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Inflation and Iran War Drive Trump to Record-Low 36% Approval Ahead of Midterms
politics13 minutes ago

Inflation and Iran War Drive Trump to Record-Low 36% Approval Ahead of Midterms

A new Fox News poll shows President Trump’s job approval has fallen to a record low of 36%, driven by widespread dissatisfaction with inflation and the cost of living. With less than three weeks until the November 3 midterms, 74% of voters rate the economy negatively, and 55% say inflation is not under control. Democrats currently lead the House race by 9 points, with 70% of voters intending to vote to send a message against the incumbent party. The economic downturn is exacerbated by the ongoing conflict with Iran, which has spiked fuel prices and undermined recent administration efforts to lower costs.

via Fox News|
#economy#inflation#iran-war
2027 Social Security COLA Set at 3.6%, but Critics Warn It Lags Inflation and Healthcare Costs
economy58 minutes ago

2027 Social Security COLA Set at 3.6%, but Critics Warn It Lags Inflation and Healthcare Costs

The Social Security Administration announced a 3.6% cost-of-living adjustment (COLA) for 2027, the largest increase in four years. This raises the average monthly benefit by approximately $75 to $2,170 for over 75 million recipients. However, advocates argue the increase fails to match current inflation rates and does not account for rising healthcare costs, leaving many seniors financially strained.

via CBS News|
#cola#economy#inflation
Montana Rally: Trump Denies Inflation as Supporters Cite Rising Costs
politics1 hour ago

Montana Rally: Trump Denies Inflation as Supporters Cite Rising Costs

President Donald Trump campaigned in Kalispell, Montana, on Wednesday, asserting that the U.S. economy is thriving despite a reported 3.7% inflation rate. While the president touted record investment and job growth, attendees reported struggling with high costs for fuel, groceries, and housing. The rally, which featured a new Pentagon weapons testing announcement, highlights a disconnect between the administration's messaging and the economic realities faced by many voters ahead of the November midterms.

via NBC News|
#campaigning#economy#inflation
September CPI surge sparks debate over Fed rate hikes
economy10 hours ago

September CPI surge sparks debate over Fed rate hikes

US inflation accelerated in September, with the Consumer Price Index rising 0.6% monthly and 3.7% annually, driven largely by a 9% jump in gasoline prices. Core inflation also climbed, raising concerns that price pressures are broadening beyond energy. Market bets on a Federal Reserve rate hike in late October have surged, while economists debate whether current borrowing costs are sufficient to cool the economy.

via Axios|
#consumer-prices#economic-growth#economy
Social Security COLA Set at 3.6% for 2027, Lagging Recent Inflation
economy15 hours ago

Social Security COLA Set at 3.6% for 2027, Lagging Recent Inflation

The Social Security Administration announced a 3.6% cost-of-living adjustment (COLA) for 2027, the largest since 2023. This increase will add approximately $75 to the average monthly benefit, raising it to about $2,170. However, the adjustment trails current inflation rates, which reached 3.7% in September. While the raise helps offset rising costs for 75 million beneficiaries, experts warn that the program’s trust fund faces insolvency by 2032, potentially leading to a 22% benefit cut if Congress does not act.

via The Washington Post|
#cola#economy#inflation
US Inflation Rebounds to 3.7% Amid Iran Conflict, Complicating Midterm Campaign
economy16 hours ago

US Inflation Rebounds to 3.7% Amid Iran Conflict, Complicating Midterm Campaign

US consumer inflation rose to 3.7% in September, exceeding forecasts and marking a sharp increase from August. The surge, driven largely by energy costs and a rebound in housing prices, poses a significant political challenge for President Trump ahead of the midterm elections. The rise coincides with escalating attacks by Iran and its allies on oil infrastructure, which have disrupted supply routes and increased fuel costs.

via The Daily Beast|
#consumer-prices#economy#inflation
Fannie Mae hikes 2027 mortgage forecast to 7.5% as rates hit 2-week low
economy16 hours ago

Fannie Mae hikes 2027 mortgage forecast to 7.5% as rates hit 2-week low

Fannie Mae economists have sharply raised their forecast for 30-year fixed mortgage rates, now predicting an average of 7.4% for the fourth quarter of 2026 and 7.5% for all of 2027. This represents a significant increase from their previous estimates of 6.8% and 6.7%, respectively. The revision follows a hotter-than-expected inflation report that drove bond yields higher. While the 30-year fixed rate reached a two-week low of 7.50% on October 13, 2026, according to Mortgage News Daily, the broader trend remains upward due to persistent inflation and rising oil prices. The Federal Reserve recently raised its benchmark rate for the first time in over three years, further influencing mortgage costs. Despite these high rates, The Washington Post notes that the housing market has become more favorable for buyers in terms of competition and price growth, though affordability remains a major barrier. Pending home sales fell 8.5% year-over-year in September, indicating a cooling market. Fannie Mae did not respond to requests for comment on the updated forecast.

via CNBC|
#economy#fannie-mae#housing-market
September CPI Hits 3.7% as Energy Costs and AI Spending Drive Broad Price Increases
economy17 hours ago

September CPI Hits 3.7% as Energy Costs and AI Spending Drive Broad Price Increases

The U.S. Consumer Price Index rose to 3.7% in September, exceeding expectations and marking the highest reading since the Iran conflict began. Gasoline prices jumped 9.1%, accounting for over half of the monthly increase, while core inflation reached 2.6%. The report highlights broad-based price pressures beyond energy, including record increases in computer software and hardware, and rising costs for apparel and toys. This data precedes the November midterm elections and has intensified speculation that the Federal Reserve may raise interest rates in October.

via NBC News|
#cpi#economy#energy-prices
US Household Debt Delinquency Hits 2008 Levels Amid Inflation Squeeze
economy18 hours ago

US Household Debt Delinquency Hits 2008 Levels Amid Inflation Squeeze

American households are falling behind on bills at rates not seen since the 2008 Great Recession, driven by persistent inflation and wage growth that lags price increases. While older Americans see rising net worth due to asset appreciation, younger and middle-aged households face record delinquency in auto loans, credit cards, and mortgages. Nearly 20% of households missed a debt payment in 2025, up from 12% in 2022, as rising costs outpace income and savings buffers erode.

via The Independent|
#consumer-finance#debt-delinquency#economy
Fed Data Reveals Widening Wealth Gap: Older Americans Thrive While Debt Burdens Grow
economy18 hours ago

Fed Data Reveals Widening Wealth Gap: Older Americans Thrive While Debt Burdens Grow

The Federal Reserve’s latest Survey of Consumer Finances shows a stark divergence in American financial health. While average net worth for households aged 50-59 reached $1.55 million, the median household net worth rose only 2% to $216,100. Simultaneously, the share of families behind on loan payments surged to nearly 20%, the highest level since the Great Recession. This indicates that wealth gains are concentrated among older, higher-income Americans, while younger and lower-income households face rising debt burdens and stagnant or declining net worth.

via USA Today|
#consumer-finances#debt-delinquency#economy