Consumer Protections at Risk: Stop Durbin and Marshall
The following content is Electronic Payments Union. Today, we swipe our cards for almost everything: buying products online, shopping for groceries, donating to charity, etc. You probably don’t realize what goes on behind the scenes to make this easy access possible. These secure, seamless transactions are possible thanks to a robust payment processing network that […]
Consumer Financial Protection Bureau to launch registry of ‘repeat offenders’
The Consumer Financial Protection Bureau (CFPB), the federal government’s top consumer watchdog, announced Monday that it will create a registry to go after companies and individuals that repeatedly violate consumer protection laws. The new rules, originally proposed in December 2022, would require non-bank companies that receive enforcement orders from local, state, or federal consumer protection […]
Consumer Spending Weakens in April
Inflation, high interest rates, and the depletion of excess household savings may finally be starting to take a toll on the economy. Commerce Department data released on Friday showed consumer spending rose 0.2% in April, the smallest increase in three months. Economists had expected a 0.4% increase. The slowdown in the main driver of U.S. […]
GDP grew just 1.3% last quarter, consumer spending weaker than expected
The U.S. economy grew at a sluggish 1.3% annualized rate in January-March, the slowest quarterly growth rate since spring 2022, the government said Thursday, revising down its previous forecast. Consumer spending increased but at a slower pace than previously expected, suggesting that high interest rates and lingering inflation are putting pressure on household finances. The […]
Q1 GDP revised down on lackluster consumer spending
Consumer spending is slowing, dragging down the economy. (iStock) of Second estimate According to the Bureau of Economic Analysis (BEA), the forecast for real gross domestic product (GDP) for the first quarter of 2024 has been revised downward due to a larger-than-expected decline in consumer spending. BEA’s second estimate showed real GDP grew at an […]
Stock market joy cannot mask consumer woes
The recent stock market rally suggests that investors believe the U.S. economy is finally regaining strength after four years of turmoil. Probably Wrong. The Dow Jones Industrial Average hit a major milestone on May 16, surpassing 40,000 and has remained around that number ever since, meaning the Dow has risen 40% since its most recent […]
Despite Surprise Boost in Consumer Confidence, Recession Fears Rose in May
U.S. consumer confidence unexpectedly improved in May, snapping a three-month slump as consumers expressed a more positive view of the job market and became more optimistic about jobs, the economy and their incomes in the coming months. At the same time, consumers’ financial situations have worsened, they expect inflation and interest rates to rise, and […]
Consumer confidence bounced back in May after 3 months of decline
Jharonne Martis, consumer research director at LSEG, analyses consumer wellbeing and explains the context behind the shift in spending on ‘making money’. US Consumer Confidence An optimistic outlook for the labor market led the PMI to rise in May after falling over the past three months, but Americans still expect inflation and high interest rates […]
Consumer confidence rose in May after three months of declines
Consumer confidence in the economy rose slightly in May after months of declines, according to data from the Conference Board. Released on Tuesday. According to the industry group’s monthly survey, the consumer confidence index rose to 102 in May from 97.5 in April. “Still, overall confidence remained within the relatively narrow range it has been […]
Walmart, Capital One end exclusive consumer credit card agreement
Kudlow’s panelists Kevin Brady, Art Laffer and Sandra Smith discuss why Biden economics isn’t being embraced by voters. Capital One and Walmart announced Friday that they had terminated an agreement that positioned Capital One as the exclusive issuer of Walmart’s debt. Consumer Credit Cards. Walmart and Capital One began working together in 2018 after the […]