The Federal Reserve Just Indicated Social Security Could Get a Bigger 2025 Cost-of-Living Adjustment (COLA) Than Expected

The Federal Reserve may have just given retirees the biggest indication yet that their 2025 cost-of-living adjustment (COLA) may be quite substantial. The Fed is tasked with a dual mandate: to maximize employment while maintaining stable prices. Over the past three years, it's been in a battle with ongoing inflation. Its biggest goal right now is to push inflation below 2%. The Federal Open Market Committee (FOMC) recently met and released a statement on May 1. At the top of …