By CHRISTOPHER RUGABER, Associated Press

WASHINGTON (AP) — Chair Jerome Powell said Wednesday that the Federal Reserve’s ability to set interest rates free of political interference is necessary for it to make decisions to serve “all Americans” rather than a political party or a specific outcome.

Speaking at at New York Times’ DealBook summit, Powell spoke in response to a question about President-elect Donald Trump’s numerous public criticisms of the Fed and of Powell himself.

“We’re supposed to achieve maximum employment and price stability for the benefit of all Americans and keep out of politics completely,” Powell said.

The Fed chair said he was confident of widespread support in Congress for maintaining the central bank’s independence.

“I’m not concerned,” he said, “that there’s some risk that that we would lose our statutory independence.”

On the topic of interest rates, Powell said the Fed can afford to cut its benchmark rate cautiously, because the economy remains sturdy and inflation has tumbled from its peak of two years ago.

The Fed has been aiming to deliver a “soft landing” for the economy, whereby the central bank’s interest rate hikes manage to help reduce inflation to its 2% target without causing a recession. History has shown it’s a rare and difficult feat.

Yet the economy appears largely on track for such an outcome. The job market has slowed. And inflation is down sharply, though in recent months it has remained stuck modestly above the Fed’s target, which could make the policymakers reluctant to cut rates much further.

Several other Fed officials have said this week that they expect to cut rates further, without committing to a reduction at their next meeting later this month.

On Monday, Christopher Waller, an influential member of the Fed’s Board of Directors, said he was “leaning” toward a rate cut when the central bank meets in two weeks. Waller added, though, that if forthcoming data on inflation or hiring appears worse than the Fed expects, he might favor keeping rates unchanged.

On Tuesday, Mary Daly, president of the Federal Reserve Bank of San Francisco, said she supported further lowering rates, without commenting specifically on a timetable.

“Whether it’ll be in December or some time later, that’s a question we’ll have a chance to debate and discuss at our next meeting,” Daly said in an interview on Fox Business News. “But the point is, we have to keep policy moving down to accommodate the economy because we want a durable expansion with low inflation.”

By MARIA CHENG and MARIA VERZA

MEXICO CITY (AP) — It’s been called the closest the world has ever come to a vaccine against the AIDS virus.

The twice-yearly shot was 100% effective in preventing HIV infections in a study of women, and results published Wednesday show it worked nearly as well in men.

Drugmaker Gilead said it will allow cheap, generic versions to be sold in 120 poor countries with high HIV rates — mostly in Africa, Southeast Asia and the Caribbean. But it has excluded nearly all of Latin America, where rates are far lower but increasing, sparking concern the world is missing a critical opportunity to stop the disease.

“This is so far superior to any other prevention method we have, that it’s unprecedented,” said Winnie Byanyima, executive director of UNAIDS. She credited Gilead for developing the drug, but said the world’s ability to stop AIDS hinges on its use in at-risk countries.

In a report issued to mark World AIDS Day on Sunday, UNAIDS said that the number of AIDS death last year — an estimated 630,000 — was at its lowest since peaking in 2004, suggesting the world is now at “a historic crossroads” and has a chance to end the epidemic.

The drug called lenacapavir is already sold under the brand name Sunlenca to treat HIV infections in the U.S., Canada, Europe and elsewhere. The company plans to seek authorization soon for the drug to be used for HIV prevention.

While there are other ways to guard against infection, like condoms, daily pills, vaginal rings and bi-monthly shots, experts say the Gilead twice-yearly shots would be particularly useful for marginalized people often fearful of seeking care, including gay men, sex workers and young women.

“It would be a miracle for these groups because it means they just have to show up twice a year at a clinic and then they’re protected,” said UNAIDS’ Byanyima.

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Such was the case for Luis Ruvalcaba, a 32-year-old man in Guadalajara, Mexico, who participated in the latest published study. He said he was afraid to ask for the daily prevention pills provided by the government, fearing he would be discriminated against as a gay man. Because he took part in the study, he’ll continue to receive the shots for at least another year.

“In Latin American countries, there is still a lot of stigma, patients are ashamed to ask for the pills,” said Dr. Alma Minerva Pérez, who recruited and enrolled a dozen study volunteers at a private research center in Guadalajara.

How widely available the shots will be in Mexico through the country’s health care system isn’t yet known. Health officials declined to comment on any plans to buy them for its citizens; daily pills to prevent HIV were made freely available via the country’s public health system in 2021.

“If the possibility of using generics has opened, I have faith that Mexico can join,” said Pérez.

Byanyima said other countries besides Mexico that took part in the research were also excluded from the generics deal, including Brazil, Peru and Argentina. “To now deny them that drug is unconscionable.” she said.

In a statement, Gilead said it has “an ongoing commitment to helping enable access to HIV prevention and treatment options where the need is the greatest.” Among the 120 countries eligible for generic version are 18 mostly African countries that comprise 70% of the world’s HIV burden.

The drugmaker said it is also working on establishing “fast, efficient pathways to reach all people who need or want lenacapavir for HIV prevention.”

On Thursday, 15 advocacy groups in Peru, Argentina, Ecuador, Chile, Guatemala and Colombia wrote to Gilead, asking for the generic version to be made available in Latin America, citing the “alarming” inequity in access to new HIV prevention tools while infection rates were rising.

While countries including Norway, France, Spain and the U.S. have paid more than $40,000 per year for Sunlenca, experts have calculated it could be produced for as little as $40 per treatment once generic production expands to cover 10 million people.

Dr. Chris Beyrer, director of the Global Health Institute at Duke University, said it will be enormously useful to have the Gilead shots available in the hardest-hit countries in Africa and Asia. But he said the rising HIV rates among groups including gay men and transgender populations constituted “a public health emergency” in Latin America.

Hannya Danielle Torres, a 30-year-old trans woman and artist who was also in the study in Mexico, said she hoped the government would find a way to provide the shots. “Mexico may have some of the richest people in the world but it also has some of the most vulnerable people living in extreme poverty and violence,” Torres said.

Another drugmaker, Viiv Healthcare, also left out most of Latin America when it allowed generics of its HIV prevention shot in about 90 countries. Sold as Apretude, the bi-monthly shots are about 80% to 90% effective in preventing HIV. They cost about $1,500 a year in middle-income countries, beyond what most can afford to pay.

Asia Russell, executive director of the advocacy group Health Gap, said that with more than 1 million new HIV infections globally every year, established prevention methods are not enough. She urged countries like Brazil and Mexico to issue “compulsory licenses,” a mechanism where countries suspend patents in a health crisis.

It’s a strategy some countries embraced for previous HIV treatments, including in the late 1990s and 2000s when AIDS drugs were first discovered. More recently, Colombia issued its first-ever compulsory license for the key HIV treatment Tivicay in April, without permission from its drugmaker, Viiv.

Dr. Salim Abdool Karim, an AIDS expert at South Africa’s University of KwaZulu-Natal, said he had never seen a drug that appeared to be as effective as the Gilead shot in preventing HIV.

“The missing piece in the puzzle now is how we get it to everyone who needs it,” he said.

Cheng reported from London.

The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.

Mia Taylor | (TNS) Bankrate.com

Before putting your home on the market, it’s important to make it look its best for prospective buyers. Getting a home in show-ready shape might involve decluttering the interiors, sprucing up the curb appeal and investing in key repairs around the residence.

But don’t get carried away. Pouring too much money into the home can be a losing investment: It won’t substantially improve your sale price, leaving you out-of-pocket for unnecessary expenses. So it’s important to know where to draw the line. Here are some of the things homeowners need not fix when listing a home for sale.

Why you don’t need to fix everything

As a general rule, it’s a good idea to focus on fixing items that may impact your home’s sale price. Beyond that, money spent on repairs and replacements may be wasted, as prospective buyers may not find the improvements necessary or even notice the work was done at all.

In addition, most major renovation projects do not recoup the money you spend on them at resale. “Many times a major kitchen renovation or room addition won’t give you the return on investment that you might expect,” says Jade Lee Duffy, a Realtor with Epique in San Diego, California. For example, spending thousands of dollars on fancy new kitchen tiles can backfire: Buyers have their own taste and don’t want to end up paying for new tile that they don’t like. Projects like extensive landscaping, high-end fixtures and new pools typically do not offer a dollar-for-dollar return either, she says.

Buyers do usually expect the house to be in “good working order,” though, says Duffy. Before embarking on repairs, consult with a local real estate agent for advice and input about projects that make the most sense — and might translate into better offers.

What you should fix when you sell

Julie Upton, a Realtor with Compass in the San Francisco Bay Area, suggests concentrating on things buyers typically notice most. “Buyers see flooring, walls, kitchens and baths,” she says. “They focus on beautiful main living spaces. That is where you should start.”

You should address basic wear-and-tear in these areas. For example, fresh paint is a must, says Upton — in fact, she advises against even listing a home without repainting the interiors first. Refinishing hardwood floors can also be a good idea. According to the National Association of Realtors’ most recent “Remodeling Impact Report,” refinished hardwoods are one of the few renovation projects that actually recoup more than their cost.

Although it’s a less sexy fix, updating an aging or faulty heating, venting and air conditioning (HVAC) system might also be worth considering, especially if you live in a warm-weather locale. “The number one repair is HVAC during any summer home sale,” says Dustin Fox, a Realtor with Pearson Smith Realty in Ashburn, Virginia. “If your air conditioning is toward the end of its life and the thermostat can’t keep up with the set temperature, buyers — and buyer’s agents — will notice.”

Beyond repairs

You only have one chance to make a first impression with buyers, so investing in your home’s front entrance and the immediate area is usually money well spent. “When the exterior of a home has good curb appeal, it means it is attractive to look at and inspires confidence,” says Dino DiNenna, a broker-Realtor with Southern Lifestyle Properties in Hilton Head, South Carolina. “Good curb appeal can help to sell a home faster and at a much better price.”

Staging can also make a home more desirable and appealing to buyers. Well-staged homes sell faster than unstaged ones, says DiNenna. “Plus, it can increase the selling price of a home by 20% or more,” he says.

What not to fix when selling a house

Just as important as knowing what to fix is knowing what you don’t need to bother with. There’s typically no need to address relatively small issues, including:

—Minor electrical or plumbing issues: Often buyers will not worry about small, isolated electrical and plumbing problems — the light switch attached to nothing, the faucet that drips a bit before stopping. “Just disclose these issues and let the buyer deal with it,” says Upton.

—Older appliances: Real estate listings love to name-drop snazzy brands or tout a “newly outfitted” kitchen/bathroom/laundry room — and certainly, state-of-the-art appliances can be appealing. But not having them is rarely a deal-breaker, especially in a hot market, says Keri Rizzi, a Realtor with HomeSmart in White Plains, New York. Only “if feedback repeatedly comes in stating that the old appliances are keeping buyers from making offers” should sellers take that into consideration and adjust their price accordingly, or replace the appliances, she says.

—Aging windows: You want your windows to be sparkling clean, but don’t bother to actually replace them. New windows are a costly endeavor that typically will not prove valuable when listing your home on the market. “We never recommend replacing windows,” says Fox. “We’ve rarely had a client not move forward with an offer because the windows are old.”

—Outdated floor coverings: As long as it’s in decent shape, it’s probably not worth replacing wall-to-wall carpeting or dated-looking floor tiles. Buyers might not adore them, but they can be easily replaced with something more to the new owner’s personal taste.

—Any project you can’t finish: Avoid starting any work that may not be able to be completed prior to listing. Works-in-progress can negatively impact a prospective buyer’s impression of your home: ”A half-finished anything looks worse than just leaving it as is,” says Upton. “It also sends a signal that the seller ran out of money, so a buyer may think they can offer less because the seller may be in financial distress.”

Bottom line

You’ll incur plenty of costs when selling a home, so it’s important to keep a lid on the ones you can control. While it’s important to ensure your home makes a good first impression, some repairs can be skipped — and some may even be a turn-off to prospective buyers. Before spending a great deal of money on repairs and renovations, talk with an experienced real estate professional about the projects to prioritize. You want your dollars to go where they’ll have the most impact, garnering you the best return on your investment when it comes to sale price.

©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.

By Tommy Tindall, NerdWallet

The holiday season can add up. On average, shoppers are expected to spend a record $902 per person on holiday purchases this year, according to the National Retail Federation. Holiday expenses include gifts, food, decorations and other seasonal items.

It’s important to set a reasonable budget for holiday spending. If you’re worried extra expenses will exceed your income, it might be time to cut back. Alternatively, you can try to find a side gig that’ll net you an extra 500 bucks.

Here are some ways to make extra money.

1. Work as a seasonal sales associate

An influx of consumer spending means retail stores need help this time of year. If you have the time, energy and interest, you can seek a gig as a seasonal sales associate. It’s a part-time job, but you can still call it a side hustle, especially if your main hustle is going to school, taking care of the family or working a full-time job.

At the time of this writing, we found lots of openings nationwide. One example is a seasonal sales associate with Burlington Stores in Brooklyn, New York. It’s posted as part-time, seasonal work that pays $16 per hour. We also spotted an opportunity to work at a Levi Strauss & Co store in Seattle, Washington for up to $21 per hour.

At $16 an hour, you’ll need to put in 32 hours of work to hit the $500 mark — before taxes. But hey, you may like the customer interaction.

2. Become a gig delivery driver

Delivery gigs aren’t known for high pay, but driving for a service like DoorDash or Instacart is an accessible way to earn extra money. If you meet basic qualifications and have access to a vehicle, you could be delivering and earning before Christmas.

According to Glassdoor, the average pay range is between $22 and $33 per hour for a DoorDash Driver and between $19 and $27 per hour for an Instacart delivery driver. That sounds pretty good until you ask someone who’s given these gigs a shot.

I, your Nerdy writer, signed up and tried driving for both services as part of NerdWallet’s Side Hustle Stress Test series and didn’t quite hit the Glassdoor averages. I averaged just over $13 per hour driving for DoorDash and just under $11.50 per hour as an Instacart full-service shopper. In my defense, I didn’t do either gig long enough to master the method.

Let’s say you’re more efficient than me and can pull in $20 per hour doing delivery gig work this holiday season. You could hit $500 in 25 hours. But don’t forget about gas, wear and tear on your car, and the taxes you’ll pay as an independent contractor.

3. Start your freelance business

Go a big step further and start the online freelance business you’ve always wanted.

Julexy Lopez jumped into her side business back in 2016. She’s a graphic designer by trade and leverages the skills she uses daily to offer design work and email campaign management on the freelance marketplace Fiverr. While it took time to build her client base, it’s turned into a steady stream of side money.

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“On average, I can count on at least $500 a month,” she says. “It’s money that I can use for savings or to splurge on that extra thing here and there.”

Soraya Ivette, a content marketing strategist who offers services on Fiverr, started freelancing part-time when she was home with her young children.

“It allowed me to have extra spending money and contribute to the household income,” she said in an email interview.

Ivette said she earned $20,000 in her first year and that her income has only increased in the time since.

“I believe it’s absolutely possible to earn between $500 and $1,000 monthly. With an optimized profile and skill you can start making $500 within your first month or two,” she said.

Keep in mind that freelance marketplaces like Fiverr, Upwork and Freelancer.com take a cut of each transaction. You can also find clients on your own. For example, Ivette uses her public-facing business website as another avenue to connect with clients.

Other ways to earn extra money this holiday season

Other ways to earn extra bucks are less prescriptive, but readily available.

Sell unwanted items from around the house: Apps like OfferUp and Facebook (for Facebook Marketplace) make it easy to post and sell stuff in your local community. Popular items to offload include furniture, video game consoles, computers and headphones. If you find the right items and put some effort into your listing, you might be able to put $100 in your pocket with one or two sales.

Take family portraits for holiday cards: Do you have a DSLR or mirrorless camera, a good lens and an eye for design? You could take family portraits for pay. Start with your own friends and family for less pressure on your first couple gigs. According to online task and service platform Airtasker, photographers can charge between $75 and $600 for family photo shoots. You may want to offer the friends and family discount for the first couple shoots.

Do odd jobs in your community: Online platforms like Airtasker and Taskrabbit can connect you to paying gigs for all sorts of local jobs. One seasonal example is raking leaves. According to Taskrabbit’s website, taskers on the platform provide yardwork services starting at $30 per hour. Other odd jobs can include cleaning houses, decorating for parties and assembling furniture.

While the idea of starting a side hustle is alluring, making it happen can be elusive. Don’t feel bad if things don’t pan out this season. Finding ways to save money can be as effective as earning a little more.

Also, the $902 holiday spending estimate is just that. Win the season by spending less.

Tommy Tindall writes for NerdWallet. Email: ttindall@nerdwallet.com.

The article 3 Ways to Earn an Extra $500 for the Holidays originally appeared on NerdWallet.