In the past, the Fed believed it had no business trying to deflate asset bubbles -- even though when they pop, they can wipe an economy out almost overnight. But a speech made by recently appointed Federal Reserve Governor Jeremy Stein suggests that policy may be about to change.
Lower gas costs offset more expensive food and higher rents to keep a measure of U.S. consumer prices flat last month. The Labor Department said Wednesday that food prices increased 0.2 percent in December from November. Rents and airline fares also rose. Gasoline prices fell a seasonally adjusted 2.3 percent.
U.S. wholesale prices fell for the third month in a row in December, propelled by falling food and gas costs. The drop is the latest evidence inflation is tame, which means consumers have more money to spend. Low inflation also gives the Federal Reserve more freedom to keep interest rates low.
The fiscal cliff compromise has been signed, clearing up a host of questions about taxes for the near future, and the year that just ended. But the long wait for answers left the IRS in limbo, and that may mean millions of refund checks will be delayed too.
Surveying the raft of end-of-year surveys floating around right now, it quickly becomes apparent that not only are our taxes set to rise in 2013, but the cost of a whole lot of other stuff is going up, too. The question is: How much more expensive will life get in the new year? Here are the grim statistics.
When Congress and President Obama make a budget deal to avoid the fiscal cliff, they're likely to use something called "chained CPI" to tweak how Social Security calculates cost of living adjustments. Here's a plain English explanation of what that means, and how it will effect your retirement.
The seasonally adjusted consumer price index dropped 0.3 percent in November from October, the Labor Department said Friday. Gas prices fell 7.4 percent, the steepest drop in nearly four years. That offset a 0.2 percent rise in food prices.
Inflation may not feel like much when you are working, but it can have a significant impact on the buying power of your retirement savings. These adjustments can help you to minimize inflation's bite.
With a nervous eye on the "fiscal cliff," the Federal Reserve is expected this week to announce a new bond-buying plan intended to further reduce long-term interest rates and encourage borrowing. If it succeeds, it might soften the blow from tax increases and spending cuts that will kick in in January if Congress can't reach a budget deal.
What has young and middle-aged workers most worried about their retirement prospects? Essentially, everything -- from health care costs to tax rates to being able to afford to pay for a roof overhead -- according to a recent survey from T. Rowe Price and Harris Interactive.
Many Americans will make Social Security the bedrock of their retirement plan, but there's more to the benefit than having a birthday and signing up to get your checks. Here are 10 essentials you need to know to get all the money you're entitled to out of the Social Security system.
From the partridge in a pear tree to the twelve drummers drumming, to get all 364 items repeated in "The Twelve Days of Christmas" carol this year, you'll pay $107,300 -- 6.1 percent more than in 2011, reveals the annual Christmas Price Index from PNC Wealth Management.
Rising food costs and higher rents offset a drop in gas prices last month, leaving consumer inflation all but flat in October. The consumer price index rose a seasonally adjusted 0.1 percent, after sharp 0.6 percent gains in the previous two months driven by a spike in gas prices that has since receded.
Americans increased their spending in September at twice the rate that their income grew, a sign of confidence in the economy. Still, consumers made up the difference by saving less for a third straight month, a troubling trend.
Saving for retirement has always been hard. But starting in 2013, the IRS is making it a little easier for you to put more money aside for your golden years. On Oct. 18, the IRS announced that it was upping the contribution limits for IRAs and 401(k) plans.