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The Week in Review
• On Wednesday the Federal Reserve said it would expedite the taper of asset purchases. The central bank also said it expects three rate hikes next year, which members hope will help rein in runaway inflation. The more aggressive stance comes as the Fed is attempting to control the highest inflation level since 1982.
• Traders were also continuing to digest comments surrounding the new Omicron COVID-19 variant. Wall Street is trying to determine the economic impact if restrictions were to snap back in place.
• On the economic front, retail sales for November were lackluster. For the month, they only rose 0.3% which was much lower than economist expectations of 0.8%.
For more economic news and how it affects your money, visit the SoFi app.
New Podcast Episode: The Current State of Real Estate
How do investing and entrepreneurship go hand in hand? Ryan Serhant, star of two-time Emmy-nominated Million Dollar Listing New York, explains why there has been a surge in people starting their own business, where the real estate market goes from here, and why your mindset is your greatest asset in investing and beyond.
Liz also offers her take on real estate at this point in the cycle and the major factors that will affect it in 2022. It’s all in this month’s new episode of The Important Part: Investing with Liz Young. Listen and subscribe on Spotify, or wherever you get your podcasts.
This Week’s Top Stories
The Federal Reserve made it official on Wednesday, announcing expedited plans to wind down its pandemic bond-buying program at a more aggressive pace.
This will be a bumpy path to and through tightening. But right now, Liz is betting on a successful transition. See what SoFi’s Head of Investment Strategy has to say about the last Fed statement of 2021.
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Reddit, the message board operator which has been around since 2005 but gained widespread popularity during the meme stock craze of early 2021, is gearing up to go public via an IPO.
The meme stock craze has made Reddit into a must-visit destination for retail investors. Reddit is hoping those investors will participate in its IPO.
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Federal student loan holders are not likely to get a reprieve on loan payments next year.
Despite pushes by some politicians, the moratorium on student loan payments looks set to expire at the end of January. That means millions of student loan holders will have to resume making monthly payments beginning on February 1. For many this will be the first student-loan related payment in two years.
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Deep Dives from SoFi Learn
Here are some simple strategies that can feel calmer and more in control of your money.
If you often feel worried about money, or you tend to wing it from one month to the next without much of a plan in place, you might benefit from taking a few steps to improve your financial health and habits.
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5 steps to switching your car insurance
Getting new car insurance can have big benefits, and it isn’t as hard as it may seem. Here’s a step-by-step guide on how to switch car insurance.
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Here’s your guide to paying for your child’s college
The two keys to creating and sustaining a plan to meet your child’s college education costs are: start early and be consistent. Here are some tips.
Read more >>
