Author: Money Mechanics

Starting March 30, 2025, payday and installment lenders must begin complying with important new requirements when they try to collect money from borrowers’ accounts.The CFPB issued a regulation in 2017 adopting a two-strikes-and-you’re-out rule for covered lenders. Under that rule, after two tries to withdraw money from a borrower’s account have failed, covered lenders can’t try again unless the borrower specifically authorizes another attempt. The rule addresses lenders’ unfair and abusive practice of repeatedly trying to withdraw money from an account to pay off the loan, even after the account had been shown to be empty. That practice can trigger…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. August 20, 2025 Minutes of the Federal Open Market Committee, July 29–30, 2025 For release at 2:00 p.m. EDT The Federal Reserve on Wednesday released the minutes of the Federal Open Market Committee meeting that was held on July 29–30, 2025. The minutes for each regularly scheduled meeting of the Committee are generally published three weeks after the day of the policy decision. The descriptions of economic and financial conditions contained in these…

(World Oil)– Global oil markets are on track for a record surplus next year as demand growth slows and supplies swell, the International Energy Agency said. Oil inventories will accumulate at a rate of 2.96 million bpd, surpassing even the average buildup during the pandemic year of 2020, data from the IEA’s monthly report showed. World oil demand this year and next is growing at less than half the pace seen in 2023. At the same time, supplies are booming. The OPEC+ coalition, led by Saudi Arabia, has fast-tracked the restart of halted production, and the IEA has slightly bolstered forecasts…

Key Takeaways Michael Fiddelke is slated to become Target’s CEO in February, disappointing investors who were looking for an external candidate to refresh the retailer’s approach.Fiddelke described his 20 years of experience at the company as a benefit.Investors will look to him to catch up to competitors in the e-commerce space, address tariffs, and stock merchandise that appeals to more of its core customers. Target veteran Michael Fiddelke won’t become CEO for months, but the stock market is already disappointed with his appointment. Investors hoped Target (TGT) would replace CEO Brian Cornell with an external hire, with most of 50…

Key Takeaways The Federal Reserve is likely to lower interest rates in mid-September, which would be its first cut of the year. When the Fed rate changes, bank yields on savings, money markets, and CDs move as well—sometimes even before the central bank’s official announcement. That’s why today’s best CDs are worth grabbing, guaranteeing mid-4% returns for months or even years—no matter what cuts the Fed makes. For cash you need to keep accessible, you can still earn up to 5% with the best high-yield savings accounts, money markets, and checking accounts. But that rate probably won’t last much longer. The…

Of the main U.S. equity indexes, only the Dow Jones Industrial Average managed to post green numbers Wednesday, and that was briefly at the open, for a while around midday, then shortly before the close.Investors, traders and speculators continue to discount important earnings reports, but they’re also watching the White House, the Federal Reserve, and what’s happening with interest rates – now and for the long term.President Donald Trump’s effort to reshape the most important central bank in the world to his liking expanded today when he called on Federal Reserve Governor Lisa Cook to resign. Subscribe to Kiplinger’s Personal…

A growing number of companies are going public and delivering strong performances, creating attractive opportunities for growth-focused investors. Recently, new listings in the United States have rebounded sharply, signaling market recovery, according to Reuters.Additionally, from a regulatory standpoint, the Trump administration is viewed more favorably by the market, signaling renewed strength. Behind the Market MomentumAccording to IPOX vice president, Kat Liu, as quoted on Reuters, a successful slate of June IPOs and a robust pipeline of well-capitalized, late-stage firms poised to go public, could set the stage for a more active Q4. Strong listings could boost investor confidence and encourage…

Real gross domestic product decreased in 39 states in the first quarter of 2025, with the percent change ranging from 1.7 percent at an annual rate in South Carolina to –6.1 percent in Iowa and Nebraska, according to statistics released today by the U.S. Bureau of Economic Analysis (table 1). Current-dollar gross domestic product (GDP) increased in 47 states and the District of Columbia, with the percent change ranging from 8.7 percent at an annual rate in North Dakota to –2.7 percent in Iowa. Personal income, in current dollars, increased in all 50 states and the District of Columbia in…

Key Takeaways Federal Housing Finance Agency Director Bill Pulte requested that the Department of Justice investigate mortgage applications filed in 2021 by Federal Reserve Governor Lisa Cook, alleging she violated mortgage law.President Trump said Cook should resign immediately, which would allow him to appoint a replacement to the Fed policy committee that sets interest rate policy.Trump in recent months has berated Fed Chair Jerome Powell for not cutting interest rates, and has also accused the central bank head of mismanaging a large renovation at Fed headquarters. President Donald Trump is expanding his attacks on the Federal Reserve, this time targeting…

As we look forward to the CPI report next week, the monthly-repeating theme is ‘when will the tariff effect show up?’ The answer, so far, is ‘not yet,’ but economists who had forecasted the end of life as we know it when the Trump tariffs went into effect have been befuddled. I’ve already admitted in this column that I was educated in the tradition of ‘tariffs bad,’ but that over the years Trump’s insistence otherwise has made me carefully re-think of which ways tariffs are truly bad, and which ways they’re not so bad. Naturally, if tariffs were uniformly bad…