Amid rising debt levels, some borrowers face increased stress: NY Fed
Kudlow’s panelists Kevin Brady, Art Laffer, and Sandra Smith discuss how Bidennomics is not popular with voters. U.S. household debt levels rose in the first quarter of 2024, creating new challenges for already stressed credit card borrowers, according to a new report. federal reserve bank It was released on Tuesday in New York. Overall debt […]
Credit card delinquencies rise as more Gen Z cardholders are maxed out, New York Fed research shows – CNBC
According to one study, Americans have a total of $1.12 trillion in credit card debt. New report on household debt From the Federal Reserve Bank of New York. Credit card balances decreased by $14 billion in the first quarter of 2024, but credit card delinquency rates increased, consistent with typical spending patterns after the peak […]
Inflation rose to 2.2% in producer price index in April in bad news for the Fed
Inflation, as measured by the producer price index, rose to 2.2% for the year ending in April, the Bureau of Economic Analysis reported on Tuesday. April marks the third straight rise in the headline inflation rate, the opposite of the trend sought by the Federal Reserve and a warning sign for President Joe Biden. Most economists had forecast annual inflation would […]
Americans expect high inflation to stick around in latest NY Fed survey
Former Kansas City Fed President Thomas Honig responded to Jerome Powell’s statement that the Fed was not ready to start cutting interest rates “coast-to-coast.” Americans are bracing for continued high inflation for years to come, according to a major New York Fed survey released Monday. The median expectation is inflation rate According to the New […]
Congress Overspends, but the Fed Inflates
Writing in The American Conservative, Rep. Josh Brecheen (R-OK) recently blamed inflation on irresponsible fiscal policy. He cites a barrage of statistics on the magnitude of the national debt, the looming insolvency of Social Security and Medicare, and the burdens high prices create for American households. Rep. Brecheen is partly right: perpetual deficits are bad for the economy, […]
Fed. Appeals Court Upholds Trump Ally Steve Bannon’s Conviction
President Donald Trump’s former adviser Steve Bannon appears in Manhattan Supreme Court, setting a trial date for May 25, 2023 in New York City. Last year, Bannon was indicted on charges of money laundering, conspiracy and attempted fraud. (Photo by Curtis Means Poole/Getty Images) OAN’s Brooke Mallory1:03 PM – Friday, May 10, 2024 Former Donald […]
Conservatives Fed Up With Democrats’ Get-Out-The-Vote Machine Build Their Own In Battleground States
The commitment to GOTV efforts has to be year-round, and conservative ground game leaders are finally waking up to that fact. You’d be hard-pressed to find a more energetic group of go-getters than the army of vote wranglers in the Students Learn Students Vote Coalition. SLSV, which bills itself as the “national hub & largest nonpartisan network […]
Fed Chairman Powell finds lowering rates too easy to swallow
QI Research CEO Daniel DiMartino Booth and Fixed Income SMA Parametric Managing Director Nisha Patel discuss how inflation is impacting the U.S. economy on how money is made. Federal Reserve Chairman Jerome Powell was keen to take credit for achieving a soft landing for the economy, which is now much harder to achieve. His prediction […]
Goldman Sachs names ex-Dallas Fed chief as vice chairman
Goldman Sachs on Tuesday named former Dallas Federal Reserve Bank President Robert Kaplan as vice chairman. Mr. Kaplan’s new role at David Solomon’s Wall Street behemoth brings the influential former policymaker and Goldman alum to the executive board. Mr. Kaplan, 66, resigned as president of the Dallas Fed in September 2021, citing controversy related to […]
Fed President Kashkari Warns Rates Might Not Be High Enough
Minneapolis Fed President Neel Kashkala warned Tuesday that the Fed’s interest rate target may not be high enough to curb inflation. kashkari argued in a published essay The Minnesota Fed’s website said the strength of the labor market and the resilience of the housing market may mean interest rates need to be higher than Fed […]