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CNN  —  The Consumer Price Index is more than just the most widely used inflation gauge and a measurement of Americans’ purchasing power. Its robust data plays a key role in the US economy’s trajectory as well as monthly mortgage payments, Social Security checks, financial aid packages, business contracts, pay negotiations and curiosity salves for those who wonder what Kevin McCallister’s $19.83 grocery bill in “Home Alone” might cost today. However, this gold standard piece of economic data has become a little less precise recently: The Bureau of Labor Statistics posted a notice on Wednesday stating that it stopped collecting…

Citadel CEO Ken Griffin speaks at the 2025 Forbes Iconoclast Summit.Jamel Toppin/Forbes Billionaire Ken Griffin, founder of $63 billion (in assets) Citadel hedge fund and market maker Citadel Securities, slammed the Trump Administration’s handling of the economy and the Republicans’ new tax and spending bill in remarks at Thursday’s 2025 Forbes Iconoclast Summit. A prominent Republican political donor who voted for President Donald Trump during the last election, Griffin criticized the GOP’s signature bill–which they’re dubbed the “One Bill Beautiful Bill”—over concerns about how it would increase the federal budget deficit and ballooning federal debt. (Just yesterday, the Congressional Budget…

London CNN  —  The European Central Bank on Thursday cut its main interest rate again, citing slowing price rises. The widely anticipated move takes the ECB’s main rate to 2%, from 2.25% previously, and marks the eighth time the central bank has slashed borrowing costs since last June as inflation has tumbled from multi-decade highs. Year-on-year consumer price inflation across the 20 countries using the euro dropped to 1.9% last month — falling below the ECB’s 2% target for the first time since September. The decision risks provoking further attacks by President Donald Trump on the Federal Reserve for not…

PUNTA GORDA – OCTOBER 10: In this aerial view, a person walks through flood waters that inundated a neighborhood after Hurricane Milton came ashore on October 10, 2024, in Punta Gorda, Florida. The storm made landfall as a Category 3 hurricane in the Siesta Key area of Florida, causing damage and flooding throughout Central Florida. (Photo by Joe Raedle/Getty Images)Joe Raedle | Getty Images News | Getty ImagesIt’s officially hurricane season, and early forecasts indicate it’s poised to be an active one.Now is the time to take a look at your homeowners insurance policy to ensure you have enough and…

PARIS: An inspired Lois Boisson delighted Roland Garros as the French world number 361 downed Mirra Andreeva on Wednesday to set up a French Open semi-final against Coco Gauff, while Jannik Sinner secured a last-four meeting with either Novak Djokovic or Alexander Zverev. Boisson, making her debut at a Grand Slam event, powered her way to a thrilling 7-6 (8/6), 6-3 victory on a raucous Court Philippe Chatrier to become the first Frenchwoman to reach the semis since Marion Bartoli in 2011. The 22-year-old, who was due to play at last year’s French Open but suffered a knee injury the…

ISLAMABAD: National snooker player Babar Masih on Wednesday urged the federal government and the Pakistan Sports Board (PSB) to acknowledge his achievements on the international stage, lamenting the lack of recognition and support extended to him despite a series of medals won for Pakistan. Addressing a press conference at the residence of former federal minister and minority rights activist J. Salik, Babar said he had represented Pakistan in multiple international snooker events, securing medals on numerous occasions, yet had been overlooked for rewards and official recognition. “I fail to understand why I have not received the attention or prize money…

Polish cyclist Małaszko poses at K2 Base Camp.—Photo by the writer • Polish national Małaszko says he travelled 3,322km and trekked 54km with his bike on his back over 56 days• Legal dispute over trekking permit fees temporarily halted his expedition, until court intervened GILGIT: Polish cyclist Maaszko, who started his ‘K2 B.C Bike Expedition’ from Karachi on April 4 to cycle across Pakistan from the shores of the Arabian Sea to K2 base camp, and completed his journey late last month, claims he is the first person to accomplish this feat. The 46-year-old cyclist said he completed the 3,376-km…

Computer graphics of dollar banknotes stream flying around United States Capitol. Colorful twilight … More sky with clouds in backgrounds. Finance, banking, monetary policy and quantitative easing concept. The great wave off Kanagawa homage to Hokusai.getty The federal government is continuing to do what it has done for decades; spending more than it collects. Though this may not be surprising, it should be alarming. Why? Because as the national debt continues to rise, the government will be required to pay more and more of its revenue to service the debt. This will leave less money for everything else such as…

Seksan Mongkhonkhamsao | Moment | Getty ImagesThe average 401(k) plan savings rate recently notched a record high — and the percentage is nearing a widely used rule of thumb.During the first quarter of 2025, the 401(k) savings rate, including employee and company contributions, jumped to 14.3%, according to Fidelity’s quarterly analysis of 25,300 corporate plans with 24.4 million participants.More from FA Playbook:Here’s a look at other stories affecting the financial advisor business.Despite economic uncertainty, “we definitely saw a lot of positive behaviors continue into Q1,” said Mike Shamrell, vice president of thought leadership for Fidelity’s Workplace Investing. The report found that…

A few months of market swings have taken a toll on retirement savers.The average 401(k) balance fell 3% in the first quarter of 2025 to $127,100, according to a new report by Fidelity Investments, the nation’s largest provider of 401(k) plans.The average individual retirement account balance also sank 4% from the previous quarter to $121,983, the financial services firm found. Still, both 401(k) and IRA balances were up year over year.The majority of retirement savers continue to contribute, Fidelity said. The average 401(k) contribution rate, including employer and employee contributions, increased to 14.3%, just shy of Fidelity’s suggested savings rate…