Economy
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I’m 54 and the primary earner but ‘professionally, I am exhausted’ — we have $2.18 million but what about healthcare?
My wife and I are both 54 years old. I am the primary earner with a six-figure salary and equal bonus opportunity. My wife works part time for extra income. For the purposes of this, we can assume that our primary savings vehicle is my bonus, and that we live off of the paychecks. We…
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Bank of Japan keeps ultra-low interest rates unchanged
TOKYO — The Bank of Japan kept its ultra-low interest rates unchanged Friday, affirming Gov. Kazuo Ueda’s policy of trying to nurture sustainable inflation. The BOJ decided to maintain its cap on the 10-year Japanese government bond yield at 0.5% and kept short-term interest rates at minus 0.1%. The yield on 10-year JGBs has been…
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Biden is cracking down on junk fees with the help of Airbnb and Live Nation — here’s how to avoid them
President Joe Biden on Thursday announced efforts to crack down on so-called junk fees — hidden or obscure fees that surprise consumers when they’re buying everything from airline and concert tickets to booking hotels and Airbnb rentals. Executives from Live Nation LYV, +3.74%, Ticketmaster, Seatgeek, Airbnb ABNB, +2.17% and other companies joined Biden at the…
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Fed’s Bostic discloses violations of trading rules before 2022 FOMC meeting
Federal Reserve Bank of Atlanta President Raphael Bostic disclosed Thursday he made multiple trades before a Fed meeting last year, despite being prohibited from doing so. According to an annual financial disclosure released Thursday, a money manager for Bostic and his spouse made transactions involving 19 exchange-traded funds on May 2, 2022, ranging in amounts…
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New Zealand’s economy slides into recession amid pain of high rates, storm damage
SYDNEY — New Zealand’s economy fell into a recession in the first three months of this year as soaring interest rates and the effects of a cyclone that devastated the North Island forced activity to contract for a second successive quarter. The agriculture-rich economy contracted 0.1% during the first quarter and grew 2.2% in annual…
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Fed’s interest-rate pause won’t be a reprieve for America’s almost $1 trillion of credit-card debt
The Federal Reserve’s decision to pause raising its benchmark interest rate is no pause for the anxiety of Americans eyeing ballooning credit-card bills. While it may halt the rise of many credit-card rates for now, the rates for some cards might still rise as some issuers pass on the previous Fed rate hikes, credit-card industry…
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China’s central bank cuts key policy rate for first time in nearly a year
China’s central bank cut a key policy rate for the first time since August on Thursday, a widely-expected move as Beijing ramps up policy support to boost the economy amid a darkening growth outlook. The People’s Bank of China said it lowered the rate on 237 billion yuan ($33.08 billion) of one-year medium-term lending facility…
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2-year Treasury yield jumps after Fed sees more 2023 rate hikes on the way
The two-year Treasury yield jumped Wednesday afternoon after the Federal Reserve officials indicated more interest rate hikes are on the way this year even as they voted for no rate increase in June. What’s happening What’s driving markets Projections released on Wednesday showed that the median estimate of policy makers for the fed funds rate…
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Recession? Who cares! Deutsche Bank shares Goldman’s bullish stocks view as banks split on downturn.
Happy Fed decision day to all who observe. After Tuesday’s as-expected inflation numbers, the market has settled on the idea that the Fed will skip a rate hike at the meeting, and according to market strategist Charlie Bilello, the Fed has done exactly what markets expected at every meeting since 2009. Wall Street banks are…
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Gold prices end lower with a pause in Fed interest-rate hikes priced in
Gold prices ended lower on Tuesday to tally a third straight session decline, after data showed a modest monthly increase in U.S. consumer prices ahead of Wednesday’s Federal Reserve policy announcement. The central bank is widely expected to announce a pause interest-rate hikes, which analysts say is already priced into the gold market. Price action…