Mario Tama | Getty Images Inflation remains steady in September, but economists predict a continued gradual decrease in price pressures in the coming months. The U.S. Bureau of Labor Statistics reported that the consumer price index (CPI) rose by 3.7% compared to the same period last year, the same rate as in August. This latest …
Lawmakers and regulators are pushing for measures to address the rising debt levels and high interest rates on credit cards. In the second quarter of 2023, total credit card debt surpassed $1 trillion for the first time ever. The average interest rate for cardholders reached over 21% in August, the highest on record. Some cards …
The U.S. Department of Labor building in Washington, D.C. The Washington Post | The Washington Post | Getty Images Experience a Surge of Rollovers to IRAs In 2022, IRAs accumulated approximately $11.5 trillion, nearly double the $6.6 trillion in 401(k) plans, as reported by the Investment Company Institute. The Investment Company Institute also stated that …
A global bond market selloff has significant implications for Canadian households and investors. Financial markets are readjusting their long-term expectations for interest rates, and this has led to a surge in bond markets around the world. Yields on the benchmark 10-year U.S. Treasury bond have hit a 16-year high, while the S&P 500 has reached …
Are you struggling to secure a mortgage due to high home prices and interest rates? You’re not alone. According to a recent report by the Consumer Financial Protection Bureau (CFPB), lenders denied loan applications because of “insufficient income” more frequently than ever before. In fact, 9.1% of all home purchase applications were denied in 2022, …
“Financial inclusion,” which refers to individuals and businesses having access to affordable and beneficial financial products, has experienced a decline in the United States, based on recent industry research. In the second annual Global Financial Inclusion Index compiled by the Centre for Economics and Business Research in London and Principal Financial Group based in Des …
The Powerball jackpot reached a staggering $1.2 billion on October 3, 2023, making it the third-largest prize in the history of the game. Scott Olson | Getty The Powerball jackpot has soared to an estimated $1.2 billion, claiming its spot as the third-largest prize ever offered in the game’s history. Monday night’s drawing failed to …
Hinterhaus Productions | The Image Bank | Getty Images The job market remains strong despite gradual cooling from pandemic-era highs, according to labor economists — but workers don’t seem to share that outlook. Employee confidence fell last month to its lowest level since 2016, according to Glassdoor data. About 46% of workers reported a positive …
Supreme Court Case with Potential to Gut Consumer Watchdog Agency Supreme Court Case with Potential to Gut Consumer Watchdog Agency By [Author Name] [Publication Date] The Supreme Court is gearing up to hear oral arguments in a case that could have serious consequences for the Consumer Financial Protection Bureau (CFPB), an agency established in response …
Courtneyk | E+ | Getty Images Americans face a potential shortfall in their retirement savings, putting them at risk financially. One factor that contributes to this is lifestyle creep, where people upgrade their lifestyle as their income increases. However, one particular upgrade – buying a second home – can be extremely risky for long-term financial …