Author: Money Mechanics

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. May 14, 2026 Stephen I. Miran submits his resignation as a member of the Federal Reserve Board, effective when or shortly before his successor on the Board is sworn in For release at 2:00 p.m. EDT Stephen I. Miran submitted his resignation Thursday as a member of the Federal Reserve Board, effective when or shortly before his successor on the Board is sworn in. He has been a member of the Board since…

Pop star Michael Jackson’s daughter, Paris Jackson, has won a new legal victory against the executors of her father’s estate—after a judge ordered that they return $625,000 in bonus payments made to third-party law firms in 2018.Executors John Branca and John McClain, who manage Jackson’s estimated $5 billion estate, will now have to “return” that sum to the singer’s family. The decision, which was made by a Los Angeles judge in a May 13 motion, was celebrated by Paris, 28, in a statement shared by her attorneys, who hailed the victory as a “massive win” for Jackson’s family.”[Paris] has always…

Cerebras Systems raised $5.5 billion in its IPO on Thursday, pricing shares at $185 Wednesday evening, way higher than its range ($115 to $125, later raised to $150-$160), even as it increased the size of the offering to 30 million shares. It then opened to public trading at $385, more than double (up 108%), as retail investors bid up the price to grab them. The stock cooled only slightly soon after. It is currently trading heavily mid-day at above $330. Even at the IPO price of $185, the company entered its first day of trading at a fully-diluted valuation of…

(World Oil) – Louisiana lawmakers have unanimously endorsed the proposed Argent LNG export facility at Port Fourchon, advancing political support for the 25-MMtpa LNG project as it continues through the federal permitting process. The Louisiana Legislature approved Senate Concurrent Resolution No. 6 with unanimous votes in both chambers, formally expressing support for development, construction and long-term operation of the proposed LNG export terminal. The facility is planned for Port Fourchon, one of the Gulf Coast’s primary offshore energy logistics hubs and a key support base for Gulf of America offshore operations. According to the resolution, the project is expected to represent one of…

Working longer as a retirement strategy takes planning and creativity.getty“Hope is not a strategy.” I’m reminded of this saying when reading the 2026 Retirement Confidence Survey, recently released by the Employee Benefit Research Institute (EBRI). The report shows that many pre-retirees want to work longer as a retirement strategy. For example, nearly three in four workers (74%) indicate a desire to work in their retirement years, and age 65 is the median expected retirement age reported by current workers. There can be many good reasons pre-retirees might want to work longer and even work during their retirement years, starting with…

Senators voted Wednesday to confirm Kevin Warsh as the next chairman of the Federal Reserve. After a 54-45 vote in Washington, DC, Warsh will succeed Jerome Powell, who has led the Fed since 2018. Warsh’s appointment comes after being nominated by President Donald Trump, who has been critical of Powell and his reluctance to lower interest rates.Warsh, in his confirmation hearings in DC earlier this year, said he would protect the independence of the Fed during his tenure. But Democrats have been critical of his closeness to Trump, as well as his expansive financial holdings, which make him the richest…

Ever arrive at a beach town only to realize you forgot your prescription sunglasses or high-SPF sunblock? It can be frustrating and expensive.According to packing data from Radical Storage, the average traveler forgets two essential items per trip, resulting in about $53 in immediate replacement costs.*Some replacements are a total loss, but did you know that you can turn others into a tax advantage? From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues CLICK FOR FREE ISSUE Sign up for Kiplinger’s Free Newsletters…

After months of scrutiny around the Federal Reserve and its leadership, President Donald Trump’s nominee, Kevin Warsh, is set to become the next chair of the Federal Reserve, succeeding Jerome Powell.Notably, the 54-45 U.S. Senate vote margin to confirm him was reportedly the narrowest in modern Fed Chair history.As Warsh moved through key Senate confirmation steps, he signaled support for maintaining the Fed’s “strict independence” in interest rate decisions, as lawmakers from both parties pressed him on how he would navigate inflation, borrowing costs, and financial conditions. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed…

Data show that roughly 70 million workers participate in an employer-sponsored 401(k) plan as a key retirement savings vehicle, and 401(k) matches offered by many employers help boost those savings each year.A Vanguard How America Saves report estimates the average employer match in the United States at about 4.6% of pay, in addition to employees’ own contributions.For someone earning $75,000 a year, that amounts to roughly $3,450 in additional tax-advantaged retirement savings annually. Some workers consider this effectively “free money” on top of their regular pay. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor.…

You can enable subtitles (captions) in the video player Welcome to Suriname. This is South America’s smallest and greenest country. And it hopes to become one of its richest too. Because lying offshore, 150km in that direction, is one of Big Oil’s newest frontiers. As energy markets around the world reel from wars with Russia and Iran, new developments like the one in Suriname have become even more important. The investment was $10.5bn. This is a very unique opportunity for Suriname to change, really change. But we have to be smart. The United States military began major combat operations in…