At a time when the market expects interest rates to continue dropping, the United Kingdom’s Financial Conduct Authority (FCA) is cautioning banks and building societies about lowering the rates they offer on consumers’ savings faster than they raised them. The regulator said in an update...
More consumers are making their loan payments on time, aided by slower inflation and other trends. Late payments on loans have leveled off after increasing earlier in the year, Reuters reported Friday (Sept. 13). Delinquency rates across all household liabilities — including credit cards, auto...
Although jobless claims newly reported for the past week were only slightly higher, the psychological effect may be one where consumers are more cautious about spending. The U.S. Department of Labor said in a Thursday (Sept. 12) press release that the number of Americans who...
The only question surrounding rate cuts from the Federal Reserve boils down to not “when?” but … “how much?” The central bank seems all but certain to tamp down interest rates, cutting the Fed Funds rate for the first time in almost exactly four years....
July 25, 2024
The newest reading on gross domestic product (GDP) — for the second quarter, only a few weeks in the books — shows a quickening pace of growth. And, yes, consumers are still spending, but the pace is slowing. Savings and disposable income growth rates are slowing, too, indicating that the 2.8% annualized pace seen in […]
May 24, 2024
Generation X consumers, baby boomers and seniors all allocate more than 60% of their monthly incomes to housing, supplies and other regular bills. Generation Z consumers, meanwhile, allot just 47%...
March 04, 2024
Consumers are now saving less money for the proverbial rainy day than they were a year ago. The personal savings rate in January was 3.8%, which was higher than December’s 3.7% but...
March 01, 2024
The rise of the gig economy has transformed work for millions of individuals. From freelance creatives to ridesharing drivers, gig workers are pursuing financial independence on their terms, redefining the...
October 06, 2024
European consumers are saving at higher rates than before COVID as their American counterparts spend. As the Financial Times (FT) noted in a report Sunday (Oct. 6), savings in both Europe and the U.S. jumped during the pandemic when people were confined to their homes. However, Americans have since upped their spending, while Russia’s invasion […]
September 18, 2024
At a time when the market expects interest rates to continue dropping, the United Kingdom’s Financial Conduct Authority (FCA) is cautioning banks and building societies about lowering the rates they...
September 13, 2024
More consumers are making their loan payments on time, aided by slower inflation and other trends. Late payments on loans have leveled off after increasing earlier in the year, Reuters...
September 04, 2024
U.S. Bank is introducing a pair of savings and credit rewards products. Released under the bank’s Bank Smartly program, these offerings are designed to work in tandem to let users...
