Clark Biweekly 1 16 25

Author

Anthony Hazzard
January 16, 2025

It’s looking like the Fed will hold interest rates steady for the remainder of 2025. But what does this mean for you? Find out more later in this email. 

💵 Today’s Top Stories
Retirement

Some people are surprised to experience new challenges in retirement. Here’s what to expect and strategies to handle each of them. Read more.

Will

You know you need a will. But can you use a free or cheap online tool, or do you have to hire an attorney? Here’s Clark’s quick checklist to help you decide. Read more.

Lend Money

From taking advantage of the right savings account to applying for a great rewards credit card, here are some things you can do right now to “find” free money. Read more.

Car Payment

The average monthly payment for new and old cars are moving in opposite directions. Also, the number of people paying at least $1,000 each month is alarming. Read more.

Debt

Is your resolution to pay off debt in 2025? Follow these steps to become debt-free as fast as possible. Read more.

💻️ Tech Tip From Kim Komando

Talk to the hand: You can use Alexa without vocal controls or needing to touch the screen if you have an Echo Show. Open your Alexa app and tap More > Settings. Select Device Options and tap Gestures. Now, just lift your hand to stop a timer. Join 575K people who get tech smart with my friend Kim Komando’s free newsletter, The Current.

💹 Zero Interest Rate Cuts Now Looks Possible for 2025

Just a few months ago, the markets were predicting the Federal Reserve would cut interest rates four times in 2025.

However, the job market continues to be hotter than expected and inflation rose to 2.9% in December, according to the latest CPI number released yesterday.

That’s after Fed chairman Jerome Powell announced the Fed would be cautious about any further rate cuts after slashing another quarter-point before Christmas.

The Fed has long held 2.0% as the target inflation rate. But the U.S. hasn’t seen that number since a 1.7% print in February 2021.

After peaking at 9.1% in June 2022, a series of rate cuts helped cull it to 2.4% in September 2024. But the number has crept up a half-point since then.

Some reading the tea leaves believe there’s a good chance the Fed will hold interest rates steady at 4.25% to 4.50% (the current number) for the balance of 2025.

However, a 4.4% jump in gas prices contributed to the higher inflation number in December. So-called core inflation, which excludes volatile energy and food prices, came in below expectations yesterday.

📊 Stat of the Day

📈 21: Number of states that raised the minimum wage this month. Delaware (+$1.75) enacted the largest increase. A total of 48 cities and counties also raised the minimum wage. Florida and Oregon are expected to do the same later in 2025.

💰️ Deal Alert: Today’s Top Deals
Sam's Club warehouse
Costco
🎙️ Podcast

It’s January and bills from holiday spending are starting to arrive. Are you feeling a financial hangover? Clark has a simple, realistic plan you can follow to pay down debt in less than a year. Also, it’s easier than ever to file taxes for free! Clark explains who can file for free – and who needs to hire a professional. Plus, he has important advice on the method you should NOT select to receive your tax refund this year.

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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