Pedestrians walk through the festively decorated Burlington Arcade luxury shopping arcade in London, UK, on Monday, Dec. 4, 2023. Inflation in UK shops has fallen to a 17-month low as retailers fight to attract shoppers ahead of the crucial holiday period. Photographer: Jason Alden/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images “Girl math” … Read more
Market optimism over the potential for interest rate cuts next year is dangerously overdone, according to former FDIC Chair Sheila Bair. Bair, who ran the FDIC during the 2008 financial crisis, suggested Federal Reserve Chair Jerome Powell was irresponsibly dovish at last week’s policy meeting by creating “irrational exuberance” among investors. “The focus still needs … Read more
Credit card rates top 20% Most credit cards come with a variable rate, which has a direct connection to the Fed’s benchmark rate. After the previous rate hikes, the average credit card rate is now more than 20% — an all-time high. Further, with most people feeling strained by higher prices, balances are higher and more cardholders are carrying debt … Read more