Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
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.
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.