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Quick Look A benchmark interest rate is an interest rate that determines the amount of other interest rates. Two important benchmarks are the federal funds rate set by the Federal Reserve and the prime rate set by banks. Higher benchmark…
Immigration has long been a controversial subject for Americans, despite the country’s reputation as the world’s melting pot. In times of economic uncertainty, emotions run especially high, and partisans on both sides of the political divide use immigration controversy for their own…
Every developed nation in the world has a central bank, including the Federal Reserve Bank here in the United States. Central banks have one priority: to maintain a balanced financial system by keeping prices stable and employment rates up. When…
The U.S. economy is a cyclical machine that’s known for peaks and valleys, but when the peaks are too high or the valleys too low, economic hardships set in. That’s why we have the Federal Reserve Bank (the Fed). The…
At the start of 2022, President Biden’s signature Build Back Better Act appeared to be dead in the water. Opposition from Senate Republicans meant it could only pass with unanimous support from Democrats. So when Senator Joe Manchin announced he…
Economics is a highly complicated subject that tries to understand how individuals, businesses, and nations interact with each other financially. Governments want to keep their economies strong, and their citizens employed. But without proper management, stock market crashes, bank failures,…
Inflation causes money to lose value over time. Over time, prices for goods and services tend to increase. This has a major impact on the global economy. And because inflation impacts the purchasing power of money, it also impacts borrowers…
Interest rates are shooting skyward in 2022 as the Federal Reserve tries to tame inflation. Naturally, the question on both homeowners’ and homebuyers’ minds is: “Will higher interest rates also cool the white-hot housing market?” The conventional wisdom suggests this…
While inflation wreaks havoc on your grocery bills and bond investments, it’s not all bad news for homeowners. But does the good outweigh the bad for existing property owners? Before you get too nervous or excited about inflation, ensure you…
A 2019 study by Northwestern Mutual revealed some sobering statistics on consumer debt in America. It found that the average American adult has nearly $30,000 in debt, and that figure doesn’t even include mortgage debt. More shockingly, the study found that Americans spend…
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