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Monday, January 29, 2024

Will the Fed signal rate cuts?

The Federal Reserve meets Tuesday. ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Mon Jan 29 2024

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

We've seen temperatures swing wildly outside the Daily Money offices, from a low around 15 degrees in mid-month to a high near 80 last week. Now, winter has returned, and it's time to take the temperature of the U.S. economy.

After spending nearly two years on a single-minded mission to stamp out soaring inflation by boosting interest rates , the Federal Reserve finds itself with a far more gratifying dilemma as it kicks off 2024: Figuring out when to start cutting.

Inflation has been coming down more rapidly than Fed officials anticipated, Paul Davidson reports, following a pandemic-induced spike in prices, even as the economy and  labor market have remained resilient.

At a two-day meeting that starts Tuesday, the Fed is expected to hold its key short-term rate steady for a fourth straight meeting. Some think the Fed will begin lowering the benchmark rate as soon as March. The central bank could signal its intentions at this week's gathering.

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Marriner S. Eccles Federal Reserve building in Washington, DC

JIM WATSON, AFP via Getty Images

'Gray divorce' is costly, especially for women

The divorce rate has doubled since 1990 for Americans over 55. For couples over 65, the rate has tripled.

And in financial terms, few "gray divorcees" are better off. In dollar terms, divorce is costly to anyone. Yet, for older Americans, the costs are steeper.

"One in 10 people getting divorced today is 65 or older. That is remarkable," said Susan Brown, distinguished professor of sociology at Bowling Green State University in Ohio.

Several demographic factors shaped the gray divorce phenomenon, researchers say: The American population is aging. People are staying healthy longer. Couples are marrying later.

📰 More stories you shouldn't miss 📰

🍔 Today's Menu 🍔

Tuesday is National Croissant Day. And if you are fond of Burger King's version of a croissant, you're in luck.

According to Burger King's menu online, there are seven different Croissan'wich sandwiches to choose from: Egg & Cheese, Ham, Egg, & Cheese, Bacon, Egg, & Cheese. . . .

And now that I've got you humming The Spam Song, I will bid you adieu.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Daniel de Visé covers personal finance for USA Today.

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, DC, on March 22, 2023. - The Federal Reserve raised its benchmark lending rate on Wednesday, in line with expectations, continuing a hiking cycle to tackle high inflation while warning that recent banking troubles could hit households and businesses. The quarter-point increase raises the target range to 4.75-5.00 percent, the Fed announced in a   statement. (Photo by OLIVIER DOULIERY / AFP) (Photo by OLIVIER DOULIERY/AFP via Getty Images) ORIG FILE ID: AFP_33BV3HC.jpg

The Federal Reserve is likely to leave the door open to a March rate cut this week without giving a decisive signal. Inflation has dropped rapidly.

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Nathaniel Pagendarm, 24 hands his resume to Peter Chekijan (L) of Twin Fork Beer Co. at the Employers Only Long Island Food, Beverage and Hospitality Job Fair on October 19, 2021 in Melville, New York.
 

How to make your resume pop in a competitive job market

Tips for marketing yourself at a time of fewer openings and more workers looking to change jobs.

With summer in swing, a spike in divorces may be just around the corner for Americans, and to ensure the best possible outcome, divorce and family law attorneys say planning needs to begin now.
 

'Gray divorce' is a costly move, especially for women

The divorce rate has doubled since 1990 for Americans over 55. And in financial terms, few "gray divorcees" are better off.

Group of people waiting for job interview
 

Having a hard time getting a job? Expert tips for a smoother job hunt

A recent Business Insider article detailed a tech worker who had 17 interviews for 4 jobs. An expert weighs in on how to avoid the job hunt runaround.

A Tesla Model S sedan is plugged into a Tesla Supercharger electrical vehicle charging station in Falls Church, Virginia on Feb. 13, 2023.
 

Ford, Tesla, Jaguar among 2 million vehicles recalled: Check here

The NHTSA recently announced recalls for over 2 million vehicles which include Ford, Tesla, Jaguar, BMW Rolls-Royce, Suzuki, Mazada, and Range Rover.

National Croissant Day is on Tuesday January 30th.
 

National Croissant Day 2024: How to get Burger King's 1 cent deal

Tuesday, Jan. 30, is considered National Croissant Day. To celebrate Burger King has a special deal on its Croissan'wich breakfast sandwich.

The 2021 tax season kicked off on Jan. 24, 2022. For most, the tax deadline to send your return is April 18, 2022.
 

Tax season 2024 opens Monday. Here's what you should know.

Tax season opens Monday. Here's what to do.

The 2020 tax season kicks off Jan. 27 when the IRS will first begin processing e-filed tax returns.
 

Infertility treatments are tax deductible, but only to certain couples

The IRS says certain infertility treatments are tax deductible, but experts say the rules in this area are hazy, especially for LBGTQ+ couples.

Losing your job can be depressing, but it's important to not wallow in self pity.
 

Lost your job at in your 50s? What to do about insurance.

When you lose a job in your 50s, you need to replace your insurance and manage your savings carefully.

File- This Feb. 23, 2018, file photo shows shoppers leaving a Sam's Club in Pittsburgh. Walmart's Sam's Club is teaming up with several health care companies to offer discounts on everyday care its customers might delay or skip because of the cost. Starting early October, Sam's Club members in Michigan, Pennsylvania and North Carolina, will be able to buy one of four bundles of health care services ranging in annual fees from $50 for individuals to $240   for a family of up to six members. The pilot program could potentially be rolled out to members in all the states, says Lori Flees, senior vice president of Sam's Club Health and Wellness. (AP Photo/Gene J. Puskar, File) ORG XMIT: NYSH702
 

Sam's Club bookcase dupe is latest to get attention of online shoppers

After spotting the Anthropologie mirror at Costco, online shoppers have now identified an Urban Outfitter's dupe at Sam's Club.

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