Overcast 34°
Tag:

Consumer Spending

News
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction The Federal Reserve kept its key interest rate in place, pausing further cuts and ignoring a demand by President Donald Trump to immediately drop rates. After three months of reductions, the Fed decided to keep the key interest rate target at 4.25 to 4.5 percent. The Fed announced the decision on Wednesday, Jan. 29, after its first meeting since President Trump returned to the White House. Chair Jerome Powell said the Fed is monitoring inflation and economic stability under the Trump administration. "We remain committed to supporting maximum employment, bringing inflation sustain…

SHARE

by Chris Spiker
Business
7-Eleven To Close Hundreds Of Stores 7-Eleven To Close Hundreds Of Stores
7-Eleven To Close Hundreds Of Stores Convenience store chain 7-Eleven is closing hundreds of stores in North America. Parent company Seven & I Holdings said that the 444 locations were “underperforming.” They make up about 3 percent of 7-Eleven's total of around 13,000 outlets in the US, Canada, and Mexico. Specific sites of the stores have not yet been released. In announcing the closures, the company said that 7-Eleven stores saw a 7.3 percent decline in traffic in August, saying a "pullback in consumer spending has persisted beyond prior expectations" that has affected store traffic and sales growth "as consu…

SHARE

by Joe Lombardi
Business
Popular Fast Casual Dining Chain Files For Bankruptcy Popular Fast Casual Dining Chain Files For Bankruptcy
Popular Fast Casual Dining Chain Files For Bankruptcy A popular fast casual dining chain has filed for bankruptcy after months of reporting financial distress. BurgerFi International, Inc., announced the Chapter 11 filing on Wednesday, Sept. 11. The Florida-based company is also the parent company of Anthony’s Coal Fired Pizza. All 144 locations of the two brands across the the nation will remain open and continue normal operations. BurgerFi makes up 93 of the eateries, and Anthony's the other 51. The Chapter 11 filing includes the 67 corporate-owned locations of both brands. "BurgerFi and Anthony's Coal Fired Pizza & Wings are dyn…

SHARE

by Joe Lombardi
Lifestyle
On The Table For Thanksgiving: Higher Prices, Fewer Options Due To Supply-Chain Issues On The Table For Thanksgiving: Higher Prices, Fewer Options Due To Supply-Chain Issues
On The Table For Thanksgiving: Higher Prices, Fewer Options Due To Supply-Chain Issues The COVID-19 related supply chain issues and price increases are continuing to impact consumers across the United States ahead of the holidays.  The Seattle Times reported that many are having to spend more in preparation for Thanksgiving Day on Thursday, Nov. 25, as the prices of many products have increased.  The news outlet said supply chain issues including transportation expenses, bad weather and labor shortages have all factored into the ballooning prices, along with inflation.  According to a report from Texas A&M Today, AgriLife Extension livestock economist Davi…

SHARE

by Nicole Valinote
Lifestyle
All-Time High? Here's How Many Americans Are Expected To Travel Over Memorial Day Weekend All-Time High? Here's How Many Americans Are Expected To Travel Over Memorial Day Weekend
All-Time High? Here's How Many Americans Are Expected To Travel Over Memorial Day Weekend Memorial Day marks the unofficial start of summer, and a near record-breaking number of Americans are expected to hit the road to kick it off this year, according to AAA. Nearly 43 million Americans are expected to mark the unofficial start of summer on a high note with a Memorial Day weekend jaunt, making it the second most traveled since AAA began tracking travelers in 2000, only behind 2005. In total, an additional 1.5 million more people are expected to travel this year on roads, rails, and runways, AAA announced, a 3.6 percent increase from last year’s holiday. According to AAA, 37.6…

SHARE

by Zak Failla
Lifestyle
Most On Record: Here's What Percentage Of Americans Will Travel This Holiday Season Most On Record: Here's What Percentage Of Americans Will Travel This Holiday Season
Most On Record: Here's What Percentage Of Americans Will Travel This Holiday Season Planning on traveling for the holidays? You won’t be alone. Fresh on the heels of one of the busiest Thanksgiving travel seasons, Americans getting ready to go on the move for the Christmas and New Year holidays. AAA estimates that a record-breaking 112.5 million travelers - more than a third of all Americans - are expected to visit family and friends for the holiday. “’Tis the season for holiday travel, and more Americans than ever will journey to spend time with friends and family or choose to take a vacation,” Bryan Shilling, managing director of AAA Travel products and services stated. …

SHARE

by Zak Failla