interest rates

Preschool teacher Jaqueline Benitez depends on California's Supplemental Nutrition Assistance Program (SNAP) to help pay for food. If the debt ceiling isn't raised, SNAP and other federal payments would be delayed. (AP Photo/Allison Dinner)

Economy

3 ways to protect your money if the U.S. defaults on its debt

5:04am May 25, 2023

by Arezou Rezvani

From social security payments to interest rates, a lot hinges on a debt-ceiling deal. Personal finance experts say you should prepare for a possible debt default as you would a recession.

A vendor in a market in Nigeria counts local bills. The country is one of dozens whose devalued currency is fueling a debt crisis.

Health & Safety

A dilemma for dozens of countries: Fund your schools and hospitals or pay your debt

8:05pm May 23, 2023

by Nurith Aizenman

There's a looming debt crisis in many lower income countries. Low interest rates a few years back started the cycle. Then came a series of once in a generation shocks. Is there a solution?

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Federal Reserve Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, D.C, on March 22, 2023. The Fed raised interest rates again Wednesday but signalled it may be the last hike for a while.

Economy

The Fed raises interest rates again in what could be its final attack on inflation

5:43pm May 03, 2023

by Scott Horsley

The Federal Reserve raised interest rates by a quarter percentage point Wednesday in an effort to curb persistent inflation. It was the tenth rate hike in 14 months, and possibly the last for a while.

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Shoppers look over mattresses at a store in Miami on March 14, 2023.

Economy

Inflation eased in March but prices are still climbing too fast to get comfortable

11:49am April 12, 2023

by Scott Horsley

Consumer prices in March were up 5% from a year ago. While inflation has eased from a four-decade high last summer, prices are still rising faster than the Federal Reserve would like.

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Savers can often find better rates on accounts from credit unions and online banks than at many major financial institutions. Photo by Frederic J. Brown/AFP via Getty Images.

Economy

Getting a measly interest rate on your savings? Here's how to score a better deal

7:16pm March 04, 2023

by Arezou Rezvani

Many big banks offer shockingly low interest rates on savings accounts. Moving your money to a smaller institution could bring better returns.

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People walk along 5th Avenue in Manhattan, which is one of the nation's premier shopping streets, on Feb. 15, 2023. Consumer spending was unexpectedly strong last month. That's good for the economy – but not so good for inflation prospects.

Economy

Despite high inflation, Americans are spending like crazy – and it's kind of puzzling

5:00am February 25, 2023

by Scott Horsley

Americans began the new year with a spending spree, but businesses are not sure how long it can last. There's a lot riding on the answer, since consumer spending is the backbone of the U.S. economy.

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Federal Reserve Chair Jerome Powell speaks during a news conference after the Fed's meeting on Nov. 2, 2022, in Washington, D.C. The Fed raised interest rates by a quarter percentage point on Wednesday, its smallest increase in 11 months.

Economy

The Fed raises interest rates by only a quarter-point after inflation drops

8:00pm February 01, 2023

by Scott Horsley

The Federal Reserve raised interest rates by a quarter-percentage point as part of its ongoing effort to fight inflation. Price hikes have begun to ease, but the Fed says inflation is not yet tamed.

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Women carry shopping bags as customers visit the American Mall dream mall during Black Friday on Nov. 25, 2022 in East Rutherford, N.J. The U.S. economy ended 2022 on a strong note, but fears of a recession are growing.

Economy

The U.S. economy ended 2022 on a high note. This year is looking different

9:51am January 26, 2023

by Scott Horsley

The U.S. economy grew at an annual rate of 2.9% in the final three months of last year — a surprisingly strong finish. But growth is expected to slow in 2023, and possibly even reverse.

Traders work on the floor of the New York Stock Exchange during the opening bell in New York City on Jan. 18, 2023. Survey after survey shows economists and CEOs expect a recession, but there's no certainty of what an economic contraction would look like – or if the U.S. economy will suffer one at all.

Economy

A recession might be coming. Here's what it could look like

5:01am January 24, 2023

From a mild recession to a so-called hard landing, we sift through the wild array of recession predictions.

This illustration picture shows debit and credit cards arranged on a desk on April 6, 2020 in Arlington, Va. Americans are using their credit cards more to pay for everyday expenses at a time when interest rates are rising.

Economy

Americans are piling up credit card debt — and it could prove very costly

10:31am January 11, 2023

by Scott Horsley

More Americans are leaning on their credit cards to cope with rising prices. And as interest rates continue to climb, that debt is getting more and more expensive.

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