The Daily Money: Will the Fed signal a rate cut?
Good morning! It's Daniel de Visé with your Daily Money.
We've seen temperatures swing wildly outside the Daily Money offices, from a low around 15 degrees in mid-month to a high near 80 last week. Now, winter has returned, and it's time to take the temperature of the U.S. economy.
After spending nearly two years on a single-minded mission to stamp out soaring inflation by boosting interest rates, the Federal Reserve finds itself with a far more gratifying dilemma as it kicks off 2024: Figuring out when to start cutting.
Inflation has been coming down more rapidly than Fed officials anticipated, Paul Davidson reports, following a pandemic-induced spike in prices, even as the economy and labor market have remained resilient.
At a two-day meeting that starts Tuesday, the Fed is expected to hold its key short-term rate steady for a fourth straight meeting. Some think the Fed will begin lowering the benchmark rate as soon as March. The central bank could signal its intentions at this week’s gathering.
'Gray divorce' is costly, especially for women
The divorce rate has doubled since 1990 for Americans over 55. For couples over 65, the rate has tripled.
And in financial terms, few “gray divorcees” are better off. In dollar terms, divorce is costly to anyone. Yet, for older Americans, the costs are steeper.
“One in 10 people getting divorced today is 65 or older. That is remarkable,” said Susan Brown, distinguished professor of sociology at Bowling Green State University in Ohio.
Several demographic factors shaped the gray divorce phenomenon, researchers say: The American population is aging. People are staying healthy longer. Couples are marrying later.
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🍔 Today's Menu 🍔
Tuesday is National Croissant Day. And if you are fond of Burger King's version of a croissant, you're in luck.
Members of Burger King's Royal Perks loyalty program can get a Croissan’wich breakfast sandwich for just one cent when they place an order of $1 or more in the BK app or online at BK.com, Mike Snider reports.
According to Burger King's menu online, there are seven different Croissan’wich sandwiches to choose from: Egg & Cheese, Ham, Egg, & Cheese, Bacon, Egg, & Cheese. . . .
And now that I've got you humming The Spam Song, I will bid you adieu.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.
Daniel de Visé covers personal finance for USA Today.