Finance SPC
For 2025, the United States Government has announced a significant increase, extending the maximum SSI payment to $1,450 for couples, which represents relief for many low-income families.
Marking a shift in expectations, over 75% of economists, 24 of 31, in an Oct. 7-14 Reuters poll predicted the central bank would keep its benchmark seven-day reverse repurchase rate at 6.00% on Oct. 16.
Investing.com -- The Federal Reserve initiated its rate-cutting cycle in September, delivering an aggressive 50 basis-point (bp) reduction to policy rates.
For SSI recipients, this $288 increase in their annual payments, due to the COLA, represents a significant relief from the rising cost of living in areas such as housing, food and health care.
This includes bills that are physically damaged, marked, or come from older series that lack the updated security features now considered essential for safe transactions.
Social Security beneficiaries can access a number of additional programs and benefits to help them improve their financial situation.
John Williams, president of the New York Fed, remarked that the "very good" September jobs report signaled the continued strength of the U.S. economy, even as inflation eased after over a year of elevated rates.
"This year's wage increases were helping push up consumption with some firms pointing to the effect of solid spending by the younger generation, which enjoyed fairly big pay hikes," the BOJ said on Monday in a quarterly report on regional economies.
In the months of October, November and December the Social Security Administration will send out a large number of checks to citizens with an accepted benefit.
Each year’s COLA is a very important item for United States citizens who collect only one Social Security check.
He stated that the Revolutionary Guard is ready to repeat missile attacks with “multiplied intensity” and emphasized that while Iran avoided targeting civilians, it remains a feasible option, according to AP.
Banxico, as the Mexican central bank is known, lowered its key rate by 25 basis points to 10.50% on Thursday, the second straight cut as price pressures ease.