Tag: Economy

Fed Rate Hike: What It Means for You

The Federal Reserve increased its benchmark interest rate from 3.75% to 4.00%, marking the first official hike since summer 2023. This decision aims to combat elevated inflation by slowing consumer and business spending. Borrowers face higher costs on mortgages, car loans, and credit cards, with variable-rate cardholders seeing their APR rise within one to two billing cycles. However, savers benefit as interest rates on savings accounts and certificates of deposit will increase, providing better returns on their cash holdings.

Black Adults Face Worst Economy in Decade

While the White House celebrates record stock market highs, everyday Americans face deteriorating finances and rising job insecurity. Federal Reserve data reveals employment concerns surged 37% in 2024, with Black adults disproportionately impacted by layoffs and bill-paying struggles. Black adults experienced the largest job loss increase between 2024 and 2025, and only 60% report doing okay financially, down five percentage points. Even college-educated Black adults saw their financial comfort decline by seven points, while 77.5% struggle with basic expenses.

Trump on Economic Concerns: “I Don’t Think About”

Americans are currently struggling as gas prices continue climbing across the United States after Iran restricted access to the Strait of Hormuz following joint military strikes launched by the U.S. and Israel earlier this year.

How Egypt Uses Sports to Boost Its Global Image

Through sports diplomacy, Egypt is promoting national pride, attracting tourists, and creating opportunities for economic growth. At the heart of this plan is the global success of its athletes and its ability to host regional sporting events.

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Hip Hop Real Estate Scammer Cesar Pena Guilty

Cesar Humberto Pina, known as "Flipping NJ," has pleaded guilty to wire fraud, conspiracy to commit money laundering, bribery, and Travel Act violations, facing up to 55 years in federal prison when sentenced on March 10, 2027.

Kevin Gates Gives Estranged Wife Over $1 Million

Kevin Gates says he doesn't care that he had to fork over a small fortune to his estranged wife, saying he always gives everything to those he loves. The rapper joined The TMZ Podcast and discussed a judge ordering him to split proceeds from his music catalogue sale with Dreka Gates to the tune of one million dollars. Kevin says a portion is nothing to him because he's used to giving his loved ones the world.

Black American Colonies in Texas After Slavery

After emancipation, formerly enslaved Black Americans built communities of their own, acquired land, raised families and created places where they could live with greater independence from racism. Known as freedom colonies, these historically significant settlements were established during Reconstruction and to escape Jim Crow. Residents created support systems that allowed families to live more independently, establishing churches, schools and homes. Today, descendants are working to preserve these communities by maintaining family land, organizing reunions and passing histories to younger generations, ensuring these important places and stories are not forgotten.

Rick Ross Cleared of Battery Charge, 2 Misdemeanors

Rick Ross caught a major break in his Miami domestic violence case after prosecutors dropped the felony battery charge against him due to insufficient evidence. According to court documents, prosecutors filed two misdemeanor charges instead: one for battery and another for battery/domestic violence. Ross had previously pleaded not guilty to felony battery by strangulation and misdemeanor battery charges stemming from an incident where an ex-girlfriend alleged he slapped, struck, and choked her.

Trump-Backed African Blogger Samuel Faces Deportation

Popular conservative blogger Samuel Sey, who ran the blog @slowtowrite and spent years defending aggressive immigration enforcement, was taken into custody in Ohio and booked into Butler County jail under a "Hold for ICE" warrant, facing potential deportation to Ghana.