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Another rate cut? Here is what it means for your money

Another rate cut? Here is what it means for your money

By Lauren Young NEW YORK, Dec 10 (Reuters) - The U.S. Federal Reserve is ending 2025 with a bang, delivering another rate cut for consumers amid an uncertain year for the economy.  The Fed nudged interest rates lower by a quarter-percentage point on Wednesday, adding to two prior cuts in 2025.
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What the Federal Reserve rate cut means for you

What the Federal Reserve rate cut means for you

The Federal Reserve cut its benchmark interest rate by a quarter point Wednesday for the third time since September, bringing its key rate to about 3.6%, the lowest in nearly three years
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Global Wine Industry Faces Decline Amid Changing Tastes and Economic Challenges

Global Wine Industry Faces Decline Amid Changing Tastes and Economic Challenges

The global wine industry is experiencing a significant decline in demand due to a combination of changing consumer preferences, climatic conditions, health warnings, and economic factors. Historically, wine has been associated with elite society and major life events, but its popularity is waning. In France, a country renowned for its wine production, the government has intervened to support struggling producers and vineyards. The industry is also facing increased competition from the beer and spirits sectors, which are promoting alcohol-free and low-alcohol options. This situation has prompted discussions about the future viability of the wine industry.
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Record High in U.S. Searches for Bankruptcy Lawyers Amid Economic Concerns

Record High in U.S. Searches for Bankruptcy Lawyers Amid Economic Concerns

Google searches for 'bankruptcy lawyer' in the United States have reached unprecedented levels, reflecting growing financial distress among Americans. According to Google Trends data, these searches peaked in June and continued to rise through August, with a slight dip in September and October before increasing again in November. This surge in interest coincides with polling data indicating a rising probability of Americans being unable to meet minimum debt payments. The Federal Reserve Bank of New York's Survey of Consumer Expectations reported an increase in the average probability of missing debt payments, rising from 12.6% in September to 13.7% in November. Additionally, public sentiment about future financial well-being is declining, with only 4% of Americans believing they will be 'much better off' a year from now.
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VersaBank Declares Dividends Amidst Digital Banking Expansion

VersaBank Declares Dividends Amidst Digital Banking Expansion

VersaBank Declares Dividends Amidst Digital Banking Expansion
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GoFundMe Sees Surge in Campaigns for Basic Necessities Amid Economic Strain

GoFundMe Sees Surge in Campaigns for Basic Necessities Amid Economic Strain

GoFundMe has reported a significant increase in the number of campaigns launched to cover basic necessities such as housing and food. This trend is highlighted in the company's annual analysis, which notes a nearly sixfold rise in food-related fundraisers coinciding with a federal government shutdown that affected SNAP benefits and federal employees' paychecks. The platform has become a crucial tool for individuals facing financial hardships, with 2.5 donations made every second on average. The most generous day recorded was January 10, during the Los Angeles wildfires, when $265 million was raised for relief efforts.
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Older Americans Shift to Fixed Annuities Amid Market Volatility

Older Americans Shift to Fixed Annuities Amid Market Volatility

Older Americans Shift to Fixed Annuities Amid Market Volatility
Reuters Reuters
Divided Fed cuts rates as expected, but sees only one reduction in 2026

Divided Fed cuts rates as expected, but sees only one reduction in 2026

NEW YORK, Dec 10 (Reuters) - The Federal Reserve cut interest rates on Wednesday in another divided vote, but signaled it will likely pause further reductions in borrowing costs as officials look for clearer signals about the direction of the job market and inflation that "remains somewhat elevated.
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Investigation Reveals How Small Tolls Can Lead to Massive Debt

Investigation Reveals How Small Tolls Can Lead to Massive Debt

A CBS News New York investigation has uncovered how small toll charges can quickly escalate into significant debt for drivers. The 'Driven Into Debt' series highlights cases where drivers were unaware of accumulating toll charges until they received bills amounting to thousands of dollars. The investigation sheds light on the lack of transparency and communication in toll collection systems, which can lead to financial distress for unsuspecting drivers. The series aims to raise awareness about the potential pitfalls of toll systems and advocate for more consumer-friendly practices.
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U.S. Border Businesses Struggle Amid Decline in Canadian Tourism

U.S. Border Businesses Struggle Amid Decline in Canadian Tourism

U.S. businesses along the northern border are experiencing a significant decline in Canadian tourism, which has historically been a major source of revenue. According to a report by the Joint Economic Committee, the number of passenger vehicles crossing the U.S.-Canada border fell by nearly 20% from January to October 2025 compared to the same period in 2024. This decline is attributed to rising prices, a weaker Canadian dollar, and heightened political tensions, including tariffs and trade disputes initiated by President Trump. The reduction in Canadian visitors is impacting local economies, with fewer tourists leading to more hotel vacancies and weaker sales in border communities.
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President Trump Faces Record High Public Concern Over Financial Future

President Trump Faces Record High Public Concern Over Financial Future

A recent report from the Federal Reserve Bank of New York indicates that 38.97% of Americans believe they will be worse off financially next year, marking the highest percentage during President Trump's terms. This sentiment reflects an economy that, while technically growing, does not seem to be improving quickly enough for many households. Factors contributing to this outlook include ongoing inflation, new tariffs, and economic turbulence, which have led to increased costs for necessities and concerns over job security. The report also notes a slight improvement in unemployment expectations but highlights worsening perceptions of credit access.
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Realtor.com Analysis Predicts Sharp Home Price Declines in Select U.S. Cities by 2026

Realtor.com Analysis Predicts Sharp Home Price Declines in Select U.S. Cities by 2026

Realtor.com Analysis Predicts Sharp Home Price Declines in Select U.S. Cities by 2026