Consumer loss looms with the Credit Card Competition Act
Many Democrats seem to dislike credit card companies, despite the myriad benefits they offer consumers. This perspective seems to focus on vague and misguided claims about greed and price gouging, and treats almost any inconvenience associated with credit card use as prima facie evidence of fraud. The answer, of course, is more regulation. Or so […]
GOP blasts consumer agency over push to regulate digital wallets, payment apps
House Republicans attacked the Consumer Financial Protection Bureau (CFPB) during a hearing Wednesday over proposed rules that would regulate financial services such as digital wallets and payment apps. The agency released a proposal to supervise nonbank financial technology in November, with CFPB Director Rohit Chopra saying the rule would “help ensure that large technology companies […]
Consumer Prices Rising Faster Than Expected
U.S. households suffered a second straight month of sharp rises in prices in February, undermining the Biden administration’s claims that policy is keeping inflation in check and dampening hopes for Fed rate cuts in coming months. The consumer price index rose 0.4% in February, exceeding the rate of increase in January and marking the fourth […]
Consumer debt in the UK is down 10%. The bad news? Utility bill arrears are up | Torsten Bell
IIt’s important to worry about the right things. Interest rates are rising, creating concerns about debt, in my case a mortgage. Consumer debt (credit cards, overdrafts, personal loans) is said to be rapidly increasing. But the truth is that consumer debt levels are falling.new Resolution Foundation Research This is the lowest level since at least […]
Democrat Worries Likely Behind Unexpected Consumer Confidence Decline
Consumer confidence unexpectedly declines Consumer confidence unexpectedly worsened in February, and the economic outlook worsened again. Recession warning area. The cause may be that Democrats are worried about November. Second Trump inauguration. of Conference Board Consumer Confidence Measure It rose every month from November to January. Wall Street economists had expected it to rise again […]
Family Dollar pleads guilty to holding consumer products in ‘rodent-infested warehouse’ in Arkansas
The Department of Justice announced Monday that Family Dollar Stores LLC has pleaded guilty to storing consumer products in a warehouse that has been characterized as a “rodent-infested warehouse.” CBS News. The company admitted to storing medical equipment, food, medicine and cosmetics in unclean and unsanitary conditions, the statement said. The statement further said rodents […]
Family Dollar pleads guilty to holding consumer products in ‘rodent-infested warehouse’
The Department of Justice announced Monday that Family Dollar Stores LLC has pleaded guilty to storing consumer products in a “rodent-infested warehouse.” The Justice Department on Monday said the company pleaded guilty to storing food, drugs, medical devices and cosmetics in unsanitary conditions in connection with a rodent infestation at its distribution center in West […]
Consumer spending and debt are up as US economy begins rebound
Consumers increased spending on retail and food services, increasing household debt. (iStock) Retail and food service purchases reached an estimated $700.3 billion in January 2024, an increase of 0.6% year over year. Census Bureau data indicates. Increased purchases and other debts are contributing to the increase in household debt. Total household debt in the United […]
Consumer Sentiment Holds Gains While Long-Run Inflation Expectations Remain Stuck in High Gear
Consumers reduced their spending at retail stores in January, but not because they were feeling worse about the economy and its outlook. A preliminary survey of Americans’ financial health released in February by the University of Michigan showed on Friday that consumer sentiment continued to rise from the past two months. The consumer confidence index […]
Producer prices and consumer prices both came in hot in January
Wholesale and retail prices rose more than expected in January, with data showing stubborn inflation and the Federal Reserve potentially holding off on cutting interest rates. The producer price index (PPI), which measures how much businesses pay each other for goods and services, rose 0.3% in January, beating expectations of 0.1%. Service prices rose 0.6% […]