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As anxiety mounts over the long-term solvency of the Social Security trust funds, a growing number of Americans are rushing to claim their benefits early out of fear that the program will run dry.However, personal finance expert Suze Orman warns that following this viral advice will lock retirees into a permanent financial penalty that cannot be undone."There’s been some chatter on social media lately about Social Security that I think […]

The race to succeed America's top banker is on.Sources inside JPMorgan Chase, the nation's top bank, say the elevation of two senior executives Doug Petno and Troy Rohrbaugh as co-presidents of the company, sets up a long-awaited horse race to succeed the voluble Jamie Dimon, its CEO for the past two-plus decades and widely regarded as the nation's top banker.As if to leave no doubt about his intentions, Dimon Thursday also announced that Marianne […]

The U.S. economy grew at a faster pace than expected in the first quarter, according to the Commerce Department's estimate.The Bureau of Economic Analysis (BEA) on Thursday released its final reading of first-quarter GDP, which showed the economy grew at an annualized rate of 2.1% in the three-month period including January, February and March. That figure was higher than the expectations of economists polled by LSEG, who had estimated 1.6% GDP growth in […]

The Federal Reserve's preferred inflation gauge rose in May as price pressures persist in the wake of the energy shock caused by the Iran war.The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index rose 0.4% on a monthly basis in May and is 4.1% higher than a year ago. The monthly figure came in slightly cooler than the expectations of economists polled by LSEG, who predicted a […]