Author: Money Mechanics

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…

Falling real wages are becoming a quiet warning sign for the U.S. economy. Higher energy costs are squeezing consumers through both inflation and weaker purchasing power. Upcoming payroll and retail sales data may show whether the pressure is starting to spread. U.S. in April reported a figure that received little attention in the initial coverage but could prove important in gauging the resilience of the U.S. economy: average real hourly wages have been falling for 12 months. According to the Bureau of Labor Statistics’ (BLS) real earnings report, adjusted for inflation fell 0.5% for the month and 0.3% over 12…

In this edition of Just Listed–a series from Redfin News that explores homes that are listed by Redfin or Compass agents on Redfin.com–we’re exploring a 3.5-acre estate in Hamilton, Virginia. This $2.5 million estate in a small Virginia town is a hidden countryside retreat with endless opportunities.  Part private residence, part hospitality destination, the 3.5-acre compound backs onto a sprawling 20-acre horse farm and comes with four distinct buildings—each offering its own possibilities. The main residence is a picturesque 3,100-square-foot house. It’s joined by a guest cottage, a barn and tasting space designed for events, and a detached building primed…

(Image credit: Getty Images)The amount insurers pay out on home and car insurance claims has plummeted while the cost of your premiums have soared, according to a recent analysis by the Vanderbilt Policy Accelerator.At a time when insurance companies are warning of the need for further rate hikes amid worsening climate change and the rising cost of home and auto repairs, this study says that they may already be charging most Americans far more than they need to remain solvent.How did the study determine what portion of the premiums Americans pay was excessive? Where is all that extra money going…

(Image credit: Getty Images)Today’s investment environment is driving increased demand for growing income, supported by falling interest rates, persistent inflation and a growing population of retirees.This demand feeds into financial advisers’ allocation priorities — and it’s a major reason Bahl & Gaynor now offers a suite of active ETFs.From a portfolio construction standpoint, active ETFs offer several potential advantages, though these can vary based on market conditions, implementation and individual investor circumstances: 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…

(Image credit: Getty Images)Many Americans say they aren’t feeling optimistic about their financial progress this year. According to a recent report from Omnicalculator, eight in 10 adults say they have at least one financial regret from 2025.Missteps are tied to spending, debt or a lack of long-term planning, with almost three in 10 Americans reporting their biggest mistake was making decisions too quickly.But feeling financially behind can be misleading. In many cases, the issue isn’t a lack of progress — it’s how that progress is being measured. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed…