Finance News

The financial industry plans to integrate tools like ChatGPT, while human advisors remain essential. Artist Paul Weiner experimented with AI-generated visual disinformation, but sought retirement advice from ChatGPT. The impact of generative AI on jobs and services has professionals and consumers intrigued. As the investment sector adopts AI for financial advice, accuracy, humanity, security, and …

AI-Powered Financial Planning: Unveiling Its Potential Read More »

The Social Security program has been a vital financial support for retired workers for over eight decades. It is crucial for 90% of current retirees. However, the amount of benefits varies significantly. Let’s explore the factors affecting Social Security retirement benefits, the average monthly income for retirees aged 62 to 99+, and methods to increase …

Social Security Retirement Benefits: Average by Age Read More »

The long-predicted recession might already be here, says economist David Rosenberg. Factors like interest rate hikes, housing market slump, job losses, and stock market decline, along with inflation, raised concerns. However, the real indicator of a recession, the gross domestic income (GDI), went unnoticed. GDI dropped 2.3% in Q1 2023, following a 3.3% decrease in …

Top Economist David Rosenberg: Unnoticed Recession Already Here Read More »

Fitch Ratings warns US government: raise debt ceiling or risk economy downgrade. Treasury Secretary Yellen reaffirms June 1 deadline, but no deal yet. Americans’ finances in danger without debt limit increase, affecting mortgages, federal paychecks, and more. House to recess after Thursday votes, negotiators still working. Speaker McCarthy urges lawmakers to stay close over Memorial …

Protecting Investments & Finances Amid Debt Default Concerns Read More »

A recent Pew analysis reveals that young adults in the US are taking longer to achieve key life milestones compared to previous generations. In 2021, fewer 21-year-olds had full-time jobs, financial independence, lived on their own, were married, or had children, compared to those in 1980. However, by age 25, today’s young adults are closer …

Delayed Life Milestones Impact Young Adults’ Finances Read More »

At their last meeting, Federal Reserve officials displayed division on interest rates. Some members favored more increases, while others expected a growth slowdown to eliminate the need for further tightening. The minutes revealed disagreement on the next move, suggesting a shift towards less aggressive policy. Ultimately, the rate-setting Federal Open Market Committee unanimously decided to …

Minutes Show Fed Officials Less Confident in Rate Hikes Read More »

Millions of Americans face bill payment challenges if the US defaults on financial obligations. The impasse over the debt ceiling puts Social Security and government benefits at risk, with dire consequences for older Americans who rely on them for basic needs. According to the Social Security Administration, a quarter of those aged 65 and above …

Worries of Older Americans: Debt Default Threatens Social Security Read More »

UK inflation eases less than expected, raising possibility of more rate hikes. April’s consumer prices rose by 8.7%, down from 10.1% in March but still highest among G7 countries. Economists anticipated a drop to 8.2%, further from October’s 41-year high. The Bank of England (BoE) projected 8.4% inflation for April. Bond prices dropped as investors …

UK Inflation Falls Below Expectations, Pressuring BoE Read More »

Concerns rise over potential halt in Social Security payments for recipients if debt-ceiling compromise is not reached, warns Treasury Secretary. Experts predict payments could cease in July, leaving approximately 67 million Americans in uncertainty. Despite ongoing negotiations, no agreement has been reached yet. Former Social Security claims specialist highlights the risk of Treasury Department shutdown …

Experts Warn: Social Security Payments at Risk in July without Debt Ceiling Resolution Read More »