Credit card interest rates have been on a steady climb over the past few years, with the average credit card rate now sitting at 22.76%, marking a record high. This upward trend can be attributed to various factors, including the Federal Reserve’s aggressive interest rate hikes aimed at combating inflation, as well as credit card companies’ efforts to offset potential …
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Something that hasn’t been done since March 2020 will likely occur next week. The Federal Reserve will issue a cut to its benchmark interest rate, which has been stuck at a range between 5.25% and 5.50% for more than a year. That’s the highest rates have been in more than two decades and borrowers who have applied for mortgages, personal …
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After years of persistent inflation, the inflation rate has been dropping over the last few months — and the job market has taken a downward turn, too. Those changes have had a positive impact on the wider rate environment, but it may still be tough to find an affordable borrowing option right now. After all, the Federal Reserve’s benchmark rate …
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A million bucks isn’t what it used to be. Just ask American millionaires, a number of whom say they don’t even consider themselves wealthy. To be sure, how far $1 million takes you can depend on a number of factors, including where you live and whether or not you support dependents. But the rest, apparently, is subjective. Only one-third of …
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Bank of America is closing in on its objective of paying its U.S. workers a minimum of $25 an hour by 2025, increasing its base wage to within a buck of that goal starting in October. The step represents an increase from a $23 hourly rate set last September, the Charlotte, North Carolina-based bank said Tuesday. The $1 hourly boost, …
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American household incomes rebounded ahead of the election year, with the typical family locking in a 4% bump in earnings in 2023, according to new U.S. Census data. It’s the first time since 2019 that households have enjoyed a significant earnings increase, the agency said. Median household income jumped to $80,610 in 2023, roughly on par with Americans’ 2019 earnings …
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The economy, a key issue for voters as the November 5 presidential election draws nearer, will have a starring role in the debate tonight between the two candidates, Democratic nominee Kamala Harris and her Republican rival, former President Donald Trump. About 8 in 10 adults tell CBS News that the economy is a major factor in their choice at the …
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Almost a quarter of millennials and Gen Z adults without children say they plan to stay that way. The reason? Money. About 23% of these adults, ranging from 18- to 43-years-old, said their financial motivation to remain childless boils down to two issues: valuing the financial freedom that comes from not having kids, as well as concerns about their ability …
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Walt Disney Co. and DirecTV continued their war of words Tuesday over a contract dispute that has led to a frustrating blackout for millions of pay-TV customers. Their weapon of choice? Tonight’s eagerly anticipated debate between Vice President Kamala Harris and former President Donald Trump. Walt Disney Co. on Tuesday offered to allow DirecTV subscribers to watch tonight’s debate despite …
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Brian Niccol prepped for his new gig as chief executive of Starbucks by visiting some of the coffee chain’s more than 17,000 U.S. stores, finding a “shared sense that we have drifted from our core.” In an open letter posted Tuesday, the former Chipotle CEO said he would work to reestablish the caffeine purveyor as the nation’s “community coffeehouse,” an …
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