Economy & Policy – Money Crashers

Offshore Banking — What It Is and When It Makes Sense

Brian Martucci — Mon, 17 Jul 2023 11:00:00 +0000

Contrary to popular belief, offshore banking isn’t limited to the rich and unethical. It’s sometimes necessary for people — even ordinary Americans — to have offshore accounts for legitimate financial reasons. Curious what offshore banking can do for you?

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Fed’s Interest Rate Hikes in 2022 & 2024 – What the July Hike Means for You

Brian Martucci — Wed, 12 Jul 2023 20:45:00 +0000

Quick Look The Federal Open Market Committee of the Federal Reserve hiked the closely watched federal funds rate by 25 basis points, or one-quarter of a percent, at its meeting in July 2023. Federal Reserve Chair Jerome Powell announced the move at 2pm Eastern Time on Wednesday, July 26. The FOMC’s July 2023 rate hike

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What Caused the Panic of 1907? – How It Transformed Banking

Brian Martucci — Thu, 06 Jul 2023 13:00:00 +0000

The Panic of 1907 was a major American financial crisis that occurred in the fall of 1907. Also known as the Bankers’ Panic or Knickerbocker Panic, it nearly ruined the New York Stock Exchange. In its aftermath, Congress created the Federal Reserve Bank of the United States.

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What Is Cryptocurrency – How It Works, History & Bitcoin Alternatives

Brian Martucci — Thu, 18 May 2023 13:00:00 +0000

Cryptocurrencies, or virtual currencies, are digital means of exchange created and used by private individuals or groups. Bitcoin, Ethereum, and a host of alternative coins exist today. Learn what cryptocurrency is, how it works, the history of the technology, and examples of cryptocurrencies today.

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What Is the Sharing Economy – Example Companies, Definition, Pros & Cons

Brian Martucci — Sun, 02 Apr 2023 18:30:00 +0000

Some call it the gig economy. Others call it the peer economy. Others, the collaborative economy, or “collaborative consumption.” Still others, the sharing economy. Tomayto, tomahto. More important than what it’s called is what it is. As Fast Company contributor Rachael Botsman pointed out in a now-classic article on the topic, the sharing economy has

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Wealth Tax – What It Is, Pros & Cons of Current Proposals

Janet Berry-Johnson — Sun, 12 Mar 2023 18:40:00 +0000

During the 2020 presidential primary, multiple candidates drew attention to the concept of a wealth tax. While wealth taxes can come in many forms, there’s a lot of misinformation and misunderstanding about them. Find out how they work and who they really impact.

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Credit Card Competition Act — What It Is & How It Affects Consumers

Heather Barnett — Thu, 26 Jan 2023 14:00:00 +0000

There’s already a lot of misinformation out there about the Credit Card Competition Act. Before you decide whether you’re in the pro or con camp, it’s important to understand what the law is, how it will work, and who it helps and, yes, harms.

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Pros and Cons of Universal Basic Income (UBI)

Amy Livingston — Thu, 26 Jan 2023 12:00:00 +0000

Some are proposing a new type of benefit program called universal basic income, which would give every American adult a monthly cash payment with no strings attached. But what are the pros and cons?

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What Is the Gold Standard Currency System & What Happened to It?

Heather Barnett — Wed, 04 Jan 2023 18:00:00 +0000

The theory behind the gold standard is that it keeps overspending and inflation in check. While that sounds like something that couldn’t go wrong, the reality doesn’t live up to the hype.

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Rising Interest Rates – How to Protect Against & Take Advantage of Them

Brian Martucci — Thu, 22 Dec 2022 14:00:00 +0000

Economic historians — and anyone who lived through it — will remember 2022 as a year of rapidly rising interest rates. From closely watched benchmarks like the federal funds rate to rates on mortgages, auto loans, and credit cards, the year ended with much higher rates than when it started. Even if you pay your

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What Are Benchmark Interest Rates & How Do They Work?

Heather Barnett — Mon, 07 Nov 2022 22:15:01 +0000

You’re probably not alone if you’ve always wondered what benchmark interest rates were but were too afraid to admit you didn’t already know. Learn what they are, how they work, and how they affect you.

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Are We in a Recession Currently? Could We Be Headed That Way?

Amy Livingston — Thu, 01 Sep 2022 13:00:00 +0000

Is the U.S. in a recession? And if a recession hasn’t hit yet, how long before it does? That’s not a simple question to answer. Learn about the many different indicators economists use to determine when the economy is going into a downturn, and which are flashing right now.

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What Is Quantitative Easing (QE) and How Does It Work?

Joshua Rodriguez — Mon, 29 Aug 2022 11:00:00 +0000

When the economy is in crisis and the central bank has exhausted its normal playbook, it can enact a quantitative easing (QE) program to inject money into the economy. But what does that mean exactly and what are the effects? Learn about quantitative easing and what it means for you.

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Inflation Reduction Act of 2022 – What’s in the Bill, What Does It Cost & What Does It Mean for You?

Amy Livingston — Thu, 25 Aug 2022 17:00:00 +0000

On August 16, 2022, President Biden signed the Inflation Reduction Act into law. With major provisions on climate, energy, health care, and taxes, it’ll affect every American in the coming years. Find out what’s in it and what it might mean for your life.

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What Is the Federal Reserve System – History & How It Affects You

TJ Porter — Tue, 09 Aug 2022 11:00:00 +0000

The Federal Reserve, commonly known as the Fed, is the central bank of the United States. It’s tasked with managing the nation’s economy, providing banking services to the US government, and determining monetary policy. Learn more about its history and how it works.

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Universal Basic Income (UBI) – What It Is and How These Programs Work

Amy Livingston — Mon, 25 Jul 2022 11:00:00 +0000

There have been all kinds of proposals to deal with the problem of global poverty. But lately, more people are looking at a much simpler approach: Just give people money. But what is universal basic income?

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Who Benefits From Inflation: Borrowers or Lenders?

TJ Porter — Wed, 20 Jul 2022 17:00:00 +0000

Inflation causes money to lose value over time. But that’s not always a bad thing. For borrowers and lenders, inflation has some low-key benefits. Find out what they are and how to take advantage of them.

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Real vs. Nominal Interest Rates – Differences Between Them

TJ Porter — Tue, 19 Jul 2022 11:00:00 +0000

Whether you’re borrowing money or saving it, interest rates affect your personal finances. There are two types to keep track of: real and nominal interest rates. Learn the difference between them and find out which is more important.

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What Happens to Home Prices When Interest Rates Go Up?

G. Brian Davis — Tue, 12 Jul 2022 15:00:00 +0000

Interest rates are rising once again. Will home prices fall as a result? The evidence is unclear. Learn more about the relationship between interest rates and home prices, and when rising interest rates might spell trouble for sellers — and opportunity for buyers.

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Quantitative Tightening (QT) By the Fed – What It Is and Economic Effects

Joshua Rodriguez — Tue, 12 Jul 2022 13:00:00 +0000

Quantitative tightening is a part of monetary policy that occurs when a nation’s central bank unwinds assets on its balance sheet by letting fixed-income securities it owns reach maturity. It helps to fight inflation gradually. Learn how quantitative tightening affects the markets and the economy.

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