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Bessent defends U.S. dollar swap lines as Iran war harms global finances

Treasury Secretary Scott Bessent on Friday defended the possibility of the U.S. participating in currency swaps with allies in the Persian Gulf and Asia who are seeking financial backstops due to the Iran war. Discussions with those countries about U.S. dollar swap lines “are part of ongoing,…
Educational News

Trump administration finalizes federal student loan caps—what it means for borrowers

The Department of Education on Thursday finalized the student loan overhaul introduced in President Donald Trump’s “big beautiful bill,” also known as the Working Families Tax Cuts Act, which was signed into law in July. The final regulations include new borrowing limits on federal student…
Bankruptcy News

Credit Card Debt Hit $1.28 Trillion as Americans Save Less Despite Higher Incomes

Credit cards carried the load in Q4 as Americans piled another $44 billion onto their balances, pushing the total to $1.28 trillion, a 5.5% jump from last year. The New York Fed’s Q4 2025 report shows households leaning on revolving…
Government News

Treasury yields tick lower after DOJ drops Fed probe, paving the path for Senate to vote on Warsh

U.S. Treasury yields ticked lower Friday after the Justice Department abandoned a criminal investigation into Federal Reserve Chair Jerome Powell, paving the way for the Senate to vote on nominee Kevin Warsh as his replacement to head the central bank. The yield…
Legal News

Credit card APRs have an ‘economically meaningful’ impact on consumer spending, Boston Fed finds

Because of the extremely high interest rates, credit cards are one of the most expensive ways to borrow money. Even so, at least one-third of credit card users carry a balance from one month to the next, according to the Federal Reserve Bank…
Educational News

More than 7 million student loan borrowers face deadline to leave Biden-era repayment plan. What to know

Student loan borrowers will soon be removed from the Saving on a Valuable Education, or SAVE, plan, the Trump administration announced on Friday. The Education Department said it would send guidance to the 7.5 million people who signed up for the now-defunct repayment plan.…
Editorial News

New Executive Orders Aim to Promote Access to Mortgage Credit and Expand Construction of Affordable Homes

On March 13, 2026, President Donald Trump signed two executive orders aimed at reducing barriers to homeownership. These executive orders follow his commitment in his State of the Union address in February that addressing housing affordability would be a priority…
Bankruptcy News

Private credit’s ‘zero-loss fantasy’ is coming to an end as defaults and fund exits rise

Deteriorating asset quality, collateral markdowns and a growing rush for the exits are rattling private credit markets and prompting comparisons to the Global Financial Crisis. But a spike in loan defaults, while painful, could help shake out pockets of stress…
Government News

A new oil shock is building. The next few weeks of war will be decisive for the economy.

The clock is ticking on the U.S.-Israeli war in Iran. The emerging view from oil industry executives and analysts is that the economic and market fallout from the war could escalate sharply if the Strait of Hormuz isn’t reopened within roughly the next…
Bankruptcy News

Private credit’s cracks open door for Wall Street banks’ comeback: ‘The tug of war is just starting’

Wall Street banks may finally be getting a long-awaited opening to claw back market share from private credit lenders. After a decade in which private credit lenders grew rapidly and took over a large share of financing for leveraged buyouts,…