Tag Archive for: inflation
New Retirement Account Rules Make It Easier To Tap Savings Early For Emergencies
President Joe Biden is poised to sign a $1.7 trillion bill that amends rules related to so-called hardship distributions from 401(k) plans. The measures are tucked into “Secure 2.0,” a collection of retirement reforms attached to the overall legislative package, which will fund the federal government for the rest of the fiscal year through next September. CLICK ON THE HEADLINE FOR MORE
Social Security Administration Making Substantial COLA Increase In 2023, But Is It Enough For Retirees?
The COLA Social Security 8.7% adjustment for 2023 is the highest increase in decades. But some still worry that it may not be enough. While the increase is historic and needed, it is also inadequate for millions of older Americans who face skyrocketing housing and health care costs across the country. CLICK ON THE HEADLINE FOR MORE
IRS Tax Bracket 2023: How Will Inflation Affect Refunds?
While the government is expected to announce 2023 tax brackets in November, it has to be noted that the figures will be based on the monthly average of Consumer Price Index changes for the latest fiscal year, which is between October 2021 and September 2022. CLICK ON THE HEADLINE FOR MORE
The Fed Could Keep Lifting Rates Sharply ‘For Some Time’
A stark message was just delivered by Federal Reserve Chair Jerome Powell: "The Fed will likely impose more large interest rate hikes in coming months." He also warned more explicitly than he has in the past that the Fed’s continued tightening of credit will cause pain for many households and businesses. CLICK ON THE HEADLINE FOR MORE
70% Of Americans Think A Recession Is Coming: Here’s What They Are Doing To Prepare
While experts debate whether a recession will happen or when, most people are already convinced we’re headed for a downturn, a recent survey finds. High inflation is one of the biggest risk factors that make people think an economic decline is coming. For steps you can take to reduce your costs, CLICK ON THE HEADLINE
80% Of Economists See ‘Stagflation’ As A Long-Term Risk. What It Is And How To Prepare For It
To have stagflation, you need both high unemployment and high inflation at the same time. Despite surveys sounding the alarm on stagflation, not everyone agrees it’s inevitable. CLICK ON THE HEADLINE FOR MORE