Near-retirement and retired Americans are increasingly anxious about their savings due to market volatility spurred by the trade war. Many are avoiding checking their accounts, while others are making portfolio adjustments, though some are unsure what more can be done. Experts warn of a possible recession, and older...
Trump's tariffs are causing significant disruptions to the US supply chain. Experts predict empty shelves, rising prices, and potential shortages, especially for low-margin goods, as early as May or June. A continued trade war could lead to higher unemployment, global market instability, and geopolitical tensions. Shipping bookings have...
LendingTree data reveals a surge in Americans using buy now, pay later (BNPL) loans for groceries, with late payments also rising. A survey found 25% of BNPL users are purchasing groceries this way, up from 14% in 2024. Late BNPL payments increased to 41%, indicating financial strain amid...
California's economy has surpassed Japan's, becoming the world's fourth-largest with a $4.1 trillion GDP in 2024. Governor Gavin Newsom attributes this success to investments in people and innovation but warns of threats from President Trump's tariffs. These tariffs, according to Newsom, have harmed Californian businesses and supply chains,...
Asian and US markets experienced significant gains, fueled by positive trade developments. Japan's Nikkei 225 surged 1.88%, South Korea's Kospi climbed 1.07%, and Hong Kong's Hang Seng rose 1.36%. This follows three consecutive days of growth on Wall Street, driven by tech stocks and optimism surrounding potential tariff...
March saw a 5.9% month-over-month decline in existing home sales, reaching 4.02 million units, according to the National Association of Realtors. High mortgage rates, exceeding 7% in January and February, significantly impacted affordability. While inventory increased nearly 20% year-over-year, reaching a 4-month supply, this hasn't significantly boosted...
Asian markets showed mixed results Thursday, mirroring Wall Street's gains. Japan's Nikkei 225 surged over 1%, while South Korea's Kospi fell 0.47%. Positive sentiment stemmed from potential progress in US-China trade relations and President Trump's assurance regarding the Federal Reserve Chair. South Korea reported a surprise GDP contraction...
US Treasury Secretary Scott Bessent sees a significant opportunity for a major US-China trade deal, contingent on China's commitment to economic restructuring. Bessent believes a deal is possible if China reduces its reliance on export-led manufacturing growth. His comments follow recent escalating tariffs imposed by both countries, causing...
Treasury Secretary Scott Bessent advocated for significant reforms to the IMF and World Bank's missions while affirming continued US leadership. His comments, delivered during the IMF/World Bank spring meetings, follow concerns about a potential US withdrawal under the Trump administration. Bessent defended the administration's trade actions, criticizing China's economic...
UK government borrowing exceeded expectations by nearly £15 billion in the year to March, reaching £151.9 billion. This surge, attributed to increased spending on pay and benefits despite higher tax revenue, puts pressure on Chancellor Rachel Reeves's fiscal targets. Reeves is traveling to Washington to negotiate a US...
