Jonnelle Marte

Reporting on the Federal Reserve and the economy for @business. Grad of @Bagehots & @Columbia_biz Views are my own. [email protected]

[Matthew B @boes_]

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 https://t.co/0BKLMfHILj

[Bloomberg @business]

Upper-income Americans are increasingly falling behind on credit card and auto loan payments, signaling an underlying vulnerability in the US economy https://t.co/0UugNu4aWl

[Bloomberg @business]

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

[Jonnelle Marte @Jonnelle]

@bencasselman Somebody had to do it! 😝 They are looking out for weakness in the labor market but with the data being so confusing that can be tricky

[Jarrell Dillard @JarrellTDillard]

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

[Jonnelle Marte @Jonnelle]

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

[Jonnelle Marte @Jonnelle]

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

[Paige Smith @PaigeSmithNews]

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

[Jonnelle Marte @Jonnelle]

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 https://t.co/JQxrTuV1io

[Jonnelle Marte @Jonnelle]

"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.

[Bloomberg Economics @economics]

US households tapped their credit cards more in the third quarter, when strong spending helped to power blockbuster economic growth. But Millennials and people with student debt and auto loans are falling further behind on payments https://t.co/N0yg43Z8Zw

[Bloomberg Markets @markets]

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 ⬇️ https://t.co/cP1uMSIK0K

[Jonnelle Marte @Jonnelle]

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

[Jonnelle Marte @Jonnelle]

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

[Jonnelle Marte @Jonnelle]

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.

[Bloomberg @business]

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 ⬇️ https://t.co/hgbrP3kldX

[Jonnelle Marte @Jonnelle]

@GenePark Praying for you to kick this thing again. 🙏🏽🤍

[Jonnelle Marte @Jonnelle]

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.”

[Jonnelle Marte @Jonnelle]

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

[Jonnelle Marte @Jonnelle]

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

[Claudia Sahm @Claudia_Sahm]

“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

[Jonnelle Marte @Jonnelle]

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: https://t.co/JFAzvJqx63