wealth gap Typical Household Over 75 Is Worth 15 Times One Under 35, Per Fed Survey The wealth gap between old and young Americans is now enormous, per the Federal Reserve's 2025 Survey of Consumer Finances. Median household net worth rises steadily with age in the survey, from just $33,000 for households under 35 to $504,900 for households aged 75 and older.
treasury US Government Borrows a Record $839 Billion in One Week of Treasury Auctions The US government just borrowed more money in a single week than ever before. Per Bloomberg, the Treasury raised $839 billion this week through its sales of Treasury bills and notes, a new all-time record for gross issuance in one week. The borrowing serves two purposes: repaying holders of
federal reserve Rich Getting Richer, Poor Getting Poorer in New Federal Reserve Wealth Data The rich are getting richer, and the poor are getting poorer, per the Federal Reserve. The central bank's latest Survey of Consumer Finances, released October 9, shows wealth gains since 2022 were concentrated at the top of the income ladder. The survey is conducted every three years and
federal reserve Federal Reserve Holds Interest Rates Steady at 3.75% to 4.00% at Its October Meeting The Federal Reserve hit pause. The Federal Reserve left interest rates unchanged at 3.75% to 4.00% at its October meeting, pausing after September's hike. September's move was a 25 basis point increase to the current range, the Fed's first rate hike since
fomc FOMC Vote to Hold Rates Was 10-2, With Lisa Cook and Beth Hammack Voting for an Increase The Fed's pause was not unanimous. The FOMC decision to hold rates was 10-2, with Lisa Cook and Beth Hammack voting for an increase. The split contrasts with September, when the committee voted 12-0 to raise rates by 25 basis points to the current 3.75%
housing Housing Costs May Not Return to Normal Until Around 2031, per Redfin Normal Is Years Away When will housing costs get back to normal? Possibly not until around 2031, per a new Redfin analysis. Redfin defines "normal" as the return of August 2018 affordability levels, when the typical buyer spent 30% of their income on the monthly mortgage payment. That
federal reserve Median Net Worth by Age: Families 75 and Older Are Now the Wealthiest, per the Federal Reserve The Fed's Net Worth Ladder, by Age Here is the median net worth of American families by age, per the Federal Reserve: Under 35: $33,000. Ages 35 to 44: $156,000. Ages 45 to 54: $255,000. Ages 55 to 64: $411,000. Ages 65 to 74:
housing The American Dream Just Got Three Times More Expensive, per WSJ The Monthly Payment Has Roughly Tripled The American dream just got three times more expensive, per WSJ. Ten years ago, the average mortgage rate was 3.4 percent and the median home price was $235,000, per WSJ figures. A typical monthly payment was about $830. Today, the mortgage rate
GOLD Central Banks Are Stockpiling Four Times as Much Gold as Usual and Moving It Out of the US, per Fortune Central Banks Are Buying Gold at More Than Four Times the Usual Pace Central banks around the world are quietly stockpiling four times as much gold as usual and are moving it out of the US, per Fortune. Goldman Sachs wrote in a note earlier this week that it estimates
inflation US Inflation Has Stayed Above Fed's 2% Target for 66 Straight Months, Per Bespoke A five-and-a-half-year miss on the Fed's target US inflation has now been above the Federal Reserve's 2% target for 66 straight months. That makes this only the third such stretch of more than five years in a century, per Bespoke Investment Group.
housing You Now Need Over $120,000 to Afford a Home as Typical Household Earns $87,460, Per Atlanta Fed Six figures is no longer enough to buy the median home A household now needs to earn over $120,000 a year to afford a median-priced home, while the typical household earns just $87,460. The figures come from the Federal Reserve Bank of Atlanta's Home Ownership
Economy Young Americans Are Falling Behind: Under-35 Net Worth Down 23% Since 2022 as Oldest Households Gain 37%, Fed Finds The wealth ladder is splitting by age Median net worth for households headed by someone under 35 fell 23% between 2022 and 2025, to about $33,000, while households headed by someone 75 or older saw a 37% increase, the largest gain of any age group. The figures come from
commercial real estate Rising Rates Are Blowing Up Commercial Real-Estate Deals A growing number of commercial real-estate buyers are threatening to walk away from recent transactions unless sellers offer better terms. Rapidly rising interest rates are to blame, and investors who agreed to a purchase price earlier this year when financing was cheaper are now demanding price cuts or other
federal reserve Doomsday scenario will result in big US banks losing $541 billion Per The Hill The Federal Reserve has recently commented on how much big US banks are expected to lose should the economy enter a doomsday scenario. It was noted that the findings came from its annual banking sector stress test, which aimed to see how vulnerable the banking sector was.
federal reserve Fed says top 23 banks could absorb losses and lending despite unemployment hitting 10% and stock market falling 45% Per Fed The Federal Reserve is assuring the public regarding the performance of the top 23 banks, saying they are capable of withstanding major unemployment and stock market plunge. The agency says these large banks would handle a 45% stock market drop and 10% unemployment. This came as Michael S.
feds Fed's Jerome Powell says 'stablecoins are a type of private money' Per American Banker It's long been debated as to whether stablecoins should be considered money under the government, and now, the Federal Reserve's Jerome Powell finally clarified what they thought about stablecoins. Fed Chair Powell said that they were a type of private money. Powell: "
federal reserve Fed reveals only 2.43% of Americans are delinquent in their credit card balances Per Lending Tree To qualify to become a delinquent, it was noted that Americans needed to be at least 30 days delinquent on their balances. The Fed recently found that the number of Americans with outstanding credit card balances that were at least 30 days delinquent was just 2.43%
s&p 500 S&P 500 reverts to the pre-Fed rate hike, which started over a year ago The Fed rate hike had a massive impact on the stock market, with the S&P 500 falling significantly. Still, as of recently, all of the losses it sustained during the aggressive rate hike were erased as the stock market saw bullish movement. This reportedly erased all the losses
Elon Musk Elon Musk: Feds raising interest rates would again happen too slow Per CNBC Elon Musk has recently commented on the Feds in an interview with David Faber from CNBC. In their discussion, he shared how he believed they'd be too slow to lower rates. Musk said that this was because they were also slow to increase rates when needed,
doubleline DoubleLine founder Jeffrey Gundlach says Feds would cut rates soon Per Jeffrey Gundlach on Twitter Founder of DoubleLine, Jeffrey Gundlach, believes that the Feds would soon cut its rates. He specified on Twitter that they would do so "substantially." Gundlach also mentioned that he was wrong 30% of the time, and because of this, people should factor in
white house Former White House advisor Gary Cohn: 'The Fed has lost control' Per Business Insider The former White House advisor, Gary Cohn, has shared his thoughts on the Federal Reserve, saying it has "lost control." This was within a statement where Cohn, the now director of the National Economic Council, said that Cohn actually outsourced monetary policy. This came as
jeremy siegel Jeremy Siegel: 'Fed shrapnel killed this bank and may send the economy into recession in the process' Per Fortune In an opinion piece on Fortune by Jeffry Sonnenfeld, Jeremy Siegel, and Steven tan, statements were made saying that the "Fed shrapnel" was the reason why Silicon Valley Bank imploded. The piece said that the economy could be sent into recession. "Make no mistake about
dallas Former Dallas Fed President Richard Fisher: 'I don't think the Fed should pause the 25 basis point hike' Per CNBC The former President of the Dallas Federal Reserve, Richard Fisher, has shared his thoughts on the recent crisis that started with the collapse of Silicon Valley Bank. He said that the Feds shouldn't raise rates and that the banks failed when it came to managing risk.
jpmorgan JPMorgan says Feds are past the point of no return: 'a soft landing now looks unlikely' Per Fortune JPMorgan has given new forecasts regarding the recession, and in a recent statement, they said that the Feds were past the point of no return. This came as the firm was among the multiple banks that had to rewrite their recession forecasts. While the economy experienced small victories
first republic bank List of banks that rescued First Republic Bank by sending $30 billion Per WSJ The Wall Street Journal released the list of eleven banks that reportedly rescued First Republic Bank by sending a total of $30 billion in cash to help stop the panic from spreading. Here are the names of the banks and how much they reportedly gave to First Republic
