Consumers in April raised their expectations for price increases both in the near and longer term, fueled by higher inflation in home prices along with fuel and energy, according to a New York Federal Reserve survey released Monday. The central bank's New York district reported in its monthly Survey...
Traders reassess Bank of England rate cuts as UK grows at fastest rate in nearly 3 years
LONDON — A slew of commentary from the Bank of England and a better-than-expected economic growth number have left traders and investors scrambling to refine their bets on when the U.K. central bank will start to cut its benchmark rate. Investors had been eagerly awaiting any indicators in the hope...
Consumer sentiment tumbles as inflation fears surge
Consumer sentiment slumped as inflation expectations rose, despite otherwise strong signals in the economy, according to a closely watched survey released Friday. The University of Michigan Survey of Consumers sentiment index for May posted an initial reading of 67.4 for the month, down from 77.2 in April and well off...
Behind America’s divided economy: Booming luxury travel and a jump in ‘relief’ loans
At American Express, consumers are continuing to open high-fee credit cards and splurge on luxuries like travel. But for lending firm Upstart, there's a strong interest in microloans as cash-strapped Americans try to scrape by. That juxtaposition underscores the growing picture of bifurcation among income brackets in America. And adds...