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More Travelers Using Credit Card Perks Amid Trump Tariffs, Study Says: Here's How More Travelers Using Credit Card Perks Amid Trump Tariffs, Study Says: Here's How
More Travelers Using Credit Card Perks Amid Trump Tariffs, Study Says: Here's How As summer travel heats up and President Donald Trump's tariffs weigh on Americans, many vacationers are looking to credit card perks to reduce costs. WalletHub released two studies about rental car and travel insurance benefits on Tuesday, June 24. About 43% of Americans said Trump's tariffs will push them to explore credit card travel benefits. These sometimes overlooked perks can add up to big savings, especially for residents in high-cost states across the Northeast. "Tariffs and inflation have travelers feeling a bit antsy, and many are turning to long-overlooked credit …

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by Chris Spiker
Business
Inflation Ticks Up, Spending Slips As Trump's Tariffs Tighten Grip On Economy Inflation Ticks Up, Spending Slips As Trump's Tariffs Tighten Grip On Economy
Inflation Ticks Up, Spending Slips As Trump's Tariffs Tighten Grip On Economy Consumer spending cooled in May as inflation crept higher, signaling new pressure on Americans' wallets amid President Donald Trump's sweeping tariffs. The Federal Reserve's primary inflation reading, the personal consumption expenditures price index, rose 0.1% in May to an annual rate of 2.3%, according to Bureau of Economic Analysis data released on Friday, June 27. Those increases matched ones forecasted by Dow Jones economists, CNBC reported. Core inflation, which excludes food and energy, rose by 0.2% in May to 2.7%, slightly ahead of the 0.1% and 2.6% forecasts. Th…

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by Chris Spiker
Real Estate
New Home Sales Sink In May, Supply Hits Three-Year High As Trump Tariffs Strain Market New Home Sales Sink In May, Supply Hits Three-Year High As Trump Tariffs Strain Market
New Home Sales Sink In May, Supply Hits Three-Year High As Trump Tariffs Strain Market New home sales plunged in May while housing supply surged to a three-year high, as rising prices, growing inventory, and the impact of President Donald Trump's tariffs deepened the US housing slowdown. Sales of new single-family homes fell to a seasonally adjusted annual rate of 623,000 in May, the US Census Bureau and Department of Housing and Urban Development said on Wednesday, June 25. That's down 13.7% from April and 6.3% from May 2024. The total also fell far below Wall Street's expectations. The Dow Jones had forecasted 695,000 sales for May, CNBC reported. The actual figur…

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by Chris Spiker
Business
McDonald's, Krispy Kreme End Doughnut Partnership As Chains Face Sales Slumps McDonald's, Krispy Kreme End Doughnut Partnership As Chains Face Sales Slumps
McDonald's, Krispy Kreme End Doughnut Partnership As Chains Face Sales Slumps The Krispy Kreme "red hot" light is about to turn off at McDonald's. Krispy Kreme and McDonald's are ending their deal to sell the popular doughnuts at the fast-food restaurant, the companies announced on Tuesday, June 24. The partnership will officially end on Wednesday, July 2. The move ends plans to expand Krispy Kreme doughnuts to McDonald's locations nationwide by 2026. "Ultimately, efforts to bring our costs in line with unit demand were unsuccessful, making the partnership unsustainable for us," Krispy Kreme CEO Josh Charlesworth said. The companies launched a pilot progr…

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by Chris Spiker
Real Estate
Builder Confidence Sinks Near Pandemic Low As Trump Tariffs Worry Homebuyers Builder Confidence Sinks Near Pandemic Low As Trump Tariffs Worry Homebuyers
Builder Confidence Sinks Near Pandemic Low As Trump Tariffs Worry Homebuyers Homebuilder confidence just sank to its third-lowest level since 2012 as President Donald Trump's sweeping tariffs and stubbornly high mortgage rates scare off prospective homebuyers. Builder sentiment dropped two points to 32 in June, according to the National Association of Home Builders/Wells Fargo Housing Market Index released on Thursday, June 17. That's barely above the readings of 31 in December 2022 and 30 in April 2020. In the Northeast, sentiment slipped one point to 43 on a three-month moving average. A score above 50 means more builders see conditions as good than poor…

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by Chris Spiker
Business
Retail Sales Fall Sharply As Trump Tariffs Hurt Consumer Spending In May Retail Sales Fall Sharply As Trump Tariffs Hurt Consumer Spending In May
Retail Sales Fall Sharply As Trump Tariffs Hurt Consumer Spending In May US retail sales fell more than expected in May as consumers pulled back on spending amid rising economic anxiety fueled by President Donald Trump's tariffs. Seasonally adjusted sales dropped 0.9% in May to $715.4 billion, the US Census Bureau said on Tuesday, June 17. That was even worse than the 0.6% decline forecasted by the Dow Jones consensus, CNBC reported. The tumble followed a downward revision for April, which is now listed as a 0.1% decrease. Compared to last May, sales were up 3.3%, but momentum appears to be slowing. The steepest decline came from a…

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by Chris Spiker
Business
Major Home Goods Chain Declares Bankruptcy, Blames Trump Tariffs: See List Of Closing NJ Stores Major Home Goods Chain Declares Bankruptcy, Blames Trump Tariffs: See List Of Closing NJ Stores
Major Home Goods Chain Declares Bankruptcy, Blames Trump Tariffs: See List Of Closing NJ Stores A popular home goods retailer is declaring bankruptcy, citing President Donald Trump’s sweeping tariffs and a significant drop in consumer spending. At Home has filed for Chapter 11 bankruptcy, the Dallas-area company announced on Monday, June 16. The retailer said it reached a deal with lenders to eliminate nearly $2 billion in debt and receive a $200 million capital infusion. The move will allow At Home to continue operating during the court-supervised restructuring process. "We are continuing to offer the home furnishing pairings that customers expect to find at our store…

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by Chris Spiker
Business
Scammers Using Trump Tariff Confusion To Trick Online Shoppers, BBB Warns Scammers Using Trump Tariff Confusion To Trick Online Shoppers, BBB Warns
Scammers Using Trump Tariff Confusion To Trick Online Shoppers, BBB Warns Scammers are using the confusion surrounding President Donald Trump's changing tariffs to cover up missing packages and ignore refund requests. The Better Business Bureau says it's seeing more reports of shady sellers blaming "tariffs" and "customs delays" when products don't arrive. In many cases, the sellers vanish after taking your money. The BBB has warned that shoppers aren't typically responsible for tariffs after buying online and it's a red flag if a seller says your item is stuck in customs due to tariffs. "After 2 months of not receiving my product I have…

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by Chris Spiker
Business
Retailers Bet On Trump Backing Down From His Tariffs, New Survey Shows Retailers Bet On Trump Backing Down From His Tariffs, New Survey Shows
Retailers Bet On Trump Backing Down From His Tariffs, New Survey Shows Many retail executives are starting to follow Wall Street's "TACO trade" philosophy, according to a new survey. A growing number of retail leaders believe President Donald Trump will retreat on his sweeping tariffs against many countries, according to a survey from consulting firm AlixPartners. The survey released on Sunday, June 1, was first reported by CNBC. Executives from major brands and retailers were asked about how they were planning for the July expiration of Trump's 90-day pause on his so-called "liberation day" tariffs. A majority said they expect the president to settl…

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by Chris Spiker
Business
Largest US Banker Warns US Economy Could 'Deteriorate' As Global Growth Forecast Dims Largest US Banker Warns US Economy Could 'Deteriorate' As Global Growth Forecast Dims
Largest US Banker Warns US Economy Could 'Deteriorate' As Global Growth Forecast Dims The head of one of the nation’s largest banks says the U.S. economy may be slowing — and that could hit local households and businesses hard in the months ahead. “I think there’s a chance real numbers will deteriorate soon,” JPMorgan Chase CEO Jamie Dimon said during a financial conference this week, per CNBC. He explained that while the country has seen gains in jobs and spending, there are signs that the economy may be cooling.  “Employment will come down a little bit. Inflation will go up a little bit. Hopefully, it’s just a little bit,” Dimon said. He added that lower immigration …

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by Josh Lanier
Business
Major Supermarket Chain Slashing Prices On 400+ Items Despite Trump Tariffs: Here's Why Major Supermarket Chain Slashing Prices On 400+ Items Despite Trump Tariffs: Here's Why
Major Supermarket Chain Slashing Prices On 400+ Items Despite Trump Tariffs: Here's Why At a time when many grocery bills are going up, Aldi is going in the other direction. Aldi will cut prices on more than 400 items across all its stores, the company announced. The move comes as President Donald Trump's sweeping tariffs have increased the costs of many staples and shaken consumer confidence. The supermarket chain said it's reducing prices for many items like fresh meat, organic produce, pantry goods, and picnic snacks. "While customers may see higher prices at other retailers, we're working hard to unlock even more value for our shoppers, just in time for sum…

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by Chris Spiker
News
Trump Says US Has Reached Trade Deal With China Trump Says US Has Reached Trade Deal With China
Trump Says US Has Reached Trade Deal With China President Trump has announced that the United States has reached a trade deal with China following two days of intense negotiations in London. "Our deal with China is done, subject to final approval with President Xi and me," Trump posted in all caps on Truth Social Wednesday morning, June 11. "Full magnets, and any necessary rare earths, will be supplied, up front, by China.  "Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!) "We are getting a total of 55% tariffs, China is getti…

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by Joe Lombardi