How to protect your 401(k) in a bear market

Editor’s Note: This is an updated version of a story that originally ran on August 29, 2022. Stocks and bonds are trading in bear territory. And given current circumstances, it’s fair to assume the markets will remain volatile for a while. Interest rates are rising quickly in the US and Europe amid government efforts to … Read more

Markets in a tailspin get a big dose of chill from the Bank of England

This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN Business — All the drama out of the UK government is keeping me from catching up on the only UK drama I really want to consume, which is Love Island, season 8, … Read more

Markets are now treating UK bonds like Greek and Italian debt

London CNN Business — The pound may have paused its headlong crash towards parity with the US dollar, but the damage to the UK economy sparked by Prime Minister Liz Truss’ huge tax-cutting gamble is still rippling through financial markets. Sterling stabilized early Tuesday to trade near $1.08, bouncing off Monday’s record low of around … Read more

Consumers are growing more optimistic about the US economy

CNN — Consumer confidence rose for a second straight month in September, as moderating gas prices and the hope that inflationary pressures might be easing helped lift the nation’s collective mood. The Conference Board reported on Tuesday that its baseline index rose to 108 from a revised 103.6 in August, the highest it has been … Read more

Food prices are soaring, and that’s changed how we eat

New York CNN Business — Lisa Altman used to take pride in being able to eat what she wanted without worrying much about the cost. When she was growing up, seconds weren’t served and side dishes were rare. “My mom had a budget every week, and she stuck to it,” she said. “As I got … Read more

What rising interest rates mean for your credit, loans, savings and more

Editor’s Note: This is an updated version of a story that originally ran on August 26, 2022. In its continued bid to quash high inflation, the Federal Reserve on Wednesday raised the overnight bank lending rate to a range of 3% to 3.25%. It is the fifth increase by the US central bank in six … Read more

Brace yourselves, the Fed is about to inflict ‘some pain’ to fight inflation — here’s how to prepare your wallet and portfolio

The Fed is ready to bring the pain. Are you prepared? Weeks ago, Federal Reserve Chair Jerome Powell cautioned there would be “some pain to households and businesses” as the central bank jacks up interest rates to fight inflation that’s higher than it’s been in four decades. Powell and other members of the Fed’s Federal … Read more