Tuesday, April 30, 2024

All eyes are on the Fed

Also: Annuities, reconsidered ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Tue Apr 30 2024

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

The Federal Reserve meets this week for the first time since recent high inflation readings dampened hopes that the central bank will lower interest rates three times this year, Paul Davidson reports.

The prospect of three rate cuts had juiced the stock market and led analysts to boost their 2024 economic growth forecasts.

Why don't more people buy annuities?

Annuities are an essential component of the American retirement system, starting with Social Security. Why, then, do so few Americans understand them?

Most of us, it seems, are pretty much clueless about annuities. In one recent study, the American College of Financial Services gave older Americans a score of 12% out of a possible 100% for their knowledge, based on their performance on a short quiz.

Only about 10% of Americans own commercial annuities. It would be great, many retirement scholars say, if a lot more of us bought them.

📰 More stories you shouldn't miss 📰

Massive legal settlement over CPAP machine recall
Wireless carriers fined for sharing customer data
Ford's "hands-free" system under scrutiny
Williams-Sonoma fined for false "made in USA" claims
The best cities for starting a business

🍔 Today's Menu 🍔

Panera has made its signature bread bowl into a fashion statement. And not a quiet one.

The bakery company launched a limited-edition "Bread Head" hat on Monday, Anthony Robledo reports. The cap combines a 3D-printed bread bowl replica with vibrant ostrich feathers and a gold spoon.

As one commenter observed, the hat "kind of looks like a bird tried to make a nest out of stale leftovers."

The hats, priced at $21 apiece, sold out in a single day.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Daniel de Visé covers personal finance for USA Today.

Federal Reserve Chairman Jerome Powell speaks during a press conference regarding the Federal Reserve's decision to not change interest rates on Jan. 31, 2024.

The Federal Reserve meets for the first time since recent high inflation reports dampened hopes it would cut interest rates three times this year.

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Only 10% of Americans buy annuities. Experts say that's way too low

Annuities are an essential component of the American retirement system. But few of us even understand them, let alone buy them.

Panera launched its limited-edition "Bread Head" hat, which features a 3D-printed bread bowl replica and vibrant ostrich feathers, on Monday April 29, 2024.
 

Panera's $21 bread bowl hat sells out day of launch

Panera launched a limited-edition "Bread Head" hat for $21 that came with a $100 gift card before it sold out on Monday.

Under an settlement agreement with the FDA and Justice Department, Philips will not be able to sell its breathing devices and ventilators used to treat sleep apnea until it meets a number of safety regulations.
 

Philips agrees to $1.1 billion settlement over recalled sleep apnea machines

The settlement comes after a yearslong legal battle concerning 15 million recalled DreamStation CPAP and other respiration machines.

Ford's electric Mustang Mach-E was the best-selling vehicle in Norway in May. The Tesla Model 3 was sixth.
 

Feds open investigation into Ford's hands-free driving tech BlueCruise

Ford's BlueCruise hands-free technology is under investigation following fatal crashes, the NHTSA announced.

A view of a Williams-Sonoma store in 2022 in Corte Madera, California. The San Francisco-based home furnishing retailer is facing a $3.18 million fine for falsely labeling some goods as "Made in America," according to the Federal Trade Commission.
 

Williams-Sonoma fined $3.2 million for false 'Made in USA' claims

Williams-Sonoma is facing a costly penalty for falsely claiming that some mattress pads and other products were "Made in the USA," the FTC announced.

Signage is seen in August 2020 at the headquarters of the Federal Communications Commission in Washington, D.C.
 

Verizon, AT&T among wireless carriers fined nearly $200 million by FCC

Verizon, AT&T, T-Mobile and Sprint have been fined a collective $200 million for sharing customers' location data without their consent.

Over 80,000 pounds of ready-to-eat sliced prosciutto ham product made by a German manufacturer has been recalled by a New Jersey-based firm for not being checked properly.
 

Nearly 100,000 pounds of deli meet recalled, multiple states impacted

Over 80,000 pounds of Stockmeyer Prosciutto has been recalled because it was exported from Germany without a proper inspection, according to the USDA.

A Delta Air Lines Boeing 767 arrives from Dublin at JFK International Airport in New York on Feb. 7, 2024.
 

What happened when an emergency slide 'separated' from a Delta plane

A Delta Air Lines flight from New York to Los Angeles returns to JFK when the emergency slide "separated" from the aircraft shortly after takeoff.

A sign advertises an apartment for rent along a row of brownstone townhouses in the Fort Greene neighborhood on June 24, 2016 in the Brooklyn borough of New York City.
 

Buy or rent? If you want to live in big US metros, the answer's clear

If you can't afford to buy a home right now, let it go. Renting is more cost-effective now in all 50 of the largest U.S. metro areas, data shows.

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