Author: Daniel snow

U.S. House Speaker Mike Johnson (R-LA) speaks to a reporter, as he leaves for a meeting at the White House on the budget, on the day of the House Rules Committee’s hearing on U.S. President Donald Trump’s plan for extensive tax cuts, on Capitol Hill, in Washington, D.C., U.S., May 21, 2025. Nathan Howard | ReutersHouse Speaker Mike Johnson on Sunday hailed the passage of the “big, beautiful bill” as the “largest cut in spending in at least 30 years, and arguably of all time,” while dismissing concerns that the package will raise federal deficits.A recent analysis from the nonpartisan…

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Even as more Americans tap, swipe or scan to pay, most still carry at least a little cash — and financial planners say that’s a good idea.Americans keep $67 in their wallet, on average, according to a recent Federal Reserve survey on how people use their money. While cash remains widely carried, usage has been slipping: in 2024, 83% of consumers said they used it at least once in the past 30 days — down from 87% in 2023, according to the Federal Reserve. Still, financial planners tell CNBC Make It that it’s worth keeping some on hand — particularly…

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Largely due to President Donald Trump’s changing tariff policies, markets have been on a rollercoaster ride since April. Although the S&P 500 has largely rebounded from last month’s lows, some families who have been diligently saving for future college costs may still see their 529 college savings plan balance hasn’t fully recovered.For those with tuition bills now coming due, there are a few key considerations before tapping those accounts.”With a little planning, making withdrawals can be something to celebrate, not just something to fear,” said Smitha Walling, Head of Vanguard’s Education Savings Group.More from FA Playbook:Here’s a look at other stories impacting…

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Warren Buffett is stepping down as CEO of Berkshire Hathaway at the end of this year — but he may not actually stop working.Instead of sitting at home, the 94-year-old plans to spend his post-CEO days regularly going into Berkshire Hathaway’s Omaha, Nebraska, headquarters to keep contributing his investment ideas and decision-making skills, he told the Wall Street Journal on May 14.”I’m not going to sit at home and watch soap operas,” said Buffett. “My interests are still the same.”‘Before Berkshire Hathaway’s most recent annual shareholders’ meeting, on May 3, Buffett hadn’t publicly announced plans to retire. Internally, he’d decided…

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