Consumer Prices Decline for November
The U.S. Department of Labor reported today that consumer prices declined by 1.7% in November, after a 1% decrease in October. Price declines like this may seem very small to the consumer – a 2%…
Current Events
Stay updated on financial news, market trends, and economic changes that affect your money. From interest rate hikes to government policy shifts, we break down what’s happening now—and what it means for your finances.
Federal Reserve Slashes Federal Funds Rate to Nearly Zero
The Federal Reserve announced today that they cut the federal funds rate to a range of 0 to .25%, down from the previous interest rate of 1%. The rate cut brings the key interest rate…
Unemployment Rises for November 2008
Unemployment rates in the U.S. continue to creep upward as the economy lost over a half a million jobs last month. The Department of Labor reported on Friday that the jobless rate for November is…
President-Elect Barack Obama Outlines Details of Economic Recovery Plan
This morning President-elect Barack Obama outlined details of the economic recovery plan that will create or save 2.5 million American jobs and help both Main Street and Wall Street. Obama plans to strengthen the economy…
President-Elect Obama Plans to Create 2.5 Million Jobs Over Next Two Years
President-elect Barack Obama said in his address on Friday that this week’s news points to the severity of the nation’s economic crisis, citing that new home purchases for October were at the lowest level in…
President Bush Extends Benefits for Unemployed
On Friday, President Bush signed into law H.R. 6867, the “Unemployment Compensation Extention Act of 2008”, to help individuals who have not been able to find work in this difficult economy. The new law extends…
Fannie and Freddie Suspend Foreclosures for the Holidays
Fannie Mae and Freddie Mac announced yesterday that they have suspended foreclosure and eviction proceedings through the holiday season for owner-occupied single family homes, in an effort to help more troubled homeowners work out a…
World Leaders Discuss Global Financial Crisis
Last night President Bush welcomed almost two dozen leaders from around the world, of both developed economies and emerging markets, to the White House State Dining Room for a working dinner to discuss the global…
Obama Urges Congress to Pass Plan to Help Economy
In the Democratic weekly address to the nation today, President-elect Barack Obama expressed that he was glad that President Bush is meeting with world leaders this weekend to coordinate a quick response to the global…
FTC Charges Internet Payday Lender
The Federal Trade Commission, the nation’s consumer fraud protection agency, reported on Thursday that they and the State of Nevada are charging an internet payday loan company and its principals with violating federal and state…