Cash savers still have an opportunity to beat inflation. Here’s how

Riska | E+ | Getty Images It may be a while longer before the Federal Reserve lowers interest rates, experts now say. That means savers can still earn the best returns on their cash in years, following a “nuclear winter for the better part of the last 15 years,” said Greg McBride, chief financial analyst … Read more

Fed must cut rates more aggressively due to jobs: Canaccord Tony Dwyer

The Federal Reserve may have new incentives in the second quarter to cut rates deeper this year. Canaccord Genuity’s Tony Dwyer thinks a deteriorating jobs market and easing inflation will ultimately push the Fed to act. “I’m not saying that they have to go back to zero, but they have to be more aggressive,” the … Read more

How Social Security benefits may change under Republican, Democrat proposals

South_agency | E+ | Getty Images House Republicans unveiled a plan this week that calls for raising the Social Security retirement age. Meanwhile, Democrats and advocates for the program are ramping up their calls to tax the rich to enhance benefits. “On the right, there is a line in the sand against tax increases,” said … Read more

Why consumers might be getting less for their money

Pixelseffect | E+ | Getty Images Some grocery store products are providing less for your money. And everyone from President Joe Biden to Cookie Monster has noticed. Blame shrinkflation. The term — which is increasingly used in conversation — refers to products becoming smaller in size, weight or quantity as their prices stay the same … Read more

Why Social Security cost-of-living adjustment may be smaller in 2025

Peopleimages | Istock | Getty Images Early estimates for the 2025 Social Security COLA New government data points to a 2.4% Social Security cost-of-living adjustment for 2025, The Senior Citizens League estimates, based on new government inflation data released this week. To be sure, that estimate is subject to change. The Social Security Administration typically … Read more

Here’s where prices fell in February 2024 — in one chart

A customer shops for food at a grocery store in San Rafael, California, March 12, 2024. Justin Sullivan | Getty Images News | Getty Images The U.S. is still grappling with higher inflation, government data released this week shows. But there are some bright spots for consumers. Inflation is lower than its 2022 peak. And … Read more

Here’s the inflation breakdown for February 2024 — in one chart

Shoppers are seen in a Kroger supermarket in Atlanta on Oct. 14, 2022. Elijah Nouvelage | AFP | Getty Images Consumers continued to contend with higher inflation in February, according to new government data. The consumer price index — an inflation measure that tracks changes in the prices of consumer goods and services over time … Read more

Where candidates stand on Social Security, Medicare

Former U.S. President Donald Trump watches a video of President Joe Biden playing during a rally for Sen. Marco Rubio (R-FL) at the Miami-Dade Country Fair and Exposition on November 6, 2022 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images Former President Donald Trump and current President Joe Biden issued opposing … Read more

Millionaires reach limit for Social Security payroll taxes for 2024

Ezra Bailey | Getty Images Most Americans can expect to pay Social Security payroll taxes throughout 2024. But for top earners with gross annual wage income of $1 million, March 2 marks the date at which they will stop paying into the program, according to the Center for Economic and Policy Research. The reason why … Read more

Amid mass layoffs, experts say a new approach to job searching is best

Westend61 | Westend61 | Getty Images As thousands of layoffs make headlines, experts say there is a silver lining — a resilient job market. But to find your next position faster as companies cut costs, you may have to take a new approach. In January, companies cut a record 82,307 positions, the highest number of … Read more