Consumers are continuing to look to credit to ease the financial pressures of high inflation and rising interest rates, according to the recently released Q4 2022 Quarterly Credit Industry Insights Report by TransUnion.
Global inflation should ease in 2023 and 2024 as economic growth falls below historical averages, the International Monetary Fund said this week in an update to its World Economic Outlook report.
Many Americans are taking steps such as cutting back on discretionary spending and building emergency funds as they prepare for a recession, according to a new survey by J.D. Power.
Two-thirds of U.S. residents believe inflation will be worse in 2023 than it was last year, according to a new survey by WalletHub.
Bank economists expect credit conditions to soften over the next six months as the economy slows and the Federal Reserve considers additional steps to rein in inflation, according to the Credit Conditions Index released this week by ABA’s Economic Advisory Committee.
Weakening consumer and business spending, and improving supply chains, will support the Federal Reserve’s efforts to drive inflation lower this year and next toward its 2% target, according to the latest forecast of ABA’s Economic Advisory Committee, released this week.
U.S. households expected to spend less in December than they did a year ago, but spending expectations were still well above what they were immediately before the start of the pandemic, the Federal Reserve Bank of New York said this week in its quarterly Household Spending Survey.
Multiple factors have increased overall risks to U.S. financial stability over the past year, although the banking sector “remained well capitalized and maintained risk-based capital ratios well above regulatory minimums,” the Office of Financial Research said this week in its annual report to Congress.
More than 33% of Americans overspent during the holidays and 59% do not expect the economy to return to normal this year.
Corporate CEOs remained optimistic but grew more concerned about the U.S. economy in the third quarter of 2022, with a larger share of top executives saying their companies planned to cut capital spending and new hires in the next six months, according to Business Roundtable’s Q3 CEO Economic Outlook Index released today.