lost and found” database to help locate those accounts, among a variety of other provisions. While lawmakers are in the early stages
Personal finance expert Suze Orman likes bitcoin. Not as a currency, but as a long-term investment, the best-selling author told CNBC’s “Power Lunch” Monday. Back in April, she said she told listeners of her podcast, Women & Money (And Everyone Smart Enough To Listen), “Any money that you can afford to lose, then I don’t
Sue Barr | Image Source | Getty Images Come July 15, millions of American families will start receiving payments through the enhanced child tax credit that may amount to hundreds of dollars each month through the end of 2021. Yet some families eligible for the payments may decide that rather than receive the money now,
Erik Isakson | Tetra images | Getty Images Americans want their summer vacations. After a year of being pent up during the pandemic, 80% said they are ready to travel, according to a recent survey by tourism market research firm Destination Analysts. However, with that demand comes higher prices. Airline tickets are up 7% for
nortonrsx | iStock | Getty Images Not all debt is the same. So how should you decide which to repay first? Amid the coronavirus pandemic last year and ensuing economic recession, debt grew for many Americans. In 2020, consumer debt ballooned to a new high of $14.88 trillion, a 6% increase from the previous year,
Miami Beach, Florida Artur Debat | Moment | Getty Images Interest in travel is picking up as the pandemic winds down, and cooped-up Americans are itching to hit the road again, two recent surveys have found. Travelers are thinking about booking trips to warm and sunny domestic climes — be they Sun Belt cities or
kate_sept2004 | E+ | Getty Images Before you take out a mortgage or car loan, check your credit report. It may have a mistake that could cost you. It’s not as uncommon as you may think. More than one-third, or 34%, of Americans found at least one error on their credit report, according to a
Charlie Eaton Courtesy: Charlie Eaton The odds of student loan forgiveness happening have never been greater, experts say. Yet a number of large obstacles stand in the way, some practical and others ideological. Does the president have the authority to cancel the debt? Officials at the U.S. Department of Education and the U.S. Department of
In this article IRSA3-AR Samuel Corum/Bloomberg via Getty Images Jeff Lavigne plans to use a tax refund this year for long-delayed medical help. Yet his refund, almost $2,700, has been in limbo since mid-March, when Lavigne filed his tax return, records show. The IRS flagged the return for potential identity theft — as it did
The beach at Wildwood, New Jersey, on the Jersey Shore on May 27, 2021. Spencer Platt | Getty Images Certified public accountants have a message for New Jersey-based clients: It’s time to move to a lower-cost state. That’s according to a recent survey from the New Jersey Society of CPAs, which found that 70% of
Icicles hang off the State Highway 195 sign on Feb. 18, 2021 in Killeen, Texas. Joe Raedle | Getty Images The threat of climate change is shifting some older Americans’ retirement plans. Extreme weather such as hurricanes, flooding, freezing temperatures and wildfires has prompted some to rethink where they will spend their golden years. “Clients
People and students from Worker’s Circle of Boston and members of City Life Vida Urbana protest to rally support behind house bill HD3030, which seeks to stop evictions during the ongoing coronavirus pandemic, at the Massachusetts State House in Boston on March 14, 2021. Jim Davis | Boston Globe | Getty Images Sabrina Floyd doesn’t
Women would be among the biggest winners of student loan forgivness. Ines Fraile | iStock | Getty Images Certain critics of student loan forgiveness have argued that the policy would largely benefit the relatively well-off, pointing out that college degrees lead to higher earnings. However, new research finds that the biggest benefits of cancelling student
Jack Taylor | Getty Images News | Getty Images Cryptocurrency is known for volatility and some experts say crashes tend to happen on weekends. “This has been a phenomenon in crypto for several years,” said Stephen McKeon, associate professor of finance at the University of Oregon in Eugene, Oregon, and partner at Collab+Currency, a cryptocurrency-focused
Marijuana activists handed out free joints to vaccinated New Yorkers on April 20, 2021 in New York City. Washington state authorized similar programs in early June. ANGELA WEISS | AFP | Getty Images As Covid vaccination rates flatline or drop across the country, public and private concerns are increasingly turning to incentives — from free