‘Living paycheck-to-paycheck has become the norm’: Inflation takes its toll on American finances as emergency funds run dry
Inflation is taking its toll on people’s emergency funds. The share of workers who say they are living paycheck-to-paycheck has surged among middle- to high-income...
U.S. Incomes Fail to Grow for Second Year in a Row, Census Figures Show
Americans as a whole have experienced two years in a row of flat or declining household income, new government data showed Tuesday, reflecting the pandemic’s...
Biden Student Debt Plan Would Send More to Richer Families, JPMorgan Data Shows
President Biden’s plan to forgive student loans would send more money to wealthier families than to poorer ones, but lower-income and minority households would be...
Rising Food Prices Could Become a Business Risk, Analysts Say
Rising global food prices and shortages of grain and fertilizer stemming from the war in Ukraine could create further economic turmoil, risk analysts said. In...
Social Security Benefits Are Heading for the Biggest Increase in 40 Years
Social Security recipients are on track to receive the highest cost-of-living increase in more than four decades next year. Social Security checks get an inflation...
‘Savings are gonna run out’: Already battered by high inflation, Fed’s rate hike will hit lower-income and rural Americans hard
The Federal Reserve hiked its benchmark rate by 0.75 percentage points on Wednesday in an effort to temper the rising costs of consumer goods and...
Food Prices Squeeze Poorest in Rich Countries
LONDON—Rampant food inflation is roiling the world’s least-developed nations. It is also hitting poor people in rich countries. Matsentralen Norge, a food-bank operator in oil-rich...
Pension Funds Plunge Into Riskier Bets—Just as Markets Are Struggling
U.S. public pension funds don’t have nearly enough money to pay for all their obligations to future retirees. A growing number are adopting a risky...
‘The pandemic boom in home sales is over’: Mortgage rates soar to highest level since 2009 as the Fed pressures the housing market
Mortgage rates are skyrocketing thanks to the Fed, but buyers who can tough out this difficult, changing market will be rewarded. The 30-year fixed-rate mortgage...
‘Buyers of a median-price home are looking at a monthly mortgage payment that is almost 50% higher than it was a year ago.’ The 30-year mortgage rate dips slightly to 5.1%
The interest rate on the country’s benchmark mortgage product edged downward for the first time since early March, but that doesn’t mean the housing market...