Holiday sales to grow at slowest pace since 2018; inflation wipes out consumers’ savings
U.S. holiday sales are expected to grow at the slowest pace since 2018 amid concerns that persistent inflation will wipe out consumer savings, according to a new survey. Holiday retail sales are projected to grow 2.3% to 3.3% from November through January, totaling $1.6 trillion. According to Deloitte's annual holiday retail forecast. That's a far […]
Consumers see inflation easing, anxious about job market, personal debt
Dominari Financial CEO Kyle Uhl weighs in on Kamala Harris' economic policies and talks about his favorite tech stocks on “Mornings with Maria.” According to a new report released Monday by the Federal Reserve Bank of New York, U.S. consumers Inflation mitigationHowever, concerns have grown about the labour market and managing household debt burdens. of […]
NYC funeral home chain that exploited consumers settles for $700K
A New York funeral home chain will have to pay hundreds of thousands of dollars for allegedly cheating and deceiving customers, according to a settlement with the city. Bronx-based RG Ortiz Funeral Home will pay $600,000 in compensation to the family and a $100,000 civil penalty for failing to tell the family where the body […]
Soaring sausage sales could indicate economic turmoil as consumers turn away from costlier meats, expert reveals
As American families grapple with the effects of skyrocketing inflation, more people are turning to sausages as a meat substitute to cut back on their consumer spending. But some experts worry that the slight increase in sausage sales could signal deeper economic turmoil as the prices of basic goods continue to rise. “At the end […]
Disney wrongful death lawsuit is terms and conditions warning for consumers
A wrongful death lawsuit against Walt Disney Parks and Resorts serves as a reminder to consumers of the importance of reading the fine print when signing up for streaming services and smartphone apps. The lawsuit was filed by the family of a New York woman who died after eating at a restaurant at Disney Springs, […]
Grocery stores are moving to digital price tags: are they harming consumers?
Anthony Chan, a former chief economist at JPMorgan Chase, was responding to Kamala Harris saying she would make lowering prices a priority on her first day in office, even though she’s already in office. Two Democratic senators are investigating Grocery store chains Kroger has expressed concerns about the use of digital price tags, known as […]
New rule proposed by the CFPB would help consumers understand true cost of paycheck advance products
The new rules will require consumers to disclose financial information whenever they use a cash advance product. (iStock ) Payroll advance products, often referred to as “earned wages” products, allow consumers to receive their paychecks in advance when they are in a difficult situation. Offered through employers or as direct loans to consumers, these products […]
Depressed Consumers Are Bad News for Kamala Harris
Kamala Harris should be very worried about sagging consumer confidence Kamala Harris is I am very concerned about consumer sentiment.Unless she can muster a sudden surge of confidence in the economy, she is likely to lose the presidential election in November. University of Michigan Consumer Sentiment Survey This month it fell to an eight-month low.It […]
Tariffs Are Not Taxes on American Consumers
The Truth About Duties and Taxes Donald Trump’s proposal A flat 10% tariff The argument that this amounts to a tax on middle-class Americans calls for a deeper look into why such an argument is off the mark. First, let’s understand the basics. Tariffs are taxesThese are government taxes on imported goods levied directly on […]
Consumers find mild relief as June inflation dips by 0.1%
Inflation rose 3.0% year-on-year, down from 3.3% in May. (iStock) The Consumer Price Index (CPI) was unchanged in May but fell 0.1% seasonally adjusted in June. The Bureau of Labor Statistics recently. Over the past 12 months, the all-item index has risen 3%, slowing from a 3.3% increase in May, driven largely by rising food […]