Economy

NPR

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Senate Set To Confirm Controversial Fed Nominee In Vote This Week : NPR

Opponents questioned her views on monetary policy — which seem to shift depending on which party controls the White House — as well as her unorthodox support for the gold standard, a theory long discarded by mainstream economists.

In the aftermath of the 2008 global financial crisis, Shelton criticized the Fed for keeping interest rates low. But she changed course abruptly once President Trump was in office, backing his call for even lower interest rates.

Roth IRA – Wikipedia

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Roth IRA – Wikipedia

A Roth IRA is an individual retirement account (IRA) under United States law that is generally not taxed upon distribution, provided certain conditions are met. The principal difference between Roth IRAs and most other tax-advantaged retirement plans is that rather than granting a tax reduction for contributions to the retirement plan, qualified withdrawals from the Roth IRA plan are tax-free, and growth in the account is tax-free

NPR

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Why Automakers Are Raking In Blockbuster Profits Despite The Pandemic : NPR

The auto industry is roaring back far sooner than expected in the latest sign of the economy's two-track recovery.

Major auto manufacturers have been raking in money this past quarter as consumers who can afford it show unexpectedly strong appetite for expensive new vehicles.

Companies such as Ford, General Motors, Fiat Chrysler, Daimler and BMW reported impressive earnings in the period between July to September, surpassing their pre-pandemic performance in many key metrics. Honda and Toyota raised their profit forecasts sharply.

Follow-the-Leader Pricing Definition

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Follow-the-Leader Pricing Definition

Follow-the-leader pricing is a competitive pricing strategy where a business matches the prices and services of the market leader. That is, a company will follow the pricing of the largest player in the industry. For example, when the market leader lowers the price of its goods, the company will lower its price to the same level.

Biden calls for 401(k) tax break overhaul. What it means for you

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Biden calls for 401(k) tax break overhaul. What it means for you

For instance, let’s say you’re making $100,000, and you’re single, which means you’re in the 24% tax bracket. If you commit to putting away $10,000 a year – 10% of your pay -- into your 401(k), you’re reaping about $2,400 in tax savings.

WATCH NOW VIDEO05:41 Here’s what Biden’s tax plan could mean for investors In comparison, a single filer making $40,000 and saving 10% of his pay -- $4,000 – into a 401(k) would only reap about $480 in tax savings. That’s because he’s in the 12% tax bracket.

To equally incentivize savers regardless of what they earn, Biden proposes a credit of approximately 26% to replace the deduction savers get for putting money in a 401(k) plan, according to the Tax Policy Center’s analysis.