Fotostorm | E+ | Getty Images Millions of American workers are paying for early access to their paychecks. In some cases, it can come with a steep price. So-called “earned wage access” programs, which operate either directly to the consumer or through employers, let workers tap a portion of their wages before payday, often for … Read more
The benchmark S&P 500 and the blue-chips Dow were subdued on Friday as an in-line inflation print signaling continued moderation in price pressures helped offset an earnings gloom cast by a dour revenue forecast from Intel. The U.S. Commerce Department’s report showed the personal consumption expenditure index – the Federal Reserve’s preferred inflation gauge -rose … Read more
People walk by sale signs in the Financial District on the first day back for the New York Stock Exchange (NYSE) since the Christmas holiday on December 26, 2023 in New York City. Spencer Platt | Getty Images An important inflation gauge released Friday showed that the rate of price increases cooled as 2023 came … Read more
Ascentxmedia | E+ | Getty Images High inflation has prompted even well-to-do Americans to rethink their spending habits. But one group — affluent millennials — are more likely to lie or exaggerate their finances to appear financially successful, according to a recent survey from Wells Fargo. That goes for 34% of affluent millennials versus just … Read more
Residents waiting at a bus stop under a large Turkish flag in Istanbul, Turkey, on Sunday, April 30, 2023. Bloomberg | Bloomberg | Getty Images Turkey’s central bank on Thursday hiked its key interest rate by another 250 basis points to 45%. The hike to the benchmark one-week repo rate was in line with economists’ expectations. … Read more
Brand X Pictures | Stockbyte | Getty Images When faced with an unexpected $1,000 expense, more than one-third of Americans would borrow the money, according to a new Bankrate survey. That may include tapping their credit cards, seeking money from friends or family or taking out a personal loan. Most would not turn to cash … Read more
A man walks past a barbershop in Los Angeles. Robyn Beck | Afp | Getty Images Inflation in the U.S. economy is on the retreat. But the road to ultimate victory may be harder than what’s come already, some economists argue. “The so-called last mile is going to get a lot trickier,” Mohamed El-Erian, chief … Read more
Jim Dyson | Getty Images News | Getty Images The global economy does not need a “collapse” in order to bring inflation back to target and return to sustainable growth, according to Steven Wieting, chief investment strategist and chief economist at Citi Global Wealth. Major economies have proven surprisingly resilient to sharp interest rate increases … Read more
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2024. Brendan Mcdermid | Reuters Markets have become less convinced that the Federal Reserve is ready to press the button on interest rate cuts, an issue that cuts at the heart of where the economy and … Read more
A customer shops for eggs in a Kroger grocery store in Houston, Texas. Brandon Bell | Getty Images News | Getty Images Egg prices are on the rise again, after having fallen from record highs in 2023. Average egg prices jumped 8.9% from November to December, following a 2.2% rise the prior month, according to … Read more
