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However, the company has ruled out a cyberattack

By Mark Huffman of ConsumerAffairs

• Widespread disruption: Verizons wireless network suffered a major outage Wednesday affecting voice, texting, and mobile data services for millions of users nationwide.

• Service restored after hours: The outage persisted for much of the day but was largely resolved by late Wednesday night, with Verizon offering account credits to affected customers.

• Public safety concerns and scrutiny: Some cities warned that emergency calling could be unreliable during the outage, and the FCC said it will review the incident.

Verizon has not yet disclosed the cause of Wednesdays massive outage that disrupted service to hundreds of thousands of customers nationwide, affecting wireless voice, data, and texting services for about 10 hours.

Service interruptions began around noon ET, peaking with over 170,000 reports on Downdetector, forcing many phones into SOS mode and prompting emergency alerts in cities like New York and Washington, D.C. Verizon confirmed engineers were investigating but provided no specifics on the trigger, ruling out a cyberattack.

Resolution and response

Reports of service disruptions spanned the country, hitting major metropolitan areas including New York City, Houston, Philadelphia, Dallas, Miami, Chicago, and Atlanta. Tens of thousands of users logged outage incidents at the peak of the disruption, and localized alerts from city officials advised residents to use landlines or alternative carriers if they needed to contact emergency services like 911.

News outlets and outage monitors recorded elevated report volumes throughout the afternoon, though numbers varied by source. While some trackers showed over 1.5 million customer reports by early evening, other data indicated several hundred thousand users were affected at peak times.

Company response and resolution

Verizon acknowledged the issue publicly and confirmed it had deployed engineering teams to address the service interruption. By approximately 10:20 p.m. ET Wednesday, the company said the primary outage was resolved and advised users still experiencing trouble to restart their devices to reconnect to the network.

In a message to customers, Verizon apologized for the disruption and announced it would offer account credits to those who were impacted by the outage.

The outage drew attention from regulators, including the Federal Communications Commission, which said it would review the incident and take appropriate action given concerns about communications infrastructure reliability and the potential strain on emergency services.

However, getting a job remains a challenge

By Mark Huffman of ConsumerAffairs

• U.S. economic growth modest but broadening, with activity rising in most regions after months of stagnation.

• Labor markets steady but weak hiring persists, as businesses fill vacancies rather than expand payrolls.

• Price pressures remain persistent, with moderate inflation and tariff-related cost pass-throughs affecting businesses and consumers.

The Federal Reserves latest Beige Book, released Wednesday, paints a cautiously optimistic picture of the U.S. economy, indicating a modest uptick in activity across most parts of the country while highlighting ongoing labor and inflation challenges.

Compiled from anecdotal reports by the 12 regional Federal Reserve banks, the report found that overall economic activity expanded at a slight to moderate pace in eight districts, with only a handful reporting stagnation or contraction. Eight districts reported stable employment levels, reflecting a labor market that is not rapidly adding jobs but also not deteriorating sharply.

According to the Beige Book, economic activity has improved compared with the last several reporting cycles, when many districts signaled little change. Consumers continued to spend, particularly during the holiday season, though the pace varied by income group.

Affluent consumers drive spending

Higher-income households were more likely to maintain or increase discretionary spending, while lower- and middle-income consumers remained price sensitive and selective in their purchases.

Business investment showed signs of stabilization, with some firms reporting steady orders and improved revenues, though others noted that uncertain demand kept capital spending cautious. Service sectors such as travel and hospitality saw stronger performance in certain regions, partly buoyed by sustained tourism and leisure activity.

Despite the uptick in overall activity, the labor market remains subdued. Most districts reported that employment levels were largely unchanged, with firms more focused on filling existing vacanciesoften hard to recruit forthan on broad new hiring initiatives. Technical and specialized occupations, such as in engineering and healthcare, continued to experience recruitment challenges.

The report noted that the impact of emerging technologies like artificial intelligence on hiring decisions is still limited, though some firms are beginning to adjust their workforce strategies in anticipation of future technological shifts.

Inflation and tariffs

Price growth remained a consistent theme in the Beige Book. Most districts reported moderate increases in prices, with tariff-related cost pressures now being passed along to customers as inventories purchased before tariff hikes are depleted. This has contributed to rising costs for businesses and consumers alike.

Energy, healthcare, and insurance expenses were also flagged as key contributors to overall cost pressures in several regions. While wage growth has eased from prior peaks, it has yet to fully align with inflation levels that many businesses and households find challenging.

Economists say the Beige Books nuanced viewshowing modest growth alongside persistent labor and price constraintssuggests that the Federal Reserve may maintain a cautious stance when setting interest rates at its next policy meeting. Recent indicators outside of the Beige Book also point to subdued job growth and an inflation rate above the Feds 2% percent target.

But inventory levels remain tight to start 2026

By Mark Huffman of ConsumerAffairs

• Existing-home sales rose 5.1% in December, marking the strongest seasonally adjusted pace in nearly three years, according to the National Association of REALTORS.

• Sales increased month over month in every region, with the South posting the largest gain, while inventory tightened sharply heading into year-end.

• Home prices continued to climb nationally, extending a nearly 2-year streak of annual price increases, even as mortgage rates edged lower.

Sales of existing homes rebounded in December, offering a late-year boost to a housing market that had struggled under the weight of high prices and borrowing costs for much of 2025.

The National Association of Realtors reported that existing-home sales increased 5.1% from November to a seasonally adjusted annual rate of 4.35 million. Sales were also 1.4% higher than a year earlier, signaling modest improvement after a prolonged slowdown

2025 was another tough year for homebuyers, marked by record-high home prices and historically low home sales, said Lawrence Yun, NARs chief economist.

However, in the fourth quarter, conditions began improving, with lower mortgage rates and slower home price growth.

Strongest in three years

Yun noted that Decembers results were particularly encouraging. After seasonal adjustments, home sales were the strongest in nearly three years, with gains spread across all four major regions of the country.

Inventory remains a key constraint, however. Total housing inventory fell to 1.18 million units in December, down 18.1% from November, though still 3.5% higher than a year earlier. At the current sales pace, that represents a 3.3-month supply of homes, down from 4.2 months in November.

Inventory levels remain tight, Yun said. With fewer sellers feeling eager to move, homeowners are taking their time deciding when to list or delist their homes. He added that, as in prior years, more listings are expected to appear beginning in February.

Prices still going up

Prices continued to rise nationally, underscoring the ongoing imbalance between supply and demand. The median existing-home price for all housing types reached $405,400 in December, up 0.4% from a year earlier. That marked the 30th consecutive month of year-over-year price increases.

Single-family home sales climbed 5.1% from November to an annual rate of 3.95 million and were 1.8% higher than a year earlier. The median price for a single-family home was $409,500, up 0.2% year over year.

Condominium and co-op sales rose 5.3% month over month to an annual rate of 400,000, but were down 2.4% from December 2024. The median price in that segment increased 1.5% to $364,400.

While affordability challenges remain, the combination of easing mortgage rates and early signs of increased listings could shape a more active housing market as 2026 begins.

Service interruption affects mostly Verizon but some other customers also report problems