A customer purchases lemons at a supermarket on April 12, 2022 in San Mateo County, California. Liu Guanguan | China News Service | Getty Images Federal Reserve Chair Jerome Powell may have said it best when he addressed the public at a Wednesday press event following the Federal Open Market Committee’s half-point rate hike. “Inflation
Personal finance
Parents and children participate in a demonstration organized by the ParentsTogether Foundation in support of the child tax credit portion of the Build Back Better bill outside of the U.S. Capitol on Dec. 13, 2021. Sarah Silbiger | Bloomberg | Getty Images Sen. Bernie Sanders, I-Vt., took to the Senate floor Wednesday to decry the
Sen. Tommy Tuberville, R-Ala., is seen in the U.S. Capitol during a Senate vote on Feb. 10, 2022. Tom Williams | Cq-roll Call, Inc. | Getty Images The federal government has no business interfering with the ability of American workers to invest their 401(k) plan savings as they see fit. Sadly, that’s not the Biden
New York State Attorney General Letitia James speaks during a “Defend Democracy” rally, taking place on the first anniversary of the January 6, 2021 attack on the U.S. Capitol, in Brooklyn, New York, U.S., January 6, 2022. Brendan McDermid | Reuters Eight attorneys general, including those of New York, Illinois and Washington state, wrote a
Guido Mieth | DigitalVision | Getty Images Catch-up contributions for retirement savers could get more generous for certain savers, if legislation proposed in Congress becomes law. But the benefits of the increased limits will likely be concentrated among higher-income plan participants. Today, preretirees ages 50 and up can put away an extra $6,500 toward retirement
JohnnyGreig | E+ | Getty Images When stocks gyrate, stock investors invariably hear this advice: “Stay the course.” In other words, don’t sell in a gut reaction; stick to your financial plan. This counsel generally makes sense for long-term investors. Stocks are likely to recoup losses by the time owners need the money many years
Peter Dazeley | The Image Bank | Getty Images The pandemic-era trend known as the “Great Resignation” is still red-hot, as workers enjoy the perks of record-high demand for their labor. However, economic headwinds mean those benefits may not last much longer, according to economists. A record 4.5 million workers quit their jobs in March,
Chairman Sherrod Brown (D-OH) questions Treasury Secretary Janet Yellen and Federal Reserve Chairman Powell during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington, DC, September 28, 2021. Kevin Dietsch | Pool | Reuters A bill to change Supplemental Security Income benefits for
Camille Tokerud Photography Inc. | Stone | Getty Images A federal benefits program for blind, disabled and elderly individuals could get a long-overdue update if a proposal in Washington is approved. Two Ohio senators — Democrat Sen. Sherrod Brown and Republican Sen. Rob Portman — have teamed up to introduce a bill to update the
President Joe Biden returns to the White House from a day trip to Minneapolis on May 1, 2022. Stefani Reynolds | AFP | Getty Images President Joe Biden recently said that he’d be making his decision around student loan forgiveness within weeks. That means borrowers uncertain of the future of their debt, who’ve been hearing
Choreograph | iStock | Getty Images For Medicare beneficiaries wondering whether their Part B premiums could be reduced, the waiting continues. More than three months after Health and Human Services Secretary Xavier Becerra ordered a reassessment of this year’s $170.10 standard monthly premium — a bigger-than-expected jump from $148.50 in 2021 — it remains uncertain
Golibtolibov | Istock | Getty Images Taxing the wealthy is a big topic in Washington these days. President Joe Biden recently proposed in his 2023 annual budget a so-called billionaire minimum income tax that would increase levies on the country’s wealthiest households. Under the plan, people with a net worth of $100 million or more
Luis Alvarez | Digitalvision | Getty Images The surge in worker pay that was a key feature of the 2021 labor market showed signs of fading early this year, as businesses’ demand for workers has moderated a bit from last year’s record levels. Wages and salaries in the private sector grew by 5% in the
miodrag ignjatovic | E+ | Getty Images If you have a Medicare supplement plan — aka, Medigap — there may be times when it’s worth making sure it’s still the best fit for you. Medigap policies are standardized — same-named plans offer identical benefits no matter which private insurance company sells it — but the
Getty Images If you’re eligible for health savings account contributions, you can deposit more money starting in 2023, thanks to an inflation adjustment from the IRS. In 2023, you can save up to $3,850 with an individual health insurance plan, up from $3,650 in 2022, the IRS announced Friday. And you can soon contribute up
Georgia Governor Brian Kemp makes remarks during a visit to Adventure Outdoors gun shop as he pushes for a new state law to loosen requirements to carry a handgun in public, in Smyrna, Georgia, January 5, 2022. Alyssa Pointer | Reuters High school students in Georgia will soon have guaranteed access to a personal finance
Mint Images | Mint Images Rf | Getty Images Americans may be getting more information about a big financial choice regarding pension benefits. Pension plans traditionally pay retirees monthly streams of income that last for the rest of their lives. Companies may also offer a lump sum to current and former employees, allowing them to
U.S. President Joe Biden announces additional military and humanitarian aid for Ukraine as well as fresh sanctions against Russia, during a speech in the Roosevelt Room at the White House in Washington, April 28, 2022. Evelyn Hockstein | Reuters President Joe Biden said on Thursday that he’ll have his answer on student loan forgiveness within
Westend61 Whether you got a refund or owed money this tax season, it’s never too soon to start thinking about next year’s bill. Boosting your 401(k) contributions for 2022 may provide two benefits: reducing your adjusted gross income while also padding your retirement savings. What’s more, there’s a higher 401(k) employee deferral limit for 2022,
President Joe Biden delivers remarks on the jobs report for the month of March from the State Dining Room of the White House on April 1, 2022 in Washington, DC. Anna Moneymaker | Getty Images News | Getty Images The tens of millions of Americans saddled with student loans may finally hear soon what the
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