ECONOMY08/16/26

Credit Card Delinquencies Stay Elevated

New data shows credit card delinquencies remain at high levels in 2026.

Photo: Fox Business

DIFFERENT FOCUS

Marketplace emphasized Consumer Financial Stress Worsening; Fox Business emphasized Overall Debt Burden Stabilizing.

LEFT FOCUS

▸Marketplace reported credit card delinquencies hit 13% this year, the highest since the Great Recession's tail end. — Marketplace
▸Marketplace cited post-COVID inflation and job uncertainty as partial causes of rising delinquencies. — Marketplace

RIGHT FOCUS

▸Fox Business reported the NY Fed found overall aggregate delinquency rates actually improved in Q2 2026. — Fox Business
▸Fox Business reported that credit card debt over 30 days delinquent has held relatively steady at about 9% since 2024. — Fox Business
▸Fox Business reported that NY Fed's Joelle Scally said delinquency rates across most products have held steady for two years. — Fox Business

September CPI Hits 3.7%

Inflation rose to 3.7% in September, the last CPI report before midterm elections.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Sunday: September CPI report confirms 3.7% annual inflation rate

Left: Prices hit everyday Americans on essentials.

Right: Rising prices spell trouble for Trump's party.

September consumer prices rose 0.6% monthly and 3.7% annually, the fastest pace in five months.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Thursday: September CPI confirmed at 3.7% annually, up from 3.6% prior

Left: Rising prices squeeze everyday Americans hardest.

Right: Inflation surge spells trouble for Trump, GOP.

Treasury Department fined Bank of America over $1.2 billion for sanctions and anti-money laundering violations

DEVELOPING TIMELINE

First Report Thursday: The US Treasury fined Bank of America $1.2 billion for anti-money laundering and sanctions violations.

Sunday: Treasury fine now cites Chinese money laundering networks

Left: Third-largest Treasury penalty ever imposed.

Right: Tied to Chinese networks and border criminals.

Trump signs executive order waiving Russia sanctions and tariffs mandated by the Graham Act.

Left: Sanctions targeting Russia's Ukraine war dropped early

Right: Graham Act halted in name of national interest