President Joe Biden on Friday hailed passage of a bipartisan deal to raise the U.S. debt limit and avoid a government default, addressing the nation from the Oval Office. “No one got everything they wanted, but the American people got what they needed,” the president said. “We averted an economic crisis and economic collapse.” Biden…
The U.S. Senate voted 63-36 in favor of a crucial debt-ceiling bill on Thursday night, sending the measure to President Joe Biden to be signed into law. The Fiscal Responsibility Act, which the Republican-run House of Representatives approved on Wednesday night in a 314-117 vote, raises the ceiling for federal borrowing and avoids a market-shaking…
In a U.S. Senate Banking Committee hearing on Wednesday, Senator Elizabeth Warren brought up the use of crypto to fund trade in the opioid fentanyl between China and the United States. “Fentanyl is among the leading causes of death among Americans 18 to 45,” said Warren. “China is the leading supplier of chemical ingredients called…
The U.S. House of Representatives voted 314-117 in favor of a crucial debt-ceiling bill on Wednesday night, keeping Washington on track to meet the Treasury Department’s Monday deadline. There were 149 Republicans and 165 Democrats voting for the measure, while 71 Republicans and 46 Democrats voted against it. Those tallies show the extent…
While President Joe Biden and House Speaker Kevin McCarthy reached a debt-ceiling deal over the holiday weekend, that doesn’t mean it’s now all smooth sailing. Congress still must give its OK, starting with the Republican-run House of Representatives. Here’s what’s next, as the Treasury Department has called for action by this coming Monday in order…
Minutes of the Federal Reserve’s May policy meeting show that officials were divided over the path forward. At their meeting, the Fed hiked its benchmark interest rate by a quarter of one percentage point to a range of 5%-5.25%. The central bank also altered its forward guidance to indicate it could pause at their next…
Citigroup Inc. announced Wednesday that it decided to pursue an initial public offering (IPO) of its “Banamex” consumer, small business and middle-market banking operations in Mexico. The banking giant said the business will keep its name Banco Nacional de México (Banamex) after the IPO, which is expected to take place in 2025. The IPO will…
I am married, but we are both different people, and I get the feeling my husband doesn’t even like me. He’s too tired to leave, and we don’t have anything but bills. He doesn’t have a driver’s license, and he won’t even go to court to pay his fines and get it back. He’s content…
For many of us, the upcoming Memorial Day weekend is the unofficial start to the summer season. But we should never forget the true meaning of Memorial Day itself (Monday, May 29) — an occasion to honor those who died while serving their country. The national holiday traces its roots back to 1868, when a…
Generation Z is getting smarter about their money, with some starting to invest even before they turn 18, according to a new report. The survey by FINRA Investor Education Foundation and the CFA Institute, which defines Generation Z as those aged between 18 to 25, concluded that 6 in 10 owned at least some investments….
Although they are marketed as having no fees and no interest, some buy now, pay later products do include such charges — but it can be hard for consumers to know what they are getting into. That’s according to new research by Consumer Reports, which looked at major companies’ lending, privacy and consumer-protection policies. The…
Financial Literacy Month puts a spotlight on the financial knowledge Americans are supposed to know and often don’t. But what about financial knowledge that we think we know, but should reconsider? When it comes to money, we pick up lessons from a mish-mash of sources ranging from parents to TikTok videos to high school classes….
I’m a 46-year-old woman, and single mother to a 14-year-old boy. I bought a centrally located house in Miami after the housing market crash in 2010 for $167,000. The house is small but has a big lot in front of it, and I currently owe $128,000. The house is now worth about $400,000. I have…
Oil futures settle higher on Friday, contributing to a gain for the week, as investors weighed prospects for further cuts in crude production when the Organization of the Petroleum Exporting Countries and its allies meet in early June. Price action West Texas Intermediate crude for July delivery CL00, +1.35% CL.1, +1.35% CLN23, +1.35% rose 84…
Dear Quentin, My brother-in-law is being honored by an organization that provides medical assistance to children of families who can’t afford their treatments. I was included on the email invitation, and the ticket price is $375 per person. I feel that it is unfair to ask an individual to incur such an expense. I feel…
The numbers: The number of Americans who applied for unemployment benefits before Memorial Day weekend totaled a low 229,000 after Massachusetts took dramatic steps to weed out a massive increase in fraud. New jobless claims in the seven days ended May 20 rose by 4,000 from 225,000 in prior week, the Labor Department said Thursday….
Americans want to travel this summer, but they’re stressed out about money. Luckily, experts say there are ways to find cheap flights — but it may require a bit of detective work. “All estimates show that it’s going to really be a busy summer,” Ben Ayers, a senior economist at Nationwide Economics, told MarketWatch. The…
Mastercard Inc. will roll out its first U.S. credit card for visually impaired consumers, done in partnership with Citizens Financial Group. Citizens’ CFG, -2.98% new private-client credit card will feature a square notch on the side of the card meant to signify to blind and partially sighted customers that the card is a credit card,…
The U.K.’s Competition and Markets Authority on Wednesday said it has provisionally found that Citi, Deutsche Bank, HSBC, Morgan Stanley and Royal Bank of Canada broke competition law by exchanging sensitive information on U.K. government bonds in one-to-one online chats. The regulator said the conversations in Bloomberg terminal chats and the alleged unlawful behavior took…
The housing market is about to hit another speed bump, with mortgage rates rising above 7% for the third time this year. The 30-year fixed-rate mortgage rose from 6.95% on Monday to 7.01% on Tuesday afternoon, according to Mortgage News Daily. The 30-year rate was last above 7% in March, according to historical data. (Other…