Gold & Silver Investment News & Trends

News and Trends

401(k) ‘hardship’ withdrawals hit record high, Vanguard says — another sign households feel the pinch of inflation- CNBC--12.8.22
About 0.5% of workers participating in a 401(k) plan took a "hardship distribution" in October. While it is a relatively small percentage, it's the largest share on record dating to 2004, according to Vanguard Group.

Financial resolutions more conservative for 2023: Fidelity- Fox Business--12.8.22
Americans are planning their financial goals for 2023 with a more conservative approach than in years past. According to a new study, savers and would-be savers alike are less than optimistic as they look to the year ahead.

Many Americans believe inflation, the economy won’t improve in 2023: poll — Here's how to manage your finances- Fox Business--12.7.22
Many Americans fear the economy and their finances won't improve in 2023, according to a recent poll. Currently, four in five of Americans believe inflation is a crisis and 62% say they expect the costs of everyday goods will be higher in 2023.

‘There is a slowdown happening’ – Wells Fargo, BofA CEOs point to cooling consumer amid Fed hikes- CNBC--12.7.22
American consumers are slowing down on spending as the Fed's interest rate increases reverberate throughout the economy, according to the CEOs of two of the largest American banks.

World Economy Heads for One of Its Worst Years in Three Decades- Bloomberg--12.6.22
The world economy is facing one of its worst years in three decades. In a recent analysis, the forecasted growth in 2023 is just 2.4%. That is down from an estimated 3.2% this year and the lowest since 1993.

Jamie Dimon says inflation eroding consumer wealth may cause recession next year- CNBC--12.6.22
Consumers have $1.5 trillion in excess savings from pandemic stimulus programs but are spending 10% more than in 2021. One expert says that excess savings will run out sometime mid-year next year.

Debt ceiling bomb nears as government spending balloons- Fox Business--12.5.22
The federal government is closing in on the congressionally mandated limit on how much money it can borrow. Soon it will be forced to undertake a series of money managing techniques to avoid exceeding the debt ceiling until Congress raises.

This long-time bear warns of a ‘trapdoor’ situation looming for the stock market. - Market Watch--12.5.22
Uncertainty is lingering for investors following a recent mixed batch of data. One expert says investors are facing a "trap door" type situation with stocks right now. The expert claims he is finding it hard to get constructive on "overvalued markets with ragged and divergent internals."

More Americans Leave the Workforce as Participation Rate Drops Again- MSN--12.2.22
The U.S. labor force participation rate fell for a third straight month in November, underscoring businesses' ongoing struggle to find enough workers. The drop in participation is bad news for Fed officials, who have been aggressively raising rates as they try to tame inflation.

‘This is a crisis.’ Why more workers need access to retirement savings- CNBC--12.2.22
A comfortable retirement may be unattainable for many Americans due to a lack of adequate savings. The problem starts with not having access to a retirement plan at work, experts say. As many as 57 million Americans lack access to a workplace retirement savings plan.

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