The much anticipated inflation figures and requisite prognostication about the Fed’s next moves were the big news of the week, followed by Consumer Credit Card topping $1 Trillion. More on those, and interesting articles on the workplace await you in this week’s list.

Economics

• The Consumer Price Index for July was released today and shows continued cooling in inflation. The year-over-year bump is due to the based effect, as last year’s number was negative. (CNN)
• PPI came in a bit higher than expected for July. Analysts will be trying to explain it all day. (CNN)
• So what is next for interest rates? Jeanna Smialek talks to New York Fed President John Williams. (NYT)

Investing

• Moody’s lowered the credit rating of several small and mid-sized banks this week, and put six bigger ones on notice for potential downgrades. (Reuters)

Managing Credit

• US Consumer Credit card debt and other revolving credit surpassed $1 Trillion last month for the first time. However analysts aren’t terribly concerned about the figure because, as a percent of GDP, the figure is well below the peak which occurred in 2010, and credit card debt as a percent of deposits is at a twenty-year low. (Axios)
• For a detailed breakdown and analysis consumer credit data referenced above, check out the NY Fed Liberty Street article.
• And Ben Carlson, from A Wealth of Common Sense, but the credit card data in historical context (and gives a history of credit cards too.)

The Workplace

• Even a company like Zoom is calling workers back to the office. Quartz takes a look at post-pandemic work realities for the tech world.
• UPS reached a tentative 5-year deal with the Teamsters including improved working conditions and pay increases. Now everyone wants to be a UPS driver (earning $170k!). (CNBC)
• Unemployment claims crept up this week but nothing alarming. (AP)
• With strikes continuing in the entertainment industry and others, it is interesting to know that two states allow striking workers to collect unemployment. Care to guess which ones? (CNBC)
• Amazon has been tracking employees’ return to office, and no one is pleased. (Business Insider-subscription may be required)

Paying for College

• College costs are going us. US News breaks down the sources of the increased costs. Rising tuition is not covering all of the costs.

Education

• Schools are seeing persistent chronic absences post-pandemic. (AP News)

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.

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