Category: Uncategorized

For the first time in more than three years, the Federal Reserve raised interest rates by a quarter of a percentage point.  This comes as policymakers try to control inflation, but it could mean higher borrowing costs. Whether you’re carrying a balance on a credit card, thinking about buying a car or home, or trying…

TLDR The Fed raised interest rates by 0.25% to a target range of 3.75%-4%, its first hike in three years Fed Chair Kevin Warsh warned inflation is still “too high” and conditions are not restrictive enough The Dow fell 631 points, while the S&P 500 dropped 0.45% and the Nasdaq was nearly flat Bank of…

As Maine industries face an uncertain future amid the Trump administration’s trade war with Canada, state officials aim to coordinate with their Canadian counterparts to de-escalate the situation.  Members of the Maine-Canadian Legislative Advisory Commission met Wednesday to discuss the latest developments in the trade war, and what they can do to support Maine businesses. …

Across the U.S., certain Social Security beneficiaries are due to receive their latest monthly money next week, as the Social Security Administration (SSA) concludes its three-Wednesdays payment cycle for September 2026. Who receives Social Security on Wednesday, September 23? Of the 71.3 million beneficiaries of the Social Security program, many are paid on the second,…

President Donald Trump has called for Federal Reserve policymakers to slash interest rates, once again arguing that elevated borrowing costs are holding his economy back from a boom. On Wednesday, the 12-member Federal Open Market Committee (FOMC) unanimously voted to raise interest rates amid “elevated” inflation and uncertainty, with the central bank’s new Chair Kevin…

It’s been a tumultuous couple of weeks for the stock market. AI doomsday fears sent tech stocks tumbling amid renewed concerns around a bubble. Oil prices continue to drive up inflation. And, most recently, the 10-Year Treasury yield reached its highest level since 2007, triggering new recession worries. The S&P 500 (^GSPC -0.45%), Dow Jones…

By PAUL WISEMAN, AP Economics Writer WASHINGTON (AP) — The Federal Reserve has raised the cost of money — bad news for borrowers, good news for savers. The Fed increased its benchmark interest rate Wednesday by a quarter-point, the first rate hike since the summer of 2023. The hike will likely make it even costlier…

The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 to quell stubbornly high inflation, a move that could prompt a sharp response from the White House. The quarter-point increase lifts the Fed’s key rate to about 3.9% and, over time, could raise borrowing costs for mortgages, auto loans, and…

Navigating the application process for Social Security Disability Insurance (SSDI) can be difficult. People wait around six months on average just to get a first decision, according to the latest available government data. Even then, that initial decision is more often than not a ‘no.’ Among claims filed from 2014 through 2023, 68% were denied,…

President Trump addresses Federal Reserve rate hike amid inflation concerns President Donald Trump criticized the Federal Reserve’s first interest rate hike in three years, saying rates are already too high. Trump also revealed he spoke with Fed Chair Kevin Warsh before the vote, while Warsh said persistent inflation and higher energy prices remain concerns. Senior…