India has presented its final trade proposal to the United States, with the outcome of an interim deal now dependent on President Trump's decision, according to Bloomberg.
This development follows Trump's recent diplomatic efforts, where he referenced successfully mediating trade relations between India and Pakistan as a model for potential Israel-Iran negotiations.
- Final trade terms submitted by India
- Decision now rests with US administration
- Builds on Trump's previous regional trade initiatives
Key implications remain uncertain as markets await US response.
India has made its best offer to the US on trade and the fate of an interim deal now lies in the hands of President Donald Trump, per Bloomberg.
NY Fed Warns of Major Credit Score Impact for Late Student Loan Payments
The Federal Reserve Bank of New York reports that student loan borrowers who miss payments could face severe credit score consequences, with potential drops of up to 171 points. Key findings: - 24% of borrowers with due payments were behind in Q1 - Credit score impacts could significantly affect borrowers' financial futures - Data comes from NY Fed's latest analysis of student loan repayment trends This development is particularly significant as student loan payments have recently resumed after a multi-year pause.
Northwestern Mutual Study Sets New Retirement Savings Target at $1.26M
A new study by Northwestern Mutual reveals Americans now need $1.26M for a comfortable retirement, up from previous estimates. This comes amid concerning trends: - Only 3.2% of retirees currently have $1M+ saved - 77% of Americans report feeling financially insecure (up from 72% in 2023) - 45% say they need $100k+ annual income for financial security The gap between retirement needs and actual savings continues to widen, with most Americans falling significantly short of recommended targets.
Homeowners Have 2.5x More Retirement Savings Than Renters
New data from the Federal Reserve of St. Louis reveals a significant wealth gap between homeowners and renters in retirement savings. Homeowners maintain an average of $303,000 in retirement accounts - more than 2.5 times higher than renters. This follows concerning trends from late 2024, when Redfin reported that 13% of Americans were withdrawing from retirement funds just to cover rental costs. **Key Points:** - Homeowners: $303,000 avg retirement savings - Renters: Less than $121,200 avg retirement savings - 13% of Americans using retirement funds for rent
Multiple Job Holdings Rise Among US Workers
The percentage of Americans working multiple jobs has increased to 5.3-5.5% in early 2025, according to Wall Street Journal data. This trend emerges against a backdrop of steady unemployment rates, which remained at 3.8% while annual wage growth showed signs of cooling from 4.2% to 4%. Key points: - Multiple job holdings reach 5.3-5.5% - Unemployment stable at 3.8% - Wage growth slowing to 4% These figures suggest shifting employment patterns in the US workforce, with more Americans taking on additional work despite stable unemployment rates.