Wednesday, November 1, 2023

The Daily Money: It's the economy, stupid

The economy is the No. 1 concern for voters in the 2024 presidential election. Credit card rates hit 33%. Say what?

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Wed Nov 1 2023

 

It's the economy, stupid.

The economy is the No. 1 concern for voters in the 2024 presidential election.

When asked which party front-runner they trusted more to handle the economy, 41% of those surveyed favored President Joe Biden, while 52% said they would bank on former President Donald Trump, according to a USA TODAY/Suffolk University Poll in October

Almost 50% of those surveyed said they believe the U.S. economy is in either a recession or depression. 

"I don't know how other people afford their lives," Maria Suarez, 26, a hospitality manager in Philadelphia, told USA TODAY. "I'm barely getting by."

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The front-runners in the presidential race, Donald Trump and Joe Biden

Brendan Smialowski/AFP via Getty

Credit card rates hit 33%. Can they even do that?

Some store credit cards now charge more than 33% interest, after blowing past a symbolic 30% threshold that retailers and banks dared not cross.

Can they even do that? The short answer: yes.

πŸ“° More stories you shouldn't miss πŸ“°

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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.

Oysters ready to cook during the Anderson Oyster Roast and Low Country Boil at the Anderson Civic Center in Anderson, S.C. Saturday, October 21, 2023. Money raised at the 19th annual event help the group deliver meals to senior and disabled neighbors in Anderson County.

Future Seafoods, Inc. initiated a voluntary recall of all oysters harvested on Oct. 10 and distributed to customers between that date and Oct. 16.

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Samuel Adams Utopias has earned its reputation as one of the world's strongest and sought-after beers. Released every two years, the 28 percent ABV can be found at select specialty beer and liquor stores starting October 30 (suggested retail price of $240 per 24.5-ounce bottle) – but not in every state. It's so strong it's prohibited in 15 states.
 

Samuel Adams Utopias, beer banned in 15 states, returns this year

Every two years, Boston Beer Company brings out its extreme Utopias beer. Priced at $240 per 24.5-ounce bottle, it's for savoring, not quaffing.

Georgia Tech student Michael Oh-Yang, center, greets company representatives at a job fair on March 29, 2023, in Atlanta.
 

Job openings by state: Who is struggling to hire employees the most

With a job opening rate of 10.6% last month, one western state is struggling more than any other when it comes to hiring

Mary Leary of Wilmington
 

Two Massachusetts lottery winners claim $1M prize

A man who won the Powerball second prize and a woman who won the second prize in a scratch off claim their $1 million from Massachusetts Lottery.

Senior citizens walking together
 

Biden plans to fight junk fees in retirement advice. Here's how.

President Joe Biden wants to protect Americans' retirement savings with a new fiduciary rule that would eliminate "junk fees" in retirement advice.

LAS VEGAS, NEVADA - JUNE 29: TikTok food reviewer Keith Lee is interviewed after attending a game between the New York Liberty and the Las Vegas Aces at Michelob ULTRA Arena on June 29, 2023 in Las Vegas, Nevada. The Aces defeated the Liberty 98-81. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ethan Miller/Getty   Images)
 

Why people nationwide are responding to this TikToker's Atlanta restaurant reviews

Keith Lee, a TikTok food critic, wasn't pleased with the Atlanta restaurants customer service, and his experience has found a nationwide audience.

Salem, Massachusetts, is home to the first National Historic Site in the country.
 

Massachusetts ranks top state to live in, per WalletHub. See where your state ranks.

Massachusetts topped the best states to live in 2023, with a score of 61 out of 100 in WalletHug's report. See where the rest of the US ranked.

DiGiorno's Thanksgiving Pizza is available this November while supplies last.
 

Thanksgiving pizza? Turkey, gravy, green beans come on this new frozen pie

DiGiorno announced Tuesday it is releasing a Thanksgiving-themed pizza loaded with traditional side dishes, available now for a limited time.

The Nike Swoosh 1 is a shoe designed to help young children as they learn how to walk.
 

Nike releases shoe to help toddlers learn how to walk

The Nike Swoosh 1 can bend in all directions to help new walkers, has a wide toe box and a grippy outsole.

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