Economy Feed

As inflation weary voters head to the polls Tuesday, oil companies are chortling all the way to the bank

It’s one of the biggest frauds unleashed on the American public: high gas prices despite falling oil prices. As consumers prepare to vote, it’s often the high gas prices that are on their minds. Recently, I wrote about price gouging: about one-third to half of the current inflation in the U.S. is being caused by corporations making excessive profits. Read more →


Biden administration takes action on ‘junk fees’ to help financially stressed consumers

For years, I’ve suggested that consumers consider banking with a credit union rather than a bank. Why? Consumers often can’t trust banks not to gouge them with high interest rates and fees. It was great to listen to President Biden speak on the radio and on television about the action his administration is taking on “junk fees.” Read more →


Should you buy an I Bond before the Oct. 28 deadline?

Michelle Singletary, financial writer for The Washington Post, has been recommending buying Series I Bonds for months now. Singletary says for investors with money to spare and who are looking for safety, inflation has been good for Series I Bonds, which the Treasury Department announced will be paying 9.62 percent until the end of October. Read more →


Why isn’t anyone talking about price gouging causing a third or more of inflation?

Americans are being challenged by the highest inflation in 40 years. It’s everywhere. At the grocery store, the gas pump, in rent checks, when you buy prescription drugs, and more. With the mid-term elections coming up soon, I thought everyone would be talking about price gouging and inflation. Read more →


Cities with the most and least student debt

College debts are one of the largest financial burdens for Americans. They make up the second highest type of household debt after mortgages, totaling $1.61 trillion. That’s about $37,000 per borrower. High balances with payoff times that lasts into middle age force graduates to delay other financial goals. Read more →


After May 4 Fed interest rate hike, $3.3 billion in extra credit card interest expected

With the likelihood high that the Federal Reserve will raise interest rates by half a point on May 4, people with credit card debt will spend an additional $3.3 billion on interest in 2022, according to WalletHub. “People generally have a negative opinion on Fed rate hikes,” said Delaney Simchuk, analyst. Read more →


Tips for filing your 2021 taxes

In 2021, Congress expanded tax benefits and made other advanced payments in response to the covid-19 pandemic and the resulting financial impact. This may increase the amount of money you’ll receive through your tax refund. You also may be eligible to access other benefits when you file a tax return. Read more →


The best states to retire in 2022

It’s a question that comes up frequently these days. Where’s a cheaper place to live? Using safety, affordability, quality of life, health-related factors, and more than 40 other categories, WalletHub, a personal finance website, compared the 50 states to help retirees find the best way to retire. Read more →


You can order free covid tests from the federal government today, one day early

The website, covidtests.gov, where Americans can order four free covid-19 tests is up and running Tuesday, one day early. To help ensure people have tests on hand if a need arises, the Biden administration is purchasing one billion at-home, rapid covid-19 tests. Read more →


Best wishes on Martin Luther King Jr. Day

Martin Luther King Jr. was such a transformational leader. Over the years, I’ve written more than a dozen articles for Martin Luther King Jr. Day. They included his most famous quotes, how a day to celebrate King was finally approved, and how it’s a day of service, not a day off. Read more →