Economy

16 May 2022, 23:20

I took out $20,000 in student loans and now owe $50,000. I don't mind paying back, but the system is broken.

"We do everything society tells us," nonprofit head Kristin McGuire said. "But we enter the workforce, hit a glass ceiling, and are burdened by debt."

16 May 2022, 22:40

Some Millennials and Gen Z have hit an 'apocalyptic' phase in which they don't see the point in saving for the future

Some younger workers aren't betting on the future. Instead, they're spending on right now.

16 May 2022, 22:26

PwC Chair says the 'war for talent' could last another decade. Why he's never seen a more challenging time for CEOs.

PwC Chair Tim Ryan expects corporate M&A will stay strong, 2022 earnings will be solid, and that a war for talent could last another decade.

16 May 2022, 21:11

The White House fires back at Jeff Bezos, saying it 'doesn't require a huge leap' to understand why he opposed an economic agenda that taxes the superrich

Bezos lambasted the White House for pushing a plan he said would worsen inflation. He added that Manchin "saved them from themselves."

16 May 2022, 20:40

Donald Trump Jr. says Biden's student-loan forgiveness plans will force workers who didn't go 'to college to get drunk for four years' to pay for 'worthless gender study degrees'

Biden wants to "bail out a bunch of upper-middle-class kids" by canceling student debt, Donald Trump Jr. told The Washington Post.

15 May 2022, 18:24

The 'Great Resignation' may be here to stay

In Insider Weekly: The Great Resignation could last forever, employees describe Thomas Kurian's leadership, and advice for YC applicants.

15 May 2022, 18:24

The next recession will be mini compared to the last 2 — and feel completely different

"The type of recession we're looking at is not like a serious, massive downturn in consumer spending across the board," one economist told Insider.

15 May 2022, 16:44

The year workers said 'no'

In the thick of the pandemic, workers were left to fend for themselves. Now they've learned how to demand more from their employers.

14 May 2022, 18:44

The rich are getting poorer

The rich are still very rich. But a Bloomberg report finds that they've lost about $1 trillion this year already.

14 May 2022, 18:21

3 policies in Biden's 2023 budget proposal that will restrict corporate power and benefit workers

The Roosevelt Institute's Nick Lusiani says restrictions on stock buybacks and tax increases on the .01% will aid economic growth from the middle out.

14 May 2022, 18:20

Meet the 'last-resort' mortgage lenders rising from the ashes of the financial crisis to help underqualified borrowers buy a home

"There are more self-employed business owners since the onset of the pandemic, and their needs are not easily met by traditional loans," an exec said.

14 May 2022, 03:14

3 Democratic senators reportedly want Biden to hold off on student-debt cancellation so they can push him to go big

Elizabeth Warren, Raphael Warnock, and Chuck Schumer want to persuade Biden to go as far as possible with student-loan forgiveness, per Politico.

13 May 2022, 23:20

Congress is investigating the baby formula shortage and demanding answers from the 4 companies who control almost 90% of the market

Reps. Carolyn Maloney and Raja Krishnamoorthi said the shortages pose "a threat to the health and economic security of infants and families."

13 May 2022, 22:46

Americans haven't hated the economy this much since the sloth-like recovery from the Great Recession

The jobs recovery is nearly finished, spending is at record highs, and wages are booming. But inflation has Americans feeling positively bleak.

13 May 2022, 22:19

A bill that would set gas price limits and prevent 'exploitative' cost hikes is headed for a House vote

The legislation would enable President Joe Biden to make it illegal to increase gas and home energy prices amid surging costs.

13 May 2022, 21:25

'Chronically struggling' student-loan borrowers need more than a payment pause that postpones 'a day of reckoning,' a Philly Fed survey says

The Philadelphia Fed found that pausing student-loan payments isn't much help to struggling borrowers.

13 May 2022, 21:09

Jeff Bezos and Alexis Ohanian, are pouring $35 million into NYC's childcare crisis

As the whole country suffers from a lack of affordable childcare, the state of New York has pledged $7 billion toward fixing the problem.

13 May 2022, 03:26

Biden is taking steps to address the worsening baby formula shortage — but it could be months before shelves are fully restocked

The White House is working with retailers and manufacturers to boost baby formula supply as shortages continue to get worse.

13 May 2022, 02:46

Americans are traveling like it's 2019 — as airline tickets get more and more expensive

Airline fares soared 18.6% in April alone, marking the largest one-month jump since at least 1963 and counting for a quarter of the month's inflation.

13 May 2022, 01:39

The largest labor federation in the country calls on Biden to cancel student debt: 'We cannot ask working people to make further sacrifices'

"Now is the time to cancel, not collect, student debt," AFL-CIO's president Liz Shuler said. She's the latest advocate pushing for loan forgiveness.

13 May 2022, 00:25

Lindsey Graham says most Democrats would 'jump out the window' if they had to vote on Medicare for All

Graham urged Sanders to hold a vote on his signature policy idea, betting Democrats would splinter on single-payer healthcare.

12 May 2022, 22:40

It's finally a better time to buy a used car

Used car and truck prices have fallen for the last three months, ending a streak of historic price hikes and offering buyers the first sign of relief.