The Money Section | The Fed pushes back on March rate cuts

͏Also, older workers are underestimating their retirement budgets. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [The Charlotte Observer]( February 1, 2024 • Issue #70 [The Money Section] This week, we’re looking at how the IRS is trying to improve its tax season process, what’s in store for the Fed’s first meeting of the year, and why student loan forgiveness updates are confusing borrowers. The IRS has started accepting 2023 income tax returns. [IRS]( Money; Getty Images The bureau is aiming for over 128 million filings by April 15, promising better service due to funding from the Inflation Reduction Act. [Read more about what you can expect]( including shorter wait times for phone help, paperless processing, and improvements to the Where’s My Refund? tool. 📈 U.S. stocks rose (again) on Monday. The Nasdaq saw the largest gain, while the S&P 500 reached another record high, with BlackRock upgrading its view on U.S. stocks. Market analysts anticipate potential volatility amid earnings releases, Fed announcements, and ongoing geopolitical uncertainties throughout the week. [Read more.]( 😮 Amazon has called off its acquisition of iRobot. The deal, announced in 2022 for $1.7 billion, faced antitrust scrutiny on both sides of the Atlantic. Following the termination, iRobot will undergo a restructuring plan, including layoffs and a change in CEO. [Here’s why the acquisition fell through.]( Many older workers are underestimating their retirement budgets. [Budget]( Money; Getty Images The discrepancy between expectations and reality may lead some retirees to consider re-entering the workforce, as 1 in 3 are planning to do so due to financial concerns. [Read more about what’s contributing to all the uncertainty.]( 👨 Walmart now offers company stock grants to store managers. The move follows the company’s recent wage increases for store workers and aims to make managers feel like owners. Will Walmart’s [moves to boost morale and retention work?]( 💸 Jerome Powell says rate cuts "unlikely" by March. The Federal Reserve, in its Federal Open Market Committee (FOMC) meeting on Wednesday, acknowledged solid economic expansion and a still-strong labor market but expressed a cautious stance on rate cuts, dampening hopes for a reduction in March. [Here’s why that is.]( Biden’s student loan forgiveness updates bring confusion. [Forgiveness]( Money; Getty Images The Biden administration's recent student loan forgiveness initiatives, including the SAVE plan and adjustments to IDR and PSLF programs, have created confusion among borrowers due to complex qualifications and mixed messaging. [Here’s what they’re saying.]( 🏦 IMF now signals a “soft landing” for the economy. A resilient U.S. economy and better-than-expected performance from China, India, and Brazil are driving this improved outlook from the International Monetary Fund. Despite lingering concerns, strong economic indicators prompt anticipation of interest rate cuts by central banks. [Read more.]( 📺 Amazon Prime Video introduces ads. The controversial move marks a shift from the ad-free streaming model once promised by services like Amazon, signaling the end of an era. As streaming platforms explore alternative revenue streams, [read why consumers are left reevaluating the value of their subscriptions](. Smart Money Move Diversify your retirement with a Gold IRA [Gold] [Gold] Protecting your retirement from market volatility and inflation is essential. A Gold IRA can offer stability amidst economic uncertainty, safeguarding your wealth for the future. With gold's value forecasted to rise this year, now could be the ideal moment to diversify your portfolio. Prepare for a brighter tomorrow by incorporating gold into your retirement plan today. [Check out our list of top-rated Gold IRA Companies and fortify your retirement strategy today.]( The information provided in this email is for educational purposes only and is not intended as investment or financial advice. Stories we're reading this week - [Does Pet Insurance Cover Vaccines?]( - [‘Do Not Drive’: Toyota Recalls 50,000 Older US Cars Over Deadly Airbag Fears]( - [Finance Giants Say 2024 Will Favor Active Investing Over Safer Passive Approaches]( - [Elon Musk Says The First Human Has Received a Brain Implant From His Neuralink Startup]( - [Mortgage Rates Will Drop Below 6% This Year, Says Fannie Mae]( - [UPS Announces 12,000 Job Cuts, Says Package Volume Slipped Last Quarter]( - [10 Cities Where Gen Zers Have The Best Shot At Buying Homes In 2024]( The Money Section is written in partnership with Money Research Collective This email was sent to {EMAIL} because you are signed up to receive marketing emails or newsletters from The Charlotte Observer. If you no longer wish to receive emails of this type, you may [unsubscribe]( or [update your email preferences](. We are unable to monitor replies to this email. Please [contact customer service]( if you have any questions or concerns. 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