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.

While Many Panicked, Japanese Day Trader Made $34 Million

While a lot of investors were hitting the panic button Monday, a Japanese day trader who’d made a big bet against the market timed the bottom almost perfectly and narrated a play-by-play of the trade to his 40,000 Twitter followers. He claims to have walked away with $34 million.

Markets

Jerusalem Economy Shares Surge as Jordache Owners Buy Stake

Shares in Jerusalem Economy Ltd., a Jerusalem-based developer of industrial and commercial buildings, surged the most in six years after the company said the Nakash family, owners of jeans maker Jordache Enterprises Inc., acquired a 39.6 percent stake.

Puerto Rico Delays Restructuring Plan Because of Tropical Storm

Puerto Rico said Governor Alejandro Garcia Padilla granted an extension for when advisers are scheduled to deliver a proposal to restructure the commonwealth’s $72 billion debt burden to Sept. 8 because government officials were focused in the past week on the possible impact of tropical storm Erika.

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

Are Global Markets in a Currency War?

Harvard's Gita Gopinath discusses the outlook for global currencies with Bloomberg's Brendan Greeley at the Jackson Hole economic symposium in Jackson Hole, Wyoming. (Source: Bloomberg)

Inflation Expectations Add to Fed Rate Hike Dilemma

James Rickards, portfolio manager at West Shore Group, discusses the Federal Reserve's inability to spark inflation and the cross-influence of markets and the Fed. He speaks on "Bloomberg Markets." (Source: Bloomberg)