• Recession Could Send Some Americans Over a Financial Cliff
  
  The $2.8 trillion in stimulus and $6.7 trillion increase in the national debt the U.S. government has spent since the pandemic began, kept the economy from going into a downturn and gave some relief to Americans who would have been decimated by COVID.
• Govt Bond ETFs to Get Biggest Quarterly Inflow in 8 Years
  
  U.S government bond exchange-traded-funds (ETFs) are set to receive their highest inflow in at least eight years, in the second quarter of this year, as investors rush to put money in safer bonds amid fears over recession and higher inflation levels.
• Lauren Fix, The Car Coach: Is the Gas Tax Holiday a Gimmick?
  
  Could gas prices get any higher? Yes, they can, and it is expected that gas and diesel prices will continue to increase. Federal officials are looking for ways to reduce pain at the pump as gas and diesel prices continue to soar.
• Peter Reagan: The Fed Can't Save Us From What Comes Next
  
  First runaway inflation, now unavoidable recession - the Fed seems determined to stand by this time and let the economy stall. Here's why we each must create our own "soft landing."
• US to Cancel $6B in Student Loans for 200,000 Defrauded Borrowers
  
  The United States will cancel $6 billion in student loans for 200,000 borrowers who claimed they were defrauded by their colleges, the administration of U.S. President Joe Biden said.
• Trevor Gerszt: Gold Price Remains Stable Despite Rate Hikes
  
  Trying to figure out why the gold price rises and falls can sometimes feel like an exercise in futility. What it all comes down to ultimately is the interplay between supply and demand.
• Want to Fix Your Ailing Retirement Savings? Don't.
  
  When the stock market gets volatile, retirement investors are naturally inclined to want to do something about it. We certainly are at such a point now. The S&P 500 has plunged 21.1% so far this year, as of Wednesday's close. Last week, it lost 5.8%.
• 'Groundhog Day' at IRS: Returns Pile Up, Phone Delays Worsen
  
  It's Groundhog Day at the IRS.After digging out of a daunting backlog from 2021, the agency has an even bigger backup for this tax season than it did a year ago and its pace for processing paper returns is slowing down, according to a watchdog report released Wednesday.
• $3.4 Trillion Wiped From Retirement Accounts
  
  The extreme market volatility of 2022 has wiped $3.4 trillion from Americans' retirement savings since January, according to the Center for Retirement Research at Boston College.
• Mario Henry: How Crypto Could Help Solve the Homeless Problem
  
  The United States is a country with more than 400,000 people who are homeless. This is not a new problem. But did you know that the U.S. Government currently spends an average of over $7.2 billion a year on homelessness initiatives?
• US Charitable Giving Hit Record in '21 - But Inflation Looms
  
  Charitable giving in the United States reached a record $485 billion in 2021, though the increase did not keep pace with inflation, according to a report Tuesday offering a comprehensive look at American philanthropy.
• Peter Reagan: 3 Ways Historic Inflation Has Changed Everything
  
  It's hard to deny that inflation is the most pressing economic issue for most of us these days, whether we're saving for retirement or just filling up our tanks at the gas station. Ask anybody.
• Trevor Gerszt: Shoulda, Woulda, Coulda: Why the Fed Is Behind the Curve
  
  After the events of the past week, markets are finally starting to realize two things. First, the Federal Reserve hasn't done enough yet to curb inflation. Second, the Fed's attempts to curb inflation should have started a long time ago.
• JPMorgan Raises Prime Lending Rate to 4.75%
  
  U.S. bank JPMorgan Chase & Co said on Wednesday it had raised its prime lending rate by 75 basis points to 4.75%, effective Thursday. The move follows Federal Reserve's decision to raise its target interest rate by 75 basis points, the largest rate increase since 1994.
• What the Fed Rate Hike Means for You
  
  The U.S. Federal Reserve's big interest rate hike on Wednesday -- and the expectation of more to come -- is aimed at bringing down 40-year high inflation topping 8% on an annual basis in recent months.
• Bob Ciura: 3 Strong Dividend Kings for High Future Returns
  
  With the markets in free-fall due to rising interest rates and the prospect of a global recession, investors should focus on quality. This means focusing on quality stocks with rising dividends.
• Biden Slams Wall Street, Defends Economy
  
  U.S. President Joe Biden blasted Wall Street and Republicans, while making a full-throated defense of his economic plans to thousands of union members in Philadelphia on Tuesday, as he seeks to improve dismal approval ratings amid high inflation and fears of recession.
• Peter Reagan: Biden's Inflation-Fighting Plan Is Nonsense (And Even HE Knows It)
  
  Federal Reserve Jerome Powell repeatedly claimed that inflation was only "transitory" for a good portion of 2021. (Spoiler alert: the official data show shows he was wildly wrong.)Since Biden took office in January 2021, inflation has accelerated.
• US Auto CEOs, Toyota Urge Congress to Lift EV Tax Credit Cap
  
  General Motors Co., Ford Motor Co., Chrysler-parent Stellantis NV and Toyota Motor North America on Monday urged Congress to lift a cap on the $7,500 electric vehicle tax credit, citing higher costs to produce zero-emission vehicles.
• Wall St Week Ahead: Inflation Spells More Pain for Stocks & Bonds
  
  Blistering inflation is threatening to re-ignite twin declines in U.S. stocks and bonds, leaving investors with few places to hide from a Federal Reserve that appears locked in to its most aggressive policy tightening in decades.
• Airline Fares Skyrocket 38%
  
  Transportation services inflation rose 7.9% in May year over year, led by a 37.8% jump in airline fares, Labor Department released Friday shows.
• US Household Wealth Declines for First Time in 2 Years in 1st Quarter
  
  U.S. household wealth declined for the first time in two years in the first quarter of 2022, edging down to $149.3 trillion as a drop in the stock market outweighed further gains in home values, a Federal Reserve report on Thursday showed.
• Gas Closes in on $5 a Gallon
  
  The average price that Americans pay for a gallon of gasoline is closing in on $5, another drain on the wallets of consumers who are paying more for many other essentials, too.
• Mortgage Rates Jump Again; Buyers Head to the Sidelines
  
  Average long-term U.S. mortgage rates jumped back up ahead of next week's Federal Reserve meeting where it's expected to announce another increase to its main borrowing rate.
• Big Apple, Big Price: Median Manhattan Rents Reach $4,000 for 1st Time
  
  Rents in Manhattan continue to soar-with the median rent in the most desirable borough of New York reaching an even $4,000 for the first time, according to Douglas Elliman's newly released May rental market report. Average rents have also reached a record, $4,975.

More Personal Finance Stories