Federal tax brackets are projected to rise 3.2% next year, allowing Americans to earn more before their income is taxed at higher rates, according to new estimates from Bloomberg Tax. The IRS adjusts its tax brackets each year for inflation, a step that can provide some financial relief to people whose income is taxed at…
A hotter-than-expected inflation report has sharply raised the likelihood that the Federal Reserve will increase interest rates in September, which would mark its first rate hike since 2023. The Consumer Price Index rose at an annual rate of 3.4% in August, in line with July’s reading but higher than the 3.3% economists were forecasting. One-third…
Stubbornly hot inflation in August could push up the 2027 cost-of-living adjustment for Social Security recipients, according to a new estimate from the AARP. The 2027 COLA is now projected at 3.6%, based on the August Consumer Price Index figures released on Wednesday, according to the advocacy group. AARP had forecast a 3.5% increase a month…
Inflation held steady in August, with consumer prices rising 3.4% from a year earlier, matching July’s pace but coming in slightly higher than economists had forecast as gasoline costs kept prices elevated. By the numbers Economists polled by FactSet expected inflation to rise in August at an annual rate of 3.3%. The CPI, a basket…
A key inflation reading tomorrow could determine whether the Federal Reserve issues its first interest rate hike in more than three years. The August Consumer Price Index report, scheduled for release at 8:30 a.m. ET on Friday, is the last major inflation snapshot Fed officials will receive before announcing their next interest rate decision on…
President Trump’s vow to send $5,000 to every U.S. adult if the Republican Party keeps control of Congress in the midterm elections would drive up the federal deficit, reignite inflation and alarm investors, according to economists. After Mr. Trump raised the idea of such a dividend on Wednesday night at the Republican National Committee’s midterm…
London — One of the youngest children in the world to receive a new type of gene therapy to treat genetic deafness can now hear for the first time in her life. The family of the toddler taking part in a medical trial has called the change in their daughter “mind-blowing.” Opal Sandy, now 18…
Apple is set to unveil its latest iPhones today at its annual fall showcase, as new CEO John Ternus steps into the spotlight after succeeding longtime leader Tim Cook earlier this month. What time is the Apple event? The event, dubbed “Surprise and Shine” by Apple, will start at 1 p.m. ET at its Cupertino,…
Washington — A coalition of Michigan Jewish leaders launched a petition campaign on Tuesday calling on Democratic Senate nominee Abdul El-Sayed and other candidates to make baseline commitments regarding Jewish safety and their views toward Israel, or risk losing their support. “It is about Dr. El-Sayed, and it’s also about a bigger issue going on…
Apple’s annual fall product showcase is expected to deliver two firsts: the company’s first foldable phone and the debut of new CEO John Ternus, who succeeded longtime leader Tim Cook on Sept. 1. The event, which Apple is dubbing “Surprise and Shine,” will start at 1 p.m. ET on Sept. 9 at its Cupertino, California,…
