Author: News Room

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Generations of American teens have taken the SAT, a blood-pressure-raising multi-hour exam they are told could make or break their academic futures. The longest-enduring standardized college admissions test in the nation, the SAT has faced decades of controversy over bias and criticism for reducing aspiring college students to a test score. It has also been denounced as part of the high barrier to entry into the so-called American meritocracy. During the COVID-19 pandemic, when dozens of the most prestigious universities in the nation suspended their standardized testing requirement, some were hopeful of a new era of more equitable college admissions.…

At law school, we learned about “proximate cause,” one of the few valuable concepts you can take from three years of drudgery. It’s about who and what caused the injury and who pays for it.The current stock market lends itself to proximate causes, as in, “We have to find a cause for the pronounced downturn that could lead tech, and more specifically, Super Micro, down the rabbit hole.” If you can figure out the proximate cause of a 23% decline in the heretofore best-performing stock in the S&P 500 this year, you might be able to come to grips with…

The Dubai flooding last week illustrated how urban engineering is failing a major climate change test. In a world marked by the increasing possibility of extreme weather events, no matter how big and modern expanding urban environments around the globe get, they don’t have enough places for all the water to go when there’s too much of it. The United Arab Emirates’ city and others like it built on previously uninhabitable areas reflect 20th century urban development ideas that result in the blocking of natural water absorption systems. Add increased populations, bringing with them more waste — and more need for…

College tuition is on the rise, living costs are high and the future is uncertain. Combine that with the pressure to secure your child’s financial future, and it may sound intimidating. However, a few expert-approved moves can help pave the path for their success.”It’s important for parents to save what they can, when they can,” Tony Durkan, a vice president and head of 529 relationship management at Fidelity Investments, told Fox News Digital.  Durkan said 529 savings accounts are a “flexible, tax-advantaged” way to save specifically for education, including room and board expenses, tuition, apprenticeship costs, student loan repayments and…

President Biden’s latest plan to cancel student loan debt for millions of borrowers will cost taxpayers far more than its official price tag, and it could reach as high as three-quarters of a trillion dollars, according to a new report. The administration’s proposal, announced last week, replaces the White House’s previous attempt to deliver broad student loan forgiveness, which was struck down by the Supreme Court. The Department of Education (DOE) estimates that the new plan, which would cancel student debt for up to 30 million borrowers, will cost around $150 billion over a decade. However, the Committee for a…

The Federal Reserve is anticipated to slash interest rates this year ahead of Election Day, which will likely lead to a superficial boost to Americans feeling wealthier ahead of casting their votes, though the cuts would have detrimental effects in the long run, experts say.  “I think superficial is exactly the key because one of the things that happens when you cut interest rates is that you do get a temporary boost to the economy driven by an ease of access in terms of debt. So a lot of Americans right now, they can’t afford today’s punishingly high home prices,…

You might be understandably worried by scary headlines that project the Social Security Trust Funds will be exhausted in the year 2034. Having accurate information is one of the best ways to deal with worry, so let’s look at what could happen if the Trust Funds run out. Is It Possible That Social Security Funds Could Run Out? Under current law, there’s no way that Social Security could completely run out of money. The reason is that workers are continually paying FICA taxes into the system. As long as people continue to work and pay their taxes, Social Security will…

Secretary of State Antony Blinken will travel to China in the coming week as the Biden administration tries to ensure that the US-China relationship stays the course, even as the US expresses strong concerns about China’s support for Russia. This is Blinken’s second trip to the country as top US diplomat. He visited last year in an effort to “stabilize” relations following a period of immense tension between Washington and Beijing after an American fighter plane shot down a Chinese surveillance balloon that was detected over sensitive US military sites. President Joe Biden spoke on the phone with Xi earlier…

Stay informed with free updatesSimply sign up to the US-China relations myFT Digest — delivered directly to your inbox.US secretary of state Antony Blinken will warn China that Washington will take punitive steps unless Beijing stops sending weapons-related technology to Russia.During a visit to China next week, Blinken will tell his counterparts that the US and its allies are becoming increasingly impatient with Beijing’s refusal to stop providing Moscow with everything from chips to cruise missile engines to help rebuild its industrial base.Blinken does not plan to reveal what measures the US will take, but several people familiar with the…