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The Federal Reserve just raised interest rates again — here’s why your savings account’s APY may increase
Interest rates were raised by the Fed for the fourth time this year to help combat high inflation. Source: Getty Images Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a...
Here’s how advisors are shifting clients’ portfolios
as the Federal Reserve again hikes rates by 75 basis points KEY POINTS The Federal Reserve on Wednesday enacted its second consecutive three-quarters of a percentage point interest rate increase to combat soaring inflation. Some advisors have shifted stock...
Teen workers in a hot summer job market
can use the ‘greatest money-making asset’ to their advantage, says CPA KEY POINTS For teenagers looking for summer work, opportunities — and wages — are looking up. Here’s how they can make the most of their first paycheck. For years, fewer teenagers were looking...
5 lessons from the bear market
5 lessons from an ugly 6 months Over the July 4th holiday weekend, investors were bombarded with headlines announcing “the stock market’s worst first-six-months in 50 years” and “Tech stocks lose $1.6 trillion in worst streak in six months.”…
Here’s how much the value of your Social Security check is likely to go up next year
Anyone on a fixed income has been hit hard by inflation Good news ahead? Good news. Sort of. If you’re retired or just about to retire, next year’s Social Security checks are likely to see one of the biggest bumps on record as a result of surging consumer prices. The...
10 things to talk about with your financial adviser
Use these discussion points in your midyear review. GETTY IMAGES/ISTOCKPHOTO Given today’s challenging markets and unprecedented economic circumstances, a midyear review of your investments and wealth plan takes on a heightened sense of urgency this year. Stock prices...
74% of consumers are concerned about a recession:
5 steps you can take now to prepare
Recession. Millions of layoffs. Mass unemployment.
Hornet’s nest stirred up by Larry Summers’s latest forecast. Prominent Democratic economist sees significant danger for the economy ahead Wall Street scene,1929. - AFP VIA GETTY IMAGES Talk of recession and mass unemployment is all over the news — and former...
Powell says U.S. economy can handle the additional rate hikes that are coming
Fed has ‘the resolve it will take’ to tackle inflation Federal Reserve Chairman Jerome Powell delivers remarks at a conference last week KEVIN DIETSCH/GETTY IMAGES Federal Reserve Chairman Jerome Powell on Wednesday pushed back against economists who argue that...
These 5 charts reveal the craziness of housing market through the pandemic —
and it is not over but The housing market is lastly catching a breath after a two-year dash. These 5 charts break down how the frenzy unfolded. The charts, printed in a report referred to as the ‘State of the Nation’s Housing 2022’ by Harvard Joint Middle for...
15 Ways Consumers Can Deal With
LARS LEETARU — and Even Benefit From — Rising Inflation Among the tactics: calculate your personal inflation rate and buy the car you’re leasing There are things we can do to mitigate the impact of inflation on our wallets, budgets and investments. We are...
Worried about the Fed’s latest rate hike?
The Marriner S. Eccles Federal Reserve Board Building in Washington, D.C. Sarah Silbiger | Reuters Here's what advisors say about managing your money The Federal Reserve on Wednesday hiked its benchmark interest rate by 0.75 percentage points, the largest increase in...