In his first inaugural address, in March 1933, President Franklin D. Roosevelt said: "So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself." It was the Great Depression. The unemployment rate was over 25%.

About 40% of all U.S. households in which the head of household is between 35 and 64 years old are expected to run short of money in retirement, according to a 2019 report by the Employee Benefit Research Institute. If that news is not alarming enough, remember we are also living longer than our ancestors. In 1940, the life expectancy of a 65- year-old was almost 14…

While we don't face the specter of another Federal Reserve meeting until November, the central bankers' 75- basis-point rate increase in late September, coupled with their latest round of predictions for interest rates, should be more than enough to spook mortgage lenders. Federal Reserve actions make mortgage rates jump. The Federal Reserve may not yet have…

The Federal Reserve is tasked with being the gatekeeper of our economy. The Fed has just two mandates. It's right on the cusp of a staggering $31 trillion.

She described herself as knowing "zero" about the economy and then proceeded to ask me whether I thought the Federal Reserve would continue raising interest rates to help fight inflation. The Federal Reserve is an immensely powerful organization that is part of our economy's foundation–it's tectonic plates. But the truth is, at this moment, we should all be…

I have been puzzled by the aggressive moves of the Federal Reserve, which it says are designed to curb the rampant inflation we see evidence of each time we walk into a supermarket and buy a staple, not even a luxury item. Lunches which not all that long ago would cost $9 for a tuna salad sandwich and $1.50 for a Sprite now cost $13 for the sandwich and $2.50 for the…

"Several of the most popular retirement Meccas in the U.S., you know, they're the most vulnerable to global climate change and extreme weather, according to researchers," said Marketplace senior economics contributor Chris Farrell in an interview with Marketplace's Sabri Ben-Achour. Sabri Ben-Achour: All right, climate change and retirement planning.

September was a terrible month in the stock market. Investments reacted to the Federal Reserve raising interest rates while they tried to rein in inflation not experienced for 40 years. Last week, Hurricane Ian caused an estimated $250 billion worth of damage.

Mortgage rates reached a 16- year high last week, further dampening demand from home buyers, according to data from the Mortgage Bankers Association released Wednesday. Mortgage applications fell 14.2 percent from the week prior, according to the MBA, amid rising mortgage rates, which stem from the Federal Reserve's persistent interest rate hikes aimed at…

Las Vegas resident Justin Costello, 42, was arrested by an FBI SWAT team in San Diego Tuesday night after several days on the run, according to authorities. A federal arrest warrant was issued for Costello on Sept. 28, in the U.S. District Court, Western District of Washington in Seattle after he was charged with 22 counts of wire fraud and three counts of securities…

The Fed has signaled that more interest rate hikes will likely be necessary to arrest the generationally high consumer price increases we’re currently experiencing.

We are now 18 months into inflation that is above the 2.0 to 2.5 percent level that the Federal Reserve targets as a normal rate of inflation. To slow that inflation rate, the Fed has raised their benchmark interest rate five times, from 3.25 to 6.25 percent. This has the effect of increasing the cost of borrowing, thus reducing consumer demand.

TAMPA, Fla.— For homeowners hit by Hurricane Ian, federally-backed mortgage company Freddie Mac put out a statement detailing their forbearance options to help with getting back on their feet after the storm. Freddie Mac said homeowners with their residences or businesses and places of work that are inside the Presidentially-Declared Major Disaster Area…

A recent Nationwide Agency Forward survey shows that consumers in the U.S. are feeling vulnerable as they perceive the worsening economy to be negatively impacting their personal finances, mental health and job security.

The fallout from the COVID-19 global pandemic, including inflation, market volatility and supply chain challenges, continues to impact business owners of all types.

A North Miami woman defrauded investors out of $4.6 million over less than two years and spent $1 million of the money on herself, for her wedding, vacations and other entertainment, according to a federal criminal complaint filed in U.S. District Court in Miami. Paris-Pinder, as president of North Miami- based Pinder Associates, offered loan agreements to…