The Fed and the stock market are set for a showdown this week. What’s at stake.
Let’s get ready to rumble.The Federal Reserve and investors appear to be locked in what one veteran market watcher has described as an epic game of “chicken.” What Fed Chair Jerome Powell says Wednesday could determine the winner. Here’s the conflict. Fed policy makers have steadily insisted that the fed-funds rate, now at 4.25% to […]
Fed Debates Whether Wages or Low Unemployment Will Drive Inflation
Fed officials face a fork in the road when forecasting inflation: Focus on moderating wage and price trends or persistently low unemployment? Source link
IAG shares fall in Australia after massive flooding in New Zealand
SYDNEY — Shares in Insurance Australia Group Ltd. IAG, -3.74% fell early Monday after the general insurer said that claims in New Zealand will likely rise after severe storms and flooding around Auckland, and that it may review its natural peril costs for fiscal 2023. The stock was down 4.5% to 4.88 Australian dollars (US$3.45), […]
Getting divorced? 3 financial obstacles couples face now
January is traditionally known as “divorce month” because couples stick out the holidays and then call lawyers as soon as they get back to work in the new year. But after a financially brutal 2022, many couples that want to call it quits are having a hard time with the math. “Everything is topsy-turvy. There’s […]
I ruined my family’s finances by withdrawing from my 401(k) to buy a house — and I regret it
I recently made a panic decision to withdraw all my money from one retirement account and I am now closing on a house in February (about $200,000). I am 36 years old, married and have a 1-year-old. Half of me is regretting it, and I’m worried about next year’s taxes due to the withdrawal and […]
The effects of inflation may be felt for decades to come: Americans are hitting pause on retirement savings
Most of us are feeling the pain of inflation now, but the rising cost of almost everything may be impacting our future selves as well: People are cutting back on saving for retirement as a result of inflation. The majority of Americans say current financial issues are more pressing than preparing for the future. Two […]
Retiring early can trigger financial shortfall
Retiring three years earlier than expected significantly increases the chances of not meeting retirement income needs, putting greater emphasis on the benefits of working longer or working part time in retirement years. Each year of early retirement before age 65 significantly increases the chance of running out of money in retirement, according to new research […]
‘This has bugged me all my life’: My estranged father gave me $1,000 a month to buy a house in California. My brother cried foul, and told me to stop. Who’s right?
This has bugged me all my life. My father left my family when I was 7. I’m not sure how much in child support he paid my mother. Soon after I graduated college, he visited me for the first time since he left the family. He told me that he wanted to send me money […]
All the ways Wall Streeters are suffering from slashed bonuses
The princes of Wall Street are losing their crowns and tightening their belts.Massive layoffs and diminished bonus checks promise to put a crimp in the high-flying styles of stock brokers, money managers, investment bankers and once-untouchable hedge-fund geniuses. Bloomberg BusinessWeek described Wall Street as being in “retrenchment mode.” Thousands of layoffs either came or are coming and […]
U.S. consumer sentiment strengthens in final January reading
The numbers: U.S. consumer sentiment improved in late January to 64.9, according to the University of Michigan’s gauge of consumer attitudes. This added 5.2 index points from 59.7 in December and was up from the initial January reading of 64.6. Economists surveyed by The Wall Street Journal had forecast an unchanged reading of 64.6. Key […]