Americans Pull $472,000,000,000 Out of US Banks in Three Months As Depositors Exit in Historic Numbers

dailyhodl.com New numbers from the Federal Deposit Insurance Corporation (FDIC) show Americans are pulling their money at a pace not seen in yearly four decades. According to the FDIC’s…

U.S. Labor Market Shows Resilience With Strong May Hiring

wsj.com Hiring surged this spring, the latest sign the U.S. economy maintains momentum in the face of rising interest rates and complicating the Federal Reserve’s decision over…

‘We averted an economic crisis’: Biden hails debt-ceiling deal in Oval Office address

marketwatch.com President Joe Biden on Friday hailed passage of a bipartisan deal to raise the U.S. debt limit and avoid a government default, addressing the nation from the Oval Office.…

U.S. bank lending picks up slightly for second straight week

marketwatch.com The numbers: Total bank lending climbed slightly by $1.2 billion to $12.1trillion in the seven days ending May 24, the Federal Reserve reported Friday. This is the second…

The Class of 2023 plunges headfirst into the job market

marketplace.org “My Economy” tells the story of the new economic normal through the eyes of people trying to make it, because we know the only numbers that really matter are the ones in…

Jobs Report Is Unlikely to Resolve Fed Rate Debate

wsj.com Friday’s jobs report does little to change the Federal Reserve’s debate over holding rates steady this month. But it strengthens the likelihood that officials would pair any…

Subprime Borrowers’ Delinquencies up as Credit Lifeline Grows Taut

pymnts.com Credit card use is up, and card balances are increasing. It may be the more vulnerable borrowers among us signaling that distress could lie ahead — particularly in auto…

Stock futures higher with jobs data in focus after debt-ceiling hurdle cleared

marketwatch.com U.S. stocks were climbing Friday afternoon, with the Dow Jones Industrial Average up more than 700 points, after the May jobs report showed the labor market is in…

US Stock Futures Soar as May Job Report and Debt Ceiling Passage Shows Promises

coinspeaker.com Coinspeaker US Stock Futures Soar as May Job Report and Debt Ceiling Passage Shows Promises In an exciting development, US stock futures have continued to soar as traders…

Threatened by a Default, Treasuries Retain a Paradoxical Appeal

nytimes.com Treasuries have been threatened by a possible U.S. debt default, yet they remain more attractive than just about everything else, our columnist says. Treasury bonds have…

Strong Employment, Inflation Means Fed Has To Keep Hiking Interest Rates In 2023

forbes.com The May employment report shows continued growth in the economy, with no deceleration. Wage inflation has slowed relative to its peak in 2022, but the latest monthly data…

Odds Of June Rate Hike 'Fade' As Economy Adds 339,000 Jobs In May

thestreet.com Job growth jumped in May as the U.S. economy added 339,000 jobs, an increase from a revised 294,000 in April. This is also well above the 190,000 that economists were…

Recession Alert: Record Number Of Americans Worse-Off Financially

zerohedge.com Recession Alert: Record Number Of Americans Worse-Off Financially Authored by Peter Reagan via Birch Gold Group, Two years ago, we referenced various reports about…

US jobs market remains strong despite high interest rates and debt ceiling fight

theguardian.com High interest rates, a recent banking crisis and Washington’s fight over the debt ceiling may have shaken the US economy recently, but the US jobs market continues to show…

Jobs report shows a big 339,000 gain in May. The U.S. economy is still strong

marketwatch.com The numbers: The U.S. added a muscular 339,000 new jobs in May, underscoring the resilience of the economy in the face of rising borrowing costs. Employment gains in April…

Jobs surge surprise shows economy's strength but clouds Fed plans

politico.com The red-hot labor market is refusing to cool down, showing the remarkable resilience of President Joe Biden's economy but also making the Federal Reserve’s battle to curb…

The Drivers of Inflation Are Reversing. The Case for Fed Cuts

barrons.com About the author: Ian Shepherdson is chief economist at Pantheon Macroeconomics. The forces that drove up inflation since the onset of the Covid pandemic are reversing…

Treasury yields rise after May jobs data top expectations

marketwatch.com U.S. Treasury yields rose Friday morning after the May jobs report showed surprising resilience in the American labor market despite rising interest rates and heightened…

Labor market defies expectations with strong growth, adding 339,000 jobs in May

pbs.org The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of strength in an economy that the Federal Reserve…

May jobs report released: Booming 339,000 jobs added as unemployment rises to 3.7%

aol.com U.S. hiring accelerated in May as employers added a booming 339,000 jobs and the labor market continued to shrug off high interest rates and persistent inflation. The…

US employers added a strong 339,000 jobs in May as labor market stays durable

bostonherald.com By CHRISTOPHER RUGABER (AP Economics Writer) WASHINGTON (AP) — The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations…

The labor market remains vibrant despite the Fed's best efforts as the economy adds another 339,000 jobs

fortune.com The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of strength in an economy that the Federal Reserve…

May Non-Farm Payrolls Data Isn't So Much About Headline Print

zerohedge.com May Non-Farm Payrolls Data Isn't So Much About Headline Print Authored by Ven Ram, Bloomberg cross-asset strategist, Perhaps few other data points generate as much…

US jobs report for May could point to slower hiring as Fed rate hikes cool demand for workers

chicagotribune.com WASHINGTON — America’s surprisingly resilient job market may have delivered yet another month of solid hiring and pay gains in May, if economists’ forecasts prove to be…

Silvergate Ordered to Submit Liquidation Plan Within 10 Days

cryptopotato.com One of two crypto-friendly banks that provided much-needed liquidity for the industry – both of which went bankrupt earlier this year – Silvergate Bank, has been ordered to…

U.S. Jobs Report for May: Live Updates

nytimes.com May data is expected to show solid hiring, but at a slower pace. The demand for workers has withstood higher interest rates and economic uncertainty. Jamie Kelter Davis for…

S&P Futures Tick Higher as Investors Await Key U.S. Payrolls Data, U.S. Congress Passes Debt Bill

barchart.com June S&P 500 futures (ESM23) are trending up +0.40% this morning as the passage of a U.S. debt ceiling bill in Washington boosted market sentiment, while investors looked…

NerdWallet: How to accomplish home improvement projects in a shaky economy

marketwatch.com This article is reprinted by permission from NerdWallet. Spring is kickoff season for many kitchen remodels, bathroom updates and deck repairs, but recent economic turmoil…

Bitcoin Climbs as Cryptos Regain Ground

barrons.com Bitcoin and other cryptocurrencies were largely up early on Friday, regaining some ground lost during the week. They were rising alongside other risk assets, with market…

Money Market Yields Are Rising, Investors Taking Notice

forbes.com There’s a faint but growing sucking sound permeating Wall Street. That is the sound of money being gradually sucked out of traditional investments like stocks and bonds and…

Dow Futures Rise. Jobs Report in Focus After Senate Approves Debt-Ceiling Deal

barrons.com U.S. market attention on Friday will shift to jobs data and its implications for the Federal Reserve’s monetary policy, after the Senate passed a debt-ceiling deal.…

Asian stocks surge as debt bill clears Congress, Chinese shares rebound

investing.com Investing.com-- Most Asian stock markets rose on Friday amid optimism over the approval of a deal to raise the U.S. debt ceiling and avert a default, with Chinese markets…

US mortgage rates climb to their highest level since November

cnn.com US mortgage rates jumped higher last week as uncertainty about the debt ceiling standoff sent bond yields rising. The 30-year fixed-rate mortgage averaged 6.79% in the week…

Inflation Threat To US Consumer Economy Looks A Bit Inflated

forbes.com Imagine, for a moment, that the following hypothetical headline described the current state of our economy: US in Recession: High Prices Drive Household Spending Down 1.2%.…

The Fed Blew Up Another Real Estate Bubble And It's Losing Air

zerohedge.com The Fed Blew Up Another Real Estate Bubble And It's Losing Air Authored by Michael Maharrey via SchiffGold.com, In March, I warned that the commercial and investment real…

Novogratz Says “Bitcoin is a Much Better Bet Than JPMorgan Stock”

thecryptobasic.com According to Novogratz, Bitcoin and Ethereum are the two best assets to invest in over the next six months to three years. Mike Novogratz, founder, and CEO of Galaxy…

Mortgage Rates Jump to 6.79%, Highest Since November. All Eyes Are on Another Fed Hike

barrons.com Mortgage rates soared to their highest level since November, as the markets try to gauge if the Federal Reserve plans another hike in interest rates. The average rate on a…

Encore: Almost half of today’s working households are at risk of a lower standard of living in retirement

marketwatch.com The Center for Retirement Research first released its National Retirement Risk Index (NRRI) in 2006. The goal was to summarize in a single number the extent to which today’s…

Dow Edges Lower. Attention Turns Back to the Fed

barrons.com Stocks were mixed shortly after the market opened as investors turned their attention from the debt ceiling to the Federal Reserve’s fight with inflation. The Dow Jones…

Bitcoin, Ethereum, Dogecoin Tumble Amid Inflation Worries

benzinga.com Major cryptocurrencies are back slightly in the red on Wednesday evening following renewed concerns regarding inflation. What Happened: The latest JOLTS report brought a…

US Lawmakers Introduce Bill to Halt Federal Reserve’s Digital Dollar Testing, Citing Concerns for American Liberties

bitcoin.com U.S. lawmakers have introduced a bill to prohibit the Federal Reserve from “establishing, carrying out, or approving a program intended to test the practicability of…

Extraordinary measures for extraordinary times

marketplace.org Since the U.S. brushed up against its debt limit in January, Treasury Secretary Janet Yellen has been stretching the government’s money as far as possible using…

The Worst American City to Own a Home

247wallst.com The U.S. housing market has taken a wild ride since early 2020, driven by low mortgage rates and the COVID-19 pandemic. Many people who could work from home relocated to…

Crypto markets brace for impact as US debt ceiling debate threatens liquidity crunch

cryptoslate.com While market attention is focused on the debate over the U.S. debt ceiling, potential implications for crypto markets have garnered less discussion. The Treasury General…

Fed Rate Hike Bets Accelerate As 10 Million Jobs Go Unfilled In April, Adding to Inflation Pressures

thestreet.com The U.S. job market continued to strengthen over the month of April, data from the Bureau of Labor Statistics indicated Wednesday, building an even stronger case for the…

Investor home purchase fall by record amount: report

thehill.com Homes purchased by real estate investors saw their largest annual decline on record in the first quarter of the year amid falling home values and high mortgage rates,…

How Much Do Labor Costs Drive Inflation?

frbsf.org How Much Do Labor Costs Drive Inflation? Inflation has persisted above the Federal Reserve’s goal of 2% since the middle of 2021. In a November 2022 speech, Federal Reserve…

Gold edges lower, copper slides on disappointing Chinese data

investing.com Investing.com-- Gold prices crept lower on Wednesday as markets awaited more cues on the raising of the U.S. debt ceiling, while copper prices slid after data offered more…

Summers Sees Higher Fed Interest Rates, Increased US Taxes

yahoo.com Former Treasury Secretary Lawrence Summers sees US interest rates headed higher in the short-run and US taxes rising significantly in the longer run as the world’s biggest…