Powell: Fed’s independence from politics is vital to its interest rate decisions
By CHRISTOPHER RUGABER, Associated Press
WASHINGTON (AP) — Chair Jerome Powell said Wednesday that the Federal Reserve’s ability to set interest rates free of political interference is necessary for it to make decisions to serve “all Americans” rather than a political party or a specific outcome.
Speaking at at New York Times’ DealBook summit, Powell spoke in response to a question about President-elect Donald Trump’s numerous public criticisms of the Fed and of Powell himself.
“We’re supposed to achieve maximum employment and price stability for the benefit of all Americans and keep out of politics completely,” Powell said.
Don’t overdo it: Here’s what not to fix when selling a house
Mia Taylor | (TNS) Bankrate.com
Before putting your home on the market, it’s important to make it look its best for prospective buyers. Getting a home in show-ready shape might involve decluttering the interiors, sprucing up the curb appeal and investing in key repairs around the residence.
But don’t get carried away. Pouring too much money into the home can be a losing investment: It won’t substantially improve your sale price, leaving you out-of-pocket for unnecessary expenses. So it’s important to know where to draw the line. Here are some of the things homeowners need not fix when listing a home for sale.
Why you don’t need to fix everything
As a general rule, it’s a good idea to focus on fixing items that may impact your home’s sale price. Beyond that, money spent on repairs and replacements may be wasted, as prospective buyers may not find the improvements necessary or even notice the work was done at all.
In addition, most major renovation projects do not recoup the money you spend on them at resale. “Many times a major kitchen renovation or room addition won’t give you the return on investment that you might expect,” says Jade Lee Duffy, a Realtor with Epique in San Diego, California. For example, spending thousands of dollars on fancy new kitchen tiles can backfire: Buyers have their own taste and don’t want to end up paying for new tile that they don’t like. Projects like extensive landscaping, high-end fixtures and new pools typically do not offer a dollar-for-dollar return either, she says.
3 ways to earn an extra $500 for the holidays
By Tommy Tindall, NerdWallet
The holiday season can add up. On average, shoppers are expected to spend a record $902 per person on holiday purchases this year, according to the National Retail Federation. Holiday expenses include gifts, food, decorations and other seasonal items.
It’s important to set a reasonable budget for holiday spending. If you’re worried extra expenses will exceed your income, it might be time to cut back. Alternatively, you can try to find a side gig that’ll net you an extra 500 bucks.
Here are some ways to make extra money.
1. Work as a seasonal sales associate
An influx of consumer spending means retail stores need help this time of year. If you have the time, energy and interest, you can seek a gig as a seasonal sales associate. It’s a part-time job, but you can still call it a side hustle, especially if your main hustle is going to school, taking care of the family or working a full-time job.
At the time of this writing, we found lots of openings nationwide. One example is a seasonal sales associate with Burlington Stores in Brooklyn, New York. It’s posted as part-time, seasonal work that pays $16 per hour. We also spotted an opportunity to work at a Levi Strauss & Co store in Seattle, Washington for up to $21 per hour.
Australia is banning social media for people under 16. Could this work elsewhere — or even there?
By BARBARA ORTUTAY, AP Technology Writer
It is an ambitious social experiment of our moment in history — one that experts say could accomplish something that parents, schools and other governments have attempted with varying degrees of success: keeping kids off social media until they turn 16.
Australia’s new law, approved by its Parliament last week, is an attempt to swim against many tides of modern life — formidable forces like technology, marketing, globalization and, of course, the iron will of a teenager. And like efforts of the past to protect kids from things that parents believe they’re not ready for, the nation’s move is both ambitious and not exactly simple, particularly in a world where young people are often shaped, defined and judged by the online company they keep.
The ban won’t go into effect for another year. But how will Australia be able to enforce it? That’s not clear, nor will it be easy. TikTok, Snapchat and Instagram have become so ingrained in young people’s lives that going cold turkey will be difficult.
Orange tourist tax receipts drift higher in October
Orange County’s tourist-tax collections drifted slightly higher in October, the county announced Wednesday, totaling nearly $30 million.
That figure is up 0.6 percent or $68,100 from October 2023, though down $1.9 million from the October record, set during the pandemic bounceback year of 2022.
October is the first month of the county’s fiscal year. Orange County set an all-time record for Tourist Development Tax, or TDT, collections of about $360 million in the prior year. The funds come from a 6% surcharge added to the cost of a hotel room or other short-term lodging.
Because of its healthy tourism industry, Orange County enjoys a huge flow of hotel tax dollars, which by law it must spend on projects and programs to support the tourism industry. The county has been able to fund sports and entertainment facilities including Camping World Stadium and Kia Center with those dollars. A large portion also goes to Visit Orlando, the marketing agency for the region’s tourism agency, and to the county’s convention center.