Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
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The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
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"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
Despite the dangers of high-interest loans, more consumers are testing the limits of plastic.
To that point, more than 1 in 3 people —or 86 million Americans — said they're afraid they'll max out their credit card when making a large purchase, according to a new WalletHub credit cards survey. (Most of those polled considered a large purchase as anything over $100.)
"Maxing out your card essentially means you are over-utilizing your credit," said Jill Gonzalez, an analyst at WalletHub.
"You are not going to be able to pay that off in a timely fashion," she added, resulting in higher interest payments and damaging your credit score in the long run.
Still, most Americans continue to take on ever-increasing amounts of debt. According to data from the Federal Reserve, the U.S. surpassed $1 trillion in credit card debt — the highest level since the Great Recession.
The average household is carrying a $6,929 balance month to month and coughing up about $1,140 a year in interest, according to a separate report by NerdWallet.
Certain groups are more prone to maxing out their cards than others, WalletHub found.
For example, men were 15 percent more likely than women to have maxed out a card, as were millennials when compared with older generations, particularly boomers. And, not surprisingly, lower-income cardholders had a greater chance of maxing out a card on a big-ticket item than their higher-earning counterparts.
At the same time, credit card interest rates have never been higher, setting the stage for potential problems for those at-risk consumers.
The average card interest rate is currently at a record 17.41 percent, according to CreditCards.com's latest report. That's up from 16.15 percent one year earlier and 15.22 percent two years ago.
WalletHub polled more than 500 people in January.