MoneyWatch

As inflationclimbed to its highest point in more than four decadesin mid-2022, the Federal Reserve began increasing its target federal funds rateto try and temper it. Rate hikes then became the norm until the Fed paused rate hikes at a 23-year high in late 2023. The federal funds rate forms the foundation for consumer interest rates, so you may have …

Annuities are a popular insurance option for seniors because they can provide stable income while preserving your assets and offering tax advantages. When you purchase an annuity, you agree to pay your premiums to the financial institution, and that money is then invested in an annuity fund. In return, the financial institution agrees to make regular payments to you for …

Filing for bankruptcy can be a challenging and overwhelming period in your financial journey. But while the bankruptcy process can be tough, and can result in serious financial hurdles, it’s also a relatively common option to choose. For example, annual bankruptcy filings totaled 452,990 in 2023, according to a report from the Administrative Office of the U.S. Courts — an …

Credit card debt forgiveness has been a hot topic as of late. With the federal funds rate target frozen at a 23-year high, credit card interest rates have risen significantly in recent years. And since interest makes up a sizable portion of credit card minimum payments, many are dealing with higher monthly payments today than they were just a couple …

Small business owners are feeling better about the U.S. economy as inflation cools and recession fears subside, according to a new survey. Indeed, economic optimism among smaller employers is at a 22-year high, PNC Financial Services Group found in polling small and midsize business owners. A majority of respondents – 55% – said they are “highly optimistic” about the national …

Panera Bread is paying $2 million to settle claims that the sandwich chain mislead customers about the cost of delivery orders. Under the settlement, some customers can file a claim that could provide them with food vouchers or cash. In agreeing to settle the lawsuit accusing Panera of misleading people about delivery fees and menu prices, the company did not …

Although the housing market traditionally thaws every spring, aspiring homebuyers may want to consider an extended hibernation given what is an exceptionally tough market this year. Home prices last year rose an average of 6.7% in the country’s 20 biggest metro areas, according to the latest S&P CoreLogic Case-Shiller data. Across the nation as a whole, housing prices rose than …

Coinbase apps are “recovering” after some customers opened their digital accounts to find them showing zero balances, CEO Brian Armstrong said Wednesday afternoon. The cryptocurrency exchangeacknowledgedthe issue earlier Wednesday after users reported difficulties making trades and that their accounts were empty. “Apps are now recovering,” Armstrong said on X (formerly known as Twitter). “We had modeled a ~10x surge in …

Google CEO Sundar Pichai is putting heat on the internet company’s engineers to fix its Gemini AI app pronto, calling some of the tool’s responses “completely unacceptable.” The new search tool, which the company hastoutedas revolutionary, came under fire after some users asked it to generate images of people drawn from history, such as German soldiers during World War 2, …

After nine years of legal sparring, Ferguson, Missouri, has agreed to pay $4.5 million to settle claims it jailed thousands of people for not having the money to pay fines, fees and other court costs, a nonprofit legal advocacy group has announced. A federal judge on Tuesday gave preliminary approval to the resolution of a class-action lawsuit filed against the …