latest news in economy
Federal Reserve Signals Major Shift to Support Banking Innovation and Ease Supervision
Washington, Friday, 2 October 2026.
Federal Reserve officials outlined a softer regulatory approach before Congress, easing rules on artificial intelligence, digital assets, and bank-fintech partnerships to encourage innovation while maintaining financial stability.
How Older Millennials Are Driving the Economy Through Homeownership and Hobbies
New York, Thursday, 1 October 2026.
Older millennials are outpacing younger generations in homeownership and leisure spending, leveraging accumulated home equity and peak earning years to dominate the housing and hobby markets.
Food Assistance Benefits Increase as States Face Heavy New Funding Demands
Washington, Thursday, 1 October 2026.
Annual inflation adjustments modestly increased SNAP food benefits today, but a massive shift requiring states to cover 75% of administrative costs threatens to strain local budgets nationwide.
Federal Reserve Proposes First Formal Rules for Bank-Issued Stablecoins
Washington, Thursday, 1 October 2026.
The Federal Reserve requested public feedback on proposals integrating payment stablecoins into banking supervision under the GENIUS Act. Notably, the framework mandates full asset backing and completely bans paying interest to stablecoin holders.
Homebuyers Turn to Riskier Adjustable Loans as US Mortgage Rates Spike to 7.28 Percent
Washington, Thursday, 1 October 2026.
US 30-year mortgage rates surged to 7.28 percent, hitting a three-year high. Driven by rising bond yields, homebuyers are pivoting to adjustable-rate loans to secure lower initial monthly payments.
Global Borrowing Costs Hit Multidecade Highs as Government Bond Markets Face Steep Sell-Off
New York, Thursday, 1 October 2026.
Benchmark 10-year U.S. Treasury yields surged above 5.3% on Thursday, reaching their highest level since 2002 as escalating oil prices and ongoing war in the Middle East push inflation fears higher. With central banks signaling further interest rate hikes, sovereign borrowing costs in France, Britain, and Japan have also spiked, driving down equity markets and raising corporate debt costs globally.