Former President Donald Trump declared during his Fox News town hall on Wednesday that the U.S. will fall into an economic depression if Vice President Kamala Harris wins the general election on Nov. 5. “This country will end up in a depression if she becomes president. Like 1929, this will be a 1929 depression. She […]
Former President Trump on Sunday night appeared to gloat in response to the global market sell-off and suggested his Democratic rivals were to blame. “STOCK MARKETS CRASHING. I TOLD YOU SO!!! KAMALA DOESN’T HAVE A CLUE. BIDEN IS SOUND ASLEEP. ALL CAUSED BY INEPT U.S. LEADERSHIP!” Trump wrote on his Truth Social platform late Sunday night. U.S. […]
A growing number of Americans are falling behind on their car payments, an ominous sign for the U.S. economy as high auto prices and stubborn inflation strain household budgets. Car repossessions tumbled in the early days of the pandemic as the government sent trillions in stimulus money to American homes and businesses. But repossessions have […]
Germany is heading for a recession that is being caused by the bureaucracy around its green energy policies, the country’s opposition party has warned. Once one of the world’s strongest economies, Germany is now expected to have the worst performing economy of any leading nation in the world, according to stats from the International Monetary […]
The numbers are in and things look surprisingly rosy for the U.S. economy: The Federal Reserve is still cautious, but big brands – including Coca-Cola, Hilton and Visa — are singing praises to shoppers seemingly undeterred by companies’ raising prices. What’s more, Taylor Swift, Beyoncé and Barbie are enticing people to part with their money, […]
A key index of U.S. prices ticked higher in April, and consumer spending rebounded, a sign that inflationary pressures in the economy remain high. The index, which the Federal Reserve closely monitors, showed that prices rose 0.4% from March to April, much higher than the 0.1% rise the previous month. Measured year over year, prices […]
You’ve managed to buy the car, but can you afford to keep paying for it? Along with soaring car prices, loan rates are the most expensive they’ve been in more than 15 years, with the average monthly payment on a new car at an all-time high, new data from auto website Edmunds shows. The result […]
Following two years of temporary bans and rental assistance programs prompted by the COVID-19 pandemic, evictions skyrocketed across the United States in 2022. Court filings rose by double- or triple-digit percentages in 32 metro areas tracked by Eviction Lab, a research group at Princeton University. Overall, 14 cities saw more filings than would have been […]
After months of a remarkably strong US labor market and economy, everything seems to be slowing down. The latest high-frequency data shows that the consumer could be running out of steam, hiring activity is moderating, business activity is softening, interest-rate sensitive sectors are pulling back and housing is suffering. The question is whether Friday’s monthly […]
President Biden’s clean-energy law will cost roughly $1.2 trillion, a figure three times more than what supporters initially claimed. The Inflation Reduction Act was passed last year in an effort to address climate change, security and energy. Lawmakers who voted for the legislation said it would spur trillions in private-sector investment. An analysis by Goldman […]
Economists are growing concerned about the $20 trillion commercial real estate (CRE) industry. After decades of thriving growth bolstered by low interest rates and easy credit, commercial real estate has hit a wall. Office and retail property valuations have been falling since the pandemic brought about lower occupancy rates and changes in where people work […]
First Republic Bank customers lined up to withdraw their money Saturday as fears of a more significant banking crisis have spread throughout the industry. In what looks an awful lot like the lead-up to the banking crisis in 2008, trading in several regional U.S. banks was halted on Friday amid a massive sell-off after the […]
