Author: Money Mechanics

Former Federal Reserve Governor Adriana Kugler’s abrupt resignation from the board on Aug. 1 – and her unexplained absence at a key meeting two days earlier – left the financial community shocked and confused.Nominated by Democratic former President Joe Biden to fill a surprise vacancy on the Fed board and confirmed in 2023, Kugler’s term was not set to expire until January of 2026.In her Aug. 1 resignation letter, addressed to Trump, Kugler offered no explanation for why she was leaving her job just months before her term ended. “I am writing to notify you that I am resigning from my…

Twenty-four/seven trading markets enable investors to buy and sell assets at any time of day or night, providing access to global opportunities and advantageous price swings that are often unavailable during traditional market hours.  However, greater access to opportunities doesn’t always mean greater gains. Successfully navigating 24/7 markets requires as much strategy for risk management as it does for picking winners.  Key Takeaways 24/7 markets offer continuous trading opportunities but require constant monitoring and risk management. Technical and fundamental analyses are crucial for making informed trading decisions. Automated trading and bots can help execute trades without emotional bias. Diversification is…

With markets becoming increasingly global and technological advancements continuing to accelerate, 24-hour trading is rapidly becoming mainstream. Once limited to relatively niche markets, even major exchanges are making the switch: The Nasdaq plans to expand its trading sessions to 24 hours per day, five days per week, by 2026. This shift brings new opportunities for traders, but it also introduces risks, including complications that make it challenging for regulators to enforce investor protections. Let’s explore what you should know about the regulatory landscape of 24-hour trading, including how it works today and how it may change in the future. Key…

(BOE Report)– The discount on Western Canada Select to North American benchmark West Texas Intermediate futures widened on Thursday. WCS for October delivery in Hardisty, Alberta, settled at $11.55 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $11.45 a barrel discount on Wednesday. * WCS discounts had already widened in August, in part due to BP’s 440,000-barrel-per-day refinery in Whiting, Indiana, being affected by flooding after a severe thunderstorm. The refinery is often the single largest purchaser of Canadian crude. * Another factor behind the summer’s widening trend is the threat of competition from Venezuelan…

Key Takeaways Warren Buffett believes that fair taxation from large corporations and wealthy individuals would reduce the tax burden faced by ordinary Americans.He argues balancing the tax system would allow the U.S. to manage the increasing fiscal deficit and provide enough funding for public services and infrastructure. Warren Buffett, the renowned billionaire investor and CEO of Berkshire Hathaway Inc. (BRK.A), has long been a vocal advocate for tax equity, emphasizing that the wealthy and large corporations should pay their fair share. In recent statements, Buffett has made clear that his company’s outsized tax payments—at $26.8 billion in 2024, it was…

Key Takeaways A new report out of the Center for Retirement Research at Boston College suggests that taxing employer-sponsored health benefits could provide a boost to the Social Security program.Most of the program’s revenue currently comes from the payroll tax, which is levied on income up to $176,100. Benefits aren’t included in this tax base.The report suggests that adding employer-sponsored health insurance to the program’s base could boost revenue for the program by $70 billion. The Social Security program is projected to run out of funding by 2034, and there’s a lot of debate as to what to do about…

Key Takeaways President Donald Trump has pressured the Federal Reserve to lower its benchmark interest rate, saying doing so would help push down mortgage rates and interest the U.S. pays on its national debt.Mortgage rates are tied to inflation expectations, which could actually rise if investors believe the Fed is lowering its rate for political reasons.The government’s long-term borrowing costs have only increased since the last time the Fed cut interest rates, casting doubt on the idea that cutting the fed funds rate would help the federal budget. President Donald Trump’s efforts to pressure the Federal Reserve into lowering its…

I do not do my own taxes.That will shock a lot of my readers and clients who know that I own a business that offers tax planning and tax preparation.Also, I am an IRS enrolled agent, licensed to prepare taxes and represent taxpayers in front of the IRS. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed investor. CLICK FOR FREE ISSUE Sign up for Kiplinger’s Free Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail. Profit and prosper with the best…

Three of the biggest risks you face in retirement are 1) a market crash, 2) inflation and 3) higher future taxes.It is difficult to address one risk without leaving yourself vulnerable to another. If you take too much money out of stocks to avoid a market crash, you run the risk of losing your purchasing power to inflation.Conversely, if you leave all your money in stocks to keep up with inflation, you run the risk of a market crash, especially at the front end of retirement. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed investor.…

Welcome to Kiplinger’s My First $1 Million series, in which we hear from people who have made $1 million. They’re sharing how they did it and what they’re doing with it. This time, we hear from a 55-year-old married federal civil servant and analyst who lives in Hawaii. See our earlier profiles, including a writer in New England, a literacy interventionist in Colorado, a semiretired entrepreneur in Nashville and an events industry CEO in Northern New Jersey. (See all of the profiles here.)Each profile features one person or couple, who will always be completely anonymous to readers, answering questions to…