The Congressional Budget Office (CBO) has given us a sobering look into our fiscal future under the Build Back Better Act (BBBA), estimating that if all the bill’s policies were made permanent, $3 trillion would be added to the national debt over the next 10 years. This is on top of more than $7 trillion
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Living longer can mean having a longer career, whether by choice or necessity. Stopping and starting isn’t easy, but it might be worth it. You’re probably going to need to work longer than you imagined when you were first starting out. After all, you might live to be 100. So let’s call it a 50-year
CNBC’s Jim Cramer said Wednesday it’s possible stocks begin their potential Santa Claus rally a bit ahead of schedule this year, following the Federal Reserve’s closely watched policy decision earlier in the day. The window of time for the so-called Santa Claus rally is technically the final five trading days of a calendar year and
Federal Reserve Chairman Jerome Powell is seen delivering remarks on screens as a trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, December 15, 2021. Andrew Kelly | Reuters U.S. stock futures were slightly higher Wednesday evening after the Federal Reserve signaled it would be aggressive on
Elon Musk says he has a new timeline for his big Mars project — and it’s sooner than you might think. “I’ll be surprised if we’re not landing on Mars within five years,” Musk told Time Magazine, about SpaceX taking humankind to Mars in a story published Monday. Musk, the 50-year-old SpaceX founder and CEO
ljubaphoto | E+ | Getty Images The Covid-19 pandemic exacerbated many differences between haves and have-nots in the U.S. Now, a new survey shows that it also made the savings gap more pronounced between those groups. Of those with incomes less than $50,000, 36% say they now have less savings than before the pandemic, versus
In this article COLM CLBK The days of rock-bottom rates are nearly over. The central bank will aggressively unwind last year’s bond buying sooner than originally planned after recent reports on inflation continued to show a sharp rise in prices. While the Federal Reserve said Wednesday that interest rates will stay near zero for now,
An American Airlines plane lands at Ronald Reagan Washington National Airport November 23, 2021 in Arlington, Virginia. Drew Angerer | Getty Images Airline executives will face questions from a Senate panel on Wednesday about flight disruptions and staffing shortfalls despite the $54 billion in taxpayer aid they took to help cover labor costs during the
In this article LOW An employee organizes buckets for sale inside a Lowe’s Cos. store in Burbank, California. Patrick T. Fallon | Bloomberg | Getty Images Lowe’s said Wednesday that it expects Americans’ appetite for home improvement to continue into 2022, though it may cool after a boom in do-it-yourself and decorating projects during the
In this article JPM The JP Morgan Chase & Co. headquarters, The JP Morgan Chase Tower in Park Avenue, Midtown, Manhattan, New York. Tim Clayton – Corbis | Corbis Sport | Getty Images JPMorgan Chase changed course on its big annual healthcare conference it intended on holding in person in San Francisco next month after
As you’re wrapping up your finances this year, you may want to take advantage of a few investment and tax strategies that could become more expensive or go away altogether in 2022. Financial advisors, retirement consultants and tax experts recommend these savvy money moves to make now — or at least by Dec. 31 —
Construction workers frame a new home being built by CastleRock Communities in the Sunfield neighborhood of Buda, Texas, U.S., on Wednesday, Nov. 10, 2021. Matthew Busch | Bloomberg | Getty Images Surprisingly strong housing demand, even in the usually slower season for housing, has homebuilders feeling increasingly confident. Builder sentiment in the single-family housing market
Despite the rise of the omicron variant, the travel industry is showing signs a recovery is underway. OlgaKhorkova | iStock Editorial | Getty Images After a year of heavy losses, the travel industry is finally showing some signs of bouncing back — even as the emergence of the Covid-19 omicron variant has led some countries
Workers in front of the People’s Bank of China (PBOC) in Beijing, China, on Monday, Dec. 13, 2021. Andrea Verdelli | Bloomberg | Getty Images BEIJING — China’s retail sales missed expectations in November, while industrial production beat, the National Bureau of Statistics said Wednesday. Retail sales for November grew by 3.9% from a year
A Falcon 9 rocket is displayed outside the Space Exploration Technologies Corp. (SpaceX) headquarters on January 28, 2021 in Hawthorne, California. Patrick T. Fallon | AFP | Getty Images A female former employee of Elon Musk’s SpaceX alleged in an essay published Tuesday that the space company’s workplace is “rife with sexism” and that its
Tetra Images | Getty Images Thousands of taxpayers may still be waiting for a tax refund on unemployment benefits collected during the Covid pandemic, as the IRS grapples with a backlog of tax returns. The American Rescue Plan Act, a pandemic relief law, waived federal tax on up to $10,200 of unemployment benefits a person
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CNBC’s Jim Cramer said Tuesday investors need to confront a “new formula” for identifying winning stocks as long as Wall Street remains worried about the Federal Reserve tapping the brakes on the hot U.S. economy. “We have to get used to shrinking valuations for fast growers, especially the ones that trade on a price-to-sales basis,”
Investor Peter Boockvar slammed the Federal Reserve over surging inflation that’s driving up the cost of essential, big-ticket items. As Fed policy makers gather for their two-day meeting on interest rates, Boockvar warned there’s little they can do to cool prices. “Monetary policy mostly and pretty much predominantly influences the demand side of the economy,
Elon Musk, CEO of Tesla and SpaceX, has consistently supported dogecoin, a meme-inspired cryptocurrency. He’s invested in it, along with bitcoin and ether, he said in October. But to Musk, dogecoin has an advantage over bitcoin and other cryptocurrencies: He sees dogecoin as the best cryptocurrency to transact with. “Fundamentally, bitcoin is not a good