Economic News Archives - Page 9 of 18

Category: Economic News

The macro economy has a large impact on your personal finances. To help you manage your money better we track the import economic trends. Stay up to date so you can be prepared to adjust your personal finance strategies.

inside a mall

Amazon Reportedly Eyeing In-Mall Fulfillment Centers

Recent years have seen numerous retail chains closing locations, filing for bankruptcy, or disappearing altogether. Unfortunately, the coronavirus pandemic has only accelerated this trend. In particular, these closures have impacted shopping malls, which now find themselves with large retail footprints to fill. However, it seems that one of the nation's largest mall owners could find the solution in a "strange bedfellows" situation. According to a report from the Wall Street...
US Household Debt Chart

Household Debt in the U.S. Dips For the First Time in Six Years

Those looking for a silver lining to the current pandemic may have found one in a new report. According to the Federal Reserve Bank of New York, total household debt — which includes both housing and non-housing debt — came in at $14.27 trillion for the second quarter of the year. Importantly, that's down 0.2% (equating to $34 billion) from the previous quarter, marking the first time since 2014 that the...
US GDP chart

United States Economy Contracts 32.9% in Q2

As Congress continues to debate potential next steps for financial relief amid the coronavirus pandemic, new figures are showing the economic impacts of the disease. This morning, the Bureau of Economic Analysis reported that the United States’ gross domestic product declined by 32.9% during the second quarter of 2020. That marks the worst recorded quarterly GDP drop, nearly quadrupling Q4 2008’s 8.4% drop that held the previous title. The decline...
a retired couple

Americans' Concerns About Retirement Savings Increase

With the current pandemic continuing to upend many Americans' way of life, it seems as though today's economic issues have workers worried about their financial futures. According to a new survey by Simplywise, 62% of respondents say they are more concerned about their retirement today than they were one year ago. What's more, this figure is up from 56% who said the same in May. As a result, 72% of...
Uber and Postmates logos

Uber to Acquire Postmates for $2.65 Billion

After the chance to purchase one popular delivery service fell through for the company, Uber is on to the next. This week the ride-sharing company announced that it intends to acquire Postmates to further grow its own delivery offerings, including Uber Eats. The all-stock transaction is valued at approximately $2.65 billion. Currently the deal is expected to close in the first quarter of 2021. The agreement to purchase Postmates comes...
US Unemployment Rate graph

U.S. Unemployment Rate Retreats to 11.1% in June

Last month saw more Americans returning to work, even as the COVID-19 pandemic rolls on. According to the latest Bureau of Labor Statistics report, the United States economy reclaimed 4.8 million jobs in June. That's a notable increase from the 2.7 million added in May (adjusted from the original 2.5 million reported) and, as Axios notes, well exceeds the 3 million jobs that economists had anticipated to see from this...
credit cards and a woman carrying a purse

U.S. Consumer Spending Increased in May, Income Fell

With the United States still navigating unprecedented times due to the COVID-19 pandemic, a new report brings both good and bad news on the economic front. According to the latest figures from the Bureau of Economic Analysis, personal consumption expenditures (PCE) grew 8.2% in May to reach $994.5 billion.
a row of houses

Average Mortgage Rate Falls Below 3%

Those looking to buy a home or to refinance may encounter lower interest rates than they have before. According to Mortgage News Daily, the average rate for a 30-year fixed mortgage fell to just 2.97% last week. That marks a new record low as the economy continues to experience impacts from the coronavirus pandemic. With this being an average, some borrowers with stellar credit may apparently even see rates as...
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A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories: Amazon.com, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...
H-E-B and Central Market  credit cards

Imprint Launches Credit Cards from H-E-B and Central Market 

The FinTech Imprint is partnering with the popular Texas-based grocery chain H-E-B for a pair of new rewards credit cards. This week saw the launch of the H-E-B Visa Signature Credit Card as well as the Central Market Visa Signature Credit Card. With these two (nearly identical) options, customers will be able to earn rewards on groceries and beyond. First, both versions of the card earn up to 5% back on select...