Sunday, June 20, 2021
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Financial advisors shrug off Fed’s inflation, interest rate forecasts

The Marriner S. Eccles Federal Reserve building in Washington.Stefani Reynolds/Bloomberg via Getty Images"None of this really impacts what people are going to be doing the next six months," said Lee Baker, a certified financial planner and owner of Apex Financial Services in Atlanta, of clients' financial plans."For most clients,

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States to end unemployment benefits for more than 400,000 people this weekend

Eric Holcomb, governor of Indiana, speaks at the White House on June 26, 2020.Al Drago/Bloomberg via Getty ImagesMore than 400,000 people are poised to lose unemployment benefits this weekend as eight states withdraw early from pandemic-era programs.Alabama, Idaho, Indiana, Nebraska, New Hampshire, North Dakota, West Virginia and Wyoming are

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Tax refunds and stimulus checks delayed by identity fraud crossfire

Samuel Corum/Bloomberg via Getty ImagesJeff Lavigne plans to use a tax refund this year for long-delayed medical help.Yet his refund, almost $2,700, has been in limbo since mid-March, when Lavigne filed his tax return, records show.The IRS flagged the return for potential identity theft — as it did for

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Biden plan would raise taxes by $213,000 next year on top 1%, analysis finds

Samuel Corum | Getty Images News | Getty ImagesThe top 1% would see their federal taxes rise by more than $213,000, on average, next year as a result of President Joe Biden's tax plan, according to an analysis published Wednesday by the Urban-Brookings Tax Policy Center.Such households, which earn

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Gold as an inflation hedge? History suggests otherwise

DAVID GRAY | AFP | Getty ImagesGold is often touted as a way to hedge against inflation — a risk that's top of mind for investors right now.But gold hasn't lived up to the hype. Its record has been spotty, according to historical data.An investment that hedges against inflation

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States will start cutting off federal unemployment benefits this week. Here’s a map of where (and how soon) aid is ending

A Help Wanted sign in the Queens borough of New York on June 4, 2021.Spencer Platt | Getty Images News | Getty ImagesThere are 25 states ending their participation in federal unemployment programs early — some as soon as this week.Alaska, Iowa, Mississippi and Missouri will be the first

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Is there a labor shortage? What the May jobs report tells us

A help wanted sign is displayed outside of a business before Memorial Day near the boardwalk in Wildwood, New Jersey.Spencer Platt | Getty Images News | Getty ImagesThe weaker-than-expected April jobs report fueled speculation of U.S. labor shortages and led some state officials to declare an early end to

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Long-term unemployment is falling for first time during pandemic

A store advertises a Help Wanted sign in Annapolis, Maryland, on May 12, 2021.JIM WATSON | AFP | Getty ImagesLong-term unemployment fell for the second straight month in May, an encouraging shift away from the recent near-record levels fueled by the economic carnage of the Covid pandemic.Economists classify long-term

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Monthly child tax credit may offer lifeline to families losing federal unemployment benefits

MoMo Productions | DigitalVision | Getty ImagesMore than two dozen states are opting out of federal unemployment programs early, meaning nearly 4 million Americans will see their benefits reduced or cut entirely.But monthly payments of the child tax credit, slated to start July 15, may offer a financial lifeline

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3.7 million Americans set to lose unemployment benefits early as 25 states exit federal programs

Maryland Gov. Larry HoganChip Somodevilla | Getty Images News | Getty ImagesAround 3.7 million Americans will be affected by states' early withdrawal from federal unemployment programs, according to a CNBC analysis of Labor Department data.In the past month, 25 states have announced plans to end pandemic-era benefits ahead of

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