GO in the Know: ‘Whopper’ Recession Predicted, Thrift Shopping Surges & Top Financial News for August 31

GO in the Know 3
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Here is the lowdown on today’s top financial stories. Enjoy the last day of August, everyone!

The Big Lead: ‘Whopper’ of a Recession in 2023 Predicted by Prominent Economist

With another substantial federal interest rate hike likely coming in mid-September and higher inflation fears continuing to mount, a respected American economist is predicting a “whopper” of a recession in 2023.

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Economy Spotlight: Credit Scores Remain at All-Time Highs, but That Could Change

A new analysis from FICO found that the average credit score in the United States remains at an all-time high in 2022, despite the fact that soaring inflation has pushed many Americans to rely more heavily on their credit cards to afford the high prices.

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That’s Interesting: 93% of Americans Are Shopping for Secondhand Items Online

Many consumers are responding to higher prices by bypassing traditional retailers and buying used items on secondhand sites, otherwise known as “recommerce” sites.

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Bonus: How To Retire With No Savings

Maintaining a decent standard of living will not be easy if you are set to retire with no savings, but it’s not impossible either. Here’s what you need to know about retiring if you didn’t save nearly enough or didn’t save anything at all.

Make Your Money Work for You

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