The increases cover IRAs as well as 401(k) and other retirement plans.
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President Joe Biden on Wednesday will call on Congress to suspend federal gasoline and diesel taxes for three months — an election year move meant to ease financial pressures at the pump as the public is increasingly concerned about high gas prices and inflation.
President Joe Biden inherited an underfunded, overextended Social Security program that was already crowded with aging baby boomers as dwindling funds dried up before the pandemic stressed the system even further.
In Nevada and nationally, citizens saw a slight dip in gas prices — the first decrease since early May.
The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come.
The Biden administration plans to freeze federal student loan payments through Aug. 31, extending a moratorium that has allowed millions of Americans to postpone payments during the coronavirus pandemic, according to an administration official familiar with the White House’s decision-making.
Food prices that are already at their highest point in more than a decade are set to push even higher amid a global shortage of fertilizer that has worsened since Russia invaded Ukraine.
A proposal sought by Democratic U.S. senators — including Nevada’s Catherine Cortez Masto and Jacky Rosen — to reduce federal gas taxes won’t bring relief for Nevada residents.
The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation.