The financial news that actually matters
Fill up your tank this summer and you are, in a roundabout way, helping to set the size of next year’s Social Security raise. Federal inflation data through April 2026 points to a 3.9 percent cost-of-living adjustment for January 2027, which would add roughly $81 a month to the average retired-worker benefit and mark the…
On June 9, 2026, federal bank examiners will lose one of their most controversial tools: the ability to pressure banks into closing your account because your politics, religion, or legal business activities make someone uncomfortable. A joint final rule from the FDIC and the Office of the Comptroller of the Currency, published in the Federal…
American homeowners are collectively sitting on roughly $35 trillion in home equity, the largest stockpile ever recorded in Federal Reserve data. But for millions of those households, that wealth might as well be sealed behind a glass wall: visible, substantial, and painfully expensive to touch. The problem is the gap between what homeowners already pay…
A parent who took out $30,000 in federal PLUS loans to cover a child’s tuition can, right now, consolidate that debt into a Direct Consolidation Loan and enroll in Income-Contingent Repayment, dropping monthly payments to as little as $50. That door closes permanently on July 1, 2026. Under a final rule the Department of Education…
For the first time in decades, the federal tax code includes a standalone deduction built specifically for Americans 65 and older, and it is worth up to $6,000 per qualifying filer. A married couple filing jointly where both spouses meet the age requirement can claim $12,000. The benefit was created by Section 70103 of the…
Brent crude has not dipped below $108 a barrel in six consecutive trading sessions, held there by a fact that no amount of emergency oil can fully offset: the Strait of Hormuz, the 21-mile-wide passage between Iran and Oman that normally carries roughly one-fifth of the world’s seaborne crude, remains closed to commercial tanker traffic….
The S&P 500 is up roughly 3% in 2026, and virtually every point of that advance traces back to five semiconductor stocks: Nvidia, Broadcom, AMD, Taiwan Semiconductor (via its U.S.-listed ADR), and Marvell Technology. The other 495 names in the index have, collectively, contributed almost nothing. That is the takeaway from market-attribution data tracked by…
Meet Carla, a composite but representative worker: a medical billing clerk in suburban Ohio earning $19.50 an hour, up from $18.80 a year ago. Her 3.7% raise looked solid on paper until gasoline crossed $4.00 a gallon in February and never came back down. By April she was spending $68 more a month on fuel…
When Maria Gonzalez rings up a $48 lunch tab at her taqueria on Chicago’s West Side, roughly $1.20 disappears before she can count the drawer. That cut, called an interchange fee, goes to the bank that issued the customer’s credit card. “I budget for rent, I budget for produce, but I can’t budget for a…
Homes across the country kept getting more expensive in April 2026, stretching an unbroken streak of year-over-year price gains to 34 months. The national median sales price rose 1.5 percent compared with a year earlier, according to RE/MAX’s April 2026 National Housing Report. That streak now reaches back to mid-2023, having survived a mortgage rate…