Fed Sticks to Stimulus Plan, Warns Growth Hampered by Budget Cuts
The Fed is sticking with its bond-buying plan to push down borrowing costs and prop up the economy, citing risks to growth from recent budget tightening in Washington.
InterestRates
No Surprises Expected as Fed Ends 2-Day Meeting
The Federal Reserve is widely expected Wednesday to stick with its aggressive efforts to strengthen a still-subpar economy.
The LIBOR Scandal Explained in One Simple Infographic
The LIBOR scandal is being called the "Wall Street scandal of all scandals" but the nature of this massive fraud can be hard to fathom. This nifty infographic from AccountingDegree.net gives non-finance folk an idea of what the scandal is all about.
No Pain, but No Gain: Why It's Time to Dump Your Money Market Mutual Funds
U.S. savers have trillions of dollars in money market mutual funds due to their perceived safety. But in recent years, they've been earning their investors less than 0.1% a year -- and they may not even be a safe as you thought. Here's why it's time to pull your money out.
The $800 Trillion Scandal: How Banks' LIBOR Lies Affected You
The incredible LIBOR rate-rigging scandal is huge, and it's only going to grow in scope: Many of the world's largest banks have already been implicated in manipulating interest rates that are tied to some $800 trillion in loans and securities.
European Central Bank Cuts Rates to New Low to Help Economy
The European Central Bank has cut its key interest rate by a quarter percentage point to a record low of 0.75% to boost a eurozone economy weighed down by the continent's crisis over too much government debt.
You're a Responsible Borrower? 'So What?' Say Credit Card Banks
Lately, the banks that issue credit cards have seen some big improvements in the way their customers have been handling their bills. But no surprise -- the card companies aren't repaying the favor.
Fed Extends 'Twist' Program to Drive Interest Rates Lower
The Federal Reserve acted Wednesday to lift an economy that's being held back by a weakened job market, extending a program designed to spur borrowing and spending through lower long-term interest rates.
Get Ready, America: The Debt Ceiling Debate Is Back
The U.S. is again closing in on its debt limit, and if a recent statement by Republican Speaker of the House John Boehner is any indication, another fight with the Obama administration over the issue is ahead. Here's a preview of what we might expect.
Economically, What Happens in Europe Doesn't Stay in Europe
Sunday's elections in France and Greece were a firm vote against austerity, and regardless of the merits of either side of the debate, that means the future of the eurozone is again in doubt. Here's why the bond markets care so much -- and why you should, too.
Yo-Yo Financing: Don't Fall for This Car-Buying Speed Trap
When car buyers take possession of a vehicle before their financing arrangements are complete, they're risking a big money mess if the loan falls through. And some less scrupulous dealers will take advantage. Here's what you need to know to avoid the yo-yo financing trap.
Spain Is Struggling With Its Debt, and You Should Be Worried
Rising Spanish bond yields: If you've heard those four words in the news recently, you may not have paid much attention. But that phrase foretells a potential crisis that could swamp America's fragile economic recovery.
Municipal Bonds Aren't Just for the Rich Anymore
This income investment has become more attractive recently. Yet because it's perceived as being strictly for the wealthy, many ordinary Americans never think twice about it.
When Is the Right Time for You to Start Taking Social Security?
Start early and get less each month? Wait longer and get bigger checks, but fewer of them. We break down the math.
Fed Notes Better Economy, Takes No Policy Action
The Federal Reserve offered a more positive view of the economy after a burst of hiring since its last meeting. It held off taking further steps to boost the recovery and reiterated its plan to keep short-term interest rates near zero until at least late 2014. The Fed's statement issued after Tuesday's one-day meeting was more upbeat than the one it released in January.
Brokerage Credit Cards: Can One Boost Your Portfolio?
It's easy to understand the allure of brokerage credit cards. They're cash-back cards that route the the kickbacks into a brokerage account for capital appreciation. Free money creating more free money: What could possibly go wrong?
Is Your Bank Killing Free Checking?
Wells Fargo stopped offering free checking to new customers in 2010, but if you already had it, they didn't take it away. Now, it's introducing a $7 monthly charge in six (thus far, unidentified) states for customers with those formerly free checking accounts.
Bad 'Dream': Renters Often Do Better than Homeowners
Becoming a homeowner is a rite of passage in America, while renting gets no respect. But when you look at how we really live, it turns out that, even ignoring the recent crash, home ownership isn't the great deal for our finances that we've been led to believe.
The Money-Saving Refi Move You've Never Considered
Millions of homeowners have garnered huge savings in recent years from one simple move: refinancing their mortgages. Now, the refinancing craze has spread to an unexpected industry: car loans. Could an auto refi be a smart move for you?
The Best Place to Put Cash: Extra Mortgage Payments
Eenie, meenie, miney, moe -- where should my cash savings go? That's the riddle many Americans are trying to figure out these days. After the necessities are taken care of, it's time to choose: mattress, stock market or mortgage? Do the math and the answer is clear.
What Makes a Great Balance Transfer Credit Card?
If you're burdened by credit card debt, lenders want to help you -- by adding more plastic to your arsenal in the form of a balance transfer card, which offers generous up-front terms for moving your debt. And some of those offers are much more generous than others.
The Pitfalls of Debt Consolidation Loans
Debt consolidation loans may seem like a great way to manage debt without taking the drastic step of declaring personal bankruptcy, but in many cases the too-good-to-be-true promise of significantly lower monthly payments are just that: an illusion.
The Tricks to Maximizing the Cash-Back Card Payoff
Savers love cash-back cards, which return a fraction of what you spend in good old U.S. currency. Disciplined consumers can bank hundreds of dollars yearly: The key is knowing how to maximize your payback.
Credit Card of the Week: A Rewarding Venture for Some
Banks offer all sorts of credit cards. For the savers, there are cash-back cards. For the indebted, there are balance transfer cards. For the shoppers, there are retail cards. And for travelers like me, there are rewards cards.
Fed Unlikely to Raise Rates Until at Least 2014
The Federal Reserve went further than ever Wednesday to assure consumers and businesses that they'll be able to borrow cheaply well into the future. The Fed pushed back the earliest date for any likely increase in its benchmark interest rate by at least a year and a half, until at least late 2014. It said record-low rates are still needed to help boost an improving but still sluggish economy.
Bonds Beat Stocks in 2011, But Don't Bet on a Repeat
For the first time in several decades, the 30-year annualized returns of Treasury bonds surpassed the dividend adjusted gains of the S&P 500 in 2011. Take a picture if you want -- because this won't last.
Credit Card of the Week: Simmons First Visa Platinum
Millions of Americans use credit cards, but are we getting the best deals we could? For those who confined their search to the major banks, the answer is probably not. Today, we kick off an ongoing series in which we'll profile some of the best offerings in plastic.
Fed to Regularly Forecast Interest-Rate Changes
In a major shift, the Federal Reserve will start updating the public four times a year on how long it plans to keep short-term interest rates at record lows, according to minutes from its December policy meeting. The first forecast will be included in the central bank's economic projections after its Jan. 24-25 meeting, the minutes said.
5 Ways Europe's Woes Will Hit Your Finances in 2012
By most indications, the U.S. economy is recovering fairly well for the time being. But across the Pond in Europe, another story is unfolding that has the stock market worried -- and it should have your attention, too.
Paper Savings Bonds Soon to Become Extinct
For decades, Americans have bought savings bonds, both as an investment and as a way to support their country. But the once-ubiquitous bonds will soon disappear into cyberspace. As of Jan. 1, the Department of the Treasury will no longer offer savings bonds in paper form -- only online.