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Happy Holidays To All Who Serve 12/22/2025 10:28 am By Grant Sheehan and Anthony Hernandez Every year, many Americans celebrate the joy of family and relief from work the holidays bring. Apart from the hustle and bustle, the holiday season is a special time to be with loved ones, engaging in family traditions and rituals, and making memories that will last a lifetime. However, not everyone gets to partake in the holiday gatherings. There are over a hundred thousand military members serving in harm’s way or in 24-hour command center...
Gold Standard The gold standard, explained A gold standard is a system where a country’s currency is pegged to, and can be converted into, a fixed amount of gold. It’s typically meant to create a sense of security in the country’s currency: When a government uses a gold standard , its currency can be exchanged for an equivalent amount of gold—although regulations around redemption vary by country. After the Civil War, in 1873, America adopted the gold standard for the first time. At the time, if gold was priced at $100 an ounce, each dollar rep...
While there have been fears expressed by some of a repeat of the housing bubble that led to the housing crisis just over a decade ago, numerous real estate analysts say they believe the market fundamentals are much stronger now and that the sharp increase in home prices reflects low rates, a lack of inventory, and demographics. To be sure, the market is hot in many markets, with home sellers receiving multiple cash offers, often over the listed price, on homes. Some analysts, including those at Swiss banking giant UBS, have published charts showing how home prices are outstripping both wages and rents, reported USA Today. Home prices have appreciated more than 60% since November 2012, incomes have only appreciated by 20% and rents by 30% over the same time period, the report added. “But unlike the real estate boom that led to the Great Recession, this nationwide price spike is not being fueled by a wholesale collapse in lender ethics,” USA Today reported “There aren't any low-doc o...
Curt Long said a strong jobs report shows resilience despite the Fed’s escalation in interest rates. By Jim DuPlessis | January 06, 2023 CUTimes Source: Shutterstock. NAFCU Chief Economist Curt Long said Friday the continued strength in the job market has increased the odds the nation will dodge a recession this year. The U.S. Bureau of Labor Statistics reported Friday there were 153.7 million seasonally adjusted jobs in December, an increase of 223,000, or 0.1%, from November and up 3% from a year earlier. The unemployment rate was 3.5% in December, down from 3.6% in November and 3.9% in December 2021. Long said December’s rate was the lowest in more than 50 years, while the labor force participation rate rose slightly. Seasonally adjusted average hourly earnings were $32.82 in December, up 0.3% from November and up 4.6% from a year ago, a slightly lower rate of increase from previous months. Curt Long “This is an unambiguously positiv...
03/10/2025 06:31 pm Share TROY, Mich.— A new study reveals the appeal of buy now, pay later is not waning, as the service saw significant growth last year. The J.D. Power 2025 U.S. Buy Now Pay Later Satisfaction Study shows BNPL enjoyed continued, significant growth in the number of consumers using the product year over year, with the highest usage among consumers from Generations Y and Z, and the highest growth period during the holidays. “The BNPL segment has undoubtedly grown in popularity, with more customers using these services than ever before,” said Sean Gelles, senior director of banking and payments at J.D. Power. “That’s been especially true around seasonal periods of higher spending, such as the holidays. Card-based BNPL products continue to lead the charge on satisfaction, as issuers are leveraging their existing brand awareness and equity to retain would-be defectors.” Following are some of the key findings of the 2025 study: Gene...
Lake Manly Returns An ancient lake has reemerged in California's Death Valley National Park following record rainfall this year. Between 128,000 and 186,000 years ago, meltwater from ice covering the Sierra Nevada fed rivers that emptied into Badwater Basin, North America’s lowest point at 282 feet below sea level. The steady flow sustained Lake Manly, nearly 100 miles long and roughly 600 feet deep. The lake disappeared as Death Valley evolved into the driest place in North America , with some areas receiving under two inches of rain annually. This year, however, the park received 2.41 inches between September and November, marking its wettest autumn on record and triggering the temporary return of a shorter, shallower Lake Manly. Above-average rainfall periodically brings Lake Manly back, including in 2023 when Hurricane Hilary dumped 2.2 inches of rain on a single August day, allowing visi...
Don't think of the new Apple Savings account as a standalone competitive banking product. Analysts say it's one more brick for building a 'walled garden' of financial and other services for iPhone users that will drive the growth of Apple Pay, Apple Card, and more of the big tech's offerings. By Steve Cocheo , Executive Editor at The Financial Brand Many in banking may view the news of Apple’s latest consumer financial product — a high-yield savings account — as unlikely to be a game-changer. High-yield digital savings offers abound and tend to come out of the woodwork in rising-rate environments. Yet Apple being Apple, things are never that simple, or obvious. The Financial Brand dug behind the headlines to tease out key aspects of the rollout. Taken together, they present a compelling case that once again, Big Tech is taking incremental steps to dominate what it views as a financial ecosystem. The latest case in point is Apple’s October 2022 announcement that it ...
NET LIQUIDITY CHANGE FOR U.S. CREDIT UNIONS | DATA AS OF 06.30.22 © Callahan & Associates | CreditUnions.com The federal government took a variety of steps to provide economic relief during the first year of the pandemic, including distributing trillions of dollars directly to consumers. As a result, credit union shares grew at record rates – well outpacing loan growth – leading to sizeable increases in liquidity. However, with the pandemic now mostly in the rearview mirror, credit unions are beginning to unwind the liquidity built up during the crisis. Credit unions reported 6.6% quarterly growth in outstanding loan balances as of 2Q22, well outpacing share growth over the same period, leading to liquidity outflows of $82.3 billion since March. This is a large change from 1Q22, when liquidity moderately increased by $16.8 billion. As economic activity expands, this liquidity is being converted from cash into impactful...
WASHINGTON–The U.S. economy grew more than previously thought in the second quarter, data released Thursday shows, “bolstering the case that the country may be experiencing a so-called soft landing,” according to one new analysis. Gross domestic product grew at a 3% seasonally and inflation-adjusted annual rate, the Commerce Department said in its revised estimate. That is up from the 2.8% rate reported last month, and it is far above the first quarter’s weak 1.4% expansion. Initial jobless claims for the week ended Aug. 24 also fell slightly, according to the Labor Department, another positive sign for the health of the U.S. economy, noted the Wall Street Journal in its analysis of the newest data. ‘All But Certain’ “Despite the economy's...
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