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☆ Social Security beneficiaries to soon receive notices revealing the size of their 2025 benefit checks
▼ + stars: | 2024-11-20 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Westend61 | GettyA new 2.5% cost-of-living adjustmentIn 2025, retirement benefits will increase by about $50 per month, on average, according to the Social Security Administration. Medicare Part B premiums are often deducted directly from Social Security checks. Beneficiaries can also request to have Medicare Advantage or Part D premiums deducted from Social Security benefit payments, according to Mary Johnson, an independent Social Security and Medicare analyst. Income changes may prompt higher taxesSocial Security beneficiaries may request to have withholding for federal taxes deducted from their benefit payments. Social Security benefits are taxed on a formula called combined income — the sum of adjusted gross income, nontaxable interest and half of Social Security benefits.

Persons: Joe Elsasser, Mary Johnson, Jim Blair, Brian Vosberg Organizations: Getty, Social Security Administration, Social Security, Medicare, Centers, Services, Social, Premier Social Security Consulting, Security, Vosberg Wealth Management Locations: Glendora , California

☆ Some market experts are talking about 'animal spirits.' Here's what that means when it comes to investing
▼ + stars: | 2024-11-19 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Yet, some experts say they are seeing a renewal of so-called animal spirits. "Animal spirits" is a term first coined by economist John Maynard Keynes and refers to the tendency for human emotion to drive investment gains and losses. watch nowSome experts say animal spirits are a sign of consumer confidence. "It's essentially why dead investors outperform living investors, because dead investors are not impacted by their animal spirits," Klontz said. Research has shown dead investors' portfolios tend to outperform, since they are left untouched because they are less likely to be influenced by emotional decisions, such as panic selling or buying.

Persons: Timothy A, Clary, Donald Trump, John Maynard Keynes, Brad Klontz, Klontz, Scott Wren, Wells, Wren, —, We're Organizations: New York Stock Exchange, Getty, Trump, Dow Jones, Research, Investors Locations: Wells Fargo, U.S

☆ Older voters prioritized personal economic issues, helped Republicans win on Election Day, new AARP poll finds
▼ + stars: | 2024-11-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

the answer for many older voters ages 50 and over was "no," according to a new post-election poll released by the AARP. Almost half — 47% — of voters ages 50 and over said they are "worse off now," the research found, while more than half — 55% — of swing voters in that age cohort said the same. Among voters 50 to 64, Trump won by seven points. With voters ages 65 and over, Vice President Kamala Harris won by two points. Interviews were conducted with 2,348 "likely voters" in targeted congressional districts following Election Day between Nov. 6 and 10.

Persons: Donald Trump, Trump, Kamala Harris, Fabrizio Ward, Bob Ward, Ward Organizations: AARP, Finance, Research, Republican Locations: Bethlehem , Pennsylvania

☆ The House just voted 'yes' on a bill that would increase Social Security checks for some pensioners
▼ + stars: | 2024-11-13 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

A bipartisan bill to change Social Security benefit rules for pensioners passed in the House of Representatives on Tuesday, with 327 lawmakers voting to support the measure. The proposal — called the Social Security Fairness Act — would repeal rules that reduce Social Security benefits for individuals who receive pension benefits from state or local governments. It would eliminate the windfall elimination provision, or WEP, that reduces Social Security benefits for individuals who worked in jobs where they did not pay Social Security payroll taxes and now receive pension or disability benefits from those employers. About 3% of all Social Security beneficiaries — about 2.1 million people — were affected by the WEP as of December 2023, according to the Congressional Research Service. As of December, about 1% of all Social Security beneficiaries — or 745,679 individuals — were affected by the GPO, according to the Congressional Research Service.

Persons: Abigail Spanberger, Garret Graves, Graves, They're, they're Organizations: Social Security, Senate, U.S, Social, Congressional Research Service, Finance, GPO Locations: Washington , DC

☆ What investors need to consider when choosing a dividend-paying fund
▼ + stars: | 2024-11-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Jamie Grill | Tetra Images | Getty ImagesFor investors who want income, dividends may provide an answer. Dividend investment options may come in the form of single company stocks or dividend-paying funds, like exchange-traded funds or mutual funds. However, dividend-paying funds like ETFs or mutual funds may provide a broader exposure to dividend securities, often at lower costs, she said. For investors who are considering putting a portion of their portfolios in dividend-paying strategies to fulfill their income-seeking goals, there are some things to consider. What kind of dividend-paying fund fits my goals?

Persons: Jamie Grill, Leanna Devinney, Devinney, Daniel Sotiroff, Sotiroff, it's Organizations: Fidelity Investments, Morningstar, Apple, Microsoft, Vanguard Locations: Hingham , Massachusetts

☆ Here's what a new Trump administration could mean for your money, financial advisors say
▼ + stars: | 2024-11-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Leah Millis | ReutersNow that Donald Trump has been elected president, many individual investors are wondering what that means for their money. Yet, when it comes to long-term performance of the markets and policies that Trump proposed on the campaign trail, financial advisors say it's best to take a wait-and-see approach before making any big money decisions. Lee Baker, a CFP and owner of Claris Financial Advisors in Atlanta, said he's also told clients not to make wholesale financial changes now. Many investors expect Trump to lead with faster economic growth and more market-friendly policies, said Francis during a Friday webcast on what Trump's presidency could mean for investors' money. While those policies would put more money in Americans' pockets, Francis noted, other experts say it's too soon to count on those changes.

Persons: Donald Trump, Leah Millis, Trump, Jude Boudreaux, Boudreaux, Lee Baker, he's, Baker, I've, Stacy Francis, Francis Financial, Francis, it's, Marguerita Cheng, Cheng, Trump's, David Haas, CNBC.com Organizations: Trump, U.S . Capitol, Reuters, Dow Jones, CNBC FA, Claris Financial, Francis, Blue, Global Wealth, Social Security, Cereus Financial, Security Locations: U.S, Washington , U.S, New Orleans, Atlanta, New York City, Gaithersburg , Maryland, Franklin Lakes , New Jersey

☆ Yields on cash are still 'well ahead of inflation,' expert says. Here's where to put your money now
▼ + stars: | 2024-11-08 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Now that the central bank is lowering rates — with a new quarter point rate cut announced by the Fed on Thursday — experts say having money in cash can still be a competitive strategy. Yet just how much cash to set aside is a question every individual investor needs to determine. Strive for at least a six-month emergency fundMost financial advisors recommend having cash set aside so that unexpected expenses don't blow your budget or cause you to rack up credit card debt. However, having a year's worth of expenses set aside may also be reasonable, depending on your household budget, she said. For many individuals, inflation and having too many expenses has made finding cash to set aside more difficult.

Persons: Nopphon, Greg McBride, Callie Cox, that's, Cox, Natalie Colley, Colley Organizations: Istock, Getty, Federal Reserve, Fed, Ritholtz Wealth Management, Francis Financial, Finance Locations: New York

☆ Trump promised no taxes on Social Security benefits. It's too soon to plan on that change, experts say
▼ + stars: | 2024-11-06 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

On the campaign trail, Republican presidential candidate Donald Trump made a notable promise to retirees: No taxes on Social Security benefits. Any changes to Social Security would require at least 60 Senate votes, and Republicans would therefore need some Democratic support to pass those changes. "It's hard for me to imagine that Democrats would be willing to provide votes to get over that 60-vote threshold and weaken Social Security solvency," said Charles Blahous, senior research strategist at the Mercatus Center at George Mason University, who has also served as a public trustee for Social Security and Medicare. The Trump campaign has pushed back on those findings, calling the Committee for a Responsible Federal Budget "consistently wrong" in a statement to CNBC when the report was released. The Social Security trust fund used to help pay retirement benefits is projected to run out in 2033, according to the program's actuaries.

Persons: Donald Trump, Trump, Charles Blahous, — Organizations: Presidential, Convention Center, Republican, Social Security, Senate, George Mason University, Medicare, Finance, Budget, CNBC, program's Locations: Palm Beach, West Palm Beach , Florida, U.S

☆ Voters ages 50 and up may decide the 2024 presidential election based on 'day-to-day pocketbook issues,' expert says
▼ + stars: | 2024-11-05 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

A person arrives to vote at a polling station on Election Day, in The Villages, Florida. In a heated presidential race, there's one age cohort — voters ages 50 and up — who may help decide the ultimate winner. About 90% ages 50 and up say they are extremely motivated to vote, AARP has found, versus 75% of voters under age 50. "It's all related to day-to-day pocketbook issues, and who's better able to handle those issues moving forward," Hishta said. Caregiving is another area this cohort is paying attention to, since a substantial portion of people ages 50 and over serve in those roles, he said.

Persons: John Hishta, Donald Trump, Kamala Harris, who's, Hishta Organizations: AARP, Republican, Democratic Locations: The Villages, Florida

☆ What top financial advisors are telling investors about the market impact of the U.S. presidential election
▼ + stars: | 2024-11-05 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Early in-person voting for the 2024 US presidential election began in Virginia, South Dakota and Minnesota. - | Afp | Getty ImagesMany investors worry their investments may be affected by the outcome of the U.S. presidential election. Forward four-year returns were positive for Democrats in 11 out of 12 terms, compared to Republicans who had positive returns in nine out of 12. watch nowHowever, the presidential contest could usher in short-term volatility, particularly if a winner is not declared right away. Yet even with deregulation, record production and higher oil prices, the energy sector was down 8.4% during Trump's presidential term, according to Adam's research.

Persons: Mark Motley, Jimmy Carter, George W . Bush, Motley, Joseph Veranth, Veranth, Larry Adam, Raymond James . Long, Adam, Donald Trump Organizations: Bozeman Government, Afp, Getty, U.S, Morningstar, Democrats, Foster & Motley, Dana Investment, CNBC, — Locations: Arlington , Virginia, Virginia , South Dakota, Minnesota, Cincinnati, Waukesha , Wisconsin, U.S

☆ Should I pay off my mortgage in retirement? New book tackles big money questions
▼ + stars: | 2024-11-03 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Mortgage rates may affect payoff calculusThe mortgage payoff calculus may change based on whether people can outearn their mortgage rates with safe, guaranteed investments, Benz said. For mortgage rates that are 6% or more, paying that balance off will provide a guaranteed return. Admittedly, the argument over whether to pay off mortgages is "much more emotional and psychological than it is financial," Jenkin said. The big money questions people ask themselves to prepare for retirement are just as important as the emotional ones. What brought you joy while you were working may change in retirement, Michael Finke, a professor of wealth management at The American College of Financial Services, tells Benz.

Persons: Jessica Lautz, Benz, JL Collins, Collins, Robert Daly, Ted Jenkin, Jenkin, Michael Finke Organizations: Joint Center for Housing Studies of Harvard University, National Association of Realtors, Benz, Getty, CNBC, CNBC FA, The American College of Financial Services Locations: Atlanta

☆ Inflation is cooling, yet many Americans are still living paycheck to paycheck
▼ + stars: | 2024-10-30 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Blueflames | Getty ImagesNecessities are 'swallowing up' incomeThe share of households living paycheck to paycheck has grown since 2019, according to the firm. Around 35% of households earning less than $50,000 per year are living paycheck to paycheck, up from 32% in 2019. Higher-income households also report struggling, with around 20% of households with more than $150,000 living paycheck to paycheck, the research found. Inflation is a top issue with voters as the November election approaches, according to an October CNBC All-America Economic Survey. People who rent are among those feeling the biggest impact of inflation, Traphagen said.

Persons: It's, David Tinsley, Tinsley, Jamie Grill, Peter Traphagen, Traphagen, Nick Roth, Roth Organizations: CNBC, America Economic Survey, Bank of America Institute, Labor Department, Wealth, Foster & Motley Locations: U.S, Oradell , New Jersey, Cincinnati

☆ The bond market is selling off after traders got their Fed forecasts wrong
▼ + stars: | 2024-10-22 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Bonds have sold off as traders reassess the path of Fed Reserve rate cuts. AdvertisementThe bond market is in sell-off mode as traders reassess the path of interest rate cuts from the Federal Reserve. That would be a big surprise to traders, with the market pricing in a 90% chance of a 25-basis point interest rate cut from the Fed next month. AdvertisementFed officials, for their part, have indicated they're likely to move cautiously, though more rate cuts are still their base case. Dallas Fed President Lorie Logan said she expects interest rates will fall "gradually," and Kansas City Fed President Jeff Schmid endorsed a "cautious and gradual" approach to cutting interest rates.

Persons: Bonds, —, Donald Trump, Torsten Sløk, Sløk, Mary Daly, Neel Kashkari, Lorie Logan, Jeff Schmid, Trump Organizations: Trump, Service, Federal Reserve, Treasury, Fed, Bloomberg, Bond, Treasury Bond ETF, Federal, Market, San Francisco Fed, Minneapolis, Dallas, Kansas City, House Locations: Atlanta

☆ What could happen to Social Security benefits in 2033 if the program's trust fund isn't fixed
▼ + stars: | 2024-10-22 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Social Security may not be able to pay full retirement benefits as soon as 2033, based on current projections from the program's trustees. If Congress doesn't move to fix the situation by that date, the general expectation is that millions of retirees could see a 21% across-the-board benefit cut. The effects of that lost income could be enough to prompt a retirement crisis, since it would double the elderly poverty rate and reduce median senior household income by nearly 14%, according to new research from the American Enterprise Institute. Yet those broad benefit cuts would not necessarily have to happen, as the worst effects of insolvency could be prevented by executive action, according to the report. "It means big cuts on very rich people, but it avoids what you might think of as a retirement crisis, where everything is thrown into upheaval," Biggs said.

Persons: Andrew Biggs, Kristin Shapiro, " Biggs Organizations: American Enterprise Institute, Finance, Social Security Administration, Social Security, AEI Locations: BakerHostetler

☆ How new tax changes for 2025 could affect federal tax liabilities for families
▼ + stars: | 2024-10-22 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Momo Productions | Digitalvision | Getty ImagesChild tax credit for 2025The refundable portion of the child tax credit — a tax break parents can take for qualifying children — will be $1,700 for 2025, which is unchanged from 2024. Notably, the terms of the current child tax credit are set to expire at the end of tax year 2025. At that time, the child tax credit is scheduled to drop to a maximum $1,000 per child. Earned income tax credit for 2025A tax credit for low- to middle-income individuals and families — the earned income tax credit, or EITC — will have higher maximum amounts in 2025. The earned income tax credit helps qualifying individuals and families reduce the amount of tax they owe, while also potentially providing a refund, according to the IRS.

Persons: Momo, —, Alex Durante, Durante Organizations: Getty, Tax Foundation

Meanwhile, the yield on the 2-year Treasury was about two basis points higher at 4.047%. After jumping 12 basis points on Monday, the yield on the 10-year Treasury rose nearly three basis points to 4.21%, a level it has not reached in three months. The U.S. 10-year Treasury yield continued its gains on Tuesday after Federal Reserve officials urged caution on the path of interest rate cuts. It is a quiet week on the data front, but a busy week for Federal Reserve commentary, with an array of policymakers delivering speeches. Rates have actually increased since the Fed cut rates by a half point one month ago.

Persons: Neel Kashkari, Lorie Logan, Jeff Schmid, —, Jeff Cox Organizations: Treasury, Federal, Federal Reserve, Minneapolis, Dallas Federal, Kansas, Traders Locations: U.S

☆ Asia markets open lower after major U.S. indexes slip; India prepares for Hyundai debut
▼ + stars: | 2024-10-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A bronze bull statue outside the Bombay Stock Exchange (BSE) building in Mumbai, India, on Monday, June 3, 2024. India's stock futures jumped after exit polls indicated a resounding victory for Prime Minister Narendra Modi's ruling party in general elections that concluded Saturday. Photographer: Dhiraj Singh/Bloomberg via Getty ImagesAsia-Pacific markets slipped on Tuesday, trailing a mixed session on Wall Street. During the U.S. trading session, two Federal Reserve officials had spoken about the trajectory of interest rates. Dallas Federal Reserve President Lorie Logan said she supports the current move to lowering interest rates, but that a patient approach will be needed.

Persons: Narendra Modi's, Dhiraj Singh, Australia's, Kospi, Neel Kashkari, Lorie Logan Organizations: Bombay Stock Exchange, Bloomberg, Getty Images, Nikkei, Hyundai, Federal, Minneapolis, Dallas Federal Locations: Mumbai, India, Getty Images Asia, Pacific, South, Asia, Hyundai India

"We find President Trump's campaign proposals would dramatically worsen Social Security's finances," the CRFB budget group said in a blog post. Social Security trust funds are set to be exhausted by Fiscal Year 2034, according to the Congressional Budget Office. "If you cut income taxes and cut payroll taxes, then you're going to have an impact on Social Security," Freese said. "I don't believe the Trump campaign is looking to undermine Social Security," said Andrew Biggs, senior fellow at the American Enterprise Institute and former principal deputy commissioner of the Social Security Administration. "And likewise, Social Security is so big, any changes to Social Security will affect other things."

Persons: Trump's, Trump, Karoline Leavitt, Leavitt, Kamala Harris, Maria Freese, Freese, Harris, Andrew Biggs, Biggs Organizations: Republican, CNBC, Social Security, Democratic, Social, Congressional, Trump, National Committee, Preserve Social Security, Medicare, American Enterprise Institute, Social Security Administration, Security Locations: Monday's

☆ 10-year Treasury yield rises above 4.11% as investors monitor Fed speeches
▼ + stars: | 2024-10-21 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The yield on the 10-year Treasury rose about 4 basis points to 4.112%. The yield on the 2-year Treasury was up about 2 basis points to 3.979%. The U.S. 10-year Treasury yield rose above 4.11% on Monday as investors awaited a flurry of speeches from Federal Reserve policymakers. Dallas Fed President Lorie Logan, Minneapolis Fed President Neel Kashkari, Kansas City Fed President Jeff Schmid and San Francisco Fed President Mary Daly are all expected to deliver remarks on Monday as investors await clues on the Fed's monetary policy outlook. The Federal Open Market Committee took the unusual step last month of lowering its baseline interest rate by a half percentage point, or 50 basis points, to a target range of 4.75% to 5%.

Persons: Lorie Logan, Neel Kashkari, Jeff Schmid, Mary Daly, Christopher Waller, Waller, —, Jeff Cox Organizations: Treasury, Federal Reserve, U.S, Dallas, San Francisco Fed, Market Locations: U.S, Minneapolis, Kansas

☆ Social Security's retirement trust fund may run out in nine years. Here's how the next U.S. president may address that
▼ + stars: | 2024-10-19 | by ( Lorie Konish | ) www.cnbc.com time to read: +7 min

As more retirees start to claim Social Security, there are not enough workers contributing to the program to make up for that increase in benefit payments. But the trust fund Social Security relies on to pay retirement benefits is projected to be depleted in 2033. watch nowBoth presidential candidates — former president Trump and Vice President Harris — have vowed to protect Social Security benefits. "Seniors should not pay tax on Social Security," Trump wrote on July 31 in all capital letters on social media platform Truth Social. Ending taxes on Social Security benefits would move the insolvency date of Social Security's trust fund closer by over one year, according to the Committee for a Responsible Federal Budget.

Persons: Donald Trump, Kamala Harris, Allison Joyce, —, Donald Trump —, Trump, Harris —, Jason Fichtner, Mike Blake, Howard Gleckman, Gleckman, Harris, Kevin Lamarque, Joe Biden, Biden, Governor Walz, Mia Ehrenberg Organizations: Art House Theatre, Bloomberg, Getty, Social Security Administration, Democratic, Republican, Social, Social Security, CNBC, Center, Alliance, Lifetime, Income, Trump, Reuters, ABC, Finance, Urban, Brookings Tax, Brookings, U.S, Union, Employers, Center for Economic, Research, Washington Democrats Locations: Fayetteville , North Carolina, Coachella , California, U.S, Detroit , Michigan

☆ As nervous investors worry about the presidential election, public debt is a top concern financial advisors say
▼ + stars: | 2024-10-18 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

- | Afp | Getty ImagesMany investors worry about how the outcome of the presidential election will impact their investments. But there's another risk financial advisors are focused on — public debt, according to a new survey from Natixis Investment Managers. The term public debt is used interchangeably by the U.S. Treasury with national debt and federal debt. Experts say there are certain moves individual investors can make to limit the financial exposure they have to those broader risks. For investors who worry the country's debt may lead to slow growth, it can help to add international exposure to a portfolio, Cheng said.

Persons: —, they're, Dave Goodsell, Marguerita Cheng, Cheng, Goodsell, Bonds, Barry Glassman, Glassman, Roth, Pare Organizations: Elena Bozeman Government, Afp, Getty, Natixis Investment, Natixis Center, Investor Insight, U.S, Treasury, Social Security, Blue, Global Wealth, CNBC FA Council, Wealth Services, CNBC FA Locations: Arlington , Virginia, U.S, Gaithersburg , Maryland

☆ Some workers qualify for a maximum Social Security retirement benefit. But even people with moderate earnings can increase their checks
▼ + stars: | 2024-10-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

With that increase, the maximum Social Security benefit for a worker retiring at full retirement age will jump to $4,018 per month, up from $3,822 per month this year, according to the Social Security Administration. Who gets maximum Social Security benefits? Since Social Security retirement benefits are calculated based on the highest 35 years of earnings, workers need to consistently have wages up to that threshold to earn the maximum retirement benefit. If a wealthy person has other sources of income, for example from investments that do not require payroll tax contributions, that will not affect the size of their Social Security benefits, said Jim Blair, vice president of Premier Social Security Consulting and a former Social Security administrator. How can you increase your Social Security benefits?

Persons: Paul Van de, Van, Water, Jim Blair Organizations: Social, Social Security, Social Security Administration, Security, Budget, Premier Social Security Consulting

☆ Retirees can shop for health-care coverage during Medicare open enrollment. It's a great time to review costs, experts say
▼ + stars: | 2024-10-14 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Changes you can make during open enrollmentDuring Medicare open enrollment, retirees may select new health plans and prescription drug plans. They may switch from original Medicare, which is provided by the federal government, to Medicare Advantage plans that are privately managed. They may also switch from Medicare Advantage to Medicare original or change Medicare Advantage plans. Original Medicare includes Medicare Parts A and B. Medicare Part A covers care provided by hospitals, skilled nursing facilities and hospice, as well as some home health care. Retirees also should be on the lookout for changing Medicare Advantage coverage, Moeller said.

Persons: Tricia Neuman, Ryan Ramsey, Philip Moeller, Moeller, Harris, KFF's Neuman, Neuman Organizations: Getty, Medicare, National Council, Aging, Biden Locations: Connecticut, Maine, Massachusetts, New York

☆ Social Security Administration announces 2.5% cost-of-living adjustment for 2025
▼ + stars: | 2024-10-10 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

More than 72.5 million Americans will see a 2.5% cost-of-living adjustment to benefit payments in 2025, the Social Security Administration announced on Thursday. The Social Security cost-of-living adjustment for 2025 is the lowest annual increase since 2021, when beneficiaries saw a 1.3% increase to benefits. While the cost-of-living adjustment for 2024 was 3.2%, beneficiaries saw the highest increases in four decades in 2023, with an 8.7% increase, and in 2022, with a 5.9% boost to benefits. Now that the pace of inflation has come down, the cost-of-living adjustments are more average. Social Security's annual benefit increases have averaged about 2.6% over the past 20 years, according to the Senior Citizens League, a nonpartisan senior group.

Persons: COLAs Organizations: Social Security Administration, CNBC, Social Security, Senior Citizens League

☆ Gold ticks up, U.S. inflation data in focus
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: +2 min

Gold prices nudged higher on Thursday, while traders await a key U.S. inflation data due later in the day to gauge the Federal Reserve's future monetary policy stance. Spot gold rose 0.2% to $2,614.00 per ounce by 0246 GMT, after easing for the previous six sessions. The U.S. Consumer Price Index for September is due at 1230 GMT and Producer Price Index data on Friday. Markets see an 80% chance of a 25-basis-point Fed rate cut in November. Dallas Fed Bank President Lorie Logan called for gradual cuts and said that the U.S. central bank should not rush.

Persons: Price, Ilya Spivak, Spivak, Mary Daly, Lorie Logan, Israel's Organizations: U.S, Consumer, Treasury, Fed, San Francisco Fed Bank, Dallas Fed Bank Locations: U.S, Iran

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