Wednesday , November 29 2023

Tag Archives: inflation

Weekly markets wrap: European shares shine as US inflation slows

European stocks were looking up this week, following a slowdown in US inflation in October. ADVERTISEMENT The recent US inflation report surprised markets, with year-on-year inflation falling to 3.2% in October, down from 3.7% the month before and below analyst estimates of 3.3%. The news led to European stocks rejoicing …

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Average credit card balances top $6,000, a 10-year high

Persistent inflation has put many households under financial pressure — more cardholders are carrying debt from month to month or falling behind on payments. Credit card delinquency rates rose across the board, the New York Fed and TransUnion found. “These are consumers who are struggling to afford their everyday expenses,” said Charlie …

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Half of Current’s customers have multiple jobs

The need for second — and often third — incomes is mounting, according to a top digital bank executive. Current CEO Stuart Sopp finds almost half of the firm’s payment customers have more than one job. “If you’re having a paycheck over the past year, 20, 25% of paycheck depositors …

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How it impacts your money

The Federal Reserve left its target federal funds rate unchanged for the second consecutive time Wednesday. Even so, consumers likely will get no relief from current sky-high borrowing costs. Altogether, Fed officials have raised rates 11 times in a year and a half, pushing the key interest rate to a target range …

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