Author: Press Room

House Speaker Mike Johnson and Senate Republicans are looking for ways to advance their agenda next year if former President Donald Trump were to win back the presidency. Top of the list: a tax overhaul. In a meeting with Senate Republicans on Wednesday, Johnson highlighted using a procedural tool known as reconciliation to move ahead with the GOP agenda. Reconciliation allows the Senate to pass legislation with just a simple majority vote and has been used by both parties in the past to advance changes to health care and tax policy among other issues. The GOP used the process under Trump…

Saving for retirement requires dedication and time. During those years, however, market movements will make significant jumps that you can then celebrate. And we’re in the middle of such a shift. A recent Fidelity study highlights this very fact. According to a review of Fidelity 401(k) accounts, the number of participants with more than $1 million in assets within the account has increased by 15% in the first quarter of 2024, compared to end of 2023. This is a result of the market moving forward – it’s up 11% through 2024 and 25% over the past year. All-in-all, the number…

Americans may be missing out on an essential college savings tool, according to a recent survey. Half of all adults saving for education don’t know about the benefits of using a 529 savings plan, and less than a quarter of them are using this financial tool to save for college, according to the Edward Jones survey. Additionally, only 25% know that these plans can be used to fund more than just higher education. The biggest obstacle preventing more Americans from using 529 plans is the misconception that they require more savings or income to open. “A 529 education savings plan is…

The Federal Reserve on Wednesday kept its key interest rate unchanged and signaled that just one cut is expected before the end of the year.With markets hoping for a more accommodative central bank, Federal Open Market Committee policymakers following their two-day meeting took two rate reductions off the table from the three indicated in March. The committee also signaled that it believes the long-run interest rate is higher than previously indicated.New forecasts released after this week’s two-day meeting indicated slight optimism that inflation remains on track to head back to the Fed’s 2% goal, allowing for some policy loosening later…

The Federal Reserve on Wednesday projected only one rate cut for the remainder of 2024, down from its March forecast that called for three reductions.The central bank’s “terminal rate” for 2024, or the rate at which its benchmark fed funds rate will peak, went up to 5.1%, equivalent to a target range of 5%-5.25%. That means that the Fed is only forecasting one quarter-point rate cut from the current target range of 5.25% to 5.5%.The so-called “dot plot,” which indicates how 19 FOMC members, both voters and nonvoters, showed four officials in favor of no cuts this year, while seven…

Grocery prices stayed flat in May, after ticking down the month before. But menu prices, a source of frustration for budget-conscious consumers, are still going up — even as restaurants brag about their discounted meals. Menu prices rose 0.4% at sit-down restaurants from April to May, adjusted for seasonal swings, according to inflation data released Wednesday by the Bureau of Labor Statistics. In that time prices ticked up 0.2% at limited service spots, which include fast casual and fast food joints. The difference between grocery increases and menu price inflation was more pronounced for the full year. Grocery prices rose…

Digital Turbine (NASDAQ:APPS) financial results continue to disappoint, dragging the stock lower, despite a very low valuation. Extremely weak Q4 results were largely attributed to soft device sales and the migration of the company’s tech stack onto a consolidated platform. Digital Turbine’s performance has been poor for the past two years though, making it difficult to continue shifting blame onto the macro environment. While there is doubt hanging over the company, and a sizeable amount of debt, the equity could prove to be extremely cheap if Digital Turbine can stabilize its revenue and rein in costs. SingleTap and consolidation of…

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American intelligence officials believe that Yahya Sinwar, the powerful leader of Hamas in Gaza who is thought to be the group’s key decision-maker on any potential ceasefire deal, likely believes the group can survive Israel’s attempt to destroy it and feels confident it is well-positioned to approach negotiations from a place of strength, according to US officials familiar with recent assessments. The goal for Hamas is to survive, these sources say — that would be victory for the group. Sinwar likely believes Hamas can hold out while Israel’s global standing deteriorates as the war in Gaza, which has killed thousands of civilians, continues. A senior Biden…

Learning about services that Medicare covers, and their cost, is an important discussion topic for Medicare beneficiaries. However, there is one subject that rarely comes up: hospice, end-of-life care for the terminally ill. Many studies have shown that earlier end-of-life care can have a positive impact: reduced administration of unnecessary medications, fewer hospital admissions and less depression in survivors. As a homecare nurse, I witnessed the value of hospice care. Yet, in too many cases, it was a last-minute decision and neither the patient nor the family reaped the full benefit. Perhaps a brief Q&A can plant the seed so…