The IRS is increasing the standard deductions for 2023 as inflation intensifies
The IRS is increasing energy-related tax breaks, as well as standard deductions for single and married people and heads of households.
inflation
High inflation leads to the biggest raise in Social Security in more than 40 years
Retirees and others who rely on Social Security will see a large boost in benefits next year, with the average benefit rising by $141 per month, as inflation stays above 8%.
When your seatmate on the plane talks about the Fed, you know things aren't right
The woman next to me, who described herself as knowing "zero" about the economy, asked whether I thought the Federal Reserve would continue raising interest rates. I felt an acute sense of dread.
Stocks sink despite Friday's report that hiring cooled in September
A new jobs report showed a modest slowdown in hiring last month that was not enough to soothe Wall Street's worries about inflation and the Fed. The unemployment rate edged down to 3.5%
A bad year for Wall Street gets even worse, as stock markets finish September down
Amid heightened uncertainty about the global economy, all three U.S. indexes are in a bear market as the third quarter comes to a close.
Memories of the 1970s haunt the Fed, pushing its aggressive rate moves
The Federal Reserve is cracking down hard on inflation, in hopes of avoiding a repeat of the 1970s, when price hikes were so sustained, they got baked in to people's thinking.
The British pound hit a record low over fears about income tax cuts and debt
The British pound sank to $1.03, before stabilizing slightly, as traders and investors react negatively to new government plans to cut taxes for highest earners and businesses and boosting borrowing.
Fed orders another super-sized interest rate hike as it battles stubborn inflation
The Federal Reserve raised interest rates by another 0.75 percentage points today, as it tries to control runaway prices. The central bank also signaled that additional rate hikes are likely.
Americans are paying more and getting less as inflation hits home
Rising inflation has meant fewer restaurant meals, getaways and even doctor visits for many Americans, as nearly 4 in 10 say their family finances have gotten worse in the last year.
Soaring electricity bills are the latest inflation flashpoint
Inflation eased slightly in August thanks to falling gasoline prices, but the cost of many essentials continues to climb, including soaring power bills that are straining family budgets.