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Federal Reserve officials at their December meeting expressed concern about inflation and the impact that President-elect Donald Trump‘s policies could have, indicating that they would be moving more slowly on interest rate cuts because of the uncertainty, minutes released Wednesday showed. Without calling out Trump by name, the meeting summary featured at least four mentions
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Erin Collins, national taxpayer advocate at the Taxpayer Advocate Service, speaks at a Senate Appropriations subcommittee hearing in Washington, D.C., on May 19, 2021. Bloomberg | Bloomberg | Getty Images As the IRS faces scrutiny from a Republican-controlled Congress, the agency’s internal watchdog has urged lawmakers to preserve taxpayer service and technology funding. The National
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The rally in bitcoin and other cryptocurrency prices has generated excitement among some investors, but investment advisors are largely still skeptical that those volatile assets belong in a 401(k) plan or other qualified retirement savings plans.   Crypto was one of the fastest-growing categories of exchange-traded funds in 2024. The most popular of these funds, the
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The Congressional Research Service found that by the end of 2023, more than 2 million Social Security beneficiaries had their retirement incomes reduced because of two programs: the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). The Social Security Fairness Act, which was signed into law on Sunday, eliminates this benefit reduction. Who is
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Damircudic | E+ | Getty Images There’s one upside to your student loan payments: they might reduce your 2024 tax bill. The student loan interest deduction allows qualifying borrowers to deduct up to $2,500 a year in interest paid on eligible private or federal education debt. Before the Covid pandemic, nearly 13 million taxpayers took advantage of the
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Federal Reserve Governors Michelle Bowman and Christopher Waller pose for a photo, during a break at a conference on monetary policy at Stanford University’s Hoover Institution, in Palo Alto, California, U.S. May 6, 2022. Picture taken May 6, 2022. Ann Saphir | Reuters The early departure of the Federal Reserve’s top financial regulator allows for
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