Money

Home sales surge to the year’s fastest pace as mortgage rates climb back above 6.5 percent

Against every macro headwind, the housing market staged a small rebellion in May. Sales of previously occupied U.S. homes rose 3.2 percent from April to a seasonally adjusted annual rate of 4.17 million units, the fastest pace since December and a 3.2 percent gain from May

Recalls

Stellantis recalls 1.3 million Jeeps over a fire risk that 72 owners have already experienced

Power steering pump wiring can overheat and start a fire

U.S. retaliates against Iran on CPI eve as Stellantis recall balloons to 1.3 million Jeeps, Social Security insolvency moves up to 2032, and home sales unexpectedly surge

By Perplexity American consumers woke Wednesday to a sharper version of the same five-front squeeze that has defined this spring. Overnight, U.S. Central Command launched retaliatory strikes on Iran after Monday's downing of an Army Apache helicopter near the Strait of Hormuz, sending Brent crude back

Seniors

Social Security, Medicare face earlier depletion dates and growing long‑term shortfalls, trustees warn

The problem has been recognized for decades but leak of leadership delays action

Consumer Protection

California launches affordability task force to target unlawful price hikes and consumer abuses

The team will focus on alleged misconduct by corporations, landlords, scammers, and others contributing to rising prices and financial hardship

Consumer Protection

Consumer watchdog turns on its former master, snarls at 'woke' rules, protections

CFPB’s mission shifts as Trump allies reshape consumer watchdog

Money

Vermont moves to protect survivors from coerced debt

Vermont becomes the ninth state to enact specific protections against coerced debt, a growing form of economic abuse

Consumer Protection

Consumer sentiment at a low ebb; nearly half of Americans say they're worse off financially

The New York Fed’s monthly household survey shows the most pessimism since 2022 — and it lines up with the CPI print due Wednesday

Household, business optimism hits new lows as ceasefire wavers

A fragile 15-hour ceasefire, an Apache helicopter down near Hormuz, the most pessimistic household survey since 2022, small-business optimism erased and Stellantis recalling a million vehicles for a fire risk

Money

DoorDash, Instacart face FTC scrutiny over hidden delivery fees

The move follows a $60 million settlement with Instacart over allegations involving misleading “free delivery” claims and undisclosed fees

Health

Listeria outbreak tied to soft cheese kills one, sickens seven; more products may be affected

The outbreak started on New York's Long Island; pregnant women are at heightened risk

CPI is Wednesday, mortgage rates are stuck above 6.5 percent and the housing market is paying the price

The math is brutal for homebuyers, analysts say