Money

Paying your credit card bill is about to get harder

Published

2 years ago

September 5, 2023

Inflation in the United States is posing severe financial challenges for Americans, resulting in a surge in defaults on credit cards and auto loans.

The relentless rise in inflation is taking a toll on Americans, particularly those with lower and middle incomes. Despite the Federal Reserve’s efforts to combat inflation, essential expenses such as rent, groceries, and the cost of both new and used cars continue to soar.

Credit agency Equifax reports that credit card delinquencies have surged to 3.8%, with a default rate of 3.6% on auto loans. These figures mark the highest levels witnessed in over ten years.

Many individuals, having exhausted their savings from government stimulus checks issued during the pandemic, are resorting to opening new lines of credit. This trend persists despite the fact that the average interest rate on credit cards has reached an unprecedented 20.6%, according to Bankrate.com.

$1 trillion debt

Since the pre-pandemic year of 2019, the number of open credit card accounts has surged by a staggering 70 million. This surge in borrowing has pushed the total credit card debt in the nation past the historic milestone of $1 trillion.

The Federal Reserve is contemplating raising interest rates to combat inflation, aiming to bring it down from its current level of 3.5% to the target rate of 2%. If these hikes occur, it could lead to even higher interest rates on credit cards, exacerbating borrowers’ financial difficulties.

As the moratorium on student loans, in place for more than three years, comes to an end, individuals already grappling with high rent and grocery costs will face the added burden of student loan payments starting next month.

While the Federal Reserve views these challenges as a rationale for raising interest rates to limit consumer spending, there are apprehensions that consumers may accumulate more debt during the holiday season, further compounding their financial woes.

Retail giants like Macy’s and Kohl’s have reported an uptick in delinquency rates among customers who hold private label store cards, underscoring the financial stress experienced by consumers.

Money

Commodities surge as oil volatility and metals hit record highs

Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.

Published

3 hours ago

January 16, 2026

Harvey Vargas

Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.

Global commodities are on the move, with oil prices swinging sharply as geopolitical tensions involving Iran fuel uncertainty across energy markets. Traders are closely watching supply risks and political flashpoints, driving short-term volatility.

Precious metals are stealing the spotlight, pushing to record highs as investors seek safety amid inflation concerns, interest-rate uncertainty and rising global risk. At the same time, industrial metals are surging, supported by demand expectations and tightening supply.

To unpack what this means for markets and investors, we’re joined by Kyle Rodda from Capital.com to break down the key drivers behind this powerful commodities rally.

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#Commodities #OilPrices #Gold #Metals #MarketVolatility #Geopolitics #Investing #TickerNews

Money

Stocks slide and Trump cancels talks: What’s next for markets and Greenland?

U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.

Published

2 days ago

January 15, 2026

Harvey Vargas

U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.

U.S. stocks fell for a second day on Wednesday, with the S&P 500 dropping 0.9% and the Dow Jones losing 164 points. Investors are reassessing record-high levels as major banks report weaker-than-expected earnings.

Wells Fargo shares tumbled more than 5% after disappointing revenue results, while Bank of America is down roughly 7% week to date. Citigroup and Wells Fargo have both seen declines of about 8%, highlighting volatility in the banking sector.

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#StockMarket #SP500 #DowJones #BankEarnings #TrumpNews #Iran #Greenland #Geopolitics

Money

U.S. budget deficit falls to $1.67 trillion

US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.

Published

2 days ago

January 15, 2026

Harvey Vargas

US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.

The US budget deficit has dropped to $1.67 trillion in 2025, the lowest in three years, driven by record customs revenue from President Donald Trump’s tariffs. While this marks a positive shift for the economy, challenges loom with potential Supreme Court rulings on tariffs and falling corporate tax receipts.

David Scutt from StoneX explains the key factors behind the decline in the deficit and what December’s figures reveal about the overall fiscal health of the US.

We also explore the potential implications of upcoming Supreme Court decisions and how the One Big Beautiful Bill Act could impact future deficits. Stay informed on what these changes mean for the economy and markets.

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#USBudget #DeficitUpdate #TrumpTariffs #FiscalPolicy #Economy2025 #SupremeCourtImpact #CorporateTaxes #FinancialNews