US consumers on lower incomes face loan stress while banks pull back

U.S. borrowers on lower incomes are increasingly struggling to keep up with their loan payments, according to recent data and bank executives, prompting banks to become more cautious about dishing out ... Read More

Average American debt statistics 2024

Another way to consider the amount of debt in the U.S. is through calculations based on the overall U.S. national debt. As of April 2024, the U.S. national debt was above $34.6 trillion. Given the ... Read More

American consumers are growing worried about a US debt default

US consumer ... debt ceiling has dragged on for weeks and is inching closer to the day the federal government will not be able to fully meet its financial obligations. Consumers are now taking ... Read More

Expert warns consumers to stop avoiding their credit card debt

It can be easy to fall into the trap of not wanting to deal with your debt. Consumer Investigator Rachel DePompa speaks with Leslie Tayne about why you shouldn't ignore your debt. Read More

Consumers spend more than $1 trillion on interest payments, largely due to increasing credit card debt

The "personal interest payments" line of BEA’s report ... Federal Reserve Bank reported. "As inflation became a burden and government payments ended, consumers were willing to take on more debt ... Read More

‘Extraordinary’ U.S. government debt may mean prolonged bond-market volatility

Roughly $27.5 trillion of debt issued by the U.S. Treasury is in the hands of the public, more than twice as much as 10 years ago and over six times as ... Read More

US Economy News Today: Consumers Predict Higher Inflation

Today, consumer sentiment came in slightly lower and one Federal Reserve official reiterated ... I just think it will take more time,” Collins said. “It’s premature to tell whether the ... Read More

Financial Literacy Month is a great time to get control of your credit card debt and finances.

Carrying credit card debt is a burden to the cardholder and represents lost opportunities for investments in Memphis’ economy, such as a home purchase or renovation. With April being Financial ... Read More

The Federal Reserve Needs To Raise Interest Rates 0.25%

The Federal Reserve should raise their Fed funds target rate by 0.25% at their May 1 meeting. Explore more details here. Read More

Take it to the (Credit) Limit: Americans Lean on Credit Cards Amid Financial Strain

How do Americans cover unexpected expenses when, according to a Lending Club Corporation survey, 62% of consumers live paycheck to paycheck? Many rely on their credit cards to get by. Read More

Federal Reserve slashing rates ahead of Election Day would likely just superficially boost US wallets: experts

The Federal Reserve slashing interest rates this year, which it's anticipated to do, would provide voters temporary financial relief with long-term negative effects, economist says. Read More

Consumer inflation stayed high in March

Clothing costs jumped 0.7% in March, the second straight month of sizable increases, though they have barely risen over the past year. Grocery prices, though, were unchanged last month and are just ... Read More