DailyFinance

Ratings agency Egan-Jones has downgraded its credit rating for US debt one level -- to AA- from AA -- citing Federal reserve plans to try to stimulate the economy by buying mortgage bonds.

Mitt Romney is promising to reduce taxes on middle-income Americans. But how does he define "middle income"? The Republican presidential nominee defined it as income of $200,000 to $250,000 a year.

The New York Stock Exchange is paying $5 million to settle federal civil charges that it gave some customers an unfair head start by providing them with trading data ahead of the wider public. It marked the first time the Securities and Exchange Commission ever imposed a fine on an exchange.

Apple's iPhone 5 added many new features, but one highly-anticipated improvement was left out: the near-field communications chip that would allow you to make purchases with a wave of the smartphone, using your built-in mobile wallet.

More expensive gas drove up consumer prices in August by the most in three years. But outside of energy costs, inflation was tame. The CPI rose a seasonally adjusted 0.6% last month, the first increase since March and higher gas prices accounted for 80% of the increase.

Everyone expected Fed Chairman Ben Bernanke to announce another round of Quantitative Easing Thursday, and he did. But in the past, there have always been defined limits on how far the Fed would go. This time, there are none. Here's why he said it, and why it's huge.

Credit rating agency Moody's is threatening to downgrade U.S. debt if Washington doesn't get its act together soon -- which could (perhaps) increase the government's borrowing costs. That would be troublesome, but the really scary U.S. debt problem is China's economic slowdown.

The 67-year-old British rocker is selling an abstract painting by German artist Gerhard Richter at Sotheby's next month which is expected to fetch $14-19 million.

Bradley Birkenfeld just got some good news and some bad news. The good news was that he got a $104 million payment from the IRS for his role in catching tax evaders. The bad news: His reward isn't tax exempt.

Toys R Us is hoping to have a happy holiday shopping season this year by making it easier on parents. The company is launching a free Hot Toy Reservation program that will allow customers to reserve popular toys before they're in stock, sparing them the mad dash to the store later.

There are many reasons the middle class feels squeezed right now: unemployment, underwater mortgages, rising college tuition. But it's a combo of three other factors that made the 2000s a lost decade for average Americans: declining household income, shrinking net worth, and a smaller middle class.

Home prices have finally started to inch higher. Builders are growing revenues again. But hold your applause: It may be too early to start calling this an actual housing recovery.