The Daily Money: Debt ceiling, tighter lending, inflation jitters

Debt ceiling impasse, signs loans are getting very hard to get, and inflation data due Wednesday spark market jitters.

Read in browser Read in browser The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW Tue May 9 2023 Medora Lee |  Money and Personal Finance reporter Good morning, and happy Tuesday! It's Medora, again, in Chicago where our Blackhawks team beat the odds and won the NHL's draft lottery , which means a chance to choose hockey phenom Connor Bedard No. 1 overall at the event June 28 in Nashville! Chicagoans take any good sports news whenever we can get it. There usually isn't much of it! Speaking of not having much good news, investors are jittery today ahead of inflation data on Wednesday, debt ceiling talks and a Federal Reserve report on Monday showing banks have tightened the screws on lending. Banks have raised the bar on lending for every category of borrower, which means unless you've got impeccable credit history, you're going to have a harder time accessing money. Economists expect this to squeeze consumers and businesses and put a hard brake on the economy and lead to joblessness. Drug maker Novavax and professional app LinkedIn announced layoffs on Tuesday. Stay tuned... 📰 More stories you shouldn't miss 📰 Give that woman some R-E-S-P-E-C-T: Aretha Franklin's childhood home in Detroit selling for roughly $380,000 Detoxifying quitting: How do I resign from a toxic job situation without burning bridges? Ask HR The new talk you must have: Got senior care? As elderly start to outnumber young, a talk about long-term health care is vital The best price: Dunkin's new perk: Free cup of coffee every Monday in May 🍔 Today's Menu 🍔  Tracking down trace minerals for health: What are trace minerals? And how to get them. About The Daily Money Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. Where did home prices go up in the first quarter of the year? See list Among the major U.S. regions, the South saw the largest share of single-family existing-home sales (46%) in the first quarter. READ MORE Advertisement Banks have tightened lending criteria after Silicon Valley Bank crisis Banks have made it tougher for consumers and businesses to get loans after SVB crisis, according to Fed's Senior Loan Officer Opinion Survey. READ MORE GM hires former Apple exec to run software unit As GM looks more toward becoming a software company that makes cars, it has created a new position for an experienced tech expert from Apple. READ MORE Key to aging gracefully: a long-term care plan. Here's how to start. Families who avoid talking about the cost of long-term care are running the risk of financial distress. Here's how to prevent that. READ MORE How to gracefully leave a toxic job situation without burning bridges People managers set the tone for the work environment, and being harsh, overbearing, and punitive can quickly create a toxic workplace. READ MORE How will the Fed's rate hikes hit student loans? College debt is growing more costly in 2023 — and payments on federal student loans that had been on pause during the pandemic will likely resume. READ MORE Burger King debuts red whopper ahead of new Spider-Man film Burger King is debuting a red whopper ahead of the June 2 premiere of 'Spider-Man: Across the Spider-Verse.' READ MORE Aretha Franklin's childhood home selling for roughly $380,000 Aretha Franklin's 6,000-square-foot childhood home in Detroit's La Salle Gardens neighborhood is for sale. The home is listed at $379,900. READ MORE Ben Cohen starts cannabis nonprofit Ben & Jerry's co-founder Ben Cohen has a new nonprofit, "Ben's Best Blnz," aimed at reducing disparities in the cannabis industry and related arrests. READ MORE Carl's Jr., Hardee's to roll out AI drive-thru ordering CKE Restaurants Holdings said its partnering with AI companies to automate voice ordering at participating drive-thru locations. across the country. READ MORE Advertisement Sign up for the news you want Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. SEE ALL NEWSLETTERS ➔ SEE ALL NEWSLETTERS ➔ Newsletters   |    eNewspaper   |   Crosswords Follow Us Problem viewing email? View in browser Unsubscribe  •   Manage Newsletters  •  Terms of Service  •   Privacy Policy/Your California Privacy Rights  •  Privacy Notice  •   Do Not Sell My Info/Cookie Policy  •  Feedback