For the first time in a decade, the Federal Reserve is likely to cut interest rates. Citing the “crosscurrents” of slowing global growth, uncertainty over trade policy, and static prices, the central bank will preemptively shave 0.25 percent from the fed funds rate, putting the new range at 2-2.25 percent.
Read MoreNearly two years after credit monitoring company Equifax announced that a “Cybersecurity Incident” had exposed personal information of 147 million Americans, it will pay at least $575 million, and potentially up to $700 million, to end a federal, state, and consumer claims against it. If the proposed settlement receives federal district court approval (as expected), it would be the largest ever for a data breach.
Read MoreAs corporate earnings dribble in and the results of the Federal Reserve’s next policy meeting are more than a week away, it’s a good time for a reality check across a few key areas:
Read MoreDow 27K! S&P 500 3K! NASDAQ 8200! Just months after the bull market in stocks and the current expansion each became the longest on record, U.S. equity indexes reached more milestones last week. Sure, the economy is expanding, but you can thank one person for the recent leg up in the bull market rally: Fed Chairman Jerome Powell.
Read MoreWhen I was a young trader, my employer sent a group of us to a crash course in options strategies. As we piled into the classroom, there was a chalkboard with one word written on it: “KISS”. The professor quickly pointed out that KISS stood for “Keep It Simple, Stupid” and it was a mantra that we should repeat if we wanted to be successful on Wall Street.
Read MoreWhile many were enjoying an extended break last week, there was good news and bad news on the financial independence front. For the economy, independence from a Federal Reserve rate cut proved to be the right course of action, at least for now.
Read MoreAs more employers incorporate Roth options into work-based retirement accounts, many of you have written to ask which one is preferable. As always, the answer depends on your situation. The big difference between a traditional retirement option and a Roth is about when you pay taxes. With a traditional option, you pay in the future and with a Roth, you pay today.
Read MoreIn a week, the U.S. economy will celebrate its longest expansion on record (or at least since records were first kept in the 1850's). As of July, there will have been 121 consecutive months of growth, surpassing the 120 months of the technology boom of the nineties. (As a frame of reference, the average expansion lasts 58 months)
Read MoreWedding season is upon us and with the national average cost of a wedding at nearly $34,000, according to The Knot's annual survey, newlyweds are getting a crash course in personal finance. Gone are the days when someone else pays for the nuptials, 91 percent of the respondents contributed some dough to the big event and 80 percent created a wedding budget, more than half who did so, spent more than the allotted amount.
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