ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money. |
Theresa Edwards thought these would be her golden years. Instead, she gets up at dawn to crisscross Los Angeles by bus to work as a caregiver. Waiting at home at the end of a long day is her last patient: Edwards' husband of 55 years, who is recovering from a serious car accident. |
Retirement is increasingly becoming a luxury many American workers cannot afford, Jessica Guynn reports. With rising housing costs and medical expenses, and without the pensions that buoyed previous generations, millions of older Americans can't stop working. |
Are interest rate cuts coming? |
Federal Reserve Chair Jerome Powell told Congress Tuesday the labor market "has cooled really significantly across so many measures," a development economists say could make the central bank more likely to lower interest rates soon, Paul Davidson reports. |
Yet, Powell added that he was "not going to be sending any signal about the timing of future action." |
Powell, speaking before the Senate banking committee, noted several times that the central bank faces more balanced risks between slicing rates too soon and reigniting inflation, and waiting too long and weakening the economy and job market. The Fed's mandates are to achieve stable prices and maximum employment. |
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Finally, here's a popular story from earlier this year that you may have missed. Read it! Share it! |
The U.S. government's national debt recently topped $34 trillion, a new record, Bailey Schulz reports. But how worried should you be about the country's borrowing? |
The debt has been a source of tension among politicians, with lawmakers narrowly avoiding a default last year through a debt ceiling deal. Neither side of the aisle was completely happy with the agreement; conservative members had been advocating for deeper cuts, while liberals objected to components like expanded work requirements for food stamps and future spending caps. |
Economists don't agree on how worrisome the debt levels are today, but studies show an increasing number of Americans believe it needs to be addressed as federal spending consistently outpaces revenue. |
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | Is retirement now a luxury? With rising costs and without pensions, millions of seniors can't afford to stop working into their 70s, even 80s. | | | |  | Economists say the remarks could be a sign Fed will cut rates soon. | | | | The U.S. government's gross national debt has surpassed $34 trillion, a new record. But how worried should you be about the country's borrowing? | | | | Couches get more household abuse than any other piece of furniture. Kids, dogs and cats are often responsible. But mostly people blame their spouse. | | | | About half of retail executives said they increased the minimum fee for free shipping within the last 12 months, according to recent survey. | | | | Albertson's and Kroger released the list of stores it will sell to C&S Wholesale in the proposed merger of the two grocery giants. See the full list. | | | | The National Highway and Traffic Administration has opened an investigation into 94,275 Jeep Wrangler vehicles. | | | | Homes are selling below list price at the peak of the housing season, a sign that the market is getting better for buyers and worse for sellers. | | | | Americans increasingly use financial apps to manage their money, but they need to take steps to keep their data away from cybercriminals. Here's how. | | | | A July 3 court ruling found retail giant Walmart must face a class-action lawsuit alleging that the company engaged in unfair pricing. | | | | |  | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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