Investing News

The Federal Open Market Committee (FOMC) raised the target range for the federal funds rate by 75 basis points (bp), or 0.75 percentage points, at its meeting on Sept. 20-21, 2022. The new target range is 3.00% to 3.25%. The FOMC’s press release stated: “Recent indicators point to modest growth in spending and production. Job

Over the last few years, cryptocurrency has become an increasingly popular option for investing. The crypto market is known for its volatility but has captured the attention of a large number of investors looking for new ways to seek profit in their portfolios. But amid such a new and unregulated financial market, investors are left

The annual percentage yield (APY) on a certificate of deposit (CD) is the amount of interest you will earn each year. The APY is normally expressed as a percentage, so you might see a CD advertised as having a 1% APY. In this case, if you have $100 in the CD, after a year, you

For people of average wealth, credit cards are ways to get by when money is tight, make additional purchases, or earn generic rewards. The super rich, however, have access to cards that give them luxurious perks, helping them to further fund their extravagant lifestyles. Many of these exclusive credit cards come only through invitation or

Victims of Hurricane Fiona in Puerto Rico have until Feb. 15, 2023, to file their 2021 federal individual and business tax returns with a valid extension originally due to run out on Oct. 17, 2022. The Internal Revenue Service (IRS) reprieve postpones several other filing and payment deadlines that occurred starting on Sept. 17, 2022.

The decision to start a family can be one of the most life-changing, meaningful, and expensive things a person does. Having a measure of control over that process means choosing the number of children you will have and when you will have them. Family-planning services are key to achieving that goal. These include programs that prevent

One of the leading crypto market makers, Wintermute, has lost about $160 million in a hack, becoming the latest crypto firm to suffer a breach. Wintermute’s CEO and founder, Evgeny Gaevoy, revealed in a series of tweets that the firm’s decentralized finance operations were compromised on Sept. 20. A crypto market maker provides liquidity on

Editor’s note: Below you’ll find the week 106 release of the NYC Recovery Index, originally published September 13, 2022. Visit the NYC Recovery index homepage for the latest data. New York City’s economic recovery made strong gains in the week ending September 4, 2022, as the index score rose to a score of 76 out

It shouldn’t have to be your responsibility to avoid getting scammed out of your 401(k) plan contributions. Unfortunately, there are selfish, entitled, and desperate people in the world whose dysfunctional moral compass tells them it’s okay to steal others’ money. Here’s what to look out for so you can reduce your chances of being fleeced

CEOs of some of the biggest banks in the country are expected to appear before the House Financial Services Committee today and the Senate Banking Committee tomorrow. The title of the hearings is “Holding Megabanks Accountable.” JPMorgan’s Jamie Dimon, Bank of America’s Brian Moynihan, Citi’s Jane Fraser, and Wells Fargo’s Charles Scharf will all be in attendance,

The world has changed substantially thanks to the COVID-19 pandemic. Nowhere is this more evident than in the travel and tourism industry and the workforce. Economic losses continue to mount in tourism-dependent countries as people remain reluctant to travel. And employers now allow their staff to operate outside the office—something most companies see for the

ETF vs. Mutual Fund Tax Efficiency: An Overview Tax considerations for mutual funds and exchange-traded funds (ETFs) can seem overwhelming but, in general, starting with the basics for taxable investments can help to break things down. First, it’s important to know that there are some exemptions to taxation altogether, namely Treasury and municipal securities, so

What Is the American Families Plan? Frequently described as an “ambitious” plan to reinvigorate American households, the American Families Plan is one part of the Biden administration’s larger economic recovery framework, “Build Back Better,” which the White House says will restore the middle class and help families make ends meet. The $1.8 trillion families plan

General Electric Co. (GE) is a multinational industrial company. GE provides a range of products and services, including aircraft engines, power generation, oil and gas production equipment, medical imaging, financing, and more. The company operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and a financial services segment called GE Capital. The top shareholders

After three weeks of only wavering, certificate of deposit (CD) rates started making moves this past week, though some terms’ top rate climbed, others dipped, and some remained flat. The next Fed rate announcement will occur tomorrow, with a large or very large rate hike expected, so CD terms are likely to show a general

Some experts have warned that Bitcoin could experience a new low, sending its price down to $12,000. A series of macroeconomic events, such as the rise in the federal reserve rate and inflation data, have played a significant role in predicting the price of Bitcoin. The prediction has come at a time when the crypto

Over the past 25 to 30 years there has been a major shift in retirement plan schemes offered by private-sector employers, from the traditional defined-benefit plan (DB plan) to the more contemporary defined-contribution plan (DC plan). Traditional DB plans, commonly referred to as pensions, typically provide a guaranteed monthly income to employees when they retire

The Consumer Financial Protection Bureau (CFPB) released its 2021 Mortgage Market Activity and Trends report on Monday, which covers residential mortgage lending activity and trends for the year. In particular, the report shows that an increase in activity was driven primarily by home purchase loans, signaling an end to the refinancing boom, and that the

Advanced Micro Devices Inc. (AMD) is a global semiconductor company. It sells microprocessors, chipsets, graphics processing units (GPUs), development services, server and embedded processors, and technology for game consoles. The company has two major segments: Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The top shareholders of AMD are Dr. Lisa T. Su, Harry A.

Oil exchange-traded funds (ETFs) offer direct access to the oil market by tracking the price of oil as a commodity. This approach is different from investing in funds that own a portfolio of oil stocks. There is potential for significant returns through investing in the oil sector, but the risks remain high due to the