Author: Press Room

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After having collectively saved trillions during the COVID-19 pandemic, Americans are seeing inflation and other factors eating into their savings.  Americans had already spent about 35% of pandemic-era savings as of mid-January, according to an estimate by Goldman Sachs. By the end of 2023, they would have depleted about 65% of those extra savings, Goldman Sachs forecasted. Americans put away an estimated $2.3 trillion to savings since the onset of the COVID-19 pandemic, according to research by Oxford Economics. For many Americans, those extra funds came from a combination of stimulus checks, unemployment benefits and reduced spending due to nationwide lockdown…

The banking crisis has increased the threat of a U.S. recession this year, according to JPMorgan Chase CEO Jamie Dimon. That’s because the turmoil that has engulfed the financial system following the stunning collapse of Silicon Valley Bank (SVB) and Signature Bank in March has raised the prospect of drastically more restrictive lending standards in coming months.”We are seeing people reduce lending a little bit, cut back a little bit and pull back a little bit,” Dimon said during an interview with CNN. Although stress within the sector will not necessarily force a recession, he said “it is recessionary.” Dimon’s…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Debt consolidation could be a good option if you have unmanageable debt and high interest rates — or just want to optimize your debt repayment. Though applying for a new loan or line of credit may seem counterintuitive, it could help you handle your outstanding balances.Through a debt consolidation loan, home…

A majority of Americans said that inflation and rising costs has impacted their healthcare purchasing decisions or their ability to pay medical bills, according to a recent AccessOne survey. In January, the consumer price index, a measure of inflation, showed that overall prices grew by 6.4% from the previous year while prices for medical care services increased by 3%. This rise in healthcare costs and other areas of spending is why 71% of respondents said they are struggling with healthcare bills or delaying medical decisions. Overall, 43% of Americans said they couldn’t comfortably cover medical costs exceeding $249, while 54% would delay payment…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Defaulting on your student loans can be a scary prospect, as it carries some significant consequences and can damage your credit for years. However, it may be possible to rehabilitate your student loan debt. If you have federal loans, your loan servicer might agree to reduce your monthly payments. In exchange,…

Tesla cut prices in the United States between 2% and nearly 6%, its website showed on Thursday, as the company extends a discount drive on its electric vehicles that analysts caution could hurt profitability.The fifth such cut in Tesla’s largest market since the start of the year comes as the United States prepares to adopt tougher standards this month that are expected to limit EV tax credits.Tesla cut prices on both versions of its Model 3 sedan by $1,000 and on its Model Y crossover by $2,000, the website showed. It also cut prices on both versions of its more…

Since Tim Cook became CEO of Apple, he’s worked to cement his own legacy — but he still admires his predecessor Steve Jobs’ leadership style.”I knew I couldn’t be Steve [when I became CEO],” Cook, 62, told GQ on Monday. “I don’t think anybody could be Steve. I think he was a once-in-a-hundred-years kind of individual, an original by any stretch of the imagination. And so what I had to do was to be the best version of myself.”But that doesn’t mean Cook couldn’t take a leadership trick or two from Jobs’ book. In particular, Cook said he admired how…

India’s government is planning to create a state fact-checking unit with the power to order social media platforms to take down content about its activities that it deems “fake or misleading.” In an amendment to rules covering digital and social media published Thursday, the Ministry of Electronics and Information Technology said that the fact-checking would apply to information about “any business of the central government” on social media platforms. The Editors Guild of India, a nonprofit organization representing more than 200 journalists, said in a statement on Friday that it was “deeply disturbed” by the new rules, saying they had…

Popular layer-1 blockchain Solana has unveiled a new solution that will dramatically decrease the cost of storing data on-chain.In a Thursday blog post, Solana Foundation tech lead Jon Wong said the “state compression” technology would bring down the cost of minting 1 million non-fungible tokens (NFTs) on the network to around 4 SOL, or $110. In comparison, it currently costs roughly 1,200 SOL (more than $24,000) to store 1 million NFTs on the Solana blockchain. “After numerous phases of development, adoption, and rollout, compressed NFTs are live on Solana’s mainnet-beta and powering the next wave of novel on-chain product experiences,” Wong said.He called…