The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Ridgewood NJ, the Federal Reserve has decided to maintain interest rates at 4.25%-4.5%, following a highly anticipated meeting. The decision comes as the economy faces ongoing trade tensions and financial uncertainty. However, the Fed reaffirmed its plan to cut rates twice this year, potentially lowering them to 3.75%-4.0% in the coming months.
Continue reading Federal Reserve Holds Interest Rates Steady Amid Economic Uncertainty
the staff of the Ridgewood blog
Ridgewood NJ, There is no doubt in people’s minds that COVID-19 caused economic uncertainty. It strained many Americans financially, but it also provided an opportunity for many to increase their 401k balances.
According to a report from LT Trust detailing the impact of COVID-19 on retirement savings, the average 401K balance increased by 30.8 percent nationally during 2020, and the average employee contribution increased by 6.12 percent. New Jersey saw in increase of 29.3% .
Continue reading 401K balances Grew in 2020 despite COVID Pandemic Pressures