American 401(k) plans lost 23 percent of their value in 2022, with the average account falling to a balance of $103,900, according to Fidelity Investments, which manages 35 million retirement savings accounts.
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CONSUMER SPENDING, INFLATION JUMP IN JANUARY
Consumers spent 1.8 percent more dollars in January than in December, according to the U.S. commerce department, adjusting a flash census bureau estimate of 3 percent offered earlier this month.
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REASONS TO BE HAPPY ABOUT LOW BOND PRICES AND HIGH INTEREST RATES
With the prospect of higher interest rates looming, prices of treasury securities are down about 5 percent this month and the bond market in general has fallen about 3 percent.
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WHEN AND IF WILL THE DOLLAR DIE?
The dollar has been on a tear for more than a year, surpassing the value of six other major currencies last May and wreaking havoc around the world.
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MUNICIPAL BOND INVESTMENTS SLOW IN FEBRUARY
After ringing up more than $1.1 billion in new investments last month, inflows to bond funds have slowed in February after strong recent economic data stirred concerns that the U.S. Federal Reserve will raise interest rates higher for longer.
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FED SEES HIGHER RATE HIKES LATER THIS YEAR AND NO CUTS
Members of the U.S. Federal Reserve’s rate-setting Open Market Committee are considering a quarter-point increase in its key federal funds interest rate at each of its next two meetings, but could jack the rate by three-quarters of a point in November and a half-point in December, minutes of the committee’s meeting earlier this month reveal.
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MIDDLE EAST MELTDOWN: NETANYAHU IS PREPARING FOR AN ATTACK ON IRAN’S NUCLEAR FACILITIES AFTER SECRET MEETINGS
Israeli Prime Minister Benjamin Netanyahu is preparing to carry out attacks on Iranian nuclear facilities and has attended secret meetings with top military officers about a possible confrontation with Tehran.
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NEW WORLD DISORDER: NIGERIANS FACE CASH SHORTAGES BEFORE PRESIDENTIAL ELECTION
Nigerians continue to face severe hardships due to the country’s decision to pursue a cashless policy and attempt to increase the value of its currency, the Naira, by reducing the amount of paper money in circulation by 54 percent to 1.39 trillion.
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NEW WORLD DISORDER: NUMBER OF ASYLUM SEEKERS IN EUROPE HIT NUMBERS NOT SEEN SINCE 2016
Nearly one million people sought asylum in Europe last year—not including the more than four million from Ukraine—as conditions in poor countries worsened and food insecurity increased.
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WWIII: U.S. QUADRUPLES TROOPS IN TAIWAN IN PREPARATION FOR WAR WITH CHINA
The U.S. will quadruple the number of troops in Taiwan on a training mission to ready Taiwanese forces for what they expect to be a looming Chinese invasion, a report said.