US Federal Reserve Chair Jerome Powell arrives to testify before the Senate Banking, Housing, and Urban Affairs Hearings to examine the Semiannual Monetary Policy Report to Congress at Capitol Hill in Washington, DC, on July 9, 2024.Chris Kleponis | AFP | Getty ImagesFederal Reserve officials head into their policy meeting...
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Harris’ rise in polls sparks wave of wealth transfers to kids
Dimensions | E+ | Getty ImagesA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The tightening presidential race has touched off a wave of tax planning by ultra-wealthy...
Shein and Temu prices are set to get a lot higher as Biden takes aim at retailers linked to China
A man walking past a logo of fast fashion e-commerce company Shein outside its office in Guangzhou in southern China's Guangdong province. Jade Gao | Afp | Getty ImagesThe bottom of the barrel prices that have made Chinese-linked e-tailers Shein and Temu so popular with American consumers could soon rise if...
Stocks often drop in September — but many investors shouldn’t care
Traders on the New York Stock Exchange floor on Sept. 9, 2024.Spencer Platt | Getty Images News | Getty ImagesSeptember historically hasn't been kind to stock investors.Since 1926, U.S. large-cap stocks have lost an average 0.9% in September, according to data from Morningstar Direct. September is the only month during...
Interest payments on the national debt top $1 trillion as deficit swells
A view shows a bronze seal beside a door at the U.S. Treasury building in Washington, U.S., January 20, 2023. Kevin Lamarque | ReutersThe U.S. government for the first time has spent more than $1 trillion this year on interest payments for its $35.3 trillion national debt, the Treasury Department reported...