Federal Reserve Bank of Chicago President Austan Goolsbee recently expressed his views on the difficulty of reaching the 2% inflation target by 2024 at the Society for Advancing Business Editing and Writing’s annual conference. Despite the Fed’s commitment to this goal, Goolsbee acknowledged that the path to achieving it is becoming increasingly challenging due to
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The U.S. is on the brink of a significant increase in the number of centenarians in the next few decades. According to a Pew Research Center analysis of U.S. Census Bureau data, it is estimated that by 2054, there will be approximately 422,000 Americans aged 100 and above. This marks a significant increase from the
As the annual rate for newly purchased Series I bonds is expected to fall below 5% in May, many long-term investors are considering their options. The current interest rate stands at 5.27% for new I bonds purchased before May 1, but experts are predicting a drop to around 4.27% based on inflation trends. However, investors
As the deadlines for college enrollment quickly approach, a significant number of students are grappling with the uncertainty of how they will afford their education in the upcoming academic year. The issue is exacerbated by ongoing difficulties with the Free Application for Federal Student Aid (FAFSA) process, which has not only resulted in delayed financial
April 20 marks the beginning of National Park Week, a nine-day celebration that allows visitors to explore the beauty of national parks across the United States. As a special treat, on April 20, the federal government is waiving entrance fees for all national parks. This is a great opportunity for nature lovers and adventure seekers
Speculation surrounding the annual rate for Series I bonds suggests a potential drop below 5% in May. This forecast is based on the most recent inflation data and various other influencing factors. Although the projected rate would be lower than the current 5.27% interest on I bond purchases made before May 1, it remains higher
President Joe Biden and Vice President Kamala Harris recently released their annual tax returns, shedding light on their financial situations and providing valuable lessons for average Americans. In 2023, President Biden and first lady Jill Biden reported a joint adjusted gross income of $619,976, marking a 7% increase from the previous year. They paid $146,629
The Biden administration recently unveiled a draft text of its proposed student loan forgiveness plan, aiming to alleviate the financial burden on millions of borrowers. The official rules are set to be published in the Federal Register, followed by a 30-day comment period. U.S. Secretary of Education Miguel Cardona expressed the administration’s commitment to revamping
As the National College Decision Day approaches, many high school seniors are facing unprecedented challenges in making informed decisions about their college options. This year, delays in financial aid award letters have left students and their families in the dark about their financial commitments, making it difficult to choose the right college based on their
In a recent study by Northwestern Mutual, Americans cited $1.46 million as the amount they believe they will need to retire comfortably. This figure has increased significantly over the past few years, reflecting the rising cost of living in the country. However, experts caution against fixating on this “magic number” when planning for retirement. According