While the latest inflation data has caused unease among investors, it is crucial to note that there are certain categories of goods and services that have shown deflationary trends. This drop in prices has predominantly been observed in physical goods such as cars, furniture, and appliances, along with some food and energy-related products. Sarah House,
Personal
The recent release of new government inflation data indicates a higher-than-expected rise in inflation, with the consumer price index (CPI) increasing by 3.5% from a year ago and 0.4% for the month. This uptick in prices is not a shock to consumers who have been grappling with the burden of rising costs. The CPI monitors
The Biden administration is moving forward swiftly with a new student loan forgiveness plan, aiming to begin relieving people of their debts as early as this fall. This initiative is seen as a crucial step in the lead-up to the next presidential election, as it tackles issues that sharply differentiate Democrats from Republicans. According to
When it comes to filing your taxes, time management is crucial. Many Americans find themselves overwhelmed and unprepared to file their taxes on time. According to a recent survey, 1 in 4 Americans admit to feeling unprepared, with 29% confessing to procrastinating. This is where filing for a federal tax extension can come in handy.
Recent data from the Consumer Price Index in March showed an unexpected rise in inflation, which has led to the Federal Reserve taking a cautious approach towards lowering its benchmark rate. Earlier predictions of multiple rate cuts this year are now less likely as the central bank keeps an eye on inflation trends. Mark Higgins,
The Federal Deposit Insurance Corporation (FDIC) recently implemented new requirements for deposit insurance for trust accounts, which may have an impact on depositors with over $250,000 in deposits. While the changes are intended to simplify insurance coverage rules for trust accounts, they may inadvertently push some depositors over FDIC limits. Under the new rules, trust
The IRS recently released an “important update” regarding their Direct File pilot program, which aims to simplify the tax filing process for eligible individuals. This program, available in 12 pilot states, now allows users to import key details necessary to verify their returns before filing. However, there are still limitations and challenges that filers may
President Joe Biden is set to unveil a new plan to forgive student debt, less than a year after his initial attempt was blocked by the Supreme Court. This time around, Biden is aiming to create a plan that will withstand any legal challenges. The new program is more targeted, focusing on specific groups of
President Joe Biden is set to unveil a far-reaching student loan forgiveness plan that has the potential to benefit millions of Americans. The revamped aid package is expected to be disclosed during an event in Madison, Wisconsin. Following the Supreme Court’s rejection of his initial attempt to eliminate up to $20,000 in student debt per
The “silver tsunami” phenomenon is looming large, with a substantial number of Americans reaching the age of 65 every day. This phase, termed as “peak 65,” brings with it a myriad of challenges, especially in terms of financial planning and decision-making. As the traditional three-legged stool of retirement planning erodes, individuals are left to navigate