Maybe you only think about the Federal Reserve when interest rate decisions make headlines. However, the Fed does much more than that, and it often impacts Americans’ personal finances. The Federal Reserve acts as a bank for banks. It holds bank deposits, lends money to financial institutions, and facilitates the…

The Treasury Department announced it is canceling all contracts with Booz Allen Hamilton (often simply called Booz Allen) for failing to protect sensitive taxpayer information. Treasury cited the massive IRS data breach carried out by former Booz Allen employee Charles Edward Littlejohn. The department said it is terminating 31 contracts,…

If you’re wondering when your federal tax refund will land in your bank account, you’re not alone. In fiscal year 2024, the IRS estimated about 117.6 million taxpayers were owed refunds totaling $461.2 billion. That’s a lot of money sitting with Uncle Sam. Want to know when you’ll get back…

Following three interest rate cuts in 2025, the Federal Reserve is back in its wait-and-see mode. Current thinking, as measured by federal funds futures trading, puts the next rate cut no sooner than June. Scott Anderson, chief U.S. economist for BMO, believes resilient consumers are driving the economy but will…

Twenty-five years ago, there were about 35 million Americans age 65 or older and about 10,000 board certified specialists in geriatric medicine to care for them. Today, there about 60 million older adults in the US. And the number of geriatricians has fallen to about 7,300. Perhaps more troubling, it…

Gold (GC=F) futures opened at $5,013.40 per troy ounce on Monday, up 0.7% from Friday’s closing price of $4,979.70. This was the first time the price of gold opened above $5,000. Gold’s move above $5,000 follows a weekend threat by President Trump to levy a 100% tariff on all Canadian…

As 2026 begins, changes are filtering through the U.S. housing market. Mortgage rates are near their lowest in over three years. Home values are decreasing in certain areas, sellers are reducing their listing prices, and houses are staying on the market for longer. Considering all of the factors that exist…

Some federal student loan borrowers can qualify for forgiveness through programs such as Public Service Loan Forgiveness (PSLF), Teacher Loan Forgiveness (TLF), or after making years of payments under an income-driven repayment (IDR) plan. These programs provide significant relief. As of September 2025, PSLF forgiveness eliminated $87.6 billion in combined…

When people say they’ve been “audited,” they usually mean they received a letter from the IRS. But not every IRS letter signals an audit. It helps to understand how returns are selected — and how issues are handled once they’re identified.Audit rates are typically very low. According to the 2024…

Mortgage rates have stepped slightly higher from recent lows. The average 30-year fixed rate, according to data compiled from the lender marketplace of Zillow, is now 6.00%. The 15-year fixed rate currently sits at 5.50%. It could be a great time to buy a house or refinance your existing mortgage.…