>>Fed Expected To Slow Rate Hike To Quarter-Point
(Washington, DC) -- The Federal Reserve is expected to raise interest rates by a quarter-percent today. That would be the smallest increase since the central bank started jacking up interest rates last March in its campaign to fight inflation. The Fed will release its latest rate decision at 2 pm Eastern Time and Chairman Jerome Powell will brief the media at 2:30.
>>More Americans Living Paycheck To Paycheck
(San Francisco, CA) -- More Americans are living paycheck to paycheck. A recent report from LendingClub showed 64-percent of Americans lived that way as of December. That's up from 61-percent a year earlier. It also revealed over half of those who make six-figures also said their finances are stretched thin. LendingClub's financial health officer told CNBC the record numbers for paycheck to paycheck living are due to the effects of inflation.
>>GM Paying Record $12,750 Profit Sharing Checks
(Detroit, MI) -- General Motors says hourly workers will receive record profit-sharing checks of up to nearly 13-grand. Before this check, the highest payout came in 2016 at 12-thousand-dollars per employee. GM pays employees one-thousand-dollars for every one-billion-dollars in North American pre-tax-profits. The checks will go out February 24th.
>>Survey: 79% Of Millennials, Gen Zers Get Financial Advice From Social Media
(New York, NY) -- The vast majority of millennials and Gen Zers get financial advice from social media. That's according to a new survey by Forbes Advisor. Nearly 80-percent of respondents said they've gotten advice about finances on social media before. Almost 70-percent said they see financial advice on social media once a week. Millennials tend to get financial information on Reddit while Gen Z favors YouTube.
>>ExxonMobil Posts Record High 2022 Profits
(Irving, TX) -- ExxonMobil is posting a 56-billion-dollar profit for 2022. That's setting not only a company record, but a historic high for the western oil industry. The company said it brought in close to 13-billion in profits just in the fourth quarter. The oil giant's Chief Financial Officer said "a combination of strong markets, strong throughput, strong production, and really good cost control" led to the increase in earnings.
