Government regulation/policy

401(k) Hardship Withdrawals Hit an All-Time High of 'Worrying', Says Vanguard

401(k) Hardship Withdrawals Hit an All-Time High of ‘Worrying’, Says Vanguard

Leave a Comment / Personal finance / By

Amid stubbornly high inflation, a record proportion of Americans are turning their 401(K) accounts into emergency piggy banks, according to Vanguard. Dissecting data from a sample of about five million employer-sponsored 401(k) accounts that Vanguard manages, the researchers said that 0.5% made hardship withdrawals in October. It’s a “worrying” all-time high, said retirement savings and …

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Reducing the Fed's balance sheet via quantitative tightening is "a total mistake", says Mizuho

Reducing the Fed’s balance sheet via quantitative tightening is “a total mistake”, says Mizuho

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The Federal Reserve’s attempt to shrink its balance sheet through so-called quantitative tightening, or QT, is “a complete mistake,” according to Mizuho’s chief U.S. economist. “There is a non-negligible likelihood that market liquidity will be adversely affected well before the $2 trillion target is reached, preventing the Fed from reaching its target,” said Steven Ricchiuto, …

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US oil hits lowest price of the year thanks to China as OPEC+ exit decision looms

US oil hits lowest price of the year thanks to China as OPEC+ exit decision looms

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Benchmark oil futures in the United States touched their lowest price of 2022 on Monday, briefly erasing what had been a sizable gain since the start of the year as China’s zero COVID policy was is wreaking havoc on energy demand expectations. The price move came less than a week ahead of a Dec. 4 …

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'Dazzled by the money': Democratic ties to Sam Bankman-Fried under scrutiny after FTX collapse

‘Dazzled by the money’: Democratic ties to Sam Bankman-Fried under scrutiny after FTX collapse

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The fall of Sam Bankman-Fried dealt an unprecedented blow to the reputation of the crypto industry – and some of that infamy may rub off on the politicians who took his money, as well as former regulators and employees. of Capitol Hill who took high-paying jobs representing digital asset companies before Congress. Bankman-Fried, founder and …

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