The Fed’s market maker and fiscal agent for its Second District
A consortium of outlets reports rising unsecured debt and anxiety among Americans. WalletHub and the New York Fed show higher balances and delinquency, while debt-management strategies and budgeting advice circulate. The data highlight stress across income levels and the need for clear repayment plans.
The job market has shown renewed strength in May with robust hiring across multiple sectors, led by healthcare and leisure and hospitality. Unemployment remains near historic lows, even as inflation pressures persist and energy costs rise amid the Iran conflict. Analysts caution that hiring momentum varies by sector and region.
A Penn State-led study shows four minutes of four key exercises can meaningfully improve physical function in adults 65+, with benefits appearing within 12 weeks. The quick routine, FAST-2, uses push-ups, chair stands, two-arm rows and stair stepping with minimal equipment, and high adherence was observed.
Automakers have pulled several electric models from the U.S. market even as quarterly EV sales have risen. Q2 2026 U.S. consumer EV purchases have reached 247,226 vehicles, a sequential rise driven by higher fuel prices, new low-cost entrants and state rebates. Manufacturers and startups are responding with cheaper models, but many legacy brands have cancelled or delayed U.S. EV projects.
Iraq’s prime minister travels to Washington to deepen economic ties as the Strait of Hormuz remains closed and fighting between the US and Iran intensifies. Oil output, IMF talks, and potential US investment are on the table while Iran-backed groups push back against disarmament. Diplomatic prospects hinge on stabilizing energy flows and expanding state control over weapons.
The Iraqi prime minister-designate has arrived in Washington as Washington pressures Baghdad to disarm Iran-backed militias and curb corruption. The visit centers on expanding economic ties, attracting investment, and reinforcing state control, amid Tehran’s influence and security challenges.
UK regulators are expanding Buy Now, Pay Later oversight. From July 15, BNPL providers must be authorised by the FCA, undergo affordability checks, and offer clearer information and complaint routes. The changes aim to protect consumers while preserving access to flexible payments.
As AI infrastructure expands, builders report shortages in electricians and skilled trades, while energy and material costs tighten the supply chain. The buildout is powering new, well‑paid jobs even as critics flag environmental and energy concerns.
The yen has weakened back toward ¥159–¥160 per dollar after a rare coordinated U.S.-Japan intervention in late July briefly lifted it to about ¥155. Markets are reverting to carry-trade dynamics: low Japanese rates and higher U.S. yields are encouraging investors to borrow yen and buy higher-return assets, keeping downward pressure on the currency.
The latest reports show total credit card balances rising to $1.26 trillion in Q2 2026, with 12.8% of balances 90 days past due. Delinquencies in student loans have slowed in Q2, but defaults remain high as the SAVE plan ends and litigation continues.