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...
Small business job creation plans fell to a six-year low in May, driven by war-related oil prices and uncertainty, according to the National Federation of Independent Business (NFIB). This drop contributed to small business optimism falling to its lowest level since October 2024. The NFIB’s...
More households are feeling worse about their financial situation, the Federal Reserve Bank of New York said in a Monday (June 8) press release. The New York Fed’s May Survey of Consumer Expectations found deterioration both in households’ perceptions of their current financial situation and...
The labor market remains resilient, though there were signs in May that employment may decrease in the coming months, The Conference Board said in a Monday (June 8) press release. The potential change was signaled by The Conference Board Employment Trends Index (ETI), which declined...