News and Trends
Major Banks Face Questions On Excessive Overdraft And Hidden Fees - Forbes--12.6.23
CEOs from the country's largest megabanks have some explaining to do. Current policies from these large banks allow them to use a regulatory loophole that allows them to charge excessive and hidden fees. 
Economy to slow in 2024, economists see 50% recession odds: NABE- Fox Business--12.4.23
The U.S. economy is heading for a sharp slowdown next year, according to the nation's leading economists. U.S. GDP is expected to slow to 1.2% in the fourth quarter according to the Fed's Bank of Atlanta's GDP, citing a slowdown in construction spending and manufacturing.
Marc Faber: Inflation Is Here To Stay - Zero Hedge--11.30.23
According to Marc Faber, now is the time to buy gold, silver and platinum because inflation is here to stay. According to Faber, "the long-term trend in the next 20 to 30 years is for inflation to accelerate and for interest rates to move up.
Americans are yanking money out of their retirement savings to cover bills - Fox Business--11.30.23
A growing number of Americans are making emergency withdrawals from their 401(k) retirement plans to pay for everyday necessities amid chronically high inflation, according to new data. Hardship withdrawals allow workers to tap their 401(k) for an "immediate and heavy financial need."
GDP, inflation data bolsters case that Fed is done hiking - Yahoo! Finance--11.29.23
Growth in the U.S. economy continues to surprise to the upside while inflation declines. New data shows inflation continues to cool adding to investors' confidence that the Fed is done raising rates.
US Dollar depreciation to gather pace in 2024 – Wells Fargo - FX Street--11.29.23
Economists at Wells Fargo see potential for pronounced U.S. dollar depreciation as 2024 progresses across a wide range of economic scenarios. According to analysts at Wells Fargo, "as the global monetary policy cycle turns to easing, broad U.S. Dollar depreciation is looking increasingly likely..."
64 US Bank Branches File To Shut Down In A Single Week; Are You Affected?- Zero Hedge--11.27.23
Big banks such as PBC Bank and JPMorgan Chase have filed to close several branch offices in multiple state amid a pattern of rising branch shutdowns in recent years. Altogether, banks filed to shut down 64 branches. One major factor that led to a surge in branch closures is the rise of digital banking.
The dollar is on pace for its worst month of 2023, dragged down by bets that the Fed is done raising interest rates- Markets Insider--11.27.23
The U.S. dollar is on pace for its worst month of the year. So far, the dollar has tumbled 3% in November as investors bet that the Fed is done raising rates. According to analysts, the currency's struggles could drag on into 2024.
Families hosting Thanksgiving dinner feel financial burden from inflation- Fox Business--11.22.23
Stubborn inflation is weighing on American households as they plan for their Thanksgiving dinner. A recent survey found that about 34% of families hosting this year's Thanksgiving festivities say it will cause a financial strain.
Congress Admits It Has a Debt Problem, But Will It Do Anything? - Reason--11.22.23
The national debt now stands at $33.7 trillion. The $33.7 trillion represents 123 percent of gross domestic product. Currently, the federal government is spending more on gross interest payments on debt than on national defense.
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