Consumer Confidence Improves as Americans Grow More Optimistic About Future
The group's Consumer Confidence Index rose to 97.2 from a revised 95.2 in June, reversing last month's slide as optimism about future economic conditions improved markedly. The gain was driven by improved expectations for future business conditions, incomes, and job prospects, though views on current conditions slipped slightly.
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The Hill
10 minutes ago
- The Hill
South Carolina Republican: High prices are ‘for the good of the country'
Rep. Ralph Norman (R-S.C.) acknowledged that the public is seeing higher prices as a result of tariffs imposed by President Trump, but argued the trade overhaul is 'for the good of the country.' 'I think a lot of people are seeing higher prices. Our family's in the construction business, and we get a lot of our timber from Canada and other countries. Yes, it's higher. Steel prices are up, but it's for the good of the country,' Norman said Saturday on Fox News when asked to explain the network's July poll showing that 55 percent of Americans disapproved of the president's handling of the economy. Norman, who is running to become South Carolina's next governor, told host Jon Scott that 'Should we expect high prices for a short time? Yes.' 'But overall, we couldn't keep going the way we were going. The cancer in this country was letting other countries rule the day and tax our products,' the South Carolina Republican said. 'And why should we run a deficit every month? And that's why this President is doing such a good job.' Trump's latest round of 'reciprocal' tariffs took effect on Thursday, impacting dozens of countries as the president realigns trade relations worldwide. Nearly all imports will face a 10 percent tariff. Some countries, such as Syria, face a 41 percent tariff, while others like South Korea and Japan are staring down a 15 percent import tax. 'And you can't go on… you know, poll numbers vary. They come up, they go down, but the bottom line is, he's doing the right thing, and it could come at a better time, and if things will get better here,' Norman said.
Yahoo
2 hours ago
- Yahoo
Report of Trump's $500 billion Fannie, Freddie decision turns heads on Wall Street
Report of Trump's $500 billion Fannie, Freddie decision turns heads on Wall Street originally appeared on TheStreet. After months of murmurs, the Trump administration is reportedly prepping to take mortgage giants Fannie Mae () and Freddie Mac () public, per the Wall Street Journal. The report adds that officials believe the offering could raise $30 billion in such a debut, valuing the two at "roughly $500 billion." The two firms are operated by the federal government, which receives its profits and manages its day-to-day business through a conservatorship. The two firms were taken into government control after they faced significant losses on mortgage securities during the Great Financial Crisis in 2008. In particular, the firms were heavily exposed to subprime mortgages. The government's takeover of the firms at the time helped stabilize the market. However, after 17 years under government management, officials in the White House believe that the firms have replenished their reserves and should be privatized. One big incentive to doing so? A multi-billion dollar windfall for the federal IPO Freddie and Fannie? An IPO of the two firms might read as perplexing for the unacquainted, seeing as though the two firms have traded on the OTC markets for nearly two decades despite being government-supported enterprises (GSEs). However, while the firms are run by the government, it is not a majority owner (at least, not directly.) Instead, as part of the 2008 agreement, the U.S. government received warrants which entitled it to acquire the vast majority of the two businesses. Aside from that, the companies maintain their current private ownership. Among their largest shareholders is Pershing Square's Bill Ackman, a vocal proponent of their privatization. Ackman, who has owned a sizable stake in the two for over a decade, has been banking on their privatization. In January, Ackman claimed that ending that conservatorship could boost the two stocks and help the government realize billions in profits from an IPO. Since the start of the year, when Ackman began boosting his investment case, Fannie and Freddie are up 183% and 132%, respectively. What Happens After Privatization? The GSEs currently serve a public mission: expanding housing access and increasing mortgage market stability. They do this by effectively guaranteeing the mortgages and lowering the risk of borrowing. However, analysts warn that if Fannie and Freddie were privatized, doing away with this guarantee and public mission could affect housing access and affordability. Fair housing advocates say that those impacts would be most dramatic for lower income Americans and minorities. However, privatization of the two firms would almost certainly lead to higher rates, as the firms focus on shareholder value. This story is part of Stock Market Today for Aug. 8, 2025. You can read all of the day's market coverage as it happens here. Report of Trump's $500 billion Fannie, Freddie decision turns heads on Wall Street first appeared on TheStreet on Aug 8, 2025 This story was originally reported by TheStreet on Aug 8, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
Nearly half of Gen Z would pick money over love, new survey finds
Leave the fiancé, take the 401k. A stunning 46% of Gen Zers would pick long-term financial stability over romance, and close to 1 in 3 said they'd even take a former partner back if that ex got rich, according to a new dating survey by matchmaking service Tawkify. 'Money equals safety, security and freedom,' Brie Temple, Tawkify's CCO and chief matchmaker, told The Post. 'Taking an ex back because they got rich isn't just about the bank account. It's about what that wealth symbolizes: security, ambition and maybe a sense that they've 'leveled up' since the breakup.' The June 2025 survey asked 1,000 Americans about how money shapes dating today. Gen Xers were the most financially cautious, with 52% saying they'd choose money over love — but Gen Z wasn't far behind. They've got a number in mind, too: 1 in 10 Gen Z women say their ideal match should be making $200,000 or more, and most won't settle for anything under $80,000. By contrast, Millennials were the most love-struck: 59% said they'd rather have a 'broke and magical' relationship than one with financial security. And across the larger population, about 63% of Americans said they'd marry for love, even if it meant a lifetime of financial struggle. Still, for many daters, love has a limit — and a minimum salary. Nearly half of Gen Z, 46%, said they wouldn't date someone who's unemployed, even if they were attracted to them, a factor that beat out political differences as a dealbreaker. Today's singles of all ages care about more than just income, they're sizing up spending habits, savings goals and long-term financial compatibility, Temple told The Post. 'We're asking more about how people handle money, what kind of lifestyle they want and how they see their future,' she said. 'Even if two people really get along, different views on finances can cause problems later.' Nearly 70% of respondents across all generations said they've stayed in relationships longer than they should have because of shared finances, with a quarter noting the relationship was long-term. Gen Z's mindset is shaped by years of economic instability, including the aftermath of the 2008 recession, ballooning student debt and pandemic-era job losses, said Marisa Cohen, a Long Island-based marriage and family therapist. 'The pressure to focus on finances likely feels so urgent because of the economic uncertainty Gen Z has dealt with through most of their lives,' she told The Post. 'Being tied to a relationship in which there is financial insecurity or uncertainty may compete with their own personal goals and pursuits.' And money talk now happens earlier and can make or break a connection, said Damona Hoffman, a certified dating coach and author of 'F the Fairy Tale: Rewrite the Dating Myths and Live Your Own Love Story.' 'Daters are terrified of partnering with someone who has bad credit or unmanaged debt,' she said. 'You could have a fancy car, a nice apartment and put your dates on credit cards but be sitting on mounds of high-interest loans.' Still, Gen Z hasn't totally ruled out romance. A slim majority, 54%, said they'd still choose a 'broke and magical' relationship over one that's rich and lifeless. 'Gen Z is dating with their eyes wide open,' Temple said. 'They still want love but only when it fits into a life that feels secure, balanced and true to who they are.'
