Author: Money Mechanics

A Social Security Administration (SSA) office in Washington, DC, March 26, 2025. The Department of Government Efficiency (DOGE) is reportedly aiming to reform and downsize the SSA with office closures, cutbacks on phone services and new rules requiring in-person visits for some prospective beneficiaries to register. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images)AFP via Getty ImagesAccording to the Social Security Administration, about 75 million Americans are receiving a Social Security benefit. That’s more than 20% of the population or nearly nine out of ten people age 65 and older. This makes Social Security one…

(Image credit: Getty Images)All three main equity indexes opened lower after the hottest consumer inflation report since May 2023 seemed to burn all hope for lower interest rates anytime soon. But blue chip stocks lifted the oldest of the benchmarks into the green late in a generally “risk-off” trading session.The April CPI report showed the Consumer Price Index rose 0.6% month over month and 3.8% year over year. Core CPI, which excludes energy and food prices, was up 0.4% on a monthly basis and 2.8% annually. The energy index was up 3.8% in April, accounting for more than 40% of…

In many cases, homeowners insurance will cover roof leaks if they result from a covered peril on your policy, such as a leak in your roof that was caused by wind or hail damage. However, your policy likely won’t cover leaks from old roofs or a lack of maintenance. When does homeowners insurance cover roof leaks? It depends on how your policy defines a “covered peril” or “covered loss,” but standard homeowners insurance plans provide coverage for many sudden or accidental events, including: This isn’t to say any claim involving these events will be automatically successful, as it depends on…

U.S. ENERGY INFORMATION ADMINISTRATION WASHINGTON DC 20585 FOR IMMEDIATE RELEASE May 12, 2026 The U.S. Energy Information Administration published its May Short-Term Energy Outlook, reflecting a continued disruption to Middle Eastern oil flows. On Wednesday, May 13, EIA will release a new energy security dataset, which will be published quarterly, with information on global strategic petroleum reserves and flows through key shipping chokepoints for petroleum and liquefied natural gas (LNG). This new dataset will typically be published separately from the primary STEO release, based on the availability of underlying datasets necessary for the analysis. …

Analysis of across multiple timeframes, amid heightened concerns regarding the ongoing conflict between the U.S. and Iran, indicates a potential retest of the May 4 low in the near term. On Tuesday, US President Donald Trump said the ceasefire with Iran is “on life support” after rejecting Tehran’s latest proposal to end the conflict, calling it “totally unacceptable”. Iran’s Foreign Ministry spokesman, Esteqamali Baghaei, said the US has made “Unreasonable demands” to end the war, while the country’s parliament speaker, Mohammad Bagher Ghalibaf, said Tehran is ready to respond to “any aggression” that will leave the US “surprised”. On the…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. May 12, 2026 Federal Reserve Board announces termination of enforcement actions with F & M Holding Company, Inc. and Thread Bancorp, Inc. For release at 11:00 a.m. EDT The Federal Reserve Board on Tuesday announced the termination of the enforcement actions listed below: F & M Holding Company, Inc., Manchester, Georgia Written Agreement dated May 31, 2011 (PDF) Terminated May 6, 2026 Thread Bancorp, Inc., Rogersville, Tennessee (formerly known as Volunteer Bancorp, Inc.) …

By David Enna, Tipswatch.com The lingering war in the Mideast, and its oil-price shock, sent U.S. seasonally-adjusted inflation 0.6% higher in April and pushed the annual rate to 3.8%, its highest level since May 2023, the Bureau of Labor Statistics reported today. Core inflation rose 0.4% for the month and 2.8% for the year — both numbers higher than expectations. Economists expected an ugly report for April, but this was a bit uglier than forecast. Gasoline costs were a key factor, of course, rising 5.4% in the month after soaring 21.2% in March. Gas prices are now up 28.4% over…

Elyse Betters Picaro / ZDNETFollow ZDNET: Add us as a preferred source on Google. ZDNET’s key takeaways Gemini Intelligence automates multi-step tasks across apps.It also powers new Rambler and Create My Widget features.Gemini Intelligence will roll out first to Galaxy and Pixel phones.At I/O 2026, Google announced something called Gemini Intelligence. It’s the company’s next step toward turning Android from a mobile OS into a personal AI agent that can get things done for you on your phone.It can automate multi-step tasks across your Android apps and even enable new features in Chrome, Autofill, Gboard, and widgets. How Gemini Intelligence…

(Investing) – Oil prices climbed on Tuesday, extending gains of nearly 3% in the previous session, after U.S. President Donald Trump said a fragile ceasefire with Iran was on “life support,” denting hopes for an imminent peace agreement. As of 09:46 ET (13:46 GMT), , the global oil benchmark, rose 3.6% to $107.96 a barrel, while  advanced 3.5% to $101.52 a barrel. Market sentiment remained dominated by fears that the more than two-month old war in the Middle East could further tighten global supply, particularly after Trump rejected Tehran’s latest response to an American peace proposal, calling it “totally unacceptable.” He described…

(Image credit: Getty Images)In a modern economic system, some level of inflation is expected and largely unavoidable. Population growth increases demand. Fiscal spending injects money into the economy. Even productivity gains, while beneficial, can lead to higher consumption, which feeds back into pricing pressures.Because of its impact on everyday life, inflation is a major concern for policymakers. It affects housing affordability, food costs, transportation and overall living standards. Left unchecked, it can erode purchasing power and contribute to economic instability.For investors, inflation can eat into their real returns. While nominal returns are the headline numbers you see — the percentage…