Social Security reports funds to be insolvent by 2035

Amid the Federal Reserve's efforts to fight inflation, interest rates are expected to surpass levels not seen since 2007, according to a new economic forecast from Credit Union National Association. At its most recent meeting in May, the Federal Reserve elected to raise interest rates for the second time this year, raising the federal funds rate 50 basis…

The White House insists President Biden will run in 2024 but speculation is rampant that he will pass the baton to someone on the Democratic bench. Top prospects include Vice President Kamala Harris, members of the Cabinet and governors such as Phil Murphy of New Jersey who sees his state as a roadmap for a national Democratic agenda. Mr. Biden would be 82 years old…

When I talk to business groups these days, the most commonly asked question is, "Are we headed for stagflation?" At the beginning of 1979, the United States already had 9 percent annual inflation; the surge in oil prices after the Iranian revolution sent inflation well into double digits. The Federal Reserve, under Paul Volcker, responded with drastically tighter…

The Federal Reserve is currently attempting to rein in the highest inflation since the 1970 s without tipping the U.S. economy into recession. In a new book, "21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19," Bernanke explores the Fed's recent history, one "defined by remarkable innovation and change." On January 29, 2020, Jay…

To combat the hot housing market, the Federal Reserve raised interest rates. The National Association of Realtors expects home sales to drop 9% during 2022 compared to 2021 because of rising interest rates. The average 30- year-fixed home loan rate is now 5.37%, up more than 2 percentage points since the year began, according to the Mortgage Bankers Association.

That's how the affordable housing community looks at the Federal Reserve's decision to finally increase lending rates. The Fed should have done this years ago. The Fed was guided by a belief that growth in the investment community would trickle down into other areas of the economy, but no such trickling occurred.

-The Federal Reserve raised its baseline interest rate range Wednesday by two times the size of a usual rate hike as the central bank sprints to get ahead of rising inflation. The Federal Open Market Committee, the panel of Fed officials in charge of monetary policy, boosted interest rates by 0.5 percentage points to a target range of 0.75 to 1 percent.

The number of relatively frightening headlines about the economy and the likelihood of a recession is on the rise, especially after government data released Thursday showed the economy shrank in the first quarter of 2022.. The US economic growth rate plunged in the first quarterA major recession is coming, Deutsche Bank warnsDow falls 800 points on…

One of the occupational hazards of my profession is having people ask me what is going to happen to the market. Clearly, the Federal Reserve will raise interest rates repeatedly over the months ahead, continuing that process until there are clear signs that inflation is coming down to tolerable levels. The Fed must hike: Inflation must be curbed, and as a practical…

The ultra-wealthy in America have all sorts of tricks at their disposal to avoid paying their fair share of taxes, which is. why it's not uncommon for a billionaire to end up with a lower-percentage effective tax rate than an average working American. President Joe Biden's proposal to set a 20% minimum tax rate on the wealthiest households would end that…

President Biden used Monday's tax-filing deadline to promote his social welfare agenda while lobbing attacks at Senate Republicans, saying his tax plan would look out for the middle class while Senate Republicans promote a plan that would impose income taxes on those who currently pay none. “The president is fighting for tax cuts for the middle class and to…

The consumer price index leaped 8.5% annually, the fastest pace since December 1981, the Labor Department said Tuesday, likely cementing Federal Reserve plans for an unusually large half-point interest rate hike early next month. Average unleaded gas set a record $4.33 a gallon last month before easing to $4.11 by Monday, according to AAA.

The inflation data this week pointed to continued high prices, despite an announcement by the Federal Reserve of significant efforts to end inflation this year. It is clear today that the American Rescue Plan passed by Congress was too big, and helped fuel the inflation we now see. What was not clear in March 2021 was that household savings were much healthier…

WASHINGTON— Another month, another four-decade high for inflation. The Federal Reserve never anticipated inflation this severe or persistent. Back in December 2020, the Fed's policymakers had forecast that consumer inflation would stay below their 2% annual target and end 2021 at around 1.8%.

The U.S. is among the wealthiest countries in the world. Addressing this impending crisis will require a lot more ambition than Congress has yet demonstrated. The U.S. has never squarely considered how best to encourage people to supplement their expected Social Security payments and set aside enough for old age.

Applications for U.S. state unemployment insurance fell last week by more than forecast, showing that employers are retaining workers in an increasingly tight labor market. Initial unemployment claims decreased by 5,000 to 166,000 in the week ended April 2, Labor Department data showed Thursday. A separate report last week showed that the U.S. added close to…