The Associated Press

WASHINGTON (AP) — The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it. Some of America’s largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren’t cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn’t raise prices very much without losing business.

Americans’ refusal to keep paying higher prices may be dealing a final blow to US inflation spike

POLITICO

Fissures are forming in the economy just as the Fed’s long-running fight against inflation looks to be nearing its conclusion.

Inflation is easing. Now, Harris has an even bigger problem with the economy.

Though the best CD rates have been drifting lower ahead of a likely Fed rate cut next month, all the leading rates have held their ground the last several days. You can still earn the nation's tip-top rate of 5.40% from INOVA Federal Credit Union, whose 5-month CD guarantees your rate to 2025.

Top CDs Today, Aug. 26, 2024 - Lock in a Rate of 5.15% to 5.40% Until 2025

The Center Square

(The Center Square) – New federal economic data shows that previous data significantly overestimated the health of the U.S. economy.
                The Department of Labor released revised jobs data that showed they overestimated the number of jobs created in the U.S. economy by 818,000, a whopping revision that set off alarm bells Wednesday.
                Economic data is often revised, but the size of this change is large enough to raise eyebrows.
 ...

‘Shocking’ jobs number revision brings questions about Biden-Harris economy

Bath & Body Works expects net sales to fall between 2% and 4% this year, worse than its previously offered guidance. CEO Gina Boswell called the lower range "prudent" amid challenging consumer spending trends. The retailer also missed expectations with its second-quarter net sales. Bath & Body Works (BBWI) shares...

Bath & Body Works Offered a 'Prudent' Outlook. Its Shares Are Falling

Community Voices represent independent, third-party users who have joined our contributor program but not yet verified their accounts. Community Voices are expected, like all users, to adhere to our Community Standards.

community_voice

NewsNinja

A lady is cautioning others about purchasing budget earrings from Amazon, Shein, and H&M, after she experienced keloid formations on her earlobes due to wearing them. On a TikTok post that has garnered more than 334,000 likes, Sailor Rozema (@sailor.rozema), a content creator, shares a warning with her community of "dangly earring girls": the inexpensive jewelry found in fast fashion can have negative impacts on your well-being.

‘I’ll never be wearing earrings for the rest of my life’: Customer warns against buying from Shein

Kohl's beat profit estimates for the second quarter, despite lower sales, as the discount department store operator cut costs. Kohl's warned about a challenging consumer environment but raised its full-year outlook for earnings per share. Kohl's shares edged higher Wednesday, but they've lost nearly a third of their value this...

Kohl's Cuts Costs to Address a Challenging Consumer Environment

California State

The national average price for a regular gallon of gas was $3.36 going into Labor Day weekend. In much of the South, drivers pay the lowest prices of less than $3 a gallon. Prices on the West Coast are some of the highest in the nation but are lower than they were last year.

These States Have the Most Expensive Gas Prices This Labor Day Weekend

Business Insider

The unemployment rate is on track to surpass 5% by the end of the year, David Rosenberg, a top economist, says.

The US economy will start losing jobs by the end of this year, top economist says

Texas State

An uptick in sausage demand can offer the latest sign of consumers tightening their belts as they continue grappling with high prices. There has been "modest growth" in the dinner sausage category for one producer, according to the Dallas Federal Reserve's Texas Manufacturing Outlook Survey released Monday. This underscores the trends of shoppers opting for cheaper products and pulling back spending all together as cumulative inflation bites into purchasing power.

Increased sausage demand could be worrying signal on the economy

Charlotte, NC

Tampa, FL

Fox Business

A new report published by Realtor.com found that the share of available home listings that saw a price cut in July rose to the highest level in two years.

Home prices are finally starting to fall – and they dropped the most in these 3 cities

Higher food costs are pinching budgets and inflation eroded the value of savings, Donald Trump said, while Elon Musk blamed government overspending.

Trump called inflation a disaster for consumers — and Musk blamed it on government waste

US consumers’ confidence rose in August as their expectations for the future improved, according to The Conference Board, a business research group. The group’s monthly Consumer Confidence Index — which measures US consumers’ assessment of current economic conditions and their outlook for the next six months — rose to 103.3 from 101.9 in July.

US consumers more upbeat on economy, inflation

Colorado State

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

American depositary receipts (ADRs) of Chinese e-commerce company PDD Holdings are plunging in premarket trading Monday after the parent of discount marketplace Temu posted lower-than-estimated sales. PDD reported second-quarter sales of 97.06 billion yuan ($13.63 billion), below consensus estimates of analysts polled by Visible Alpha. PDD chairman and co-CEO Lei...

Temu Parent PDD Stock Sinks on Worse-Than-Expected Q2 Sales

Shares of Warren Buffett's holding company, Berkshire Hathaway, rose in intraday trading on Wednesday, pushing its market capitalization above $1 trillion for the first time. Berkshire is just the 8th U.S. company, and 9th in the world, to cross the $1 trillion mark. In his six decades at the helm...

Warren Buffett's Berkshire Hathaway Enters $1 Trillion Club

Apple shares are likely to remain in focus ahead of a Sept. 9 event where the tech giant is expected to unveil the iPhone 16 with AI capability, as well as new versions of the Apple Watch and AirPods. In other news, the tech giant announced late Monday that it...

Watch These Apple Stock Price Levels Ahead of Expected iPhone 16 Launch

Florida State

Latinas contributed $1.3 trillion to the U.S. gross domestic product in 2021, up from $661 billion in 2010 and at a growth rate nearly triple that of non-Latinos during the same time period, according to a new report funded by Bank of America and conducted by professors at California Lutheran University and UCLA.

U.S. Latinas contributed $1.3 trillion to the GDP, about as much as Florida’s economy, report finds

Louisiana State

The Lens

During my childhood, when my family visited relatives “across the river,” in Bayou Plaquemine, Bayou Goula, Caddo, the Pointe, and White Castle, my siblings and I would sometimes race up and down the levees, some distance away from the cows grazing there. At the summit of the hill, you could see the Mississippi River waters through stands of trees and brush. It never occurred to me that our “playground” was the living testimony of Black men, prisoners of the Louisiana State Penitentiary at Angola whom the state of Louisiana had re-enslaved in the convict leasing system.

No longer ‘half slave, half free’

GOBankingRates

There's been a lot of talk about U.S. wages over the years. It's no secret that there are disparities between income groups and that wages have struggled to keep up with inflation. But it's not always...

Here’s How Much Income Has Changed for Low, Middle and High Earners

NewsBreak

What To Expect From This Friday's Report On Inflation

A report on inflation Friday is likely to show that consumer price increases continued to run cool in July, following a trend set by recent data...

What To Expect From This Friday's Report On Inflation

Comments / 0