A recession in the US is unlikely, per Reuters polling

The U.S. Federal Reserve is expected to reduce interest rates by 25 basis points at each of its remaining three meetings in 2024, according to a slim majority of economists surveyed by Reuters. This projection marks one additional rate cut compared to predictions from the previous month, with many

Donald Trump says he would tap Elon Musk for a Cabinet role

Former President Donald Trump stated on Monday that he would consider offering Tesla and SpaceX CEO Elon Musk a position in his Cabinet or an advisory role if he wins a second term in the White House. In an interview with Reuters, Trump mentioned that he would be open to

One out of every 15 Americans is a millionaire, UBS has said.

According to UBS' 2024 global wealth report, nearly 22 million people in the U.S.—or approximately one in 15 Americans—had a net worth of over $1 million last year. While this is a decrease from 22.7 million in 2022, the U.S. still accounted for 38%

Kamala Harris is allegedly considering SEC chairman Gary Gensler as US Treasury Secretary if she wins the election

Despite SEC Chairman Gary Gensler not signaling any intention to leave his role, speculation is growing in Washington that Vice President Kamala Harris may nominate him as Treasury Secretary if she wins the upcoming election. According to reports shared by senior Senate staffers with The Washington Reporter, these rumors align

Kamala Harris has unveiled a proposal to raise the corporate tax rate to 28%.

Vice President Kamala Harris has introduced a proposal to increase the corporate tax rate to 28%, marking her first significant step toward raising revenue for the ambitious plans she intends to pursue as president. James Singer, a spokesperson for Harris’s campaign, stated in an interview with NBC News that

Subway to launch value meals, including $6.99 footlong, this month

Subway has announced plans to adjust its marketing strategy in response to a recent drop in sales. According to sources who participated in a conference call with franchisees, the company will shift its focus from promoting snacks to offering value meals. CEO John Chidsey revealed that starting on August 26,

Burning Man festival fails to sell out for first time in a decade

For over a decade, tickets to Burning Man have consistently sold out almost instantly, sometimes within minutes. However, this year, less than two weeks before the festival begins, tickets are still available. This unusual situation has raised concerns about the future of the annual desert event, especially given the ongoing

Kamala Harris has proposed elimination of medical debt for millions of Americans

Kamala Harris has proposed a series of economic measures including the construction of millions of new homes, assistance for first-time homebuyers, tax breaks for families, and a ban on grocery "price-gouging" in her first major economic policy speech. These plans build on initiatives from the Biden administration and

Balances on credit cards rose by $27 billion to $1.14 trillion in the second quarter, and auto loan balances increased by $10 billion to $1.63 trillion

Americans are all too familiar with credit card debt, and a new report from the Federal Reserve Bank of New York highlights how rapidly these issues are escalating. Total credit card debt in the U.S. reached an all-time high of $1.14 trillion in the second quarter of 2024,

Only 14% of adults have saved $100,000 or more for retirement

Only 14% of adults have saved $100,000 or more for retirement, per GOBankingRates. 78% of Americans have saved $50,000 or less Gen Z plans to retire the soonest of all generations, at age 54, per Empower. 72% of Millennials and 67% of Gen Z say money can buy

If a home buyer wanted to comfortably afford a house with a median listing price of $440,000 in July, they would need an annual income of $90,000

An interest rate cut won’t fix the housing crisis, Moody’s economist has said. In a recent analysis titled “A September Rate Cut is Not Enough to Relieve the Housing Affordability Crisis,” a Moody’s economist noted that the bond market has already factored in a potential rate cut,

Donald Trump, the Republican presidential nominee, has promised to cut taxes on Social Security

Before the rally, he took to Truth Social to share a message with his followers, declaring in all caps, "Seniors should not pay tax on Social Security!" This promise comes at a time when senior poverty is on the rise. The National Council on Aging reports that over

Kamala Harris to propose federal ban on 'corporate price-gouging' in food and groceries

Vice President Kamala Harris is set to introduce a historic federal ban targeting "corporate price-gouging in the food and grocery industries," according to a statement from her campaign late Wednesday. "There’s a clear distinction between fair pricing in competitive markets and excessive prices that don'

Sweden reports first case outside Africa of the more dangerous mpox strain

Sweden has confirmed the first case of the more deadly mpox variant outside Africa, just a day after the World Health Organization declared a global public health emergency. The infected individual contracted the virus while staying in a region of Africa affected by the mpox outbreak, according to a statement

Driver’s licenses and state IDs in Apple, $AAPL, Wallet are coming to California

Californians will soon be able to store their driver’s licenses and state IDs in Apple Wallet, offering a streamlined and secure method to present these documents using only an iPhone or Apple Watch. “We’re thrilled to partner with the state of California to bring IDs to Apple Wallet

Subway has called for an ‘emergency’ meeting with franchisees as sales plummet

Subway has urgently convened a meeting with its franchisees from the 19,000 North American locations as they face declining sales and profits, The Post has learned. The fast-food chain, which was acquired in April for $9 billion by Roark Capital, owner of Dunkin, Arby’s, and Baskin Robbins, has

EU accused its internal market commissioner of going rogue by sending a letter to Elon Musk threatening punishment hours before Elon interviewed US presidential candidate Donald Trump on X

Thierry Breton, the European commissioner for the internal market, sent a letter to Elon Musk on Monday, just hours before Musk's live-streamed interview with Trump was scheduled to air on X. This action was taken without the consent of European Commission president Ursula von der Leyen, according to

US approves $20 billion Israel weapons package, including fighter jets

On Tuesday, the United States approved a $20 billion sale of fighter jets and other military equipment to Israel amid its ongoing conflict in the Gaza Strip. However, the Pentagon noted that the delivery of these items would not begin for several years. U.S. Secretary of State Antony Blinken

The US Justice Department is considering breaking up Alphabet's Google, $GOOGL

The U.S. Department of Justice is exploring options that may include breaking up Alphabet's Google, following a recent court ruling that found the tech giant had illegally monopolized the online search market, according to Bloomberg News. Shares of the California-based company fell about 3% at 1401 GMT

An interest rate cut won’t fix the housing crisis, Moody’s economist says

An interest rate cut won’t fix the housing crisis, Moody’s economist has said. In a recent analysis titled “A September Rate Cut is Not Enough to Relieve the Housing Affordability Crisis,” a Moody’s economist noted that the bond market has already factored in a potential rate cut,

US July CPI +2.9% vs +3.0% y/y expected

Gold prices dropped 1% on Wednesday following data that showed U.S. consumer prices rebounded as expected in July, dampening hopes for a significant rate cut by the Federal Reserve next month. Spot gold decreased by 1% to $2,440.47 per ounce by 1:45 p.m. EDT (1745

College students state they expect to make about $84,855 one year after graduation

According to a recent survey by Real Estate Witch, a site specializing in U.S. housing market research, college students expect to earn $84,855 one year after graduation. This is significantly higher than the average starting salary of $55,911. Having accurate salary expectations is crucial for negotiating a

Chevron, $CVX, the second-largest U.S. oil company, will relocate to Houston from its headquarters in San Ramon, California

Chevron is relocating its headquarters from San Ramon, California, to Houston, Texas. Chevron Chairman and CEO Mike Wirth, along with Vice Chairman Mark Nelson, will move to Houston by the end of 2024. This move aims to enhance collaboration and engagement among senior leaders, executives, employees, and business partners. The

The average rate for a new 30-year fixed-rate mortgage has fallen to 6.54% from 6.55% the week prior

Applications to refinance a home loan surged by 35% last week compared to the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. This increase was even more pronounced, up 118%, compared to the same week last year. Despite this surge, the average contract interest rate

The World Health Organization has declared the mpox outbreak in Africa a global health emergency

The World Health Organization (WHO) has reclassified mpox as a public health emergency of international concern for the second time, following an emergency declaration from African health officials as the virus continues to cause outbreaks across the continent. Mpox, which causes painful, pus-filled lesions and can sometimes lead to severe