Economy
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Government Spending
November 29, 2024
Economy

The U.S. federal government spent $6.75 trillion in the most recent fiscal year ended Sept. 30. Walk around town handing $20,000 to everyone you see. Now do that for the entire U.S. population, all 337 million of us. That is about how much the U.S. spent.

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Credit Cards
November 22, 2024
Economy

The four-quarter moving sum of the percentage of balances becoming 30-plus-days past due fell 0.26 percentage point from the second quarter to the third, to 8.79%. Early data show the trend continuing into the fourth quarter.

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Auto Loans
November 20, 2024
Economy

Sales of bonds backed by the riskiest auto loans to subprime borrowers hit nearly $40 billion this year through October, up 17% from all of 2023.

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Household Wealth
November 15, 2024
Economy

Thirty years ago, Americans with a college degree accounted for roughly 20% of the population and held the same percentage of household wealth as those without a degree. Today, Americans with a college degree account for 38% of the population and 73% of household wealth.

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Dollar
November 14, 2024
Economy

After strengthening nearly 3% since Election Day, the greenback was recently trading at a roughly two-year high.

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Inflation Watch
November 13, 2024
Economy

The Labor Department on Wednesday reported that consumer prices in October rose 2.6% from a year earlier. That marks a pickup in the pace of inflation from September, when the consumer-price index was up 2.4% on the year. Core prices, which exclude food and energy items in an effort to better reflect inflation’s underlying trend, were up 3.3% from a year earlier.

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Job Market
November 1, 2024
Economy

After showing remarkable strength and resilience since the pandemic, the job market has started to cool off significantly. The unemployment rate has risen to 4.1% from 3.6% in June 2023, and the number of job openings continues to trend downward.

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Auto Loans
October 28, 2024
Economy

Roughly a third of people who financed their vehicles have negative equity on their auto loans which means their loan is larger than the value of their car. That share would amount to some 31 million of the more than 100 million auto-loan accounts.

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Capital Call Loans
October 23, 2024
Economy

Goldman Sachs this month sold $475 million of public asset-backed securitization, or ABS, bonds backed by loans the bank makes to fund managers that tide them over until cash from investors comes in. The first-of-its-kind deal is a lucrative byproduct of the New York bank’s push into loans to investment firms, such as these so-called capital-call lines.

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