An employee rides a bicycle next to oil tanks at the Saudi Aramco oil facility in Abqaiq, Saudi Arabia, on Oct. 12, 2019. Maxim Shemetov | Reuters Oil rose more than 3% on Wednesday as the U.S. warned Houthi militants against further attacks in the Red Sea and OPEC pledged […]
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2023 layoffs will continue to affect employee morale in 2024, economist says
2023 was a year of layoffs. Over 305,000 U.S. workers were laid off over the year in a series of mass layoffs that started most notably with tech companies, but then spread across industries. “Many businesses had to make tough decisions to reduce their headcounts, especially with the economic uncertainty […]
Fed officials in December saw rate cuts likely, but path highly uncertain, minutes show
Federal Reserve officials in December concluded that interest rate cuts are likely in 2024, though they appeared to provide little in the way of when that might occur, according to minutes from the meeting released Wednesday. At the meeting, the rate-setting Federal Open Market Committee agreed to hold its benchmark […]
New change to 529 college savings plans has ‘so many caveats,’ advisor says. Here’s what to know
Nancy Ney | Photodisc | Getty Images The new year has ushered in a big change to 529 college savings plans, which has made the accounts more attractive to some investors. But the adjustment may have unexpected downsides, experts say. Starting in 2024, families can roll unused 529 plan funds […]
These beneficiaries are first to receive a new cost-of-living adjustment for 2024. Here’s what to watch for
Mark Edward Atkinson | Tetra Images | Getty Images What to watch for with ‘two check’ months SSI recipients must comply with strict rules. Individuals have a $2,000 limit on resources they may own such as property, stocks, bonds or bank accounts. For couples, the limit is $3,000. These thresholds […]
Job data shows two kinds of workers: the ‘haves and have nots,’ economist says
Maskot | Maskot | Getty Images U.S. Department of Labor data issued Wednesday suggests a two-tiered job market has emerged, in which workers enjoy strong job security while the unemployed may have trouble finding a new gig. “There’s a bifurcated labor market,” said Julia Pollak, chief economist at ZipRecruiter. “There […]
Names in Jeffrey Epstein court documents to be unsealed in New York on Wednesday
Jeffrey Epstein and Ghislaine Maxwell attend Batman Forever/R. McDonald Event on June 13, 1995 in New York City. Patrick McMullan | Getty Images New York federal court documents containing previously hidden names of people associated in some way with the late notorious sex offender Jeffrey Epstein will be unsealed Wednesday, […]
Dry January may help improve your finances. One woman has already saved $48,000 by giving up alcohol
Gu Studio | E+ | Getty Images When Tracye Polson gets home from work, she pours herself a glass of Chardonnay. “It’s really about a ritual, and relaxing,” said Polson, 64, a social worker in Jacksonville, Florida. This month, she’ll need to find other ways unwind — she’s trying Dry […]
Oil prices rise more than 3% on mounting Middle East tensions, OPEC pledge to support market
An employee rides a bicycle next to oil tanks at the Saudi Aramco oil facility in Abqaiq, Saudi Arabia, on Oct. 12, 2019. Maxim Shemetov | Reuters Oil rose more than 3% on Wednesday as tensions mount in the Middle East and OPEC pledges to remain united in supporting prices. […]
Mortgages, auto loans, credit cards: Expert predictions for interest rates in 2024
The Federal Reserve‘s effort to bring down inflation has so far been successful, a rare feat in economic history. The central bank signaled in its latest economic projections that it will cut interest rates in 2024 even with the economy still growing, which would be the sought-after path to a “soft landing,” where […]