@emmarkerr

U.S. Editor, @nudgeglobal. Past: @usnews, @thedailybeast, @chronicle. Alum: @michigandaily. Views do not reflect my employer, not investment advice.

 Michigan
linkedin.com/in/emma-kerr/
Joined January 2014
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99Media
Answering some reader email and want to reiterate as the extension due date draws near, there is no Covid exception to the home office deduction rule. If you're an employee, your home office expenses aren't deductible on your 1040 even if you were required to work from home. #tax
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My two cents on #inflation, knowing when you're on track financially and how I became "the funny Aunt Jill who will tell you what you’re screwing up, but not be mean about it." @usnews @emmarkerr money.usnews.com/money/perso…

Q&A: Jill Schlesinger on This Extraordinary Economic Moment

Schlesinger talks inflation, knowing when you're on track financially and how she became "the funny Aunt Jill who will tell you what you’re screwing up, but not be mean about it."

money.usnews.com
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Adjustable-rate mortgages are making another comeback as 30-year fixed mortgage rates eclipse 6% For the past two weeks, nearly 1 in 10 of all mortgage applications have been for ARMs Data: @MBAMortgage
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I think it might be simpler for the IRS just to tell us which notices they are sending aren't in error. #TaxTwitter
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29 days straight of declining #gasprices! We’re now down 40c/gal from the peak with Americans spending $150 million LESS on gasoline today alone vs June 14. National average $4.634/gal with over 10,000 stations at $3.99 or less. We will fall under $4.60 by the weekend.
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*Big* headline inflation number: 9.1% It’s more than the 8.8% economists expected. Highest since 1981.
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As of this morning, the Fed Futures are now pricing in a 100% chance of at least a 75 basis points hike on July 27 and a 30% chance rates rise by 100 basis points.
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"Real wages fell 2.8% over the last 12 months. That is a larger decline than any pre-pandemic year in the last forty years."
Jason Furman
@jasonfurman12 Apr 2022
Replying to @jasonfurman
Finally what does this mean? Real wages fell 2.8% over the last 12 months. That is a larger decline than any pre-pandemic year in the last forty years. (Note, I'm using private wages since 2006 since those are the better data source but to go back earlier need to switch to PNS.)
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Some data reports tell you a lot about the world, affirm trends, etc. No matter how you cut it, today's CPI was not one of those. (1/) nytimes.com/live/2022/04/12/…

CPI Report for March 2022 Puts Inflation at 8.5% (Published 2022)

nytimes.com
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Year-over-year headline inflation rose by 8.5 percent, the fastest since 1981. Core inflation rose by 6.5 percent, the fastest since 1982. 7/
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This article seems like a W for millennials. It's not. Here's the caveat: Millennials with *boomer parents who GIFT them down payments* are the ones able to buy homes. nbcnews.com/business/consume…

Millennials make up the largest share of homebuyers in America, according to recent data

And when it comes to down payments, they have a secret weapon.

nbcnews.com
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Fed gov Chris Waller on CNBC: The data was screaming at us to raise rates by 50 bps but the geopolitical situation led me to support the 25 bps move. We might need to do 50 bps at the next couple meetings.
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Two years ago *today,* the Fed slashed interest rates to zero at an emergency meeting. Seems only fitting that tomorrow will likely bring the Fed's first rate hike since 2018 — and the first of many more to come. Our preview, via @Bankrate: bankrate.com/banking/federal…
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"While Black applicants had lower approval rates than White ones at all major lenders, the data show, Wells Fargo had the biggest disparity and was alone in rejecting more Black homeowners than it accepted." bloomberg.com/graphics/2022-…
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Story on web: bloomberg.com/news/articles/…
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SCOOP on @TheTerminal now. Treasury in a letter sent to a group of senators today signals that it plans to spare crypto miners and stakers, as well as hardware and software providers, from forthcoming broker reporting rules.
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I thought yay. The Fed is about to raise interest rates. My savings account might return some real money. Apparently not. By @Orla_McCaffrey wsj.com/articles/dont-expect…

Don’t Expect Rising Interest Rates to Boost Your Savings Account

Banks are unlikely to pay depositors more after the Federal Reserve first lifts rates because the lenders don’t need the money.

wsj.com
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Important story from @adamcancryn on what child tax credits expiring has meant for families trying to get by: politico.com/news/2022/01/27… Whatever you think of the policy, important to remember millions of Americans simply cant financially survive a car breakdown or surprise bill.

Biden’s signature legislation expired. Recipients are wondering: WTF happened?

politico.com
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This year in crypto... In November, the crypto market reached an all-time high of $3 trillion in total value. Bitcoin hit a record high of more than $68,000 and is up more than 100% for the year. Crypto has become one of the best performing assets in 2021.
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Whether you’re a master at managing money or someone who shivers at the word “budget,” here’s some advice to make the end of the year a bit more manageable. thelily.com/stressed-about-m…

Stressed about money during the holidays? We’ve got tips to help.

A lot of the holiday magic-making stress falls on women, which can lead to overspending.

washingtonpost.com
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