Chief financial officers grew more optimistic about their own firm in the second quarter even as they got less optimistic about the overall U.S. economy, according to the latest CFO Survey released Wednesday (June 24) by the Federal Reserve Bank of Richmond, in collaboration with...
Polymarket reportedly paid content creators to film themselves making fake trades and scoring phony wins. That’s according to an investigation by The Wall Street Journal (WSJ) published Sunday (June 21), based on an analysis of more than 1,100 videos by the publication, along with instructional...
Citigroup changed its expectations for a Federal Reserve interest rate cut, Reuters reported Thursday (June 18). The banking giant is a “longstanding Fed dove” among big brokerages, the report said. Now, however, the hawkish position of policymakers in the United States has Citi projecting 25-basis-point...
The cutback economy is proving less about consumer retreat than consumer prioritization. PYMNTS Intelligence’s latest Generational Pulse Report found that while 66% of consumers in the United States facing cost-of-living pressures are cutting back on everyday spending, consumers are making increasingly deliberate decisions about what...
Kalshi has reportedly built an artificial intelligence (AI) agent designed to help run its prediction market. Among the things this new tool was built to do is address issues around the wording of the company’s wording of its prediction market contracts, co-founder Luana Lopes Lara...
Americans are still spending on discretionary items, despite inflation, higher gas prices and the concern about affordability they share with researchers, Bank of America CEO Brian Moynihan told NBC News. “We watch what they do, not what they say,” Moynihan said in an interview, NBC...
Gary Gensler, a former chairman of the Commodity Futures Trading Commission (CFTC), disagrees with the current CFTC on the issue of sports betting versus swaps. While the CFTC says trading around the outcomes of sports events on prediction markets are swaps that are within its jurisdiction, Gensler said that...
Inflation accelerated in May, and while energy prices continue to grab headlines, shelter, food and services, categories that account for a large share of recurring household expenses, continued to climb. The Consumer Price Index (CPI) data released Wednesday (June 10) by the Bureau of Labor...
JPMorgan Chase’s consumer and community banking chief said the lender is keeping an eye on consumer health. During a speech Tuesday (June 9) in New York City, Marianne Lake said that while consumers remained resilient and spending sturdy, there was a “small” group of people for whom salary increases...