How Much Should You Be Saving?

How much you “should” be saving is an extremely tough question to answer on your own. Economics alone can’t tell you what to do. But economics does provide a general guide to answering this question. It’s called consumption smoothing — the goal of...

What happened to market volatility?

In 2022, market volatility made a comeback as what central bankers called transitory inflation proved to be anything but. Finding himself increasingly behind the inflation curve, Jerome Powell, the chair of the U.S. Federal Reserve, began to promise and deliver...

Average CD Rates Rise Again, But Is the Party Almost Over?

CD rates have skyrocketed since March 2022, when the Federal Reserve implemented what was its first rate hike after dropping the federal funds rate to zero at the start of the pandemic. Since that first post-pandemic increase, the Fed has hiked rates nine more times...

Taxpayers ‘Terrorized’ By Complexity In 1919

Some of the most intractable problems plaguing the federal tax system have been around for a long time. Complaints about complexity, for instance, appeared before Congress even finished drafting the modern income tax in 1913.