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Search resuls for: "lorie"


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☆ Stocks could continue skittish trading until interest rate move calms down
  + stars: | 2022-09-23 | by ( Patti Domm | In | ) www.cnbc.com   time to read: +6 min
The S & P 500, Dow and Nasdaq were all down sharply for the week. The S & P was down 4.6%, ending the week at 3,693. Fed Vice Chair Lael Brainard , St. Louis Fed President James Bullard , San Francisco Fed President Mary Daly and Fed Governor Michelle Bowman are among the speakers. Other global central banks joined the Fed in raising rates, and interest rates around the world rose in tandem. If those levels break, the S & P could touch 3,385 before the selling is over, he said.
☆ The labor market is still hot — for now. Here's what to consider before switching jobs
  + stars: | 2022-09-22 | by ( Lorie Konish | ) www.cnbc.com   time to read: +1 min
It's still an employees' market, even amid high inflation and talk of a possible recession. That could lead to "some softening of labor market conditions," Federal Reserve chair Jerome Powell acknowledged on Wednesday. The rate increases may push up unemployment, which stands at 3.7%, according to the latest jobs report. Recent research from Challenger, Gray & Christmas found layoffs are at record lows as the labor market stays strong. In the first eight months of the year, employers have announced plans to cut 179,506 jobs, the lowest recorded total since Challenger began tracking those job cuts in 1993.
☆ As 62% of workers cut back on savings amid concerns about the economy, employers emphasize financial wellness
  + stars: | 2022-09-21 | by ( Lorie Konish | ) www.cnbc.com   time to read: +2 min
watch now"Employees still see the 401(k) plan as the central thing they think about when they think about benefits at work," McDonald said. Start by maxing out the most that you can do — not the most that's allowed, but the most you can do — in your 401(k) plan. "Start by maxing out the most that you can do — not the most that's allowed, but the most you can do — in your 401(k) plan," McDonald said. The survey found 60% of employees are paying more attention to reviewing their financial benefits compared to a year ago. Moreover, 84% of human resource leaders say employees have requested financial benefits their companies do not offer, up from 78% in 2021.
☆ Public servants like teachers and police often get reduced Social Security. Congress is weighing a bill that could change that
  + stars: | 2022-09-21 | by ( Lorie Konish | ) www.cnbc.com   time to read: +4 min
Monkeybusinessimages | Istock | Getty ImagesMillions of Americans may receive reduced Social Security benefits if they worked in public roles as teachers, firefighters, police or government workers. "There just aren't that many legislative days left," said Maria Freese, senior legislative representative at the National Committee to Preserve Social Security and Medicare. Why public servants encounter reduced Social SecurityThe Social Security Fairness Act calls for repealing two titles of the Social Security Act that reduce or eliminate benefits for Americans who work in public service — the Windfall Elimination Provision and the Government Pension Offset. The Social Security Fairness Act would fully repeal both rules, thus making benefits more generous for those affected. 82 would need offsets not to have a huge financial impact on the Social Security trust funds, and it doesn't provide that," Sprick said.
☆ Here's everything the Federal Reserve is expected to do today
  + stars: | 2022-09-21 | by ( Jeff Cox | ) www.cnbc.com   time to read: +6 min
Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC. Kent Nishimura | Los Angeles Times | Getty ImagesThere's not a lot of mystery surrounding Wednesday's Federal Reserve meeting, with markets widely expecting the central bank to approve its third consecutive three-quarter point interest rate hike. That's the highest the fed funds rate has been since early 2008. Economic outlook: Part of this week's meeting will see Fed officials issue a quarterly update of their interest rate and economic outlook. Powell presser: Fed Chairman Jerome Powell will hold his usual news conference following the conclusion of the two-day meeting.
☆ One-time presidential pardon will not do much to alleviate student debt crisis, economists say. These changes may be a better solution
  + stars: | 2022-09-19 | by ( Lorie Konish | ) www.cnbc.com   time to read: +1 min
Student loan debtors are poised to get some breathing room after President Joe Biden unveiled a plan last month to forgive up to $20,000 in federal student loans per borrower. But some experts say the one-time presidential pardon will not do much to alleviate the student debt crisis affecting millions of borrowers around the country. Student loans provided by the government similarly place an undue burden on younger Americans, he said. More from Personal Finance:How student loan forgiveness will be applied to your debtsKey events on the path to student loan forgivenessHow to calculate your bill for student loan forgiveness"My message would be, 'Don't borrow for college to begin with — period,'" Kotlikoff said. That's as more than 40 million people hold $1.7 trillion in student loan debt.
☆ Citi expands program to help diverse communities reach 'transformational' homeownership milestone. Here's who qualifies
  + stars: | 2022-09-09 | by ( Lorie Konish | ) www.cnbc.com   time to read: +7 min
Research has found that Black homeownership has declined. If the rate of Black homeownership were the same today as it was in 2000, there would be 770,000 more Black homeowners, according to the Urban Institute. watch nowEven as the U.S. homeownership rate surged to record highs in 2020, Black homeownership was still lower than it was a decade ago, according to the National Association of Realtors. Who qualifies for Citi's lending programCiti's HomeRun community affordable lending program is eligible to low- to moderate-income borrowers based on census data. In order to expand credit access for homeownership, Citi will look at alternative ways of assessing credit readiness, according to Frison.
☆ They Want to Shut You (and 303 Creative) Up
  + stars: | 1791-12-15 | by ( Daniel Henninger | ) www.wsj.com   time to read: 1 min
Lorie Smith , meet Elon Musk, Donald Trump and millions of other Americans who for more than 200 years have been able to say what they think, protected by the First Amendment. Thursday, in fact, is the Bill of Rights’ 231st anniversary, the law of the land since the Virginia Legislature’s ratification vote Dec. 15, 1791. Colorado, which joined the Union in 1876, wants the Constitution’s free-speech right to be significantly altered and is asking the U.S. Supreme Court to create a list of First Amendment exceptions.
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