Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
NJ Transit Secures $302M State Boost as Fare Revenue Stays Flat
NJ Transit approved a $3.5B operating budget with state direct aid rising 31% to $302M, while fare revenue holds at $980M, underscoring fiscal challenges.
Retirement Savings Target Drops to $1.2M as Plan Borrowing Surges 59%
Americans now target $1.2 million for retirement, down from $1.28 million, as 401(k) borrowing surges 59% and contribution rates fall, per Schroders.
Social Security COLA for 2027 Could Add Up to $63 Billion in Payments
Projected 2027 Social Security COLA of 3.6% to 3.8% adds $59.6-$63 billion to annual payments, with monthly checks rising $74-$75 on average.
Mortgage Rates Can Drop Without Fed Action, but Bond Math Shows Limits
U.S. mortgage rates can fall without a Fed cut, but bond market math shows the limits. The 30-year rate hit 6.65%, with purchase applications down 7.3%.
Illinois Lottery Sales Flat, Income Plunges 26% as Prize Costs Surge
Illinois Lottery sales dipped 0.3% in May, but operating income tumbled 26% as prize costs rose sharply, leaving a $124M June target.
June CPI Drop Lowers Odds for 3.8% Social Security COLA in 2027
June's CPI drop lowers the probability of a 3.8% Social Security COLA for 2027, with the current Q3 average pointing to a 3.1% increase. The gap represents an $11.6 billion annualized difference in federal spending.
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.