Debt delinquencies are creeping up the income ladder in the U.S. with hiring all but frozen in white-collar sectors and the Fed keeping interest rates high. That’s a problem for a growth model increasingly reliant on consumer spending by top earners

Upper-income Americans are increasingly falling behind on credit card and auto loan payments, signaling an underlying vulnerability in the US economy

Millions of recently naturalized citizens are eligible to cast their first presidential ballots this fall. We spoke with some of them — here's what they told us https://t.co/Z9EPRgkaXv

NEW: There was a brief window of opportunity in 2020-22 where more Black Americans were able to buy homes. But that window has closed and it has become significantly harder to buy w/ @Jonnelle https://t.co/KjrRRwNmVi

NEW: After years of mostly steady decline, the Black homeownership rate in the US saw its largest jump on record in the early days of the pandemic. Now, soaring borrowing costs and home prices threaten to erode those gains https://t.co/xknmOGkbqA w/ @JarrellTDillard

Citadel founder Ken Griffin says his new home of Miami could eventually unseat New York’s as the world’s financial center. “Miami, I think, represents the future of America,” he said. https://t.co/2GHHW5pgdF From his interview with @SmithMarkets & @sonalibasak

For the last few months, @ScottJourno and I analyzed the subprime auto finance industry, learning about the financial alchemy of how risky auto loans are turned into rock-solid investments, fueling one of Wall Street’s fine-tuned money-making machines. https://t.co/TVIfUwu9aH

The Goldilocks economy feels just right now. Still, if the story of Goldilocks tells us anything, it’s that the bears eventually arrive. Nice read from @endacurran

"Credit card delinquencies continue to rise from their historical lows seen during the pandemic and have now surpassed pre-pandemic levels,” NY Fed researchers wrote in a blog post.

NOW: The Federal Reserve held interest rates at a 22-year high for a second straight meeting. How will that impact you before the end of the year? @MollySmithNews discusses the Fed's decision with @Jonnelle and @catarinasaraiva. Join the conversation ⬇️

The Fed also upgraded its description of economic growth, now describing it as "strong" instead of "solid" after a string of robust economic reports.

The Federal Reserve held interest rates at a 22-year high for a second straight meeting. How will that impact you before the end of the year? @MollySmithNews discusses the Fed's decision with @Jonnelle and @catarinasaraiva. Set your reminder ⬇️

New language pointed to tighter "financial" conditions, a nod to the recent surge in Treasury yields, which officials say could weigh on growth and inflation.

NEWS: The Federal Reserve held interest rates at a 22-year high for a second straight meeting today as expected. https://t.co/NargCKlbtt via @economics

These climate disasters are speeding up the pace at which people get dislocated. What a quote: “We were thinking gentrification would take 20 years,” said King, who is 64. “Now we're thinking of a five-year gentrification.”

Hurricane Ian destroyed a third of the homes in Fort Myers Beach, Florida. Affluent home builders are sweeping and pushing out longtime residents who can't afford to rebuild: https://t.co/d76floXP1S by @SmithMarkets and @mrgopal

“If you look over the whole year things have been really solid and the question is, how much staying power does this have?” said @Claudia_Sahm https://t.co/3g0Y1bWPRl via @economics

There are plenty of measures to suggest households are under growing financial stress, yet people continue to spend. Are consumers actually doing just fine? We're about to find out:

Sharing this again with a better link:

NEW: The consumer has been surprisingly resilient. But that strength is about to be tested by growing debt payments, rising delinquencies and dwindling cash piles. Whether it lasts is one of the biggest questions Fed officials will debate this week: