Author: Money Mechanics

U.S. ENERGY INFORMATION ADMINISTRATION WASHINGTON DC 20585 FOR IMMEDIATE RELEASE December 9, 2025 Alongside publication of this month’s Short-Term Energy Outlook (STEO), the Energy Information Administration (EIA) announced plans to modernize its core short-term forecasting system. “EIA is decisively accelerating toward a more integrated and timely forecasting system that better reflects the evolving role of the United States in global energy markets,” said EIA Administrator Tristan Abbey. The current model underpinning STEO was built a quarter-century ago. EIA expects to begin the modernization in stages, starting with a new upstream model this spring and full completion in 2027. The new…

Key Takeaways The average white household added $85,000 in wealth this year, versus just over $25,000 for Black and Hispanic families.The unemployment rate for white workers has held steady in recent months while it’s surged for Black and Hispanic workers.The new analysis underscored the inequality of the “K-shaped” economy, where better-off households gain most of the benefits while people with lower incomes struggle. The average white American household added roughly $85,000 in wealth this year, compared to an increase of about $25,000 for average Black and Hispanic households, thanks primarily to surging stock values.That’s according to an analysis out this…

(BOE Report) – Canadian banker-turned-oil-tycoon Adam Waterous, an industry outsider who lives in a Rocky Mountain tourist town, not energy hub Calgary, has a plan to cement his company’s status as one of North America’s fastest-growing oil companies. Waterous intends to more than double crude production by Strathcona Resources and expand more aggressively than any of its rivals after the company’s hostile bid for MEG Energy failed. He also wants Canada, the fourth-biggest oil producer, to double oil and gas output to unlock economic growth during a time of trade tensions with the U.S. ‘DO MY SHARE’ “If I’m saying a whole country should…

Key Takeaways Federal Reserve officials remain divided, but many central bank watchers expect a rate cut at the meeting that started Tuesday.The dot plot and policy statement released Wednesday may reveal slower, more uncertain rate cuts ahead. The Federal Reserve seems likely to cut interest rates again this week, but it probably won’t do so as a united front. Fed officials are split on whether the economy needs lower interest rates, a debate that starts Tuesday and will also be on display when the Federal Open Market Committee’s decision comes out at 2 p.m. ET Wednesday.  The more dovish FOMC…

KEY TAKEAWAYS The Department of Education announced an agreement with the states suing for the elimination of the Saving for a Valuable Education repayment plan.More than 7.7 million borrowers still in forbearance under the SAVE plan will soon need to transition to another repayment plan, and the Income-Based Repayment plan may be the most certain option for them. The Department of Education announced early Tuesday that it has moved one step closer to shutting down the Saving for a Valuable Education repayment plan. On Tuesday morning, the Department of Education announced a joint agreement with the State of Missouri and…

Do you have or are you thinking about opening a Flexible Spending Account (FSA)? Here’s a potentially good reason to consider it. The IRS recently raised the limits on tax-advantaged healthcare and dependent care contributions.With an FSA, employees can make payroll deposits into their accounts to build a cushion to pay insurance deductibles or pay for qualifying medical expenses, or other items not covered by insurance.Deposits are made with pre-tax dollars, before any federal or state income taxes, Social Security taxes, or Medicare taxes are withheld from your paycheck. That means your FSA deposits are not included in your taxable…

Explore these practices that can help with health and longevity in retirement.gettyIf you’re in your 60s or beyond, hopefully you’re focusing on improving the foundations of your health and longevity, including your exercise, nutrition, sleep habits, stress reduction, and mitigation of unhealthy habits. ForbesFoundations Of Health And Longevity In RetirementBy Steve VernonHowever, there’s more you can do to improve your overall health and longevity. In order for all of your body’s systems to operate effectively and efficiently, you’ll want to make sure you’re addressing the aspects of health and longevity that people often overlook or defer.Consciously Build Your Social Portfolio…

(Image credit: Getty Images)Question: I’ve got $10,000 from my year-end bonus, and I want to keep it safe but still earn something. Is a CD or a money market account the smarter move?Answer: It’s a natural question to ask right now. With your bonus in hand and interest rates slipping after the Fed’s rate cuts this year, deciding where to put that $10,000 can feel surprisingly tricky.Certificates of deposit (CDs) and money market accounts (MMAs) remain two of the safest, most popular options. Both offer FDIC/NCUA insurance, both earn interest and both protect principal. But the best choice for your…

Airport lounges can offer a quiet break from the crowded terminal, giving you space to relax, enjoy a meal or squeeze in some work before your flight. They’re designed to be calmer and more comfortable than the gate area, which makes them especially appealing during busy travel seasons.Lounge access has also become more common. Many of the top travel credit cards include it as a perk, and certain tickets or elite statuses also offer entry. If you’re flying this holiday season, you might find yourself using a lounge for the first time.Before you step inside, it helps to know what…

Many Americans might have more than one reason to celebrate the New Year. Tax refunds in 2026 are projected to be the “largest ever,” according to an analysis cited by the Republican-led Ways and Means Committee in the U.S. House of Representatives.The projected increase is expected to boost the average federal tax refund amount by around $1,000 for taxpayers.However, that benefit is not universal: The size of your tax refund, if any, will ultimately depend on tax break eligibility requirements and other factors (like your filing status, taxable income, etc.). From just $107.88 $24.99 for Kiplinger Personal Finance Become a…