The Wealth Recap

This week: the new Trump Accounts for children officially launched over the July Fourth holiday, and we walk through what they are, how the money is taxed, and where they might fit alongside 529 plans and other savings vehicles. Then we look at the U.S. dollar, which has fully reversed a weak start to the year, and explain why currency movement can reach places you might not expect — including fun...

This is a holiday-shortened week, so ahead of Independence Day we take a slower look at four everyday financial systems most people deal with but rarely get explained. In this episode: 1. The hidden cost in how mortgages are priced — why identical borrowers get different rates, and why shopping around matters. 2. Where inflation actually comes from, and how we measure it — the AI data-center build...

Some weeks the headlines do the talking. This week, we look instead at four systems that quietly shape financial life — and what each one looks like once you understand how it works:   • Medical pricing — why the same procedure can carry very different prices depending on where and how it is billed, and what gives a patient leverage over the final number. • Retirement spending — new research sugge...

This week on The Wealth Recap: a strong May jobs report, inflation crossing 4 percent, and what the two together may mean for the path of interest rates, including why a headline above 4 percent does not necessarily mean price pressures are broad-based. Then, a closer look at the 2026 Social Security Trustees Report and what "depletion" actually means, including why scheduled benefits would not fa...

This week: Credit card delinquencies have reached their highest level since the financial crisis, with $1.25 trillion in total balances and average rates at 21%, and we explain how compound interest can work against borrowers. Americans are saving more for retirement than ever before, but the gap between who has access to a plan and who does not reveals a significant divide. The World Cup kicks of...

This week: Kevin Warsh was sworn in as the new Federal Reserve Chair, and we explain what he means by a "reform-oriented" Fed and why the balance sheet may matter as much as interest rates. A key measure of expected stock returns versus bond yields has shrunk to its narrowest level since the dot-com era, and we explain the equity risk premium. SpaceX filed to go public at a valuation approaching $...

This week: Bond yields hit levels not seen since before the 2008 financial crisis, with the 30-year Treasury reaching 5.2% and the 10-year at 4.68%, and we explain what that means for borrowing, saving, and the broader economy. President Trump called off a planned military strike on Iran on Monday, citing serious negotiations, and oil prices moved within minutes. Business schools are cutting MBA t...

This week: A new inflation report shows consumer prices rose 3.8% over the past year, the highest rate since May 2023, with grocery prices posting their largest monthly increase since August 2022. The Federal Reserve cut rates three times last year, but mortgage rates have barely moved, and we explain why. President Trump traveled to Beijing this week for a state visit with President Xi, and we lo...

This week: The government's first look at Q1 GDP shows the economy grew 2%, but AI-related investment did much of the heavy lifting while consumer spending on dining and everyday goods pulled back. The Wall Street Journal reports on the Great Wealth Transfer, an estimated $124 trillion set to change hands by 2048, and we explain what that actually looks like for many families. The U.S. pauses Proj...

This week: The UAE quits OPEC after nearly 60 years, and we explain what OPEC is and why it matters for gas prices. Consumer confidence hits its lowest level since 1978, even as stocks sit near all-time highs. The Federal Reserve holds rates steady in its most divided vote in over 30 years. And the world's most valuable AI company misses its own growth targets, which tells us something important a...