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Angela Weiss | AFP | Getty ImagesAs she unveiled her most detailed economic plan yet this week, Democratic presidential nominee Kamala Harris pledged to fight price gouging in order to rein in voters' grocery costs. Although Harris released more detail Wednesday as part of her 82-page economic plan, it's still unclear what price hikes her administration would see as illegal "price gouging." Generally, Republicans support fewer economic regulations, although Trump has suggested limiting food imports as a way to lower grocery prices. What is price gouging? Thirty-seven U.S. states already have laws that forbid price gouging in emergencies.

Persons: Kamala Harris, Doug Emhoff, Angela Weiss, Donald Trump, Harris, it's, Walz, Trump, YouGov, Rakeen Mabud, Mabud, Mario Tama, markups, —, Jerome Powell —, Sarah Gallo, Brian Cornell, Jharonne Martis, Brandon Bell, Kroger, Arun Sundaram, Sundaram, JBS, Joe Raedle Organizations: Democratic, AFP, Getty, Trump, Bureau of Labor Statistics, Voters, Federal Reserve Bank of Kansas, Consumer Brands Association, Federal Trade, Department of, Kroger, Procter, Gamble, Albertsons, Federal Trade Commission, CFRA Research, Pilgrim's Pride Corporation Locations: Coraopolis , Pennsylvania, Los Angeles , California, Federal Reserve Bank of Kansas City, Houston , Texas, Miami , Florida

☆ Home buying in the U.S. by county: Cost, availability, competition and more
▼ + stars: | 2024-09-26 | by ( Jasmine Cui | Jasmine Cui Is A Reporter For Nbc News. | ) www.nbcnews.com time to read: +3 min

The conditions on the ground can vary widely across state and even county lines. The higher the index value, the higher the difficulty. A low index value, of 10 for example, suggests better purchasing conditions for a buyer — low interest rates, ample homes for sale. Chambers County, Texas, near Houston, is one of the 50 least difficult places to buy in in the country as of May, with low scores on scarcity, cost and competition. For July, the national Home Buyer Index was 85.3, nearly even with June and two points lower than it was this time one year ago.

Organizations: NBC, Federal Reserve Bank of Atlanta, Chambers, U.S Locations: Chambers County , Texas, Houston, Coconino County , Arizona

☆ Americans have an average of $6,300 in credit card debt: Here's how much you'd pay monthly to clear it in 1, 2 or 3 years
▼ + stars: | 2024-09-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

The average American has thousands of dollars of credit card debt. As a whole, Americans hold a record $1.14 trillion in credit card debt as of the second quarter of this year, according to the Federal Reserve Bank of New York's August report. "Credit card debt is easy to get into and hard to get out of," Rossman says. Carrying credit card debt can cost youCarrying a balance from month to month can make your credit card debt more expensive in the long run due to accruing interest. How to pay off your credit card debt

Persons: Ted Rossman, Bankrate, Rossman, it's Organizations: Federal Reserve Bank of New, CNBC Locations: LendingTree

☆ Americans are drowning in credit card debt. Trump’s proposed cap on interest rates probably won’t help
▼ + stars: | 2024-09-24 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

At $1.14 trillion, Americans’ credit card debt is at a record high, according to data from the Federal Reserve Bank of New York. “While working Americans catch up, we’re going to put a temporary cap on credit card interest rates,” Trump said at a rally last week. You may not be able to count on your credit card for purchasesThe average American has racked up $6,500 in credit card debt, according to Experian data from the third quarter of last year. The reason: Interest rates are how credit card companies manage the risk that a customer won’t pay their credit card bill on time. Your favorite credit card rewards could be jeopardizedEven if you don’t currently have any credit card debt and have a top-tier credit score, you could be left worse off from a 10% credit card fee cap.

Persons: New York CNN —, Donald Trump’s, ” Trump, Republican Sen, Josh Hawley, Sen, Bernie Sanders, Alexandria Ocasio, Matt Schulz, “, Schulz, Karoline Leavitt, ” Leavitt, Banks, Joe Biden’s, ” Schulz, ” Organizations: New, New York CNN, Federal Reserve Bank of New, Republican, CNN, Trump Locations: New York, Federal Reserve Bank of New York, Congress, Alexandria, Cortez

☆ CNBC Daily Open: Fedspeak reassures markets
▼ + stars: | 2024-09-24 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets regain momentumU.S. markets rose Monday, with the S&P 500 and Dow Jones Industrial Average notching fresh closing highs. Asia-Pacific stocks mostly climbed Tuesday, with the Chinese and Hong Kong markets popping over 3% on Beijing's announcement of policy easing measures. PBOC policy easingThe People's Bank of China Governor Pan Gongsheng on Tuesday announced a cut to banks' reserve requirement ratio.

Persons: Neel Kashkari, The Beverly Hilton, Pan Gongsheng Organizations: Federal Reserve Bank of Minneapolis, The Beverly, CNBC, Dow Jones, People's Bank of China, Boeing, Tech, Big Tech, Companies, Nomura Locations: Beverly Hills , California, U.S, Asia, Pacific, Hong Kong, China, Beijing

☆ Boeing machinists on picket lines prepare for lengthy strike: 'I can last as long as it takes'
▼ + stars: | 2024-09-21 | by ( Leslie Josephs | ) www.cnbc.com time to read: +7 min

Matt Mills Mcknight | ReutersRENTON, Wash. — Cash-strapped Boeing is facing mounting costs from an ongoing machinist strike as workers push for higher pay. The financial cost of the strike on Boeing depends on how long it lasts, though ratings agencies have warned that the company could face a downgrade if it drags on too long. Boeing 737 Max planes sit at the airport in Renton, Washington. Boeing Machinists union members count votes to accept or reject a proposed contract between Boeing and union leaders and whether or not to strike if the contract is rejected, at the Aerospace Machinists Union Hall in Seattle, Washington, on September 12, 2024. Boeing's most recent offer included 25% general wage increases over a four-year deal and was endorsed by the machinists union, the International Association of Machinists and Aerospace Workers District 751.

Persons: Matt Mills Mcknight, Cash, Boeing machinists, Boeing hasn't, Kelly Ortberg, Leslie Josephs, Louis, Jake Meyer, Meyer, Ron Epstein, Jason Redmond, today's, Ortberg, Biden, Pete Buttigieg, CNBC's Organizations: Boeing, Reuters, CNBC, Max, state's, Financial Management, Federal Reserve Bank of St, Bank of America, Aerospace Machinists, Hall, AFP, Getty, International Association of Machinists, Aerospace Workers, Workers Locations: Renton , Washington , U.S, Reuters RENTON, Wash, Seattle, Pacific Northwest, Renton , Washington, Renton, machinists, Washington, South Carolina, Seattle , Washington, Pacific, Oregon

Read previewNikki, a recent college graduate, has been struggling to find a job after completing her degree in biochemistry this year. While a cooling job market has made it harder for Americans of all ages to find work, young college grads are among the groups being hit the hardest. This means young college grads have been more likely to be unemployed than the broader population, even as the job market has returned to a more normal post-pandemic state over the past two years. "If you don't have a job, if you're a new grad, finding a job is actually unusually difficult." AdvertisementAre you a recent college graduate who's struggling to find a job?

Persons: —, Nikki, She's, Zers, grads, Julia Pollak, Pollak, Gen Zers, that's, Nick Bunker, who's Organizations: Service, Business, Federal Reserve Bank of New, LinkedIn, Federal Reserve Locations: Federal Reserve Bank of New York

☆ 3 couples who recently got mortgage interest rates under 3% share how they did it
▼ + stars: | 2024-09-18 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +10 min

Read previewOver the past few years, US mortgage rates have fluctuated wildly, leaving both homebuyers and sellers scrambling. AdvertisementThis can lead to significantly lower interest rates, making monthly mortgage payments more affordable and saving thousands over the life of the loan. The Federal Open Market Committee, which oversees US monetary policy, is expected to cut interest rates at its meeting this week. This could lead to further declines in mortgage rates in the coming months. Here are the stories of three homebuying couples who secured mortgage rates below 3% since March 2023 using assumable mortgages.

Persons: —, Louis, Freddie Mac, aren't, Grace Lucchese, Mickey Ricard, Boston —, Lucchese, Ricard, Riccard, Brian Sankey, Fort Knox, Sankey, Brian Sankey Sankey, wouldn't, Amy Yzaguirre, Yzaguirre, I've Organizations: Service, Federal, Fed, Federal Reserve Bank of St, Business, Federal Housing Administration, Department of Veterans Affairs, Market Committee, Boston, Lucchese, assumable Veterans Affairs, Veterans Affairs, Army, Toyota Tacoma Locations: Lucchese's, Sudbury , Massachusetts, Boston, couple's Massachusetts, Elizabethtown , Kentucky, Fort, Elizabethtown, Oregon, Idaho, Tigard, Portland, Sherwood

But a series of data points showing worsening economic conditions has made some analysts believe a 0.5% cut is more likely — and perhaps even necessary. “We do not seek or welcome further cooling in labor market conditions,” Fed Chair Jay Powell said in a speech last month. “A (0.5%) cut is usually done in emergencies,” like the Covid-19 pandemic, said Mark Zandi, chief economist at Moody’s financial group. Mortgage interest rates have hit their lowest level since February 2023, while auto loan rates are also falling. A 0.5% cut would more directly affect rates tied to the fed funds rate, including credit cards, home equity lines of credit and small-business loans.

Persons: Steve Liesman, Jay Powell, Bill Dudley, ” Dudley, Preston Mui, Mui, ”, “, Mark Zandi, Greg McBride, ” McBride Organizations: Federal, CNBC, Wall, Minneapolis Federal Reserve, Federal Reserve Bank of New, Bloomberg News, Fed, Bankrate Locations: Minneapolis, Federal Reserve Bank of New York, America

☆ Elizabeth Warren calls for emergency-like Fed rate cut ASAP
▼ + stars: | 2024-09-17 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —The American economy appears to be just hours away from a major milestone: The first interest rate cut from the Federal Reserve since Covid. Yet there remains an unusual amount of drama over the magnitude of that rate cut, with some in Washington calling for a supersized move. Massachusetts Democratic Sen. Elizabeth Warren wants the Fed to slash interest rates at a pace rarely seen outside of a full-blown crisis. “It is clearly the time for the Fed to cut rates. For instance, in early 2008 the Fed slashed interest rates by three-quarters of a point or more on three occasions.

Persons: Massachusetts Democratic Sen, Elizabeth Warren, Jerome Powell, Warren, “, ” Warren, Sheldon Whitehouse, John Hickenlooper, Powell, Bill Dudley, “ dawdling, Dudley, ” Dudley, panicking, David Kelly, ” Kelly, ” Organizations: New, New York CNN, Federal Reserve, Massachusetts Democratic, Sens, Wall, Fed, Federal Reserve Bank of New, CNN, Democrats, Asset Management Locations: New York, Washington, Massachusetts, Federal Reserve Bank of New York

☆ 'Rush' hour isn’t what it used to be. Working 10-to-4 is the new 9-to-5, commuting data shows
▼ + stars: | 2024-09-03 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Afternoon commuters sit in traffic on southbound Interstate 5 near downtown San Diego on March 12, 2024. Kevin Carter | Getty Images"Rush" hour isn't what it used to be. Ridership sank during the pandemic, Federal Reserve Bank of St. Louis data shows, and never fully recovered. The result is a surge in traffic congestion throughout the peak midday and evening hours, according to Pishue. "Pre-Covid, the morning rush hour would be a peak and then the evening peak would be much larger," he said, describing two apexes with a valley in between.

Persons: Kevin Carter, Bob Pishue, Louis, Gallup Organizations: INRIX Inc, Midday, Federal Reserve Bank of St Locations: San Diego

☆ Markets are now wondering whether the Fed might cut by half a point in September
▼ + stars: | 2024-08-23 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Traders continued to price in a greater likelihood that the Fed will kick off what is expected to be a protracted easing campaign in September with a quarter percentage point, or 25 basis point, reduction. "My base-case scenario is that we are on a journey of 25 basis point cuts, probably for the next eight meetings, a couple hundred basis points cumulative," economist Paul McCulley said on CNBC's " Squawk on the Street ." "But if we see weaker growth, and particularly weaker jobs, then I think we could have a bit of front-loading and start the process with 50 basis point cuts." That, among other vows to support the economy now that inflation has waned, provided some indication that a 50 basis point move is at least on the table. Markets expect the central bank to knock off a full percentage point this year and at least that much in 2025.

Persons: Jerome Powell, Paul McCulley, Powell, Joseph LaVorgna, you've, Raphael Bostic, Bostic, Rick Rieder, Goolsbee Organizations: Federal, Traders, CME, Cornell, Georgetown, Fed, Nikko Securities, CNBC, Federal Reserve Bank of Chicago Locations: Powell's, Jackson Hole , Wyoming, Atlanta, Chicago

☆ If Your Debt Is Ballooning, There Are Steps You Can Take
▼ + stars: | 2024-08-23 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

Americans are increasingly struggling with credit card debt and other loans, and consumers are paying more for basic banking services like A.T.M. And 42 percent of households carrying balances on credit cards reported that their overall debt level was “unmanageable,” up from 38 percent in 2022, the network found. More borrowers have been falling behind on credit card payments, especially those who have maxed out spending on their cards, according to the Federal Reserve Bank of New York. Making payments on credit cards as well as car loans, student loans and other installment loans has been increasingly challenging for consumers, the financial network found. (The analysis, which the network publishes annually, is based on public data and a nationally representative survey of consumers.)

Persons: ”, Hannah Gdalman Organizations: Financial Health Network, Federal Reserve Bank of New Locations: Federal Reserve Bank of New York

☆ More and more Americans are worried they will lose their job
▼ + stars: | 2024-08-19 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —The shape of the US labor market is changing, job growth is slowing and new survey data released Monday shows that Americans are starting to feel increasingly unsettled about it all. The Federal Reserve Bank of New York’s latest survey on consumers’ labor market experiences and expectations showed that job, wage and benefits satisfaction all sank in July. Job offer activity held steady from July 2023, and the average expected likelihood of receiving at least one job offer increased from last year. Additionally, the average reservation wage (the lowest wage one would accept for a new job) remained well above July 2023 — and significantly higher than pre-pandemic levels. Job growth has slowed, especially in recent months, as the US labor market has settled back into a more balanced state amid a slower-growing economic backdrop.

Persons: — Organizations: CNN, Federal Reserve Bank of New, New York Fed, Bureau of Labor Statistics

☆ Shopping hauls are so back
▼ + stars: | 2024-08-17 | by ( Erika Tulfo | ) edition.cnn.com time to read: +8 min

CNN —Aria Liu, 17, regularly posts shopping haul videos to her YouTube channel, which has 300,000 subscribers. “I don’t know what it is, but when I’m shopping online, money doesn’t feel real.”Liu’s not alone. Shopping hauls have existed for years, if not decades. Aria Liu says that the shopping haul videos she posts on her YouTube channel, “urmomsushi,” are the ones that garner the most views. There’s also a growing body of research that is questioning whether social media can be dangerous, especially for younger users.

Persons: Aria Liu, ”, “, ” Liu’s, Liu It’s, Philippa Ward, Katie Fang, TikTok, Fang, hashtags, Alistair Berg, Matthias Lehner, ” Lehner, Katrina Caspelich, There’s, there’s, ” Caspelich Organizations: CNN, YouTube, Consumer, US Commerce Department, Consumer Financial, University of Gloucestershire, Research, Federal Reserve Bank of New, Centre for Retail Research, Lund University Locations: Federal Reserve Bank of New York, TikTok, Lund , Sweden, “

☆ Why you shouldn't worry about the job market and a recession just yet
▼ + stars: | 2024-08-14 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Read previewThe labor market is trending in the wrong direction, but it might not be time to sound the alarm just yet. The unemployment rate has risen for four consecutive months and at 4.3%, it's the highest it's been in nearly three years. However, there are some reasons it might be too soon to freak out about the labor market. AdvertisementSatyam Panday, chief US economist for S&P Global Ratings, said in a note published on August 6 that the slowing labor market appears to suggest a "normalization" of a previously red-hot labor market, rather than an "economy that's about to slip into a recession." The labor market might get worseTo be sure, there are plenty of reasons to remain concerned about the state of the labor market.

Persons: —, there's, it's, Goldman Sachs, David Mericle, Manuel Abecasis, they've, It's, Goldman Sachs that's, Satyam Panday, Michael Gapen, JP Morgan, Claudia Sahm Organizations: Service, Federal Reserve, Business, Bureau of Labor Statistics, Labor Department, Federal, Satyam, Bank of America, Federal Reserve Bank of San Francisco, New Century Advisors Locations: US

☆ Average consumer now carries $6,329 in credit card debt. 'People are stretched,' expert says.
▼ + stars: | 2024-08-08 | by ( Jessica Dickler | Jessica Dickler Is A Personal Finance Writer For Cnbc. | ) www.nbcnews.com time to read: +2 min

Credit card debt is on the rise. Over the last year, roughly 9.1% of credit card balances transitioned into delinquency, the New York Fed reported. The average credit card charges more than 20% — near an all-time high. “With credit card balances at an all-time high and the average credit card rate hovering near record territory, it’s more important than ever to pay down this debt as soon as possible,” Rossman said. If you’re carrying a balance, try consolidating and paying off high-interest credit cards with a lower interest personal loan or switch to an interest-free balance transfer credit card, he advised.

Persons: TransUnion, ”, Michele Raneri, “, Ted Rossman, Bankrate, ” Raneri, ” Rossman Organizations: Federal Reserve Bank of New, New York Fed, Consumers Locations: Federal Reserve Bank of New York, TransUnion

☆ Investors believe the fears about the slowing economy are overblown and market is overreacting
▼ + stars: | 2024-08-06 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

The S & P 500 is off by nearly 9%, and it could soon join the tech-heavy index. .VIX 1D mountain VIX On Wall Street, however, many investors expect the fears of a slowing economy are overdone, and that markets are overreacting. "We don't see an earnings recession, we don't see an economic recession," said Sam Stovall, chief investment strategist at CFRA Research. The strategist expects the S & P 500 could fall into a correction, somewhere between 10% and 15%. To be sure, investors who aren't expecting a recession say any weakness in the consumer should continue to be monitored.

Persons: It's, Stocks, Mark Malek, Siebert, Malek, nonfarm, John Butters, —, Sam Stovall, Stovall, that's, aren't, Siebert's Malek, Jamie Meyers, he's, we've, it's, I've, Meyers, CFRA's Stovall Organizations: Nikkei, Nasdaq, Dow Jones, Treasury, Fed, Federal Reserve Bank, Atlanta's, Bank of America, CFRA, Nvidia Locations: Japan, U.S

☆ San Francisco Fed President Daly sees interest rate cuts coming as labor market weakens
▼ + stars: | 2024-08-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Mary Daly, president of the Federal Reserve Bank of San Francisco, during the National Association of Business Economics (NABE) economic policy conference in Washington, DC, US, on Friday, Feb. 16, 2024. San Francisco Federal Reserve President Mary Daly on Monday said she expects that interest rates will be cut later this year but declined to provide a timetable or the extent to which the central bank will ease. At their meeting last week, Fed officials provided some hints that lower rates are coming but were short on specifics. Earlier in the day, Chicago Fed President Austan Goolsbee told CNBC that the central bank's "restrictive" rates policy doesn't make sense if the economy isn't overheating, which he said it is not. If there are trouble signs with the economy, Goolsbee said the Fed will "fix it."

Persons: Mary Daly, Daly, we've, Austan Goolsbee, Goolsbee Organizations: Federal Reserve Bank of San, National Association of Business Economics, San Francisco Federal, Market, Chicago Fed, CNBC Locations: Federal Reserve Bank of San Francisco, Washington , DC, Hawaii

☆ America may already be in a 'plain vanilla recession,' says Danielle DiMartino Booth
▼ + stars: | 2024-08-05 | by ( Emily Rabbideau | In Emilyrabbideau | ) www.cnbc.com time to read: +2 min

The U.S. may already be in a "plain vanilla recession," according to Danielle DiMartino Booth, CEO and chief strategist for Quill Intelligence and a former advisor to the Federal Reserve Bank of Dallas. DiMartino Booth explained how a weakening job market and increasing Chapter 11 bankruptcy filings signal that the U.S. is already in a recession. DiMartino Booth suggested that "for the next six to 18 months, AI is going to … feel like a weapon of mass destruction." DiMartino Booth also said the Fed isn't entirely to blame for the high levels of inflation explaining that the "interest rate policy is a blunt instrument." Watch the video above to learn more about what Danielle DiMartino Booth has to say about the state of the U.S. economy, including why the nation may already be in a recession, ways AI is changing the workplace and how the economy can work best on a global scale.

Persons: Danielle DiMartino Booth, DiMartino Booth, — Organizations: Quill Intelligence, Federal Reserve Bank of Dallas, CNBC Locations: U.S

☆ Ron Insana: The economic slowdown is here, and the Fed will be key to avoiding a recession
▼ + stars: | 2024-07-31 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

It is a question based on recent market behavior, corporate profit reports and prospective economic policy changes at home and abroad. It suggests that declining inflation and economic weakness may well be in our future. Recent U.S. economic data has been unexpectedly steady, with recent growth pegged at an annual rate of 2.8% in the second quarter. Unemployment data flashes a warning sign The unemployment rate remains low at 4.1% as of June, but it has risen from 3.7% back in January . Some economists argue that an increase of half a percentage point in the unemployment rate, off the lows, is a precursor to a recession.

Persons: you've, Ron Insana Organizations: Treasury, Federal Reserve Bank of New, Procter, Gamble, Federal Reserve, Clearwater, CNBC Locations: Clearwater, Japan, Switzerland, Venezuela, U.S

☆ Here's what usually happens to stocks when the Fed cuts rates
▼ + stars: | 2024-07-31 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Any September decision to lower the Fed's target range would be the first time interest rates have fallen since the hiking cycle began in March 2022. However, stocks fell soon after the rate cut in 2001 and 2007 by 13.5% and 20.6%, respectively, due to the dotcom crash and the global financial crisis. The current tightening episode is the seventh in the past 40 years. Historically, the Fed has cut rates because the U.S. economy was heading into a recession or experiencing a notable growth slowdown. While nominal rates peaked at 11.5% at the end of the 1983-84 episode, the current target range of 5.25%-5.50% is the highest this millennium.

Persons: Kevin Kliesen, Louis Organizations: CNBC, CNBC Pro, Federal Reserve, Federal Reserve Bank of St Locations: U.S

☆ Rush hour isn't what it used to be: Working 10-to-4 is the new 9-to-5, traffic data shows
▼ + stars: | 2024-07-29 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

As more commuters settle into flexible working arrangements, the traditional American 9-to-5 has shifted to 10-to-4, according to the 2023 Global Traffic Scorecard released in June by INRIX Inc., a traffic-data analysis firm. Its analysis shows fewer early morning trips and a higher volume of midday trips compared to pre-pandemic traffic patterns. Ridership sank during the pandemic, Federal Reserve Bank of St. Louis data shows, and never fully recovered. The result is a surge in traffic congestion throughout the peak midday and evening hours, according to Pishue. "Pre-Covid, the morning rush hour would be a peak and then the evening peak would be much larger," he said, describing two apexes with a valley in between.

Persons: Kevin Carter, Bob Pishue, Louis, Gallup Organizations: Getty Images, INRIX Inc, Federal Reserve Bank of St Locations: San Diego, San Diego , California

☆ 'Nobody wants to talk about it': A market-shifting real-estate trend is hiding in plain sight — and these 5 states will benefit most
▼ + stars: | 2024-07-27 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

"We've got a real headwind from climate change," Zelman told Business Insider in late July. AdvertisementThe two hottest days in recorded history were earlier this week, according to the Europe-based Copernicus Climate Change Service. Most scientists say that's due to climate change caused by humans, but even if it's a coincidental pattern, the trend of rising temperatures is undeniable. AdvertisementMidwestern cities are destined to overtake the 'Sun Melt'During the "great reshuffling" of the pandemic, warmer states in the Sun Belt region were among the biggest beneficiaries. The widespread advent of remote work allowed millions of people to relocate, and many moved in droves to warmer states in the Southern US.

Persons: —, Zelman, she's, We've, I've, Sylvain Leduc, Daniel Wilson Organizations: Service, Zelman, Associates, Wall, Business, Van Lines, Federal Reserve Bank of San Locations: Europe, Southern, South, Carolinas , Tennessee, Florida, Arizona, North Carolina, South Carolina , Tennessee, Georgia, Alabama, Texas, Midwest, Federal Reserve Bank of San Francisco, Miami, Ohio, Michigan , Illinois , Iowa, Wisconsin, Cleveland

☆ Why Paper Checks Refuse to Die
▼ + stars: | 2024-07-24 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

Target stopped accepting personal checks as a form of payment this month, which might inspire the following question: What took so long? Check fraud has more than doubled in recent years, and it costs at least a dollar for businesses to process each check they receive. In many industries, checks continue to be a popular form of payment, and sometimes they are required. According to consumer survey data from the Federal Reserve Bank of Atlanta, which tracks the percentage of payments that consumers make by check, the following industries receive the most check payments: Contractors, like electricians and plumbers, get 25 percent of their payments by check. Landlords, government taxing authorities and professional-service firms also receive double-digit percentages of their payments by check.

Organizations: Federal Reserve Bank of Atlanta

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