US Consumer Confidence Hits 16-Month Low

Business owners aren't the only ones unsure about the future of the economy. The Conference Board's U.S. consumer confidence index fell to its lowest level in 16 months, dropping to 98.7, the Associated Press reported. And the expectations index, based on a six-month outlook for income, business and labor market conditions dropped to 66.4—its lowes...
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Listen to the Latest Extra Credit Episode!

 Listen up! ? This week's episode of NACM's Extra Credit #podcast is up ... and this is one you don't want to miss!Check it out here: Episode #13: The Roots of Supply Chain Disruptions Run Deep (buzzsprout.com)Have you thought of ALL the ways supply chain disruptions impact credit? Hear what challenges supply snags have created for two cr...
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Is a Gas Tax Holiday in the Cards? And Would it Actually Help?

President Joe Biden called on congress today to suspend the federal tax of 18 cents per gallon of gas and 24 cents per gallon of diesel until the end of September in attempts to ease price pressures at the pump. Biden also called on states to suspend their own gas taxes, as the cost for a gallon of gas sits at an average of $5 nationwide, according...
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Recession Fears Grow Rapidly After Fed Rate Hike

Talks of a recession have been swirling for months as the Federal Reserve continues to battle stubborn inflation. Economists started off somewhat conservative with their predictions of if and when the economy could slip into a crisis. But those same experts have rapidly increased their recession forecasts in recent days."Our worst fears around the ...
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The Latest Episode of Extra Credit Is Here!

Good morning credit professionals! ? Get your Friday started by listening to the latest episode of our Extra Credit #podcast (And make sure you subscribe on Spotify or Amazon Music so you never miss a notification ?)https://www.buzzsprout.com/1927071/10805708Did you know ... 44% of credit professionals still work remotely either part or full t...
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Federal Reserve Hikes Interest Rates Again … This Time by 0.75%

The Federal Reserve raised interest rates by 75 basis points today, the biggest rate hike since 1994. The Fed also hinted to more rate hikes in the future as it intensifies the fight against rising prices.This is the third time the central bank has raised interest rates this year, and experts have mixed feelings. Some are worried the aggressive app...
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Oil Prices Likely to get Worse Before they get Better

The cost of diesel reached a new record this week of $5.72 a gallon, according to the U.S. Energy Information Administration. Rising oil and fuel costs are adding pressure to the prices of other goods. "Big parts of the economy run on diesel, from agriculture to manufacturing, and thus the surge in diesel prices is driving up prices broadly," Mark ...
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Special Episode of Extra Credit Podcast

? This week we have a special episode of our Extra Credit #podcast … we take you to Louisville, KY where nearly 1000 business-to-business professionals and vendors gathered for NACM's 126th Annual Credit Congress earlier this week.Copy and paste the link to listen:  https://www.buzzsprout.com/1927071/10766497
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ICYMI: Latest Episode of Extra Credit

Greetings from Louisville, KY! Reminder: don't forget to check out episode 10 of NACM's Extra Credit podcast if you have not already: https://www.buzzsprout.com/1927071/10727334... and make sure to keep an eye out for this Friday's episode to hear special coverage from Credit Congress! ?
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Shanghai Slowly Lifts COVID Lockdown

After more than two months of COVID-related lockdowns, Shanghai started lifting restrictions today. However, it will likely take some time for China's economy to recover, especially while the country's zero-COVID policy remains in place."There is still quite some uncertainty and a scare that if there is a positive case in the office building or in ...
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EU To Ban Most Russian Oil by Year-End

European Union leaders agreed late Monday to immediately ban 75% of oil imports, with plans to reach a ban on 90% of Russian oil by the end of this year, the Associated Press reported. The sanction covers oil imported by sea, but allows a temporary exemption on imports delivered by pipeline, "a move that was crucial to bring landlocked Hungary on b...
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The Latest Podcast Episode of Extra Credit is Here!

Its a rainy day here at NACM headquarters in Columbia, Maryland. But what better way to spend the day inside than listening to the latest episode of our Extra Credit #podcast ? ?Listen here: https://www.buzzsprout.com/1927071/10692102This week we talked about...1. Credit departments losing staff to other companies2. Possible early signs of an ...
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Stagflation Could Be Ahead for US Economy

Stagflation occurs when increasing prices and slowing economic growth occur at the same time. Inflation is currently sitting near a 40-year high, but economic growth is still fairly healthy and the unemployment rate is low.However, the Federal Reserve is playing a risky game of raising interest rates, which could send the U.S. economy into a 1970's...
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Americans Concerned About Economic Cost of Russian Sanctions, Poll Shows

Americans are becoming less concerned about punishing Russia for invading Ukraine and more concerned about the cost those sanctions are having on the economy, according to a poll from The Associated Press-NORC Center for Publish Affairs Research.More than half (51%) of U.S. adults say limiting damage to the U.S. economy should be a top priority whi...
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Listen to the Newest Episode of Extra Credit!

Have five minutes? Use it to get caught up on the latest B2B news in this week's episode of NACM's Extra Credit #podcast? (Hint: listeners will hear an exclusive webinar coupon code) ?Click the link to listen: https://www.buzzsprout.com/1927071/10652328This week we talked about...1. How Russia's invasion into Ukraine has complicated global tra...
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Homebuilding Permits Tumble in April

The housing market is showing signs of cooling, as U.S. homebuilding permits dropped to a five-month low last month, Reuters reports. "Homebuilding was already being constrained by soaring prices as well as shortages of materials," the article reads. "The housing market is the sector of the economy most sensitive to interest rates, with building pe...
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Biden Administration to Ease Some Economic Sanctions Against Venezuela

The U.S. is moving to ease some economic sanctions against Venezuela in hopes to encourage negotiations between the U.S.-backed opposition and Nicolás Maduro's government, according to the Associated Press.Several U.S. oil firms had their Venezuelan operations frozen by sanctions first imposed in 2019 to "choke oil exports and deprive Caracas of it...
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Listen to the Latest Episode of Extra Credit!

Grab a cup of coffee and start your morning by listening to the latest episode of NACM's Extra Credit #podcast! ? ?Episode #7 (buzzsprout.com)This week we chatted about...1. The biggest challenges facing the U.S. economy today2. How industry credit groups compare to other information sources3. Turning risk into opportunities for growthWhat topics w...
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Long Road to Recovery for US Inflation

Inflation slowed in April after seven months of surging, a signal that prices may already have peaked. However, inflation still has a long way to go. Consumer prices rose 8.3% in April, down slightly from the 8.5% year-over-year surge in March, per a government report."The Federal Reserve has signaled that it is all-in on fighting inflation but cal...
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Cost of Diesel Continues to Climb

The price for a gallon of diesel fuel hit another record month, costing $5.62 compared to the average $2.44 per gallon the same time last year, according to the American Automobile Association (AAA). The cost increases come as diesel inventories sit at historic lows."Fuel prices have surged as efforts to isolate Russia, one of Europe's most importa...
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