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Finance

Fed expected to pause rate cuts as it begins to weigh Trump policies

Andrew Ackerman
Jan 27, 2025 8:18 am - Donald Trump’s return to the White House is overshadowing the Federal Reserve’s meeting this week, as policymakers begin to grapple with the way the president’s policies on trade, immigration and spending could reshape the economy and potentially stoke inflation.
‘Money is freedom’: Older women face hurdles with investing; these savers figured it out

By Amy Rose Dobson
Jan 26, 2025 5:54 am - According to a recent study by Fidelity Investments, two-thirds of women in the boomer generation started investing in their 50s or later. These late starts, combined with the persistent gender wage gap over the course of a career, result in women having roughly 30% less income in retirement than men, according to a 2020 Brookings Institution study.
It’s tax season: BBB warns to watch out for scammers ready to siphon returns

Submitted by Better Business Bureau
Jan 26, 2025 5:10 am - “Because of the intricacies of filing your taxes, falling victim to a tax scammer is not inconceivable,” said Steve J. Bernas, BBB president and CEO. “As soon as tax season opens, tax scammers come out of the woodwork.”
Setting yourself up for financial success in 2025

By Simon Grant
Jan 26, 2025 5:01 am - Financial planning is more than just numbers on a spreadsheet — it’s about achieving peace of mind, securing your future and ensuring that your financial goals align with both your short- and long-term aspirations.
5 ideas for avoiding an overemphasis on short-term results

By Amy Arnott of Morningstar
Jan 26, 2025 4:45 am - Market news, by definition, focuses on recent events rather than long-term trends. As a result, recent events are top of mind, easier to remember, and often play an outsize role in investment decision-making.
How to organize your financial life ahead of natural disasters

By CORA LEWIS
Jan 26, 2025 4:17 am - There are ways you can make sure you're financially prepared for disaster, beyond insurance. The Federal Emergency Management Association and the Red Cross advise households gather important documents and contacts in a safe place, photograph the rooms in your home and valuable belongings, and have cash on hand.
Why are interest rates rising when the Fed has been cutting them?

By STAN CHOE
Jan 17, 2025 11:59 am - NEW YORK — What’s shaking Wall Street seems so backwards. Swings in the bond market recently sent the yield on the 10-year Treasury above 4.80% and its highest level sin...
IRS is sending out automatic stimulus payments. Who is getting them?

By SUSAN HAIGH and ADRIANA MORGA
Jan 17, 2025 11:50 am - The IRS is distributing about $2.4 billion to taxpayers who didn't receive their COVID stimulus payments. By the end of January, approximately 1 million taxpayers will re...
Illinoisans may be able to file federal taxes for free

ByJade Aubrey and UIS Public Affairs Reporting
Jan 16, 2025 1:33 pm - Many Illinois residents will be able to use the IRS Direct File service to electronically prepare and file their 2024 federal tax returns for free. Almost 2 million eligible Illinois taxpayers will be able to use Direct File starting Jan. 27.
People on the move: New hires at Itasca Bank & Trust, Lavelle Law

Daily Herald report
Jan 15, 2025 12:50 pm - Itasca Bank & Trust Co. has hired Elizabeth D. Romano as the bank’s Trust Department vice president/trust officer and appointed Thomas Gallagher as vice president/commerc...

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