Author: Money Mechanics

(Investing) – U.S. power consumption is projected to reach record levels in the next two years, according to the Energy Information Administration’s short-term energy outlook released Tuesday. The EIA forecasts power demand will climb to 4,199 billion kilowatt-hours in 2025 and further increase to 4,267 billion kWh in 2026, up from the 2024 record of 4,110 billion kWh. This surge in electricity demand is partly attributed to data centers supporting artificial intelligence and cryptocurrency operations. Additionally, homes and businesses are increasingly shifting from fossil fuels to electricity for heating and transportation needs. For 2025, the EIA projects power sales will reach…

Key Takeaways Younger Americans grew their savings more in the first half of this year than older generations, a Santander Bank survey found. More than half of Gen Z and Millennial respondents said their savings increased during the first half of the year. High-interest CDs are on Gen Z’s radar, with 74% expressing interest while rates are elevated. After years of hand-wringing and criticism about spending on items such as avocado toast and expensive coffee, younger Americans are outpacing older generations in terms of their savings rates. According to a survey conducted by Santander Bank from April to June 2025,…

Key Takeaways Cracker Barrel Old Country Store reported weak sales as the blowback from its unpopular rebranding effort continues.The restaurant chain’s revenue and comparable store sales slumped, and the company cut its full-year outlook.The company’s shares hit their lowest level since early 2009 on Wednesday morning, and have lost half their value since the start of the year. The fallout continues over Cracker Barrel Old Country Store’s (CBRL) ill-fated logo change and restaurant revamp. Shares of the country-themed chain fell as much as 6% in early trading Wednesday, hitting their lowest level since early 2009, after the company posted mixed…

Key Takeaways Elizabeth Holmes notoriously took the “fake it” concept into the world of finance in 2003 when she launched Theranos, Inc., and was ultimately sentenced to more than 11 years in federal prison.Successful financial management can depend on personal skills and knowledge, and not just feeling good about what you’ve convinced yourself you can achieve.It’s okay to start small by creating a solid personal budget and establishing emergency savings rather than spending to play a role. A 2024 report by Empower revealed that one in five Gen Zers and millennials tag the “fake it ‘til you make it” philosophy…

Key Takeaways When an adult child moves in, set boundaries with them. Let them know how long they’re welcome to stay and how they’re expected to contribute to the household.Stay focused on your own retirement needs. Continue to contribute to your company’s 401(k) and your individual retirement account. Make use of catch-up contributions if you are 50 or older.If you’ve helped an adult child financially and are behind your retirement savings, try to delay retirement by continuing to work. Waiting to claim Social Security benefits until age 70 can provide a big financial boost. Adult children are moving back home…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldThe car industry is undergoing its fastest transformation since the invention of the petrol car. Policy has been struggling to keep pace around the world. Now US President Trump is adding a new twist by loosening US fuel economy rules as a way to reduce the upfront cost of new cars, reversing a key policy of Joe Biden.But the global effects of that decision run deeper than they appear. They will be felt far more sharply in Europe than in…

Key Takeaways Kevin Hassett, the front-runner to take over as Fed chair in May, has advocated for sharply lower interest rates but could face pushback putting that agenda into practice.The 12-member Federal Open Market Committee votes on rate cuts and has many members who are skeptical about lowering interest rates too much. Kevin Hassett, the frontrunner to take over the Federal Reserve chair position, would push for lower interest rates—but it’s uncertain whether he would be able to get them.Hassett, currently a top economic advisor to President Donald Trump, is widely expected to be Trump’s nominee to replace current Chair…

The recent rise in silver prices aligns with the base outlook. Supply remains tight, while demand keeps rising, driven mainly by electromobility and renewable energy. Monetary factors add further support, especially with rate cuts underway. Another 25 basis points is likely after today’s . There is also a political angle. Jerome Powell’s term ends in the middle of next year, and his expected successor, Kevin Hassett, chosen by Donald Trump, may push for faster rate cuts in line with the President’s wishes. With this macro backdrop, the demand story for silver still has room to grow.US Dollar Struggles to Mount…

I’ve worked in the inflation field for about a quarter-century (depending on how you want to count it), and I can tell you that if you really want to start a food fight at an investment conference, mention the term ‘hedonic adjustment’ as it relates to the Consumer Price Index. Thanks to substantial counter-programming by people who want you to prefer their narrative on inflation and their inflation index, people who tend to hold to the “the government is making it up” narrative about inflation like to quote hedonic adjustment as one element of proof. The first problem with this…

Key Takeaways The Federal Reserve cut its key interest rate by a quarter-point Wednesday, as widely expected.The Fed’s policy committee was unusually divided, with three members voting against the decision.The slowing job market and stubborn inflation are pulling the Fed in opposite directions. The Federal Reserve lowered borrowing costs Wednesday to boost hiring, but it could be the last rate cut for some time.As widely expected, the Federal Reserve’s starkly divided policy committee cut the central bank’s key interest rate by a quarter-point Wednesday. The cut puts the range at 3.5% to 3.75%, its lowest since November 2022, and prioritizes…