US Consumer Confidence , Shaken Amid High Prices , and Lingering Recession Fears.
'The Independent' reports that consumer
confidence in the United States continues to
hold steady despite high prices and declining
optimism regarding the short-term future.
'The Independent' reports that consumer
confidence in the United States continues to
hold steady despite high prices and declining
optimism regarding the short-term future.
On March 26, the Conference Board research group
released its consumer confidence index, which
measures Americans' outlook for the next six months.
The index tracking consumer
confidence fell to 104.7 in March
from a revised 104.8 in February.
The index measuring short-term expectations
for income, business and the overall job
market fell to 73.8 from 76.3 last month.
'The Independent' reports that
any number below 80 could signal
the potential for a recession.
At the same time, consumers'
view of current conditions improved
to 151 from 147.6 last month.
The month before, consumers'
optimism regarding current
conditions had been at 154.9.
Economists pay close attention to consumer
spending as it accounts for approximately
70% of the United States' economic activity.
Last month, the Conference Board's
index saw larger declines, falling from
106.7 from a revised 110.9 in January.
At the time, economists had forecast
that the index was going to stay
steady from January to February.
The index tracking short-term
expectations fell from 81.5
in January to 79.8.
Credit: Wibbitz Top Stories Duration: 01:31Published
Biden Forgives $6 Billion in Student Debt , for Public Service Workers.
On March 21, the Biden administration canceled nearly $6 billion in student loans for approximately 80,000 public service workers, NPR reports.
Such workers include teachers,
nurses, firefighters and more.
Such workers include teachers,
nurses, firefighters and more.
Such workers include teachers,
nurses, firefighters and more.
These public service workers have
dedicated their careers to serving their
communities, but because of past
administrative failures, never got the
relief they were entitled to under the law, President Joe Biden, via statement.
Because of the fixes my administration
has made, we have now canceled student
debt for over 870,000 public service workers —
compared to only about 7,000 public
service borrowers ever receiving
forgiveness prior to my administration, President Joe Biden, via statement.
Those who are eligible for this round of student
loan forgiveness will receive an email next week.
Thousands more who are enrolled in the
Public Service Loan Forgiveness program
will receive emails "if they are within two years
of having their debt forgiven," NPR reports. .
The announcement comes as the president travels the country to campaign for reelection.
From day one of my administration, I promised
to fix broken student loan programs and make
sure higher education is a ticket to the
middle class, not a barrier to opportunity, President Joe Biden, via statement.
I won't back down from using every
tool at my disposal to deliver student debt
relief to more Americans, and build an
economy from the middle out and bottom up, President Joe Biden, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published