Inflation

Consumers forecast inflation at 3.3% this time next year and are less confident that their earnings will rise as much as they had expected.

The credit bureau TransUnion is out with a report showing that borrowers aged 22 to 24 are carrying an average of $2,834 in credit card debt — about a quarter more than millennials in the same age range a decade ago.

More than 60% of people over 50 are worried they won’t have enough money to live on in retirement, which is more than last year, according to a recent survey from AARP.

Inflation continues to be a key factor but richer folks have greater protection from its effects.

This marks the end of a six-quarter streak of GDP growth of 2% or more. But the downshift might not be cause for worry just yet.

The greenback is so strong that Japan and South Korea have complained.

Administrative costs and a lack of political will are leading some states to turn down a new food aid program for children.

From 1984 to 2023, the median cost of a new home rose from $79,900 to $417,700, more than double the rate of overall price inflation.

That's good for workers, who have been experiencing positive real wage growth since May 2023.

Powell discusses how monetary policymakers arrive at consensus, the value of transparency and the issues that influence interest rate decisions.