Consumers, looking ahead, think inflation’s growth rate will moderate. But their outlook about the economy right now, and where it’s headed, is muted. To that end, the University of Michigan released its Consumer Sentiment report for September that showed that the overall sentiment was 67.7 points, down...
Real incomes are falling, and for the paycheck-to-paycheck economy, the struggle to meet monthly obligations will continue to be a challenge at best — and at worst, an impossibility. The U.S. Census Bureau announced this week that real median household income fell by 2.3% from $76,330...
With menu prices continuing to rise, quick-service restaurant (QSR) inflation is outstripping full-service dining by a considerable margin. Specifically, Bureau of Labor Statistics (BLS) Consumer Price Index (CPI) data reported Wednesday (Sept. 13) showed that in August, prices for “limited service meals and snacks” were...
Consumers are in the aisles, spending on groceries, the clothes on their backs — and at brick-and-mortar locales, pivoting a bit from online channels. At least if the month of August is any indication. To that end, the Commerce Department reported Thursday (Sept. 14) that...
It’s a season of pain at the pump, no matter what type of fuel you’re pumping. As The Wall Street Journal (WSJ) noted in a report Thursday (Sept. 14), the cost of diesel, jet and marine fuels have all jumped to 10-month highs, stretching company budgets across...
Citi says it is embarking on a major restructuring of its organization that eliminates a number of management layers. The new structure, announced Wednesday (Sept. 13), elevates the leaders of the banking giant’s five businesses while also doing away with a number of positions, making Citi the latest...
Inflation has notched a milestone this summer, reaching its highest level for the year. And the pressure to put food on the table and pay for rent and clothing bumps up against paying for gas. The latest Consumer Price Index from the U.S. Bureau of...
Goldman Sachs CEO David Solomon reportedly expressed uncertainty about the U.S. economic outlook while highlighting the potential for a soft landing. The chance of a relatively soft landing has increased over the past year, but inflation may be more persistent than expected, Solomon told Reuters Tuesday (Sept. 12). Solomon highlighted...
Truist Financial will make “sizeable reductions” in its workforce from the third quarter through the first quarter of 2024. This is part of an effort to take out costs and lower expense growth, the financial services bank said in a presentation posted on its website Monday...
