Lucigerma | Istock | Getty Images Predictions that a recession may be looming for the U.S. economy have so far not come to fruition. Now, some experts are backing off the prediction altogether, including Federal Reserve staff economists. “What’s out: Mild recession,” states new economic research released by Bank of America this week. “What’s in:
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Jgi/tom Grill | Tetra Images | Getty Images Some states are reestablishing a federal pandemic-era policy that offered free school meals to all kids, and most of them are doing so on a permanent basis. Before the Covid-19 pandemic, students qualified for free or reduced-price school breakfasts and lunches based on their income. The federal
Darya Komarova | Moment | Getty Images TikTok users are getting a look at their future selves, thanks to a new “aged” filter that’s gone viral on the social media platform. The filter gives users a hyper-realistic visual by mimicking skin and facial changes that happen with age. “This is wildly realistic!” exclaimed one user
Nopphon Pattanasri | Istock | Getty Images A cashless society is nearly within reach. After years of reluctance, Americans finally abandoned paper currency during the pandemic in favor of “tap and go” transactions and have now almost entirely embraced contactless and digital payment methods. Cashless payment volumes are only expected to increase going forward, according to a recent
Courtney Keating | E+ | Getty Images While scrolling social media, you may find a video of President Joe Biden urging you to sign up for extra Social Security benefits for which you are eligible. While the hypothetical video may seem real, the promise of extra benefits is not. It’s one example of the ways
Valentinrussanov | E+ | Getty Images The IRS has unveiled plans to offer digital correspondence for the 2024 tax season, building on the agency’s decade-long overhaul of improved service, technology and compliance. By 2025, the agency aims to achieve “paperless processing” for tax returns and so-called information returns, used by employers and financial institutions. related
President Joe Biden speaks at the White House on June 30, 2023. Bloomberg | Bloomberg | Getty Images After the Supreme Court struck down President Joe Biden’s original student loan forgiveness plan, Biden said he would pursue a new path to deliver relief to holders of federal educational debt. This second attempt may leave more
Luis Alvarez | Digitalvision | Getty Images The job market is cooling. Though it remains strong — and workers still have leverage — their power doesn’t seem to be as broad-based as it was earlier in the pandemic, say labor experts. These days, whether employees still enjoy considerable leverage — to find a new job
Downtown Los Angeles. TheCrimsonRibbon | Getty Images Americans are feeling the pinch from the high cost of single-family rentals, despite only slight year-over-year growth, according to a new report. Rental prices shot up during the pandemic. They are likely to remain high, with many Americans hesitant to purchase new homes amid soaring mortgage interest rates,
Bob and Terri Wood, of Mobile, Alabama, with their grandson. Courtesy: Bob Wood Bob Wood, 66, has been thinking of selling his home in Mobile, Alabama. The finance professor and his wife, Terri, purchased the 5,000-square foot house with a pool nearly a decade ago. “It’s probably time to downsize,” he said. They would also