American consumers appear to be engaging in some binge borrowing. The Federal Reserve reports that consumer borrowing increased at an annual rate of 7.4% in November. That’s much higher than the 1% increase reported in October. The segment of borrowing that includes debt from credit cards skyrocketed... more
The subprime mortgage mess is taking its toll on the nation’s investors. Financial experts say that fixed income investors have seen their share of losses this year because of the precipitous decline in the subprime mortgage market. At the same time, defaults on car loans appear to be rising,... more
The Federal Reserve Board has once again tried to ignite a sputtering economy by cutting interest rates. The Fed has decreased the federal funds rate, the rate that banks charge each other for overnight loans. The rate cut marks the third one for the Fed this year. It follows a nationwide housing crisis—the... more
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