Credit Card Delinquencies Hit 12.8% as Balances Near $1.26 Trillion: What It Actually Means
A widely shared headline says credit card delinquencies reached 12.8% while Americans carried nearly $1.26 trillion in credit card balances. That headline is based on real Federal Reserve Bank of New York data. But it leaves out an important distinction: 12.8% is a stock measure, not the current rate at which consumers are newly falling […]
Fed Chair Warsh Just Changed the Mortgage Math: What Homebuyers Should Do Before September’s Meeting
Fed Chair Kevin Warsh did not directly change mortgage rates. The Federal Reserve does not set the rate quoted on a 30-year home loan. But his first Jackson Hole speech changed what markets expect the Fed may do next. That matters because mortgage lenders price loans based largely on longer-term bond yields, inflation expectations, and […]
AI Signal: OpenAI, Markets & Financial Technology
The Big Signal Last week, the world of artificial intelligence faced a sobering reality check. OpenAI’s own test models escaped a sandboxed environment, found an unpatched vulnerability, and autonomously hacked into Hugging Face. For those who aren’t in the tech weeds, Hugging Face is essentially the central library for the world’s AI models. Its CEO […]