Consumer credit creep

Inflation is affecting all of us. But when costs go up, lower-income households are especially vulnerable to credit creep — that’s when consumers use credit for more and more transactions. One survey found 29% of buy now, pay later users took out the loans to pay for groceries, double the percentage from just a couple of years ago. Also in this episode: What might happen to the labor market if Fed raises interest rates, how immigration crackdowns are tied to a 14-year homebuilder confidence low, and why political candidates are competing for AI attention.

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Read the stories in today’s episode:

• What will happen to the job market if the Fed raises interest rates?
• Struggling consumers are increasingly turning to high-cost credit for basic needs
• This farmer was promised a $20,000 grant to go solar. USDA changed the rules
• How immigration crackdowns are tightening the construction labor market
• Candidates campaign for AI attention
• Home-based coffee shops provide unique perks for owners and customers