News and Trends
'No one would be spared': Debt default would set off dire consequences- CNN--9.22.21
A mild recession, according to analysts, would likely be the best-case scenario in the event of the U.S. government defaulting on its debts. If the Treasury defaults and the impasse drags on, the federal government would have to enact "devastating" spending cuts.
Wall St drops 2% on growth worries; focus turns to Fed- Reuters--9.20.21
The stock market tumbled on Monday as concerns about the pace of a global recovery spurred a selloff across sectors. Traders are also awaiting a Fed meeting happening later this week that will decide on potentially tapering its pandemic-era stimulus.
What the federal debt ceiling showdown could mean for you- CNBC--9.20.21
Congress must suspend or raise the debt ceiling or the country runs the risk of default. If lawmakers can't reach a deal, it will increase borrowing costs, delay Social Security checks and disrupt financial markets across the board.
Here’s how inflation is hitting the online prices of everything from apparel to furniture- CNBC--9.15.21
The price of goods online have now risen for 15 consecutive months. Inflation is hitting categories including pet products, nonprescription drugs, apparel, furniture and flower arrangements.
Global debt is fast approaching record $300 trillion - IIF- Reuters--9.14.21
Global debt rose to a new record high of nearly $300 trillion in the second quarter. Total debt levels rose $4.8 trillion at the end of June and stands $36 trillion above pre-pandemic levels.
41% of Americans say it’s ‘going to take a miracle’ to be ready for retirement, report finds- CNBC--9.14.21
The Covid pandemic is taking a toll on retirement security. Overall, 59% of Americans said they accept that they will have to keep working longer, while 36% believe that they will never have enough money to be able to retire.
Two-Thirds of Businesses Around the World Are Struggling to Hire - Bloomberg/MSN--9.14.21
Businesses around the world want to hire, but are struggling to attract workers. A survey of employers across 43 countries showed 69% of employers reported difficulty filling roles, a 15-year high.
Americans' inflation fears hit another high in August as prices continue to climb- Fox Business--9.13.21
Americans' inflation fears hit another record in August as the price of consumer goods continue to surge. Consumers expect the price of things like food, gasoline, medical care and rent to increase over the next year.
Millions of Americans are walking away from their jobs each month – here's why- USA Today--9.13.21
Nearly 4 million Americans quit their jobs in July, according to the Bureau of Labor Statistics. Among those who have left their jobs, 85% said they are willing to take a pay cut for a job that's "right" for them.
Producer inflation accelerated in August, as wholesale prices rose record 8.3% from a year ago- CNBC--9.10.21
The producer price index accelerated in August and saw its biggest increase on record going back to 2010. The data comes amid heightened inflation fears fed by supply chain issues, a shortage of various consumer and producer goods and heightened demand related to the Covid-19 pandemic.
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