FICO will incorporate buy now, pay later (BNPL) loan data into some credit scores starting this fall. This affects 15% of American adults who used BNPL in the past year, primarily low-to-middle income individuals, women, and younger generations. While on-time payments will boost scores, late payments will negatively...
The US national debt has reached $37 trillion, fueled by recent tax cuts. This has led to a weakening dollar and increased borrowing costs, raising concerns about the long-term sustainability of US debt. Experts like Ray Dalio warn of potential consequences, including drastic spending cuts, tax hikes, increased money...
Trump's new bill, projected to increase the US deficit by $3.4 trillion over a decade, is causing alarm among economists. They warn that the already high national debt, coupled with the bill's increased spending and tax cuts, puts the US on a dangerous path. Increased deficits could lead...
Trump's tariffs initially caused US stock market drops and import surges, followed by a rebound in stocks and a slowdown in imports. While inflation remains low, economists warn that higher prices are likely to hit consumers eventually. The impact of potential future tariff increases remains uncertain, with experts predicting...
Conflicting job reports emerged this week. The official Bureau of Labor Statistics (BLS) report showed a 147,000 job increase in June, with unemployment falling to 4.1%. However, the ADP private sector report indicated a 33,000 job decrease. This discrepancy may reflect a growing divide within the US...
Federal tax credits for electric vehicles (EVs) have ended, impacting affordability. While EVs initially cost more, long-term savings on fuel and maintenance make them financially advantageous, even without the credits, according to experts. Studies show significant fuel cost savings over a car's lifespan, and EVs are ultimately less...
Strong June jobs data (147,000 jobs added, unemployment at 4.1%) boosted US stocks, bonds, and the dollar on Thursday. The Dow jumped 344 points, while the S&P 500 and Nasdaq hit record highs. Despite some concerns about private sector hiring weakness, the positive jobs report lessened investor anxieties...
Congress passed a bill including a temporary tax exemption for tips, allowing a $25,000 annual deduction from taxable income for most tipped workers. Those earning over $150,000 will still see tipped income taxed. The provision, part of a larger spending and tax package, is slated to expire in...
Despite a seemingly robust June jobs report showing low unemployment and job growth exceeding expectations, underlying issues reveal a less optimistic picture. While the headline figures are positive, longer unemployment durations, manufacturing job losses, and a decline in the average workweek signal potential economic weakness. The rise...
UK government borrowing costs have decreased, following a spike triggered by Chancellor Rachel Reeves' emotional appearance in Parliament. The yield on 10-year bonds dropped to 4.55%, down from 4.61%. Market analysts suggest this reflects support for Reeves, fearing a potential loss of fiscal control if she were to...
