What the federal funds rate means to you The federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. Although that’s not the rate consumers pay, the Fed’s moves still affect the borrowing and saving rates consumers see every day. “We’re certainly going to see the …
People wear face masks outside a supermarket on the Upper West Side in New York City. Noam Galai | Getty Images Government data shows that inflation has broken another 40-year plus record. And even Treasury Secretary Janet Yellen predicted higher prices could be with us for the rest of this year. “We’re likely to see another year in which 12-month …
The Covid-19 pandemic has prompted millions of Americans to put plans, including weddings, on hold. As 2022 unfolds and, we hope, the worst of the pandemic is behind us, nuptials are expected to take place in record numbers. The Wedding Report, a wedding market research firm, projects there will be 2.5 million weddings this year, the highest number since 1984. …
Shoppers fill a Target Store on a Black Friday in Chicago. John Gress | Corbis Historical | Getty Images “Buy now, pay later” has become a popular payment tool among young consumers, replacing standard bank credit cards. And this year, the largest retailers are adapting to the trendy payment option for the holiday shopping season. But it comes with a warning: defaults on “BNPL” payments have been rising …
Airlines have been degrading the value of points for years There have already been some post-pandemic shakeups to rewards point systems. Southwest, for example, changed the number of points it takes to earn a free ticket in April. And as more and more people take to the friendly skies, analysts like Rossman say additional changes are on the way. For …
