(CNN) — When it comes to living large, baby boomers are at the top of the list. meanwhile, younger Americans are struggling just to keep up. Internal data from Bank of America shows a “significant gap” in spending has opened recently between older and younger generations. while baby boomers and the generation before them are spending their money on traveling…
In the meantime, Von Nessen says the holdup is hurting the US economy and impacting GDP.
U.S. applications for jobless benefits rose to their highest level in more than a year, but remain at relatively low levels despite efforts by the Federal Reserve to cool the economy and job market in its battle against inflation
Freshly re-elected Governor Henry McMaster delivered his State Of The State address Wednesday night.
ABC Columbia’s Lee Williams provides a recap on the governor’s speech, as well as rebuttals from Democratic State Senator Ronnie Sabb.
Despite inflation consumers are planning to spend around $830 on average on gifts and holiday items, according to the National Retail Federation.
The latest jobs report is out today and the U.S. economy saw a rise in jobs last month.
With classes beginning this week for schools like the University of South Carolina and Benedict College, students have returned to Columbia’s downtown.
Mayor Daniel Rickenmann is excited for their return, and for what their return means for Columbia.
The Federal Reserve has raised interest rates in an effort to combat high inflation. Von Nessen believes that we will also see less new spending from the federal government.
Consumer News: Mortgage rates see largest decline since 2008, June sees boost in hiring in the U.S. and more!
Americans are facing a triple threat to their finances, as U.S. stocks have dipped into a bear market. The Federal Reserve is expected to increase interest rates Wednesday, and, some economists say a recession is likely.
