The Federal Reserve is in no rush to lower its benchmark rate. Earlier expectations that the central bank was planning multiple cuts before the end of the year seem less likely. On the heels of Friday’s strong jobs report, Wednesday’s consumer price index increased at a faster than expected pace in March. Both suggest that inflation is staying
Personal finance
US President Joe Biden speaks about student loan relief at Madison College in Madison, Wisconsin, on April 8, 2024. Andrew Caballero-reynolds | AFP | Getty Images President Joe Biden on Monday unveiled a new student loan forgiveness plan — and any of that relief dispensed in 2024 wouldn’t trigger a federal tax bill. But borrowers
Riska | E+ | Getty Images It may be a while longer before the Federal Reserve lowers interest rates, experts now say. That means savers can still earn the best returns on their cash in years, following a “nuclear winter for the better part of the last 15 years,” said Greg McBride, chief financial analyst
If you’re having money problems, someone on TikTok has a solution. Between “cash stuffing,” the “100 envelope” method or the “no-spend” challenge, there’s no shortage of suggestions to better your financial standing. “The gamification can be kind of fun,” said Ted Rossman, senior industry analyst at Bankrate. But like any other quick fix, these can
President Joe Biden announced a new student loan forgiveness plan Monday, which when combined with his administration’s ongoing relief efforts could benefit tens of millions of borrowers. Narrower in scope than the first education debt relief effort that the Supreme Court ultimately blocked, Biden’s ”Plan B“ targets five specific groups of borrowers. Here’s the breakdown of who stands to benefit. 1. Borrowers
D3sign | Moment | Getty Images With one week until the April 15 federal tax deadline, the IRS has released an “important update” for Direct File, the agency’s free tax filing program. Since March 12, the pilot program has been fully open for certain filers in 12 states, and Direct File now allows users to
U.S. President Joe Biden waves as he departs for Baltimore from the White House in Washington, U.S., April 5, 2024. Kevin Lamarque | Reuters President Joe Biden will unveil his new plan to forgive student debt on Monday, less than a year after the Supreme Court blocked his initial attempt. Biden wants this aid package
Thomas Barwick A “silver tsunami” — with a record number of Americans expected to turn age 65 — is here. Americans who reach that milestone age face high-stakes financial decisions. Two of the most important choices retirees face — which Medicare health insurance coverage option to choose and when to claim Social Security benefits —
Taylor Swift performs onstage for the opening night of “Taylor Swift | The Eras Tour” at State Farm Stadium. Kevin Mazur | Getty Images Entertainment | Getty Images Revenge spending is not dead. Even as Americans owe $1.13 trillion on their credit cards, consumers are still willing to splurge on impulsive purchases. It’s a phenomenon also known as
Songsak Rohprasit | Moment | Getty Images The tax deadline is approaching and some filers are turning to chatbots powered by artificial intelligence for help with returns. But taxpayers should be wary of generative AI — which uses artificial intelligence to create content — for tax advice, experts say. Nearly 1 in 5 Americans would
U.S. President Joe Biden delivers remarks on canceling student debt at Culver City Julian Dixon Library on February 21, 2024 in Culver City, California. Mario Tama | Getty Images The Biden administration will soon roll out a sweeping new student loan forgiveness proposal that could impact millions of Americans. Despite its smaller scope than President
Now Hiring sign in a supermarket window in Queens, New York. Lindsey Nicholson/UCG/Universal Images Group via Getty Images The U.S. job market continues to chug ahead without signs of overheating — a good sign for workers and the U.S. economy, according to economists. While the market has cooled from its breakneck pace of the “great
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