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☆ The Fed needs to 'kill the zombie' with a high-rate-induced recession before investors should jump in to buy more stocks, strategist says
▼ + stars: | 2024-03-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Investors need to wait for a recession and accompanying rate cuts before putting more cash into stocks, Canaccord's Tony Dwyer says. Under such a scenario, the Fed would leave interest rates higher for longer to induce a downturn, then cut rates, Dwyer says. That's actually good news for investors, Dwyer said, as a downturn is the buying opportunity investors need to wait for:"You need to kill the zombie. A slowing economy could push the Fed to issue rate cuts — the monetary easing tool investors have been eagerly anticipating. Some Wall Street forecasters have warned interest rates could stay higher-for-longer as the Fed is looking to avoid a resurgence in inflation.

Persons: Canaccord's Tony Dwyer, Dwyer, —, Tony Dwyer, Canaccord, that's, haven't, Russell Organizations: Service, CNBC, of Labor Statistics, New York Fed

☆ 14 college majors where the typical graduate is making at least $100,000 by the middle of their careers
▼ + stars: | 2024-03-28 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +1 min

The New York Fed analyzed the mid-career wages of college graduates with a bachelor's degree. Those graduates aged 35 to 45 with one of 14 majors had a median wage of at least $100,000 a year. Nine of those 14 college majors were related to engineering. AdvertisementWhen undergraduate college students choose their majors, there can be several factors that go into their decisions. A New York Fed analysis of 2022 American Community Survey data found that college graduates who majored in one of 14 areas of study had a median mid-career wage of at least $100,000 a year.

Persons: — Organizations: New, Fed, Service, Survey, Business Locations: New York

☆ China's attempts to revive its economy could cause a 'sugar high' that pushes US inflation higher, new research says
▼ + stars: | 2024-03-25 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

China's attempts to revive its economy could push US inflation higher, new research says. To stimulate its economy, China policymakers are encouraging investments in the manufacturing sector. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A period of manufacturing-led growth would create a short-term "sugar high," a report from the New York Federal Reserve said. This story is available exclusively to Business Insider subscribers.

Persons: China's, — Organizations: Service, New York Federal Reserve, Business Locations: China

☆ The best- and worst-paying college majors, 5 years after graduation
▼ + stars: | 2024-03-24 | by ( Mike Winters | ) www.cnbc.com time to read: 1 min

If you want to make the most money possible right after college, study to be an engineer. Engineering degrees occupy nine of the top 16 college majors with the highest incomes five years after graduation, a recent New York Federal Reserve study reveals. Computer engineering majors ranked first with an annual median salary of $80,000, followed by chemical engineering and computer science — the only two other majors that earn more than $75,000 annually. They make roughly double that of the lowest-paid majors, which tend to be degrees in the liberal arts or humanities. Here are the 16 highest-paying college majors, five years after graduation:

Organizations: York Federal, Computer

☆ FTX's victims may get all their money back. The judge sentencing Sam Bankman-Fried might not care.
▼ + stars: | 2024-03-24 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

Sam Bankman-Fried bilked FTX customers out of over $8 billion, according to prosecutors. AdvertisementAccording to federal prosecutors, Sam Bankman-Fried orchestrated one of the biggest criminal frauds in the history of the world. According to his lawyers, FTX's customers might get all their money back. According to prosecutors, Bankman-Fried was responsible for more than $11 billion in fraud overall between FTX customers and investors in FTX and Alameda Research. The recovered calculations, too, distort how much money customers are actually getting back.

Persons: Sam Bankman, —, Fried, FTX, John J, Ray III, Ray, Lewis Kaplan, Kaplan, Sarah Krissoff, Cozen O'Connor, Krissoff, it's, Sarah Silbiger, Bankman, bitcoin, Rachel Maimin, Lowenstein Sandler, Barbara Fried, Mark Cohen, Jane Rosenberg Bankman, Maiman, Maimin, Caroline Ellison Organizations: Service, FTX, Bankman, Alameda Research, US, United States, Second Circuit, U.S . House Financial, Capitol, Reuters, K5 Global, Prosecutors, Wall, REUTERS, Business, of Prisons, Alemda Research Locations: FTX, Manhattan, New Jersey, New York, Washington , U.S

☆ The 16 worst-paying college majors, five years after graduation
▼ + stars: | 2024-03-16 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

All three majors made a median annual income of $38,000, the lowest out of the 75 majors in the study. Other low-paying majors include leisure and hospitality, history, fine arts and psychology, all of which made $40,000 or less per year. With liberal arts degrees, graduates tend to get paid less overall, for various reasons. Education majors tend to be paid less, as well. When looking at "mid-career" graduates — those ages 35 to 45 — education majors are the worst paid among all majors.

Organizations: York Federal, Census, Economic Locations: U.S

☆ Ron Insana: A market shake-up could be around the corner as inflation remains sticky
▼ + stars: | 2024-03-15 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

Here's a question on the minds of investors amid recent hotter-than-anticipated inflation readings and this powerful rally: Are we due for a stock market scare? However, as of late, there have been some early warning signs that the declines in inflation may be slowing. Other areas have also sent up some flags that could adversely affect stocks and bonds in the short run. However, it is unwise to ignore what market signals are suggesting, at least in the short run. But in the short run, we should remain on heightened alert for changes in this year's outlook.

Persons: It's, I'm, John Maynard Keynes, Ron Insana Organizations: Federal Reserve, New York Federal Reserve, West Texas, Atlanta Federal, CNBC, Financial Partners Locations: York

☆ Boeing’s problems could soon become your problem
▼ + stars: | 2024-03-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington CNN —Boeing’s problems aren’t just Boeing’s. One of America’s biggest manufacturers is dealing with some serious production, quality and safety problems that worsened this week after a 787 Dreamliner plunged suddenly mid-flight, injuring dozens of passengers. Southwest and United earlier this week said they expect Boeing to ship them fewer planes than they planned on receiving, so they’ll hire fewer pilots. (Boeing continued to build the 737 Max throughout the crisis). And Boeing’s years of problems have led to success for its French rival Airbus, which has overtaken Boeing as the world’s largest aircraft manufacturer.

Persons: Washington CNN —, aren’t, ” Kathy Bostjancic, “, ”, ” José Torres, Max, ” Lisa Simon Organizations: Washington CNN, America’s, Boeing, Airbus, Alaska Airlines, Nationwide, CNN, Interactive Brokers, New York Fed, The New, Fed, Boeing hasn’t, Federal Aviation Administration, Revelio Labs Locations: Southwest, ”

☆ U.S. could be facing stagflation as jobs market cracks, inflation remains sticky, warns BofA's Hartnett
▼ + stars: | 2024-03-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Stubbornly high inflation and a wobbly jobs market are combining to pose an ominous threat to the U.S. economy, Bank of America chief market strategist Michael Hartnett warned. The result is a narrative of "macro shifting from Q4/Q1 'Goldilocks' to Q1/Q2 'Stagflation,'" Hartnett said in his weekly "Flow Show" note to clients dated Thursday. As Hartnett indicated, the U.S. closed 2023 with the labor market looking strong and GDP posting a solid 3.2% gain. On the jobs market, while nonfarm payrolls have risen strongly , household employment actually is down by about 900,000 since November and full-time jobs have declined by nearly 1.8 million. The Fed is "implicitly ... tolerating higher inflation" as way to inflate the debt away, a condition that means "weaker policy credibility = weaker currency … why crypto & gold [are] at all-time highs."

Persons: Michael Hartnett, Hartnett, Stagflation, nonfarm, specter, That's Organizations: Bank of America, Federal Reserve, New, Fed, U.S ., Atlanta Fed, Nasdaq Locations: U.S

☆ The 16 highest-paying college majors, 5 years after graduation
▼ + stars: | 2024-03-14 | by ( Mike Winters | ) www.cnbc.com time to read: 1 min

If you're looking for a college degree with maximum earning potential, you'll want to be an engineer. Engineering degrees took nine of the top 16 rankings for college majors with the highest income five years after graduation, according to a recent New York Federal Reserve study of full-time workers. Computer engineering majors ranked first with an annual median salary of $80,000, followed by chemical engineering and computer science — the only two other majors that pay more than $75,000 annually. STEM jobs — science, technology, engineering and mathematics — are expected to grow twice as fast as non-STEM jobs through 2031. Here are the 16 highest-paying college majors:

Organizations: York Federal, Computer

☆ This week provided a reminder that inflation isn't going away anytime soon
▼ + stars: | 2024-03-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

From consumer and wholesale prices to longer-term public expectations, reports this week served up multiple reminders this week that inflation isn't going away anytime soon. Data across the board showed pressures increasing at a faster-than-expected pace, causing concern that inflation could be more durable than policymakers had anticipated. The bad news began Monday when a New York Federal Reserve survey showed the consumer expectations over the longer term had accelerated in February. It continued Tuesday with news that consumer prices rose 3.2% from a year ago, and then culminated Thursday with a release indicating that pipeline pressures at the wholesale level also are heating up. The latest jolt on inflation came Thursday when the Labor Department reported that the producer price index, a forward-looking measure of pipeline inflation at the wholesale level, showed a 0.6% increase in February.

Persons: Steven Blitz, Dow Jones Organizations: New York Federal Reserve, TS Lombard, Labor Department, department's Bureau of Labor Statistics

☆ Opinion: What Hunter Biden and Donald Trump have in common
▼ + stars: | 2024-03-13 | by ( Opinion Andrey Spektor | ) edition.cnn.com time to read: +9 min

CNN —Hunter Biden won’t be returning to the spotlight next week as the House Oversight Committee had hoped. The problem with the Hunter Biden investigation, though, is not its potential reliance on the word of a compromised informant. And in that sense, Hunter Biden shares something in common with an unlikely person: Trump, at least with respect to his criminal case in New York. Much like the gun charge against Hunter Biden, the tax indictment has left many former federal white-collar prosecutors like me scratching their heads. That doesn’t mean that Trump or Hunter Biden are innocent; indeed, the former has more serious cases to contend with.

Persons: Andrey Spektor, Bryan Cave Leighton Paisner, CNN — Hunter Biden won’t, James Comer’s, Joe Biden, Andrey Spektor Bryan Cave Leighton, Hunter, Alexander Smirnov, Biden, you’ve, Smirnov, Hunter Biden, –, Donald Trump –, that’s, Trump, Hunter Biden’s Organizations: CNN, Republicans, Biden, Republican, Department of Justice Tax, IRS, DOJ’s Locations: New York

☆ Nearly everyone has given up on their recession call, and that makes the outlook 'dangerously reminiscent' of 2007, SocGen says
▼ + stars: | 2024-03-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Recession views are dangerously similar to those in 2007, SocGen's Albert Edwards said. Soft landing or no landing outlooks are growing on Wall Street as the US appears on solid economic footing. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Those signs appear lost on many other market commentators, who have dialed back their recession views in the last few months. "All this is (dangerously) reminiscent of 2007, when all around were telling me I was wrong and should give up calling that much-delayed recession," he later added.

Persons: SocGen's Albert Edwards, Edwards, —, Société, Albert Edwards, That's, Doom, Nouriel Roubini Organizations: Service, Chicago, York Fed's Survey, Consumer, National Federation of Independent Business, National Association of Business, Fed, Investor Locations: York

☆ Long-term inflation expectations rise, spelling possible trouble for the Fed, survey shows
▼ + stars: | 2024-03-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

According to a report by the Commerce Department, consumer spending rose 0.8% in July beating expectations of 0.7%. At the three-year range, expectations rose 0.3 percentage point to 2.7%, while the five-year outlook jumped even more, up 0.4 percentage point to 2.9%. All three are well ahead of the Fed's 2% goal for 12-month inflation, indicating the central bank may need to keep policy tighter for longer. Economists and policymakers consider expectations as a key factor in viewing the path of inflation, so the Survey of Consumer Expectations for February could be bad news. "We remain committed to bringing inflation back down to our 2 percent goal and to keeping longer-term inflation expectations well anchored."

Persons: Justin Sullivan, Jerome Powell Organizations: Costco, Commerce Department, Federal Reserve, New York Federal Reserve, Capitol Locations: Novato , California

☆ Trump again attacks E. Jean Carroll, as he appeals rape defamation penalties
▼ + stars: | 2024-03-11 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Donald Trump on Monday once again denied writer E. Jean Carroll's rape and defamation claims against him, despite facing nearly $90 million in civil penalties over similar denials. Carroll sued Trump in New York federal court for defaming her, after he denied the rape claim and accused her of trying to sell books. In 2022, Carroll sued Trump a second time for battery and defamation relating to the alleged rape and a subsequent denial after he left the White House. A federal civil jury last May awarded Carroll $5 million in damages in that case after finding Trump liable for sexual abuse and defamation. In January, another federal civil jury in Manhattan ordered Trump to pay $83.3 million for defaming Carroll through the statements he made as president.

Persons: Donald Trump, E, Jean Carroll's, Trump, Bergdorf Goodman, I'd, Carroll, defaming Carroll Organizations: White, Trump, CNBC Locations: Rome , Georgia, U.S, New York, Manhattan

☆ A key inflation reading is due out Tuesday morning. Here's what to expect
▼ + stars: | 2024-03-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Excluding food and energy, the increase for core inflation, is forecast at a 0.3% gain, also one-tenth of a percentage point above the previous month. On a year-over-year basis, headline inflation is expected to show a 3.1% gain and core inflation a 3.7% increase when the Labor Department's Bureau of Labor Statistics releases its latest reading on the consumer price index Tuesday at 8:30 a.m. On the brighter side, House said lower prices on travel, medical care and other services helped keep inflation in check. Still, Wells Fargo has raised its full-year inflation forecast. Focusing on the core personal consumption expenditures price index, the preferred Fed gauge, Wells Fargo sees inflation at 2.5% for the year, versus a prior estimate for 2.2%.

Persons: Elijah Nouvelage, Dow Jones, Sarah House, Wells, Wells Fargo Organizations: Kroger, AFP, Getty, Labor Department's Bureau of Labor Statistics, Fed, AAA, CPI, Wells, New York Fed Locations: Atlanta , Georgia, Wells Fargo, isn't

☆ Here’s why the Fed cares about the cost of your haircut and your doctor’s visit
▼ + stars: | 2024-03-10 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Overall, consumer prices rose 0.3% in January 2024 from December 2023, according to the latest Consumer Price Index. The Labor Department releases its Consumer Price Index for February on Tuesday. The drivers of services inflation have been threefold: Vehicle insurance, hospital insurance, and financial services. The US Labor Department releases its Consumer Price Index for February. The US Commerce Department releases February figures on retail sales in addition to January data on business inventories.

Persons: don’t abate, Price, it’s, Bell, Saira Malik, They’ve, I’ve, Biden, Joe Biden, I’m, ”, Biden’s, Read, Guess Organizations: Washington CNN, Federal Reserve, Labor Department, Oracle, Asana, Vail Resorts, US Labor Department, US Treasury Department, National Statistics, Adobe, Dollar, Sporting Goods, Getty, US Commerce Department, The New York Fed, Manufacturing Index, University of Michigan Locations: Nuveen, Thursday’s State, America

☆ Americans’ credit scores are falling. That hasn’t happened in a decade
▼ + stars: | 2024-03-07 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —Even as unemployment remains historically low and recession fears fade, consumer credit scores are starting to buckle. Although FICO scores remain near record highs — and well above pre-pandemic levels — this marks the first drop in a decade. FICO said the one-point drop in credit scores in late 2023 was driven by an increase in Americans missing payments and also by rising debt levels. However, he said this one-point drop in credit scores is not necessarily a red flag. “The overall outlook for consumer credit quality, and consumer spending growth,” Faucher said, “is still very solid.”

Persons: FICO, FICO’s, Arkali, ”, “, ” Arkali, Banks, ‘, Gus Faucher, Faucher, it’s “, ” Faucher Organizations: New, New York CNN, CNN, New York Fed, Federal Deposit Insurance Corporation, ’ Consumers, NY Fed, PNC Locations: New York

☆ As late, missed payments rise, credit card borrowers face 'consequences' for falling behind, CFPB says
▼ + stars: | 2024-03-06 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

watch nowThe consequences of missed credit card paymentsThe CFPB found that late fees are often layered on top of other punitive measures credit card companies impose on consumers who miss payments, including negative credit reporting, which can hurt their credit rating. "When consumers don't make required payments, they can face a long list of consequences. More consumers are falling behindCollectively, consumers are having a harder time managing debt amid high interest rates and higher prices. Not only are more cardholders carrying debt from month to month but more are also falling behind on payments, recent reports also show. Credit card delinquency rates surged in 2023, the Federal Reserve Bank of New York found.

Persons: Rohit Chopra, — Organizations: Consumer Financial Protection Bureau, Federal Reserve Bank of New, New York Fed Locations: Federal Reserve Bank of New York

☆ Co-defendant in Sen. Bob Menendez corruption case pleads guilty
▼ + stars: | 2024-03-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Jose Uribe leaves the Federal Court, after a hearing on bribery charges, in New York City, U.S. September 27, 2023. A co-defendant in the criminal corruption case against Sen. Bob Menendez pleaded guilty in New York federal court on Friday and agreed to cooperate with the prosecution of the New Jersey Democrat. Menendez's co-defendant Joe Uribe pleaded guilty to seven counts, including conspiracy to commit bribery, honest services fraud, and obstruction of justice. The other defendants in the case — Menendez, the senator's wife Nadine, and two other New Jersey businessmen — are scheduled to stand trial beginning May 6 in Manhattan federal court. The Clifton, New Jersey, resident and other two businessmen men were accused of having a "corrupt relationship" with Menendez and Nadine Menendez.

Persons: Jose Uribe, Sen, Bob Menendez, Menendez's, Joe Uribe, — Menendez, Nadine, —, Uribe, Menendez, Nadine Menendez, Wael Hana Organizations: New, New Jersey Democrat, Mercedes, Benz, Agriculture Department, Senate Foreign Locations: New York City, U.S, New York, New Jersey, Jersey, Manhattan, Clifton , New Jersey, Egypt

☆ U.S. Treasury yields inch higher ahead of Fed-favored inflation measure
▼ + stars: | 2024-02-29 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield was up by over one basis point to 4.2915%. The yield on the 2-year Treasury was more than one basis point higher to 4.6643%. U.S. Treasury yields were slightly higher on Thursday as investors awaited the release of the Federal Reserve's preferred inflation measure. Investors looked ahead to the release of the personal consumption expenditures report for January, which could provide clues about the outlook for interest rates. If January's reading comes in higher than expected, markets may take it as a signal that inflation is stickier than previously expected and interest rates could stay elevated for longer.

Persons: Dow Jones, John Williams Organizations: Treasury, U.S, Federal, PCE, New York Federal

☆ Stock futures fall as Wall Street awaits the Fed's preferred inflation gauge: Live updates
▼ + stars: | 2024-02-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures fell as Wall Street weighed the latest earnings results and looked ahead to the Federal Reserve's favored inflation gauge. Futures tied to the Dow Jones Industrial Average slipped 80 points, or 0.2%. The S&P 500 futures and Nasdaq 100 futures edged down 0.2% and 0.25%, respectively. The 30-stock Dow lost 0.06% and fell for a third consecutive session, while the S&P 500 inched down 0.17%. The S&P 500 has jumped 4.6%, while the Dow has added 2.1%.

Persons: Salesforce, Okta, Joe Mazzola, Charles Schwab's, Dow, John Williams Organizations: New York Stock Exchange, Stock, Federal, Dow Jones, Nasdaq, Dow, Hewlett Packard Enterprises, Bath, Body, New York Federal Reserve Bank Locations: Snowflake, Chicago

☆ Sean ‘Diddy’ Combs sued by male producer who alleges sexual assault
▼ + stars: | 2024-02-27 | by ( Lisa Respers France | ) edition.cnn.com time to read: +7 min

Khorram allegedly ordered prostitutes and illicit drugs for Combs and his guests and according to the lawsuit, Jones believed Khorram “aided and abetted” Combs’ sexual assault. “Our attempts to share this proof with Mr. Jones’ attorney, Tyrone Blackburn, have been ignored, as Mr. Blackburn refuses to return our calls. “This was done to ease Mr. Jones’ anxiety concerning homosexuality,” the suit alleges. In a statement to CNN, he called Jones’ allegations “false.”“My lawyer will be handling this going forward,” Stevie J added. Combs was present while Mr. Jones was being assaulted by Cuba Gooding Jr.,” the suit alleges.

Persons: CNN —, Sean “ Diddy ” Combs, ” Rodney “, Rod ” Jones, videographer, Combs, Jones, Combs ’, Kristina Khorram, Sir Lucian Grainge, Justin, Justin Combs, Khorram, Khorram “, abetted ” Combs, “, DeLeon Tequila, Grainge, Habtemarian “, ” Jones, Shawn Holley, Sean Combs, ”, ” Holley, Tyrone Blackburn, Blackburn, “ Justin Combs, Sean, Diddy, Chris Pizzello, Steven ‘ Stevie J ’ Jordan, Stevie J, ’, Oscar, Cuba Gooding, Jr, Mr, “ Mr, ” Gooding, Casandra Ventura, ” Ben Brafman, Ventura, ” Weeks, ” Combs, Rodney Jones, Lucian Grainge, Grainge “ Organizations: CNN, Universal Music Group, Motown, Ethiopia, Khorram, Billboard, Islands, Motown Records, Cuba Locations: New York, Los Angeles

☆ The two-letter word helping this lender buck the delinquency storm
▼ + stars: | 2024-02-27 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

But that’s not an accident,” Max Levchin, Affirm’s CEO and a co-founder of PayPal, told CNN in a recent interview. Levchin credits a willingness to say a two-letter word, one that’s not exactly associated with the surging BNPL industry, N-O. It’s that we are honest when we tell them, ‘Hey, we don’t think you should borrow right now.’”Affirm started saying “no” more often in the spring of 2022. That’s when Levchin started observing signs of “financial stress” as inflation surged and gas prices approached record highs. “Say you’re asking to borrow to buy an $800 TV and we really don’t think it’s healthy for you, financially…We can say, ‘That’s too much now.

Persons: “ We’re, that’s, ” Max Levchin, Levchin, “ It’s, ’ ”, ”, “, Max Levchin, Gross, we’ll, ” Levchin, it’s, BNPL, There’s Organizations: New, New York CNN, PayPal, CNN, New York Fed, Target, Walmart, Royal, American Airlines, NY Fed, Federal Reserve, Biden, Trump Locations: New York, Helsinki, Finland, Royal Caribbean, Covid

☆ Americans have racked up a trillion dollars in credit card debt. That’s actually okay
▼ + stars: | 2024-02-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Americans racked up a record amount of credit card debt in 2023, soaring past a trillion dollars. “Consumers still have a lot of money left over to be able to spend, so the credit card data is often misinterpreted,” Russell Price, chief economist at Ameriprise Financial, told CNN. According to a LendingTree analysis of more than 350,000 credit reports, the average unpaid credit card balance was $6,864 in the fourth quarter. Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period. So, while there certainly isn’t a shortage of economic hurdles bedeviling people’s budget — and credit card debt has surged — the big picture indicates that, so far, Americans (and their economy) remain healthy.

Persons: ” Russell Price, Price, haven’t, market’s, ” Gregory Daco, ” Lara Rhame, Laura, Jensen Huang, Christine Lagarde, Virgin, Michael Barr, Raphael Bostic, Susan Collins, John Williams, Papa, Austan Goolsbee, Loretta Mester, fuboTV, Christopher Waller, Mary Daly, Adriana Kugler Organizations: CNN Business, Bell, DC CNN, Workers, New York Fed, Consumers, Ameriprise, CNN, Federal Reserve Bank of New, . New York Fed, Employers, Soaring, FS Investments, Nvidia, Huawei, AMD, Microsoft, Broadcom, US Commerce Department, Central Bank, eBay, Smucker, Urban Outfitters, Global, Board, TJX, Monster Beverage, Baidu, HP, Paramount Global, Anheuser, Busch Inbev, Dell Technologies, Papa John’s, US Labor Department, National Association of Realtors, P, China’s National Bureau, Statistics, Pearson, P Global, Institute for Supply Management, University of Michigan Locations: Washington, Federal Reserve Bank of New York, ., EY, Santa Clara, Singapore, Shenzhen, China, Beijing, CAVA

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