Personal Finance

Your Money in the News

Fischer Praises Economy, Straddles FOMC Liftoff Date Camps

Federal Reserve Vice Chairman Stanley Fischer left open the option of an interest-rate increase next month, walking a line between officials who want to delay due to market turmoil and those who say the economy is strong enough to handle a move.

Markets

Calstrs May Move 12% of Its Portfolio Into Lower-Risk Assets

The California State Teachers’ Retirement System, the second-largest U.S. pension fund, may move as much as 12 percent of its portfolio into comparatively safer global stocks, infrastructure and Treasuries, according to documents being reviewed by its investment committee Wednesday.

Winton, Cantab Decline in August as Stocks’ Slump Hurts Quants

Winton Capital Management, David Harding’s $31.4 billion hedge fund firm, and Cantab Capital Partners, co-founded by the former head of Goldman Sachs Group Inc. quantitative strategies Ewan Kirk, posted losses last month as the stock market turmoil hit computer-driven investors.

Retirement

How to Find -- and Afford -- Your Second Act

Stat

$5.7 billion

The Internal Revenue Service collected about that much in 2011 from penalties for early withdrawals from 401(k) retirement savings accounts

Videos: In The Money

Will FED "Jell" on September Liftoff?

JP Morgan Chief U.S. Economist Michael Feroli discusses the Federal Reserve’s rate hike probability with Bloomberg's Alix Steel and Scarlet Fu on "What'd You Miss?" (Source: Bloomberg)

Bill Gross Says Fed Has Waited Too Long to Raise Rates

Bill Gross said the Federal Reserve has waited so long to raise interest rates that any move now may be labeled “too little too late” as market turmoil restricts the room for policy makers to act. Bloomberg's Mary Childs has more on "Bloomberg Markets." (Source: Bloomberg)