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A series of interest rate hikes coming this year, said the Federal Reserve Chairman Jerome Powell during his confirmation hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. The federal funds rate or benchmark rate is currently at a range of 0% to 0.25%. This year, it can go up as high […]
Capitalism always ignores politics and significant social justice issues. Rumor has it that Tesla Inc might move its headquarters to Austin, Texas. The company held its annual shareholder meeting there yesterday. Oracle, Apple (second-largest campus), Charles Schwab, and many more Silicon Valley companies have moved to Texas over the past couple of years. Moreover, many […]
The financial crisis of 2007-2008 has lasting economic impacts. In the fall of 2008, the US gross domestic product (GDP) fell by 4.3 percent. Two well-researched academic papers proposed a different reason for the Great Recession. The paper by Professor Baijnath Ramraika and Michael Benatar, titled “Real Estate Prices, Subprime Lending and Financial Crisis: Lessons […]
Universal basic income (UBI) or guaranteed income has been gaining more and more momentum since then-presidential candidate Andrew Yang made it the cornerstone of his 2020 presidential run. UBI promises to give people a fixed amount of money every month with no strings attached or stipulations on how to spend it. According to Bloomberg, at […]
The GameStop, r/WallStreetBets and Robinhood’s saga last month dampened Robinhood IPO hope and fractured its “Investing for Everyone” slogan. The revolt against the popular trading platform might not be warranted. In case you missed GameStop, r/WallStreetBets, and Robinhood Mayhem, here is a recap. Members of the subreddit WallStreetBets were bullish on GameStop’s stock. They thought […]
Are you part of the middle-class? Most of us think they are; now, you can confirm your status. Let’s be honest climbing the socioeconomic ladder, and staying there has not been easy. Rising rents, education, and healthcare are parts of...
By MacKenzy Pierre
Wells Fargo is hurting more than helping their middle-class clientele. People with checking and savings accounts are more likely to become homeowners, move up a rung on the socioeconomic ladder, or start a new business. According to Violation Tracker, Wells...
By MacKenzy Pierre
Last week, I received an email from Apple Store stating that I could trade in my iPhone 7 plus to one of the newest phones. The iPhone Xs that I was interested in cost about 750 dollars; however, I could...
By MacKenzy Pierre
Since the beginning of time, from the silver and gold era economy to fractional reserve banking, money has been one of the most powerful motivators in...
By MacKenzy Pierre
Starting a business is an exciting and challenging endeavor. One of the most significant hurdles entrepreneurs face is securing funding to get their businesses off the...
By MacKenzy Pierre
Money transfers have become an essential part of modern life. With the globalization of business and the increasing number of people living and working abroad, it’s...
By Article Posted by Staff Contributor
Credit card debt hit a record of $986 billion in the United States in the final quarter of 2022. The average credit card user carried a...
By Article Posted by Staff Contributor
Accounting: The process of recording and reporting financial transactions. Accounts payable: Money owed by a business to its suppliers or creditors. Accounts receivable: Money owed to...
By Article Posted by Staff Contributor
Credit reports and scores are critical components of an individual’s financial health and play a significant role in determining their ability to access loans, credit cards,...
By Article Posted by Staff Contributor
With the rising foreclosures, car repossessions, and credit card defaults, numerous American consumers are getting debt collection calls. Debtors need to learn about the debt collection...
By Article Posted by Staff Contributor
Auto loans are a popular way for individuals to finance the purchase of a new or used vehicle. These loans can be secured or unsecured, meaning...
By Article Posted by Staff Contributor
A mortgage rate buydown is a financing strategy borrowers use to reduce the interest rate on their mortgage loans. Sellers start offering it as a concession...
By Article Posted by Staff Contributor
Financial literacy is understanding and using financial knowledge to make informed decisions. With the average American holding a debt balance of $96,371, it is an essential...
By MacKenzy Pierre
Since the beginning of time, from the silver and gold era economy to fractional reserve...
Starting a business is an exciting and challenging endeavor. One of the most significant hurdles...
Money transfers have become an essential part of modern life. With the globalization of business...