latest news in economy
Higher Income Thresholds Define Updated Federal Tax Brackets for 2027
Washington, Thursday, 5 November 2026.
Driven by a 3.2% inflation adjustment, the IRS raised income thresholds across all tax brackets for 2027, lifting the married standard deduction to an unprecedented $33,200 to curb bracket creep.
Americans Turn to Free Public Libraries as Living Costs Squeeze Household Budgets
Washington, Thursday, 5 November 2026.
With 70% of adults slashing paid subscriptions amid persistent inflation, Americans are replacing retail purchases with free library services, driving up demand for digital media and shared equipment.
Philadelphia Sees Poverty Rate Rise to Highest Among Large US Cities
Philadelphia, Thursday, 5 November 2026.
New Census data shows Philadelphia’s poverty rate increased to 20.4%, marking its first documented rise since 2011 and returning the city to the highest poverty rate among America’s ten largest.
Testing Into Wall Street: How a New Exam Could Unlock Private Markets for Everyday Investors
Washington, Thursday, 5 November 2026.
The SEC’s proposed test bypasses strict wealth thresholds, allowing anyone to qualify for private market investments by paying $100.50 and proving financial competence instead of immense personal wealth.
Tech Stocks Suffer Severe Sell-Off as AI Spending Concerns Mount
New York, Friday, 6 November 2026.
Wall Street faced steep losses Thursday as tech shares tumbled into correction territory, erasing over two trillion dollars in market value amid mounting investor skepticism toward massive artificial intelligence infrastructure investments.