Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
European Heatwave Tests Grid Stability as AC Adoption Lags
A record heatwave in Europe is boosting air-conditioner sales for Samsung, LG, Midea, and Mitsubishi Electric, but grid stress and high power prices raise concerns about energy system resilience.
Boomer Wealth Tops $90 Trillion but Cash Reserves Are Thin, Posing Risks for Banks and Retailers
U.S. baby boomers control nearly $90 trillion in household wealth, yet their average liquid cash is only $100,250, signaling a key risk for firms dependent on retiree cash flow rather than net worth.
Social Security Faces Funding Gap by 2032; June Payment Schedule Finalized
Social Security's final June payment arrives June 24. Trustees project full benefits only through Q4 2032, with a 78% payout thereafter. July payments shift due to Independence Day.
Student Loan Autopay Discount Slashed Ahead of July Reset
Eligible federal Direct Loan borrowers will receive a temporary 1-point interest rate cut through autopay from July 1, 2026, to June 30, 2028, as new loan rates increase to between 6.52% and 9.07%.
Final June Social Security Payments Set for June 24; Trust Fund Depletion Looms
Social Security's final June payment lands June 24 for those born 21st-31st. Average benefit is $1,934.52, far below the $5,181 maximum. Trust fund depletion looms by 2032.
Fiji tourism boom raises questions about local economic benefits
Fiji Airways cabin crew earn FJ$3,000âFJ$4,500 monthly, 2.6 times minimum wage, while tourism arrivals hit 85,405 in May. InterContinental Fiji backs a surf program for local children, highlighting uneven benefits.
June Social Security Payments Wrap Up; SSI Recipients Face July Timing Shift
The last June Social Security checks go out June 24. SSI recipients will see two deposits in July but skip August, as the SSA adjusts for a Saturday calendar quirk.
Germany's Pension Reform Plan: Retirement Age to 68 by 2051, State Fund Proposed
Germany's pension commission recommends raising the retirement age to 68 by 2051 and establishing a state-run investment fund, challenging Chancellor Merz's coalition as aging population strains public finances.
US Mortgage Rates Slide to One-Month Low Amid Iran Deal, Treasury Yield Drop
US 30-year fixed mortgage rates dropped to 6.47%, their lowest in over a month, as a US-Iran framework deal pushed Treasury yields lower, offering modest relief to homebuyers while pending home sales rose 3.8% in May.