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7 ways to protect your money from potentially higher inflation and unemployment

Kraig Pakulski 0 22 Article rating: No rating

By Jeanne Sahadi, CNN

(CNN) — The Federal Reserve’s decision Wednesday to leave its key overnight lending rate unchanged for the second time this year was expected.

But in addition to a disappointing February jobs report and other data, the Fed had to consider a new factor creating economic uncertainty: the attacks on Iran by the US and Israel, which have increased geopolitical stability and world oil prices – all of which point to potentially higher inflation and increased job losses if the conflict – and its domino effects – are protracted.

The Fed’s rate pause —and expectations that it may not lower rates again any time soon – is a mixed bag for consumers when it comes to the interest rates they will find for their savings and debts, all of which are tied directly or indirectly to the Fed’s moves.

Broadly speaking, “prepare for a moderately higher inflationary environment in the short to medium term,” said Kelly Kowalski, head of investment strategy at MassMutual.

To help do that, maximize the rates you get on your savings – both to stay ahead of inflation and to bolster your own safety net. And keep interest costs on your debt as low as possible.

Your savings

For some of the highest-yielding, lowest-risk ways to earn money on your savings, consider:

1. Online high-yield savings accounts: Some of the top variable rates on offer this week at Bankrate ranged from 4% to 4.10% on Wednesday. If you’re looking to get a solid return at some of the biggest banks in the online space, the rates ranged between 3.2% and 3.65% as of March 16, according to Ken Tumin, co-founder of DepositQuest.com.

2. Certificates of deposit: For money you can afford to lock up for fixed periods of time, you can get inflation-beating rates on CDs. The average rates on offer for CDs with terms between one and four years ranged between 3.80% and 4.15% on Schwab.com on Wednesday.

3. Money market funds: The average 7-day yield on the top 100 money market funds – which invest primarily in very short-term, low-risk debt – was 3.47% as of Tuesday, per Crane Data.

4. Treasuries: As of Wednesday morning, the best yields for Treasuries on offer with durations ranging from three months to five years were between 3.67% and 3.85% on Schwab.com. For US Treasuries with durations of 10 years or more, the average yields ranged from 4.22% to 4.92%.

And, bonus: Interest income from Treasuries is exempt from state and local income taxes.

Your debts

Whether you’re carrying or seeking so-called “good debt” like a mortgage or “bad debt” like a credit card, there are ways to reduce your interest burden.

5. Credit cards: The average credit card APR – at 19.58% per Bankrate as of Wednesday – may be below the all-time record high of 20.79% hit in August 2024. But both are punishingly high.

And credit card rates aren’t likely to budge much for now, according to Matt Schulz, chief consumer finance analyst at LendingTree, in an email to CNN. It’s more likely, Schulz said, that “card issuers will stand pat and see how events in Iran and elsewhere play out before making any major moves.”

If you’re carrying credit card debt and can’t pay it off quickly: 1) See if you qualify for a balance-transfer card that will give you up to 21 months to pay off your balance interest free; 2) call your

Prosecutors in Kouri Richins’ murder trial couldn’t prove how she poisoned her husband. They didn’t need to

Kraig Pakulski 0 17 Article rating: No rating

By Nicki Brown, CNN

(CNN) — During Kouri Richins’ weekslong murder trial, her attorneys repeatedly drove home the crux of their defense – that prosecutors could not prove how the drugs that killed her husband entered his body.

Not one of more than 40 witnesses called by the prosecution testified about how Kouri Richins administered roughly five times a lethal dose of fentanyl to Eric Richins in March 2022. In the prosecution’s closing argument, Brad Bloodworth argued she slipped the drugs into her husband’s drinks the night he died.

“They cannot tell you how Eric ingested that fentanyl,” defense attorney Wendy Lewis told jurors in her closing argument. “They haven’t done their job, and now they want you to make inferences based on paper-thin evidence.”

To prove their case, prosecutors relied largely on circumstantial evidence to tie her to Eric Richins’ death. After roughly three hours of deliberations, a Utah jury on Monday convicted Kouri Richins of aggravated murder and all other charges.

Cases based on direct evidence are not necessarily stronger than those that rely on circumstantial evidence, legal experts said. Unlike direct evidence, such as eyewitnesses or recordings of a crime, circumstantial cases require jurors to determine a defendant’s guilt by weaving together indirect evidence.

In Kouri Richins’ case, prosecutors focused on potential motives for Kouri Richins to kill her husband and actions they said show her guilty conscience after his death – both elements that can illustrate a defendant’s state of mind. They also used digital records to corroborate key witness testimony, which strengthened their circumstantial case.

“All of these things together start to add up, and the prosecution builds this huge mountain,” Massachusetts criminal defense attorney Elyse Hershon said. “The defense is trying to take pieces out, but it did not collapse.”

Motives give jurors ‘a reason to convict’

Prosecutors focused much of their case on the reasons Kouri Richins may have wanted her husband dead: she was unhappy in her marriage, having an affair with another man and believed she stood to receive millions of dollars after his death.

“A motive gives the ‘why’ – why an alleged crime was committed by the defendant sitting in the courtroom,” said CNN Trial Correspondent Jean Casarez, herself an attorney who closely covered the trial. “Juries want to know why. That gives them a reason to convict.”

Despite the salacious details about Kouri Richins’ extramarital affair, prosecutors largely concentrated on her desperate financial situation. A forensic accountant testified for a full day about Kouri Richins’ struggling real estate business and perpetual debt cycle.

“As of the date that Eric Richins died, Kouri Richins was in financial distress and her financial enterprise was collapsing, had been collapsing – and but for a significant infusion of cash and capital, would have continued to collapse,” said Brooke Karrington, who analyzed financial records in the case.

Eric Richins’ life was insured for more than $2.2 million through several policies, including one his wife was convicted of applying for fraudulently.

Ten days after that policy took effect, Kouri Richins attempted to kill her husband on Valentine’s Day, her jury found. A month later, he was dead.

“Kouri Richins wanted to murder Eric Richins, thus took out an insurance policy on his life to get money for murdering Eric Richins,” Bloodworth told the jury in his closing a

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