The U.S. is showing signs of a “K-shaped” economy with spending among lower-income consumers showing little growth in comparison to their higher-income counterparts, a new analysis…
To recover from holiday spending without stress, you must first assess the damage by tallying all holiday receipts and statements. Once you have the total, create a recovery budget that excludes discretionary spending and prioritizes…
Federal Reserve policymakers were deeply divided over the decision to cut interest rates at their meeting in December as the U.S. economy faces a challenging combination of risks, according to the minutes from their latest policy meeting. The Fed cut rates by 25 basis points for the third straight time…
People who use their cars for work will be able to deduct more money per mile on their taxes in the new year. The Internal Revenue Service (IRS) announced this week that the standard mileage rate for business driving will increase by 2.5 cents per mile. Additionally, vehicles used for…
President Donald Trump on Monday launched a renewed attack on Federal Reserve Chair Jerome Powell, accusing Powell of “gross incompetence” and threatening to sue him over the costly renovation of the central bank’s headquarters. Trump spoke at a Mar-a-Lago press conference alongside Israeli Prime Minister Benjamin Netanyahu and slammed Fed Chair Powell…
American workers at the bottom end of the pay scale are set to see the minimum wage rise in 19 states effective on New Year’s Day, while three other states are also planning minimum wage increases later in 2026. While 20 states opt to leave their minimum wage at the federal…
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Annual inflation increased to 3% in January, rising above expectations and giving the Federal Reserve further reason to slow down interest rate cuts. Inflation increased 0.5% monthly, slightly exceeding expectations and above the previous month’s…
