Federal Reserve Chair Powell deems it premature to discuss cutting rates and suggests the possibility of more hikes.

Federal Reserve Board Chairman Jerome Powell, in a speech at Spelman College in Atlanta, dismissed market expectations for aggressive interest rate cuts as premature. Powell emphasized that the Federal Open Market Committee intends to keep policy restrictive until inflation is solidly back to 2%. He also stated that they are prepared to tighten policy further…

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Monthly Savings Needed to Achieve $2 Million Retirement Savings on a $150K Salary

According to CNBC’s August “Your Money” survey, only about half of American workers earning $100,000 or more feel that they’re contributing enough to their 401(k)s to comfortably retire in the future. The survey also found that for those earning between $100,000 and $149,000, the median retirement account balance is $104,155, per Vanguard’s 2023 “How America…

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Ford reduces the size of EV battery plant in Michigan

Ford Motor Company’s original plan of a $3.5 billion battery plant in Michigan will see a significant scale-back following slower-than-expected consumer adoption of electric vehicles, rising labor costs, and overall cost-cutting by the company. The decision comes after the initial announcement in February, which garnered significant attention due to its partnership with Chinese battery manufacturer…

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Workers at UAW-Ford approve new contract

Ford Motor’s UAW Union Members Approve Tentative Labor Agreement After contentious negotiations, union members at Ford Motor approved a tentative agreement, concluding contract negotiations between the United Auto Workers and Detroit automakers. The UAW-Ford workers were the last of the automakers to ratify their pact, following General Motors workers who narrowly approved an agreement Thursday…

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