Money & The Economy

News on Finance, Money, markets and the economy

Social Security Lost Out on $10.8 Trillion as Taxable Wages Shrank, AARP Says

A new AARP study says the shrinking share of the economy subject to the payroll tax cost Social Security an…

9 hours ago

Mortgage Rates Jump Back to 7.30% After a Hot Inflation Report, Ending a Four-Week Slide

The average 30-year fixed mortgage rate rose 12 basis points to 7.30% after October's consumer price report came in hotter…

14 hours ago

“Step on the gas”: Timur Turlov’s Path from Post-Soviet Markets to the Global Stage

The Untapped Market When Freedom Finance entered Kazakhstan in 2011, retail investing remained a small segment of the country’s securities…

15 hours ago

American Airlines Drops 8 International Routes for 2027, Even Some Flying 80% Full

American Airlines has left eight international routes off its 2027 schedule, including Miami-Paris and Dallas-Zurich, even though several were filling…

1 day ago

Gold Slips Below $4,000 an Ounce as Hot Inflation Locks In Bets on a December Fed Hike

Spot gold fell 1.1% to about $3,985 an ounce Wednesday, extending a two-day slide after October's hotter-than-expected inflation report cemented…

1 day ago

S&P 500 Gains 98 Points as Chip Stocks Revive the AI Trade

The S&P 500 rose 1.3% to 7,619 on Wednesday as a 24.7% jump in CoreWeave and a 5.7% rally in…

1 day ago

Americans Now Being Strangled By Highest Amount Of Credit Card Debt In History

American consumers are accumulating a record amount of credit card debt, according to the Federal Reserve Bank of New York’s…

1 day ago

Fed’s Bowman Warns of a ‘Large Correction’ in Stocks if AI Bets Fall Short, but Says the Inflation Fight Isn’t Over

Fed Vice Chair for Supervision Michelle Bowman said AI-related debt is on track to top $800 billion this year and…

2 days ago

Oil Rebounds to $92 From a Two-Month Low as Iran Says Another Tanker Hit a Mine in Hormuz

Brent crude rose about $1.28 to $92.77 a barrel Wednesday as Iran's army said another tanker struck a mine in…

2 days ago

Costco Declares a Record $30 Special Dividend Worth $13.3 Billion and Renews Its $4 Billion Buyback

Costco will pay a $30-per-share special dividend, about $13.3 billion in all, on Dec. 4, double its last special payout,…

2 days ago