Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
U.S. Mortgage Rates Climb to Near 2026 Peak as Inflation Pressures Persist
Mortgage rates edge up to 6.52%, close to 2026 highs, as inflation and labor market strength keep borrowing costs elevated. Applications rise 10.8% but affordability remains strained.
Bank of Canada Holds Rate at 2.25% Amid Growth-Inflation Tug-of-War
Bank of Canada held its policy rate at 2.25% for a fifth time as weak growth and rising inflation create a monetary policy 'dilemma'; the Canadian dollar fell to a seven-month low.
Social Security Trust Fund Depletion Date Accelerated to 2032, Benefit Cuts Loom
Social Security's retirement and survivor trust fund is now forecast to be depleted by late 2032, a quarter earlier than last year's projection, leading to a 22% benefit cut if Congress fails to intervene.
Social Security Fund Depletion Accelerates to Late 2032
Social Security's retirement trust fund depletion date moved up to Q4 2032, one quarter earlier than last year, risking automatic 22% cuts if Congress fails to act.
U.S. Stock Futures Decline as CPI and Iran Tensions Heighten Fed Uncertainty
U.S. stock futures dropped premarket as investors awaited May CPI data, expected to show the fastest annual inflation since April 2023, with tech stocks leading declines amid rising oil prices and U.S.-Iran tensions.
Social Security Fund Depletion Accelerated to 2032, 22% Benefit Cut Looms
Social Security's retirement fund is now expected to run out of reserves by late 2032, forcing a 22% cut in benefits without congressional intervention, as demographic and tax changes worsen the outlook.
June 10 Social Security Payments Arrive Amid Looming Trust Fund Crisis
Social Security payments for June 10 are being distributed, but a report warns of a 24% benefit cut by 2032 if the trust fund is depleted.
Mortgage Rates Edge Lower, Yet Affordability Remains Elusive for Homebuyers
Mortgage rates eased to 6.48%, offering slight relief, but listing prices dropped 2.4% year-over-year to $429,500 amid persistent affordability challenges and rising geopolitical risks.
US Mortgage Rates Dip but Fail to Spur Demand as Listings Drop
Mortgage rates eased to 6.48% but applications fell 2.5% for a third straight week, as affordability gains remain marginal and Treasury yields climb.
Mississippi Taxpayers Face Final Deadline After Storm Extension Ends
Mississippi taxpayers have until Monday, June 8, to file and pay 2025 taxes after Winter Storm Fern relief ends. Missing the deadline will reinstate normal IRS enforcement.
Projected 3.9% Social Security COLA for 2027 May Not Materialize
Social Security's 2027 COLA is projected at 3.9%, but the final figure depends on July-September inflation; rising Medicare premiums could offset gains.
Mortgage Rates Dip but Spring Market Remains Tepid
US mortgage rates slipped to 6.48% but demand remains weak, with purchase applications at their slowest since April. High borrowing costs and tight budgets continue to weigh on the spring housing market.