Author: Money Mechanics

Thank you for the opportunity to speak to you today.1 There has been a lot of discussion of late about reducing the size of the balance sheet of the Federal Reserve to reduce our “footprint” in the financial system. I think it is important to frame the discussion, first by being clear about the nature of the problem to be solved and then weighing the tradeoffs of any remedies. I think shrinking the balance sheet is the wrong objective, and many of the proposals to meet this objective would undermine bank resilience, impede money market functioning, and, ultimately, threaten financial…

The crude complex is taking a genuinely meaningful step lower on Thursday, and the size of the move deserves close attention rather than a passing glance. Brent () has been quoted across a notably wide band through the session — one feed marked it at $107.82 a barrel as of 8:30 a.m. Eastern, down a sharp $3.05 from the prior morning, while another had it changing hands closer to $105.20, off roughly 0.38% on the day. WTI () is holding marginally firmer in relative terms, trading near $101.10 and up a token $0.04 on one read, though other feeds put…

A trader works, as a screen broadcasts a news conference by U.S. Federal Reserve Chair Jerome Powell following the Fed rate announcement, on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 29, 2026. Brendan McDermid | ReutersBond market investors believe the Federal Reserve needs to play catch up on inflation as its new leader takes over, according to Ed Yardeni, president of Yardeni Research.Wall Street expects the central bank’s Federal Open Market Committee to relinquish its bias toward easing rates at the policy meeting next month, Yardeni said. Bond traders are hoping that…

Memorial Day is just around the corner, which means it’s the perfect time to find discounts and deals on power tools from brands like DeWalt, Milwaukee, and more. Retailers like Lowe’s and Home Depot are already rolling out sales ahead of the holiday, letting you take advantage of lower prices if you need an early Father’s Day or summer birthday gift. Whether you’re buying your first power tool set or just looking to add on to what you already own, chances are you’ll find the tools you need from the brands you love at a price that won’t break the bank.Also:…

Downtown picture of Buenos Aires, the “Paris of South America.” Could Argentina become a new Plan B for Americans seeking a second backup home?gettyFor decades, Americans looking for a second home—or a second passport—often focused on Europe. Portugal, Spain, Italy, and Malta attracted retirees, digital nomads, entrepreneurs, and families seeking a better quality of life and an insurance policy against political or economic uncertainty at home.The Landscape Is Changing.Portugal recently doubled its naturalization timeline for many non-European applicants from five years to ten. Spain has suspended its golden visa program. Italy has tightened citizenship-by-descent rules. Malta’s citizenship-by-investment program has effectively…

Former New York Yankees star Carl Pavano has become embroiled in a very ugly divorce battle with his ex-spouse, Alissa Pavano, that has seen a series of shocking allegations raised about what went on behind closed doors inside their shared Connecticut home. The bitter legal spat began in 2024, when Alissa first filed for divorce after 14 years of marriage, but has dragged on for two years—continuing even after their split was legally finalized in 2025. Now, new details about the breakdown of their relationship have been aired after Alissa asked a Connecticut court to void a prenuptial agreement that…

(Image credit: Ben Jared / Contributor)The PGA Championship returns May 14 through May 17 at Aronimink Golf Club in Newtown Square, highlighting a busy stretch of the PGA Tour schedule.Scottie Scheffler enters the tournament after winning the 2025 PGA Championship and remains one of the sport’s dominant players. He narrowly missed adding another major earlier this season, finishing one stroke behind Rory McIlroy at the Masters.McIlroy heads into the PGA Championship with momentum following his Masters victory, while many of golf’s top-ranked players are expected to compete in the season’s second major. From just $107.88 $24.99 for Kiplinger Personal Finance…

(Image credit: Joan Cros/NurPhoto via Getty Images)Stocks jumped out of the gate Thursday, boosted by another big day of gains for mega-cap tech stocks and a red-hot initial public offering (IPO). Market participants also cheered encouraging headlines from China, where President Donald Trump and his entourage of CEOs traveled for a two-day summit with President Xi Jinping to discuss trade, tariffs and the war in Iran.At the close, the blue-chip Dow Jones Industrial Average was up 0.8% at 50,063. The broader S&P 500 added 0.8% to 7,501 and the tech-heavy Nasdaq Composite gained 0.9% to 26,635 — new all-time highs.A…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. May 14, 2026 Federal Reserve Board releases results from two surveys of senior financial officers at banks about their views on discount window operating days and their strategies and practices for managing reserve balances For release at 10:00 a.m. EDT The Federal Reserve Board on Thursday released results from two surveys of senior financial officers at banks about their views on discount window operating days and their strategies and practices for managing reserve…

Lost luggage, canceled flights, or a medical emergency can turn your dream trip into an expensive nightmare. The right travel insurance policy is designed to protect you from scenarios like these. But with so many providers to choose from, finding the best one isn’t straightforward. That’s why we evaluated the leading travel insurance companies across coverage limits, plan flexibility, financial strength, and more to bring you a list of the seven best travel insurance providers of 2026 — plus, some honorable mentions. Read more: Travel insurance: What it covers, costs, and how to choose the right policy 7 best travel…