Author: Money Mechanics

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. August 22, 2025 Federal Open Market Committee announces approval of updates to its Statement on Longer-Run Goals and Monetary Policy Strategy For release at 10:00 a.m. EDT The Federal Open Market Committee (FOMC) on Friday announced the unanimous approval of updates to its Statement on Longer-Run Goals and Monetary Policy Strategy, which articulates the Committee’s approach to monetary policy and serves as the foundation for its policy actions. The updated statement, also commonly…

In-brief analysis July 16, 2025 U.S. proved reserves of crude oil and lease condensate totaled 46 billion barrels at year-end 2023, a 4% decline from the previous year’s record, according to our U.S. Crude Oil and Natural Gas Proved Reserves, Year-End 2023 report. U.S. proved reserves of natural gas fell to 604 trillion cubic feet, a 13% decline from their 2022 record. Both declines marked the first annual decrease in U.S. proved reserves for those fuels since 2020. Proved reserves are operator estimates of the volumes of oil and natural gas that geological and engineering…

Dubai pistachio kunafa chocolate bars are displayed in Maple, Ontario, Canada, on May 11, 2025.Nurphoto | Nurphoto | Getty ImagesChocolate lovers face another run of price rises as a lag impact from the cocoa market hits retailers — but better news may be in store by next Easter.Cocoa prices have soared in recent years, hitting record highs amid adverse weather conditions, pest outbreaks and supply tightness in West Africa, which produces around three-quarters of global supply.That trend has combined with broader retail price inflation around the world which is pushing up costs for consumers and denting demand for sweet treats…

Subscriptions for music are convenient, but those monthly costs add up. That’s why we’re excited to help you find the right MP3 player for offline listening, hi-res audio, and total control. MP3 players give you full control over your music library without needing Wi-Fi, mobile data, or a monthly fee. Many modern MP3 players even support high-resolution audio formats like FLAC and include built-in DACs for quality playback. If you’re ready to own your music and ditch the subscriptions, then these expert-tested MP3 players are for you. Also: The best speakers for vinylGet more in-depth ZDNET tech coverage: Add us as a preferred…

When you’re buying a home, one of the biggest financial decisions you’ll make is figuring out how much mortgage you can truly afford.Mortgage affordability is about how much you can borrow and repay without straining your budget, and the 28% rule offers a simple guideline to help ensure your mortgage stays within reach.But given the climbing real estate prices and high interest rates in today’s housing market, is the 28% rule still relevant? Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Save up to 74% Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best…

When Kiplinger Retirement Report editor David Crook used his monthly column to get some things off his chest, he struck a chord with our readers. As one wrote, “I LOVED your ‘rant’… I agree that we are being ‘dummied-down’ and dehumanized by: automated messages, restaurant phone menus, tech instructions that are not understood by people speaking English (my husband is a tech guy and he gets VERY frustrated). Oh, and all these apps for my coffee machine, washer, dryer. AND, don’t get me started about self-checkout lines and I have to bring my own bags.”So we decided to share his…

Key Takeaways Intuit issued current-quarter and full-year projections that missed analysts’ estimates.The tax and accounting software maker saw weakness in its MailChimp marketing platform, and a decline in average revenue from TurboTax use.Intuit’s fourth-quarter profit and revenue exceeded forecasts. Intuit (INTU) shares tumbled 7% in premarket trading Friday, a day after the maker of tax and accounting software gave weaker-than-anticipated guidance on soft demand for its MailChimp marketing platform and TurboTax tax filing program. The firm that also owns QuickBooks and Credit Karma sees fiscal 2026 first-quarter GAAP earnings per share (EPS) of $1.19 to $1.26 and revenue growth of…

The Ombudsman’s Office annual report, which I delivered to the Director, is available today on our webpage.This year, we reflected on our ombudsman standards of practice of independence, impartiality, and confidentiality as we assist consumers, financial entities, consumer or trade groups, and others in informally resolving process issues with the CFPB. Our standards of practice are evergreen; they are ever relevant and foundational to our work, serving as a framework as we advocate for fair process in new ways each year.As in previous reports, the Ombudsman in Practice section describes our inreach (internal engagement), including an updated chart reflecting new,…

(BOE Report) – Two tankers chartered by Chevron carrying Venezuelan crude reached U.S. waters on Thursday, marking the first U.S. imports of the South American country’s oil following a new license granted by Washington, vessel tracking data showed. The U.S. Treasury Department last month issued a restricted license to Chevron allowing the U.S. company to operate in the OPEC country and export its oil after a three-month pause triggered by more strict policies towards sanctioned Venezuela. The vessels MediterraneanVoyager and Canopus Voyager loaded Venezuelan Boscan and Hamaca crudes earlier this month after negotiations with PDVSA, which is Chevron’s partner in several joint…

Stock futures are pointing to a slightly higher open on Friday after several days of losses as investors anxiously await to hear what Federal Reserve Chair Jerome Powell has to say about the outlook for interest rates.  Futures tied to the Dow Jones Industrial Average were up 0.3% recently, while those linked to the S&P 500 and the Nasdaq added 0.2%. The benchmark S&P 500 comes into Friday’s session on a five day losing streak, and each of the major indexes—after hitting a series of record highs—are on track to post weekly losses for the first time in three weeks.…