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Consumers Hit the Wall, Turn Sour on the Future

Consumer sentiment fell in August, especially among Republicans, while inflation expectations increased, the University of Michigan said on Friday. The preliminary estimate for August slipped nearly 8% following two months of positive results, while the expectations index decreased by 8.7%. Coupled with…
Editorial News

Dollar edges up, loonie drops after U.S. announces tariffs

The U.S. dollar edged ⁠up on Monday, coming off its third weekly decline in four that sent the greenback to three-month lows as the U.S. Treasury promised to buy back more ​long-dated bonds, while details of sanctions ​on Iran were awaited. After last week’s ​announcement by the Treasury Department that…
Educational News

Education Department recalculates student loan forgiveness counts, setting some PSLF borrowers back

The U.S. Department of Education is reevaluating account histories for borrowers pursuing Public Service Loan Forgiveness — in some cases, reducing the number of qualifying payments and pushing those individuals further away from debt cancellation. PSLF, which was created in 2007, wipes away…
Bankruptcy News

US credit card debt climbs to $1.26tn, nearing last year’s record high

Mortgage and student loan balances saw ‘small decline’ with increases elsewhere, says post alongside Fed report Credit card debt in the United States is growing close to a record high, having crept up from $54bn to $1.26tn between April and…
Government News

US national debt passes $40tn after doubling in a decade

US national debt has more than doubled in a decade to reach a milestone $40tn (£29.4tn), Treasury figures show. The rise reflects years of heavy spending under both the Trump and Biden administrations, along with higher interest payments that have…
Legal News

US corporate AI debt surge tests investor limits as fatigue emerges

NEW YORK, Aug 21 (Reuters) – The wave of debt issuance funding the artificial-intelligence buildout is testing the limits of investor demand, with some large bond buyers warning that the market is showing signs of indigestion. While fund managers remain comfortable with…
Bankruptcy News

Credit card debt climbs to $1.26 trillion as ‘K-shaped’ divide persists, New York Fed research finds

Credit card balances are on the rise as of mid-2026, according to a new quarterly report on household debt from the Federal Reserve Bank of New York released Tuesday.  Balances rose by $21 billion in the second quarter to a collective $1.26 trillion…
Editorial News

U.S. budget deficit surged in July to highest level since March 2021

The U.S. budget deficit soared to its highest monthly level in more than five years amid a surge in Medicare costs and as interest on the federal debt continued to weigh on the nation’s fiscal picture, the Treasury Department reported…
Educational News

Student loan borrowers face steeper ‘marriage penalty’ under new repayment plan

Married student loan holders — and those soon tying the knot — face important tax and financial decisions, especially after recent changes to the federal lending system. The U.S. Department of Education’s new Repayment Assistance Plan, or RAP, increases the “marriage penalty” for…
Government News

U.S. Senate passes short-term funding bill to avert federal shutdown before election

The Republican-led U.S. Senate passed a temporary measure to fund federal agencies through December 11 on Saturday, in a move intended to avert a crippling federal government shutdown weeks before the November midterm elections. The Republican-controlled House of Representatives passed…