By Parija Kavilanz, CNN Business New York CNNBusiness — Is there anything at your local grocery store (besides avocados) that’s getting less — not more — expensive as families plan their upcoming Thanksgiving Day meals? Well, yes, but you have to look carefully. While 90% of grocery items right now
By Tami Luhby, CNN New York CNN Business — Employers continued hiking wages to attract workers and hold on to existing staff during the third quarter. But the raises did not keep up with inflation — and the continued increase is unwelcome news for the Federal Reserve, since higher wages
By Allison Morrow, CNN Business New York CNN Business — No one expected the Federal Reserve to be able to smother inflation swiftly. But after seven months of rapidly rising interest rates, the central bank has hardly made a dent. Thursday’s look at the September consumer price data shows we’re
By Ryan Browne, CNBC Customers of beleaguered cryptocurrency lender Voyager Digital may find some solace in the news that FTX, the bitcoin exchange founded by billionaire Sam Bankman-Fried, is set to take on the company’s assets after winning a bankruptcy auction. After several rounds of bidding, FTX’s U.S. subsidiary was
By Andrew Osterland, CNBC Few things cause more financial distress and anxiety than a large slug of high-interest rate credit card debt. Millions of Americans of all income levels carry large balances on credit cards that charge very high interest rates. According to Federal Reserve data, the average annual percentage
By Andrew Osterland, CNBC Personal bankruptcy filings have fallen dramatically since the beginning of the coronavirus pandemic, but with interest rates rising and government relief waning, filing numbers will likely pick up through this year, say experts. “I’ve had more calls in the last few weeks than the previous six
By Vivekanand Jayakumar, The Hill Once again, U.S. consumers are sharply reorienting their spending patterns — the two-year-long pandemic-induced spending splurge on durable goods appears to be waning just as pent-up demand for services takes off. Despite inflation remaining near 40-year highs, overall consumption expenditure in the U.S. remains quite
U.S. President Joe Biden arrives for the meeting of European Union (EU) leaders in Brussels, Belgium, March 24, 2022. (Shutterstock) By Liz Peek, The Hill President Biden wants Americans to know: Curbing inflation is his top, top, top priority. He recently penned an op-ed published in the Wall Street Journal
By Tyler Pager, Danielle Douglas-Gabriel and Jeff Stein, Washington Post White House officials are currently planning to cancel $10,000 in student debt per borrower, after months of internal deliberations over how to structure loan forgiveness for tens of millions of Americans, three people with knowledge of the matter said. President
By Jeff Cox, CNBC Consumers kept spending in April, with retail sales rising about in line with Wall Street expectations despite an ongoing surge in prices. Monthly sales rose 0.9% overall, just below the Dow Jones estimate for a 1% increase, the Commerce Department reported Tuesday. Excluding autos, sales increased
