Travelers are taking vibe checks literally, Hope writes.
Hotel reviews mentioning the word "vibe" jumped 1,090% in 2022 from 2021, according to data from the Hotels.com app.
Among the most popular vibes: "Modern," "funky," "cozy" and "retro."
The big picture: As travel has gotten more expensive, some consumers are looking for specific vibes at "dupes" — places with more affordable prices and maybe with fewer crowds.
According to Expedia, Taipei is a good dupe for those looking at a trip to Seoul, Paros for a Santorini alternative, and Québec City for Geneva's mood and feel.
America's seniors continue to be a key driver of consumer spending.
Why it matters: Their spending power may play an important role in the resiliency of the economy, as Gen X, millennials and younger consumers slow down.
There's an ongoing debate about whether private equity could create systemic risk for the U.S. economy, but regulators aren't waiting for consensus.
Driving the news: The Financial Stability Oversight Council recently finalized guidance that will make it easier to designate nonbanks, including private equity and hedge funds, as systemically important financial institutions.
Getir, a Turkish food delivery company, has acquired New York-based FreshDirect from Ahold Delhaize USA.
The big picture: FreshDirect was one of the first companies to leverage digital tech for grocery delivery, launching with lots of VC backing in 1999, but now is falling prey to industry consolidation.
The blockbusterpay packageswon by union workers in recent months are a sign the labor market is still hot, Federal Reserve Bank of Minneapolis president Neel Kashkari tells Axios.
Why it matters: A series of historic deals between corporate America and organized labor signal an extraordinary pandemic-era shift is still underway — workers have the power, even as the Fed has moved aggressively to cool the economy down.
Airbnb is rolling out a handful of new changes meant to further address some of the recent criticisms lobbied against the vacation booking platform, as travelers continue hashing out the great vacation home-versus-hotel debate.
Driving the news: The big headline is a new "Guest Favorites" feature meant to highlight outstanding homes and rooms on the platform.
The big picture: Distress in the commercial real estate sector has so far been mostly on paper — it's a slow-moving wreck that'll take years to shake out.
The share of Americans who have debt in collections is hovering at a historic low, according to data from the New York Fed out Tuesday.
Why it matters: It's an encouraging sign that even as there are some signals of weakness in household finances, like rising credit card delinquencies, people are paying their bills.
It would take spending cuts or tax increases equivalent to $2,400 per American per year to stabilize the national debt, according to a new book that shows the U.S. government's fiscal situation is more precarious than lawmakers of either party acknowledge.
Why it matters: The numbers amount to an alarm bell about America's fiscal vulnerability at a time when there is bipartisan resistance to steps that might change the course in a major way.
California's prolonged megadrought that helped send grocery prices soaring is finally abating, but experts warn more needs to be done to address water overuse in the state before the next dry threat arrives.
The big picture: Nowhere in the state is classified as in drought and only 5% in Northern and Southeast California is "abnormally dry," per the U.S. Drought Monitor — though it does not consider all drought factors, such as groundwater depletion.
