Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
June Social Security Payout Schedule: Key Dates for Retirees
SSI payments go out June 1, followed by Social Security checks on June 10, 17, or 24 based on birth date. The 2026 COLA boost of 2.8% is included.
US Mortgage Rates Hit 9-Month Peak, Refinancing Plunges
US mortgage rates climbed to 6.65% last week, the highest since August 2025, sending refinance demand down 18% and total applications down 8.5%.
Final May Social Security Payments Scheduled for Wednesday
Social Security sends final May payments Wednesday for birthdays 21st-31st. June SSI starts Monday. $137.4B paid in April to 75.5M recipients.
Social Security COLA for 2027 Projected at 3.9% as Inflation Pressures Mount
Social Security's 2027 COLA is projected at 3.9% after April inflation data, but rising costs may erode gains for retirees.
New Fed Chair Warsh Faces Inflation Test as Rate Hike Odds Rise
New Fed Chair Kevin Warsh faces an early test as April PCE inflation data looms and policymakers signal possible rate hikes if inflation stays above target.
SoFi Holds Steady as Traders Pivot to PCE Data
SoFi shares ended the week nearly unchanged at $15.62, with traders focused on Thursday's PCE inflation report for clues on rate direction.
Bezos Calls for Eliminating Federal Income Tax for Bottom Half of Earners, Clashes with NYC Mayor
Jeff Bezos advocates for eliminating federal income taxes for the bottom half of U.S. earners, opposing NYC Mayor Mamdani's proposed tax on luxury second homes. The tax policy debate intensifies.
Seniors Group Raises 2027 Social Security COLA Forecast to 3.9%
The Senior Citizens League lifted its 2027 Social Security COLA estimate to 3.9%, citing rising energy, food, and housing costs, which would add roughly $81 per month to the average retired worker's benefit.
Fed Officials Signal Possible Rate Hikes Amid Sticky Inflation
Fed minutes show most officials may hike rates if inflation stays above 2%, shifting market expectations from cuts to possible increases.
2026 Earnings Test: Early Social Security Filers Face $24,480 Cap
Social Security claimants under full retirement age in 2026 will see benefits reduced if earnings exceed $24,480, with $1 withheld per $2 over the limit. The cap rises to $65,160 in the year full retirement age is reached.
Warsh Confirmed as Fed Chair Amid Stubborn Inflation, Rate Cut Bets Fade
Kevin Warsh wins Senate confirmation as Fed chair as April inflation data (CPI +3.8% YoY, PPI +6.0% YoY) complicates rate cut outlook; markets now see 71% chance of no cuts in 2026.
US Retail Sales, Jobless Claims in Focus After Inflation Data Surprise
April retail sales and weekly jobless claims are set for release at 8:30 a.m. EDT, with import-export prices and business inventories also due.