Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
Student Loan Overhaul: SAVE Plan Borrowers Face July 1 Deadline
The SAVE student loan plan ends July 1, forcing 6.5 million borrowers to select a new repayment option within 90 days or be moved automatically. The transition faces technical glitches and confusion.
Halland's Tourism Sector Sees Uptick in International Visitors Ahead of Summer Season
Halland tourism firms report a 14.2% rise in foreign guest nights, outpacing Sweden's 7.7% average, with nearly 70% expecting a good 2026 season.
New York Begins Distributing $2B in STAR Property Tax Relief to Nearly 3 Million Homeowners
New York has begun distributing over $2 billion in STAR property-tax relief to nearly 3 million homeowners, with most receiving $350-$600 and seniors $700-$1,500.
Oil Price Plunge on Iran Deal Drives Mortgage Rates to One-Month Low
Mortgage rates hit a one-month low of 6.56% after oil prices fell sharply on a tentative U.S.-Iran deal. Markets now focus on the Fed's upcoming rate decision.
IMSS Modalidad 40 Costs Surge to 12,703 Pesos Monthly in 2026
The monthly cost of IMSS Modalidad 40 reaches 12,703 pesos in 2026 as contribution rates climb. Experts caution that missed payments and unrealistic projections can turn the scheme into a financial trap for Ley 73 workers.
Bezos Proposes Zero Federal Income Tax for Half of US Earners
Jeff Bezos has reignited debate by proposing zero federal income tax for the bottom half of U.S. earners, a move analysts say would most benefit middle-income households. Democratic legislation would cost $1.6 trillion over 10 years, funded by a surtax on high earners.
Social Security Trust Fund Depletion Moves Up to Late 2032, Pressuring Congress
Social Security's retirement trust fund depletion date has moved up to late 2032, a quarter earlier than last year, threatening 22% benefit cuts without Congressional action.
BofA CEO: Consumers Shift to Bargain Hunting Amid Inflation Squeeze
Bank of America card spending grew 5.1% YoY in May, fastest in nearly four years, but CEO Brian Moynihan warns consumers are trading down on purchases like pet food as inflation outpaces wage growth.
Mortgage Rates Linger Near 2026 Highs as Fed Meeting Looms
U.S. mortgage rates are hovering near their highest levels since 2026, with the 30-year fixed averaging 6.57% as borrowers await the Federal Reserve's next move.
Social Security 2027 COLA Estimates Rise as Inflation Stays Elevated
Early estimates for 2027 Social Security COLA rise to 3.8%-4.7%, driven by May CPI-W inflation of 4.4%. Lawmakers consider $200 monthly benefit boosts and solvency measures.
Social Security 2027 COLA Estimate Climbs to 3.8% on Sticky Inflation
The Senior Citizens League now estimates a 3.8% Social Security COLA for 2027, driven by May's 4.4% CPI-W jump. This would boost average monthly benefits by $77.
Sam's Club Santa Clarita Fuel Station to Close for Three Months
Sam's Club's Santa Clarita fuel station will close from June 15 to Sept. 18 for upgrades, adding new pumps. The main warehouse stays open, but members need alternative gas options.