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US mortgage rates have reached their highest level in nearly three years, pushing borrowing costs up and mortgage applications down to their lowest since February 2025. The surge comes amid rising Treasury yields, elevated oil prices tied to tensions with Iran, and voter anxiety over the cost of living ahead of the midterm elections.
Federal Reserve Chair Kevin Warsh warned that inflation is not yet on a clear path to the 2% target and signaled a possible interest rate hike if price pressures persist. Markets now see a 57.4% chance of a September rate increase, and analysts view his remarks as more hawkish than before.
Vice President JD Vance returned to Ohio for a midterm rally, emphasizing economic achievements. Polls show declining voter confidence in Republican economic policies, while Democrats eye opportunities in the state.
President Donald Trump announced a temporary suspension of higher beef import tariffs on up to 300,000 tons of ground beef for 90 days, aiming to cut consumer prices. He did not specify the countries or companies involved, but a White House official said an executive order would be signed within two weeks.
President Donald Trump has threatened an unprecedented economic campaign against Iran, dubbing it 'economic D-Day,' but US stock markets suffered their worst decline in three weeks immediately after, while national debt surpassed $40 trillion. The war and sanctions have disrupted global energy markets, with oil prices rising and bond yields hitting multi-decade highs.
The U.S. national debt has surpassed $40 trillion for the first time, doubling since 2017. Analysts warn that heavy borrowing, rising spending, and tax cuts could lead to a fiscal crisis with global repercussions.
The U.S. national debt has surpassed $40 trillion for the first time, doubling since 2017 and raising alarms about fiscal sustainability. The surge, driven by pandemic spending and ongoing deficits, now amounts to about $117,000 per American. Interest costs have overtaken Medicare as a major budget burden.
A new Reuters/Ipsos poll shows President Donald Trump's approval rating has hit a record low for his term, with only 33% of Americans satisfied with his performance. The decline is driven by widespread concern over the prolonged war with Iran and rising fuel prices.
American families are increasingly paying the price for risky decisions by the nation's leaders, as economic pressures and foreign policy challenges mount. Rising living costs, financial hardship, and widespread anxiety are taking a toll on households across the country.
