Economy

The average rate on the 30-year fixed mortgage fell this week to 6.19%, according to the latest Freddie Mac data released on Thursday. That is down from last week's reading of 6.27%.

Incoming CEO Michael Fiddelke leads Target's restructuring effort to reduce complexity and speed decision-making, cutting 8% of global headquarters team positions.

Brent crude and West Texas Intermediate futures jumped 5% following new U.S. sanctions on Russia's largest oil producers to curb Russia's ability to fund its war in Ukraine.

The Trump administration's Treasury secretary is expecting "substantial real income increases" in the first quarter of 2026, as Scott Bessent claims an affordability crisis is now "under control."

Social Security's annual COLA calculations are under scrutiny from advocacy groups, with some calling for different metrics to be used to boost or reduce the inflation adjustments.

The U.S. national debt surpassed $38 trillion for the first time this week, growing at a record pace driven by spending stemming from the aging population and elevated interest costs.

Twelve state financial officers urged the Consumer Financial Protection Bureau to preserve consumers' rights to share financial data with third parties.

Agriculture Secretary Brooke Rollins says beef imports from Argentina could help supply shortages in the U.S., which has contributed to higher prices for American consumers.

General Motors announces AI upgrades for Chevrolet, Cadillac, GMC and Buick vehicles, including a custom-built AI platform and "eyes-off" driving feature.

Chicago Mayor Brandon Johnson proposed reviving a corporate head tax of $21 per employee monthly for businesses with over 100 workers, despite companies warning of job losses.

The national average price for a gallon of regular gasoline fell to $3.05 last week as crude oil prices decline and cheaper winter-blend fuel reaches pumps.