A new Harvard housing report reveals that household formation has fallen to Great Recession levels, as student debt, a weak job market, and consumer pessimism keep millions of Americans from moving out on their own. Plus: U.S. and Iran sign a remote deal, the Knicks celebrate their title, and a judge wants Trump’s name off the Kennedy Center.
With nearly three in four Americans rating the economy as poor, according to a new CNN poll, the Memorial Day holiday arrives under the weight of record-low consumer sentiment and sharp increases in the price of gas, ground beef, and other staples.
The Federal Reserve held rates steady and raised its year-end dot plot projection, reversing expectations for further cuts in 2025. Retail stocks, already fragile, took a hit as pressure mounts on consumer spending, debt refinancing, and housing-linked demand.
Despite a surprising uptick in mall foot traffic, JCPenney continues to shrink its footprint. At least six stores have closed in 2026, while a planned sale of 119 properties fell through when the buyer failed to close on time, raising questions about the chain's long-term turnaround.
A new survey from the Allianz Center for the Future of Retirement reveals that 34% of U.S. investors pull money out of the market during major downturns, sacrificing an average of 27% in potential returns. The findings highlight a costly behavioral gap amplified by economic anxiety and generational differences.
"I'm seeing these things everywhere at the moment."
President Trump’s annual financial disclosure topped 900 pages and revealed over $1 billion in crypto-related income. When asked, he dismissed it as a rising market. But a closer look at the numbers — and the broader economy — raises questions about how that wealth was really generated.
