Americans are behind on car payments at a record level

Americans are missing their car payments at the highest rate in decades, according to Fitch Ratings data. Why it matters: Car costs, including loans and insurance, have soared in an economy where consumers are showing mounting signs of stress. By the numbers: 6.6% of...

Chaotic Market Burns Array of Hedge Fund Strategies in February

Millennium Management, Citadel and other top hedge funds posted lackluster returns in February, as market gyrations reversed momentum on key trades and clobbered popular stocks. Multistrategy firms with an equity market-neutral bias took some of the biggest hits....

Bessent Highlights Trump’s Fed Silence, Rejects Inflation Worry

Treasury Secretary Scott Bessent rejected the idea that President Donald Trump’s tariff hikes will ignite a new wave of inflation, and suggested that the Federal Reserve ought to view them as having a one-time impact. “I’ve agreed not to talk about prospective Fed...