The Federal Reserve’s rate hike comes as the US economy is increasingly moving at two very different speeds.
- Director, Center for Tax and Budget Policy at the Baker Institute, Rice University
Unless Congress acts, 1 in 5 Americans who receive Social Security could see an across-the-board benefit cut of roughly 22% starting in 2032.
Uncertainty, a stumbling labor market and major structural problems are all weighing down the economy. And Fed rate cuts may not help much.
Much of Trump’s 2017 tax law is set to expire at the end of 2025 – failing to extend it would hurt households and the economy.
Major players in the financial system are pondering the unthinkable as the US inches closer to an unprecedented default.
Price inflation has hit countries differently, but most central banks and governments are concerned about the rising cost of living in 2023.
Social Security is increasing benefits by 8.7%, beginning in January 2023, to offset the surging cost of living in the US.
Biden’s plan would provide up to $10,000 in relief for individuals who earn less than $125,000 a year, and $20,000 for Pell Grant recipients.
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