US credit card debt hit a record high as inflation leaves consumers financially stressed
Americans are relying on credit cards more than ever. But as prices remain stubbornly high, they’re also having trouble making payments on time.
inflation
Moldova: ‘Russia Seeks Overthrow Government’
Moldova’s president says Russia is plotting to overthrow the country’s pro-European Union government after a Russian missile violated the country’s airspace.
Federal Reserve raises interest rates by 25 basis points
The Federal Reserve on Wednesday raised interest rates by 25 basis points, issuing an 0.25% hike in line with earlier expectations in a move that signals a rate slowdown in the Fed’s fight against inflation.
Hungary’s Premier: ‘Dissolve EU Parliament’
As European legislators prepared for their long Christmas holidays, Hungary’s prime minister advised them not to return.
Household wealth dropped by $13.5 trillion from January to September, second-worst destruction on record
American households lost about $6.8 trillion in wealth over the first three quarters of 2022 as the stock market shed more than 25% of its value, the Federal Reserve reported Friday in the government’s quarterly financial accounts.
Hungary Delaying NATO Expansion Seeks Israel’s Defense
Hungary’s controversial prime minister says his country will only consider ratifying NATO military alliance membership of Finland and Sweden next year.
Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers
Existing home sales in the United States fell for the ninth straight month in October as higher mortgage rates kept buyers out of the housing market.
U.S. Interest Rates Rise Amid Soaring Inflation
U.S. interest rates rose again Wednesday in a sign that soaring inflation is hard to control in the world’s largest economy.
US Deficit Soars Thanks to Biden’s Student Debt Forgiveness
The monthly federal budget deficit was up 562 percent from September of last year, according to Treasury Department figures released Friday, mainly due to President Joe Biden’s student debt forgiveness plan.
Netherlands In Turmoil Over Cruise Ships For Migrants (Worthy News In-Depth)
Political tensions are rising in the Netherlands after the Dutch government decided to accommodate thousands of migrants on cruise ships.
US Inflation Spikes to 8.2%
Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains that many have received and ensuring that the Federal Reserve will keep raising interest rates aggressively.
Mortgage Interest Rates Rise To Highest Level Since 2006
The average interest rate on the most popular U.S. home loan rose to its highest level since 2006 as the housing sector continued to bear the brunt of tightening financial conditions, data from the Mortgage Bankers Association (MBA) showed on Wednesday.
Democrats go all-in on abortion in final ad blitz, GOP focuses on economy
Republicans are laser-focused on the economy in ads blanketing the airwaves before the midterm elections, while Democrats are sounding the alarm on abortion access as early voting gets underway in many states.
OPEC+ announces major cut in global oil supplies
OPEC+ has announced a significant cut in global oil supplies ahead of European Union embargoes on Russia energy and in time for the peak winter season, Reuters reports. Exacerbating concerns about soaring inflation, the move is expected to push up the price of gasoline again.
‘Nearly doubled’ foreign investment in U.S. farmland comes under scrutiny
A coalition of 130 lawmakers sent a letter to a top federal watchdog raising the alarm about a spike in foreign ownership of U.S. farmland.
Germany: Inflation hits record 10%, recession expected
Inflation in Germany increased to a record 10% last month as the country expects to enter a recession, DW reports.
Hurricane Ian Death Toll Rises To Over 80
The death toll of Hurricane Ian past 80, while residents in the U.S. state of Florida and the Carolinas faced recovery costs expected in the tens of billions of dollars.
Biden has passed 99 executive orders that have cost taxpayers $1.5 trillion dollars
President Biden has passed 99 executive orders since becoming president and a federal budget expert has estimated that the cost to taxpayers will be upwards of $1.5 trillion, with his recent student loan forgiveness accounting for a huge portion of that amount.
Inflation so high, millions of Americans struggle to pay for food
A new government report showed millions of Americans are struggling to pay for food, fuel, and rent as US inflation in August remained at 40-year highs, USA Today reports.
Biden’s Student Loan Forgiveness Plan Might Cost Up to $1 Trillion
President Joe Biden’s plan to erase student debt and modify payments for millions of Americans could cost as much as $1 trillion, according to budget analysts.