On March 16, 2022, the Federal Open Market Committee (FOMC) of the Federal Reserve raised the benchmark federal funds rate by 0.25% to a target range of 0.25% to 0.50%. This is the beginning of a series of increases that the FOMC expects to carry out over the next two years to combat high inflation.1
Over the past days, the United States and other countries have imposed various sanctions on Russia for its invasion of Ukraine. One sanction that was discussed initially but not implemented immediately was blocking Russia from the SWIFT global banking network. However, the United States and European allies eventually agreed to remove selected Russian banks from
The IRS announced that the starting date for when it would accept and process 2021 tax-year returns was Monday, January 24, 2022. Tips for making filing easier To speed refunds and help with tax filing, the IRS suggests the following: Make sure you have received Form W-2 and other earnings information, such as Form 1099,
4,376,997 – Number of new business applications in 2020. Retail trade applications accounted for approximately 20% of this total. Source: U.S. Census Bureau, 2021 After taking a nosedive at the start of the pandemic recession (gold shaded area), business applications rose sharply, peaking in July 2020. Applications have fallen somewhat since then but are still
$352,700 – National median price of an existing home in October 2021. This was lower than median prices in the summer, but higher than September. The West was the most expensive region with a median price of $507,200, followed by the Northeast ($379,100), South ($313,600), and Midwest ($259,500). Source: National Association of Realtors, 2021 U.S.
The IRS issued more than 125 million individual income tax refunds in 2020; the average amount was nearly $2,600. Source: Internal Revenue Service, 2021 Most U.S. taxpayers “completely agree” (68%) or “mostly agree” (26%) that paying their fair share of taxes is a civic duty.1 However, no one wants to pay more than his or
Taking a financial inventory can be done by anyone, at any time. It’s a good first step to getting your financial house in order, whatever life stage you’re in. To start, list your monthly household income and expenses. You should know how much you have coming in and how much you have going out. For
An initial public offering (IPO) is the first public sale of stock shares by a private company. IPOs are important to the financial markets because they help fuel the growth of innovative young companies and add new stocks to the pool of potential investment opportunities. When a company files for an IPO, new shares are
On December 15, 2021, the Federal Open Market Committee (FOMC) of the Federal Reserve System made a significant shift in monetary policy in response to rising inflation. The Committee accelerated the reduction of its bond-buying program in order to tighten the money supply and projected three increases in the benchmark federal funds rate in 2022,
During your working years, you’re accustomed to living on an income from your job. When you retire, the income from employment ends. Social Security provides a steady income, but it probably isn’t enough to meet your retirement income needs. An annuity is an option that can provide a stream of income during retirement. With most
