LockBit Ransomware Group Claims Hack on Federal Reserve Bank

LockBit ransomware group claims to have hacked the Federal Reserve Bank and threatens to release 33 terabytes of sensitive data if not paid ransom by a certain deadline. Cybersecurity experts are skeptical of the claims.

Impact of Surging Immigration on Inflation and Interest Rates

Neel Kashkari of the Federal Reserve Bank of Minneapolis believes surging immigration is keeping inflation and interest rates high, hindering progress on inflation. He warns that U.S. borrowing costs will likely remain steady for an extended period. The booming demand for housing, fueled by immigration and underbuilding, is a major concern.

Credit Card Delinquency Rates in the U.S.

Delinquency rates among American credit card holders are at an all-time high, with a record number of active accounts having a balance of over $2,000. The Federal Reserve Bank of Philadelphia report highlights stress among cardholders, with increasing late payments and decreasing credit scores.