Consumer confidence unexpectedly rose in May, ending three straight months of declines as Americans cheered a resilient labor market. The latest index reading from the Conference Board was 102, above 97.5 in April and higher than the 96 economists surveyed...
Home-price growth in 20 major US cities picked up pace in March, pressuring buyers as the key selling season kicks into gear. Prices in a measure of 20 cities increased 7.4% from a year earlier, larger than the 7.3% annual...
Fixed mortgage rates have dropped for two consecutive weeks, according to Freddie Mac. However, experts have released their latest rate forecasts over the last few days — and despite two weeks of decreases, economists’ longer-term outlooks are becoming less positive....
The United States has long had the world’s biggest defense budget, with spending this year set to approach $900 billion. Yet this spending is rapidly being eclipsed by the fastest-growing portion of federal outflows: interest payments on the national debt....
This popular strategy could simplify your budget and help you stay on track. If you have a complicated relationship with budgeting, the 50/30/20 rule could help. Rather than breaking down your monthly spending into dozens of tedious categories, this budgeting...
Producer price index data out Tuesday showed that inflation ran hotter in April, but downward revisions to earlier data assuaged concerns. Meanwhile, health care prices, the biggest input to the Federal Reserve’s primary core inflation rate, moderated a bit as...
Minneapolis Fed president Neel Kashkari said Tuesday that he believes interest rates will likely need to be held at current levels for an “extended period” and didn’t rule out a hike if inflation stalls near 3%. “I think it’s much...
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,...
