Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
Student Loan Repayment Cliff Looms for 1.5 Million as SAVE Exit Wave Hits 2028
About 1 million borrowers have left the SAVE program, but 20% picked plans that end in 2028, hinting at another repayment crunch for up to 1.5 million.
Maine Home Prices Reach New High as Inland Markets Surge
Maine's median home price hit a record $436,000 in June 2026, with inland counties seeing the fastest gains. Sales rose 7.3%, outpacing national trends.
June CPI Data Set to Test Wall Street's Fragile Optimism
The June CPI report, Fed testimony, and bank earnings will test the S&P 500's rally. Lower gas prices may ease headline inflation, but core inflation and service costs remain sticky.
Fort Wayne Tuffy Franchisee Files Subchapter V Bankruptcy Amid National Surge
Automotive Solutions Inc., running two Tuffy Tire & Auto Service shops in Fort Wayne, filed for Subchapter V bankruptcy on July 7, 2026, amid a 50% national surge in such filings.
Brazil Defers Gasoline Subsidy Removal, Fueling Fiscal Jitters
Brazil delays decision on gasoline subsidy removal until next week, prioritizing rural debt restructuring and citing Iran conflict uncertainty, reigniting market inflation and fiscal worries.
Mortgage Rates Edge Down but Remain Above 6% Threshold
Mortgage rates fell to a seven-week low of 6.43% per Freddie Mac, but daily rates remain in the mid-6% range, keeping pressure on homebuyers and refinancing.
Walmart Slashes Beef Prices as Political Pressure Mounts on Grocers
Walmart reduces prices on beef and summer essentials as Washington urges grocers to lower costs. The strategy pressures rivals Kroger and Amazon.
US Jobs Miss Estimates as Labor Force Shrinks, Fed Rate Hike Odds Dip
US payrolls rose only 57,000 in June, well below the 110,000 forecast, as a sharp drop in labor force participation masked underlying weakness. Fed rate hike odds declined.
July Social Security Calendar Creates $11.5 Billion SSI Timing Shift
July's six deposit dates pull August SSI cash forward, affecting daily spending and bank balances without changing total benefit income.