Author: Money Mechanics

Key Takeaways Several members of the Federal Reserve’s policy committee have spoken out against the White House’s campaign to pressure the Fed to cut interest rates.Fed officials broke their customary taboo against commenting on political controversies after the Justice Department subpoenaed the Fed in an investigation of Chair Jerome Powell.The Trump Administration’s hardball tactics could backfire, leading Fed officials to keep interest rates higher for longer to demonstrate the Fed’s independence from White House control. If the Trump Administration’s investigation into Federal Reserve Chair Jerome Powell was intended to intimidate the central bank into sharply cutting interest rates, it’s not…

Key Takeaways A reintroduced House bill would let employees age 50 and older roll over some or all of their 401(k) savings into an annuity.Financial advisors warn that annuities can be complex, costly, and illiquid.The legislation also aims to make 401(k) rollover information easier for workers leaving a job to understand. Many workers don’t fully grasp their distribution options. Older workers who have 401(k)s may soon have a new investment option thanks to a proposed bill. The legislation, known as the Retirement Simplification and Clarity Act, aims to allow workers age 50 or older to invest some of their 401(k)…

Oakmark Funds, advised by Harris Associates, released its “Oakmark Select Fund” fourth-quarter 2025 investor letter. Oakmark Select Fund is a non-diversified fund that aims to deliver capital appreciation by investing in mid and large-cap US companies. A copy of the letter can be downloaded here. In the quarter, the fund (investor class) outperformed the S&P 500 Index, returning 8.42% vs. 2.66% for the index. Communication services and financials were the top contributors at the sector level, while industrials detracted from the performance. In addition, you can check the Fund’s top five holdings to determine its best picks for 2025. In its fourth-quarter…

Gold hit a new record high of $4,650 per ounce on Wednesday, just two weeks after its previous peak. Prices are up about 6% so far this year. The yellow metal has now eased slightly today as some investors booked profits, but the overall direction remains upward. The latest rise came as demand for safe assets increased amid recent political and geopolitical tensions. One factor weighing on markets has been scrutiny around the US Federal Reserve, including an investigation linked to its leadership. Federal prosecutors are reviewing a $2.5 billion renovation of the Federal Reserve’s headquarters in Washington, along with…

Restaurants and pubs on James Street in London, UK, on Friday, Dec. 13, 2024. Bloomberg | Bloomberg | Getty ImagesThe U.K. economy grew by a more-than-expected 0.3% in November, data from the Office for National Statistics (ONS) showed Thursday. Economists polled by Reuters had expected a very modest growth figure of 0.1%. The ONS said services and production both grew in November, by 0.3% and 1.1%, respectively. Meanwhile, construction fell by 1.3% in the same month. Pound sterling was largely flat against the dollar following the data, last trading at $1.3433.The latest data comes after the economy contracted unexpectedly by 0.1%…

The Trump administration signed a notable multibillion-dollar trade deal with Taiwan that’s designed to help the United States boost domestic semiconductor manufacturing. Under the deal announced by the U.S. Department of Commerce on Thursday, Taiwanese semiconductor and tech companies have agreed to make direct investments of $250 billion into the U.S. semiconductor industry. These investments will span across semiconductors, energy, and AI “production and innovation,” according to a press release. Taiwan currently produces more than half of the world’s semiconductors. Taiwan will also supply an additional $250 billion in credit guarantees for additional investments from these semiconductors and tech enterprises,…

Key Takeaways Americans in their 40s and 50s are in peak earning years, making this a pivotal time to build—or shore up—retirement savings.Competing priorities, from education costs to caregiving, often collide with long-term retirement saving goals during this stage of life.Even with less time left to save, strategic moves in your 40s and early 50s can still meaningfully strengthen your retirement outlook. How Many Americans Ages 45–54 Have Any Retirement Savings at All Households led by people ages 45–54 are often in their highest-earning years, with income and net worth continuing to rise as careers advance and assets accumulate, according…

Key Takeaways More than one in five car loans now run seven years or longer.Longer loan terms may reduce monthly payments, but they also increase the total cost and the risk.If you can’t pay off your car loan within five years, you may want to consider a cheaper model, a used car, or a larger down payment. More Car Buyers Are Choosing Longer Auto Loans Rising car prices, interest rates, and affordability pressures are pushing more buyers toward longer auto loans. Experts often recommend not stretching payments beyond five years, yet nowadays it’s more common for people to still be…

Key Takeaways Some of the fastest-growing, highest-paying jobs in the U.S. don’t require a four-year degree.Google Career Certificates in data analytics, project management and cybersecurity run about $49 a month on CourseraIndustry credentials such as AWS Cloud Practitioner, CompTIA Security+ and PMP can open doors to more advanced (and higher-paying) roles. You don’t need to take out a mass of student loans for a four-year degree to land some of America’s fastest-growing jobs. Cloud engineer, project manager, business analyst and cybersecurity analyst jobs all rank high on Indeed’s 2026 Best Jobs list. Data scientist and information security analyst roles are…

Key Takeaways Some experts have cast doubt on the expectation that the Federal Reserve will cut its key interest rate in 2026.December’s lower unemployment rate and persistent high inflation have taken the pressure off the Fed to cut rates.The Trump administration’s demand for lower rates and its use of hardball legal tactics against Fed leaders could spark a backlash among members of the Fed’s policy committee. Interest rate cuts by the Federal Reserve in 2026 seemed like a foregone conclusion not long ago, but several experts are casting doubt on that assumption. J.P. Morgan Chief Economist Michael Feroli is among…