Financial related news.
WASHINGTON (AP) — The solid growth that the country enjoyed before the viral pandemic paralyzed the economy this spring failed to reduce racial disparities in Americans' income and wealth from 2016 through 2019, according to a Federal Reserve report released Monday. Though black and Hispanic households reported sharper gains in wealth than white households did, [...]
The mystery isn't why so many people file for bankruptcy each year. It's why more people don't. Each year, only a fraction of the Americans who could benefit financially from bankruptcy actually seek relief. Economists say some don't file because collectors aren't aggressively pursuing them, while others may strategically delay filing because bankruptcy could benefit [...]
As cardholders experience financial difficulties due to COVID-19, some credit card issuers are promoting their hardship programs. Once a well-kept secret, these programs are now more prominently advertised, offering things like deferred payments and lower interest rates. But not all cardholders will qualify or receive favorable terms. If you've been denied COVID-19 relief, if it's [...]
Nearly three quarters of individuals saving for retirement believe the global pandemic brought on by the coronavirus has had a negative impact on how long they are able to live off their current retirement savings, a new survey by the Nationwide Retirement Institute revealed last week. The annual study found that nearly two-thirds of investors [...]
WASHINGTON (AP) — With the economy still struggling to recover from the pandemic recession, Federal Reserve policymakers signaled Wednesday that their benchmark short-term interest rate will likely remain at zero at least through 2023 and possibly even longer. Fed chair Jerome Powell said at a press conference that while the economy has rebounded more quickly [...]
You may not have started 2020 thinking about a move. But like it or not, many of us have had to reconsider our living situations during the pandemic. Maybe you're one of the lucky ones who can now work remotely, or maybe you're out of a job like millions of others. You may be wondering [...]
The coronavirus has upended countless jobs, schools and bank accounts. But while undoubtedly more people are struggling than not, those who are still working may have seen their expenses actually drop due to canceled travel, limited dining options and more time at home. If you've managed to end up with extra money during the pandemic, [...]
WASHINGTON (AP) — The latest Federal Reserve survey of the nation’s economic activity found generally modest gains in August but also pessimism about the future given the threats posed by the coronavirus. The Fed report made public last week said that a theme echoed across the country is the lingering uncertainty stemming from the pandemic [...]
Historically, Labor Day weekend is an opportune moment to get a great deal on a new vehicle. But this time around, the great deal could very well come about by selling or trading in your car. Factory shutdowns or slowdowns related to the COVID-19 pandemic have limited the number of new 2021 vehicles arriving at [...]
If the pandemic caused you to relocate across state lines, even temporarily, the next surprise could be having to file an extra tax return and potentially pay more taxes. The issue gained national attention in May, when Gov. Andrew Cuomo of New York said out-of-state health care workers who came to help with the pandemic [...]