US consumer borrowing rose in March by the smallest amount this year as Americans relied less on credit cards. Total credit increased $6.3 billion after an upwardly revised $15 billion gain in February, according to Federal Reserve data released Tuesday....
While many Americans struggle to save for retirement, the top 1% amass significant nest eggs. This raises the question: How much do they save, and how does it compare to the national average? Data from DQYDJ, using Federal Reserve statistics,...
If you use a credit card, you’re more like millionaires than you may think. Although most adults have credit cards, millionaires are even more likely to use them. According to the Federal Reserve, almost all adults with incomes over $100,000...
Americans haven’t been stashing money into their savings accounts like they used to, according to government statistics. That’s part of the reason why consumer spending has been so robust since the economy ascended from pandemic depths, despite high inflation and...
The bid for Treasuries that swept through markets ahead of the weekend is unwinding amid hopes the conflict between Iran and Israel will now calm, with attention returning to the inflationary forces dogging the world economy. The yield on 10-year...
Americans’ “magic number” savings goal for retirement has increased by over 50% since 2020. But experts say the secret to building true wealth is having a high savings rate. When it comes to retirement, Americans have a new number in...
Americans plagued by surging prices over the past 20 months continue to face strain as the cost of everyday necessities remains elevated following a hotter-than-expected inflation reading in March. The Labor Department said Wednesday that the Consumer Price Index (CPI),...
Another hotter-than-expected inflation reading is fueling investor fears that the Federal Reserve will have to push back the number and timing of interest rate cuts this year. The Consumer Price Index (CPI) rose 3.5% over the prior year in March,...
As car prices moderate from a pandemic-era surge, insurance has pushed the cost of car ownership to the brink for many Americans. New data out on Wednesday from the Bureau of Labor Statistics showed auto insurance costs last month were...
Stocks and bonds dropped around the globe as solid economic readings and a rally in commodities spurred speculation that major central banks will keep interest rates higher for longer. In a revival of the “good news is bad news” trade,...
Inflation has crept into every part of Americans’ lives, including how much they now think they need to retire comfortably: a record $1.46 million, a study released on Tuesday said. That’s a 53% surge since the $951,000 target Americans reported...
Ratings agency S&P Global on Tuesday downgraded its outlooks for five regional U.S. banks to due to their commercial real estate (CRE) exposures, in a move likely to reignite investor concerns about the health of the sector. The ratings agency...
The stock market is at odds with what is going on in the economy, top economist David Rosenberg says. The latest market frenzy has shades of July 2007, when stocks were caught in a swift decline just three months later,...
When you’re planning for taxes, it’s helpful to know both your marginal tax rate and your effective tax rate. Marginal tax rate is the percentage you pay in taxes on the last dollar you earn, while effective tax rate is...
Inflation pressures remained persistent in February, as prices for shelter and gas rose, according to the latest data from the Bureau of Labor Statistics released Tuesday morning. The Consumer Price Index (CPI) showed prices rose 0.4% over the previous month...
