Author: Press Room

STOCKHOLM (Reuters) -The general council of Sweden’s central bank on Friday said it had picked Anna Seim to replace Deputy Governor Martin Floden, whose mandate expires on May 21. Seim is currently professor of economics and acting director at Stockholm University’s economics department. Seim told a news conference that after spending much of her career understanding and evaluating economic policy she was pleased to get the opportunity to join the rate-setting board and help shape policy. She is appointed to a six-year term, starting on May 22, and the first monetary policy meeting she will take part in is scheduled…

America’s retirement and elder poverty crisis is painful, frightful, and undeniable—yet some experts are denying there is a retirement income security crisis and trying to persuade us there’s nothing to worry about. We wish that were so, but the numbers tell us there is a quite serious retirement crisis. Numbers Show Retirement Crisis Nearly half (44%) of all American households with members aged 55-64 have no savings at all and will have to rely entirely on Social Security. Roughly 52 percent of Americans 65 and older “are living on less than $30,000 annually, and one in four survive on less…

Fannie Mae has lifted its forecast for mortgage rates from just a month ago, saying rates will stay higher for longer than they previously thought — and fewer homes will be sold than they expected in 2024. The government-backed organization said in its February forecast that it expects the average rate for a 30-year fixed mortgage to drop below 6% by the end of the year to 5.9% in the fourth quarter. Now, Fannie Mae expects rates to be a half-percent higher (6.4%) by the end of this year, and remain above 6% for another two years, gradually declining to a…

The U.S. Department of Labor just announced $200 million in grants set to go towards apprenticeship programs. The funding is divided between two opportunities — $95 million for the second round of the Apprenticeship Building Grant Program and $100 million for the second round of the State Apprenticeship Expansion grants.”The second round of Apprenticeship Building America funding announced today continues the Department of Labor’s commitment to providing all of America’s workers with access to training and career preparation that leads to good jobs with family-sustaining wages,” Acting U.S. Secretary of Labor Julie Su said. “These grants serve as another avenue…

The Consumer Financial Protection Bureau (CFPB) is finalizing a rule that limits how much consumers are charged in late fees. The rule caps late fees to 25% of the required payment and ends the automatic inflation adjustment for these charges, according to the CFPB. Credit card companies can still charge late fees, but under the new provision, they must prove that their fees align with their collection costs. The move reduces late fees from an average of $32 to $8 in most cases, resulting in an average annual savings of $220 for the more than 45 million people charged late fees. The…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were higher for 3-year loans and lower for 5-year loans when compared to fixed-rate loans for the seven days before. For borrowers with credit scores of 720 or higher who used the Credible marketplace to…

Delta Air Lines, a major global airline based in Atlanta, Georgia, offers the SkyMiles® loyalty program. Through SkyMiles, members accumulate points with each flight and co-branded credit card purchases, which are redeemable for travel, in-flight amenities, seat upgrades and more. According to the airline’s website, Delta operates hubs at eight U.S. airports and 10 international airports, making it likely that frequent fliers will fly Delta at some point and benefit from the rewards program.How do Delta SkyMiles work? SkyMiles, the name of the loyalty program from Delta Air Lines as well as the currency, allows fliers to earn and redeem…

Amazon is making its largest outside investment in its three-decade history as it looks to gain an edge in the artificial intelligence race. The tech giant said it will spend another $2.75 billion backing Anthropic, a San Francisco-based startup that’s widely viewed as a frontrunner in generative artificial intelligence. Its foundation model and chatbot Claude competes with OpenAI and ChatGPT.The companies announced an initial $1.25 billion investment in September, and said at the time that Amazon would invest up to $4 billion. Wednesday’s news marks Amazon’s second tranche of that funding.Amazon will maintain a minority stake in the company and won’t…

A family of four needs to make more than $275,000 to live comfortably in some of the most expensive U.S. cities, a recent SmartAsset analysis reveals.”Comfortable” is defined as the income needed to cover a 50/30/20 budget for a family of two adults and two kids. This budget assumes that 50% of the monthly income can pay for necessities like housing and utility costs, 30% can cover discretionary spending and 20% can be set aside for savings or investments.SmartAsset extrapolated the income needed for a 50/30/20 budget based on the cost of necessities, using data from the MIT Living Wage…

A yearslong fight between Disney and Florida is set to end after the two parties agreed to a settlement. In a meeting Wednesday morning, members of the board of the Central Florida Tourism Oversight District, a body that governs the special tax district Disney is located in, approved a settlement to end a legal dispute. Republican Gov. Ron DeSantis set up the Central Florida Tourism District to oversee the area in which Disney operates nearly two years ago, amid a growing conflict between the Florida governor and the entertainment giant. The war of words between Disney and DeSantis began in…