It’s Flag Day everyone, and also happens to be National Bourbon Day. Before you celebrate one or both of them, take a moment to catch up on today’s top financial stories. Cheers.
By Gary Dudak
The Big Lead: How To Navigate Your Portfolio in a Bear Market
The bear market has officially arrived, and the main question now is how to deal with it to protect yourself financially. Four investing experts weigh in.
Read the full story here
Economy Spotlight: Possible ‘Volcker Moment’ Coming
The Fed’s Federal Open Market Committee is meeting today and June 15, and investors are bracing themselves for a potentially faster and steeper rate hike, as inflation data was worse than expected — hitting 8.6% in May.
More From Your Money: Choose a high-interest saving, checking, CD, or investing account from our list of top banks to start saving today.
That’s Concerning: Rent Prices Continue To Rise
Consumer Price Index (CPI) data showed that a key essential, shelter, increased in cost by 5.5% over the past year, the largest 12-month increase for that category since the period ending Feb. 1991. According to experts, rent increases are not likely to slow down soon either.
Bonus: IRS Expands Deduction for Fuel Costs
You’d need a Hubble Space Telescope to spot the silver lining in today’s gasoline prices — they pushed above $5 a gallon this week for the first time ever — but the IRS did offer at least one tiny bit of good news recently: You can now increase your tax write-off for fuel costs.
ICYMI: Yesterday’s GO in the Know
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