A case due to come before the U.S. Supreme Court next week has the potential to expose every federal bank regulator to political inference while also jeopardizing Social Security and Medicare, the federal health insurance program, U.S. Senator Elizabeth Warren said on Thursday.

The Supreme Court begins a new term on Monday, and its first week includes some important repair work on the Constitution’s separation of powers. On Tuesday the Justices will hear a challenge to the unconstitutional design of the Consumer Financial Protection Bureau (CFPB v. Community Financial Services Association).

Democrats in Congress constructed the CFPB to be insulated from accountability by the political branches. This fits the progressive vision of an administrative state run by supposed experts who will instruct Americans on proper behavior whether they like it or not.

In the aftermath of a major marketing controversy in which Bud Light partnered with transgender influencer Dylan Mulvaney and triggered a substantial boycott of the product, one consumer advocacy group has launched a service to warn people of woke practices at major firms.

Consumers' Research this week announced the launch of "Woke Alerts," a digital notification service that informs users when companies engage in political activism. Those who sign up will receive text message updates informing them of such moves.

Air fryers sold at Target, Best Buy, Amazon and other retailers were recalled by the manufacturer after it received hundreds of reports of the fryer overheating or catching fire, according to the U.S. Consumer Product Safety Commission. 

Cosori said about 2 million of its air fryers in the United States were affected by the recall. An additional 271,000 units were sold in Canada and Mexico, the CPSC said. 

The recalled units have a defect that can cause a wire connection to overheat and ignite a fire, according to the CPSC.

Spending at retail stores rose more than expected in January as consumer demand remains strong even in the face of stubbornly high inflation and rising interest rates.

Retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, rose 3% in January, the Commerce Department said Wednesday. It marked the biggest monthly gain since March 2021 and is well above the 1.8% estimate from Refinitiv economists. 

The White House will propose a rule intended to lower credit card late fees to approximately $8. 

The Consumer Financial Protection Bureau (CFPB) will propose the rule at President Biden's fourth Competition Council meeting.

U.S. consumer spending fell in December, putting the economy on a lower growth path heading into 2023, while inflation continued to subside, which could give the Federal Reserve room to further slow the pace of its interest rate hikes next week.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, dropped 0.2% last month, the Commerce Department said on Friday. Data for November was revised lower to show spending slipping 0.1% instead gaining 0.1% as previously reported. Economists polled by Reuters had forecast consumer spending dipping 0.1%.

A federal agency says a ban on gas stoves is on the table amid rising concern about harmful indoor air pollutants emitted by the appliances.

The U.S. Consumer Product Safety Commission plans to take action to address the pollution, which can cause health and respiratory problems.

“This is a hidden hazard,” Richard Trumka Jr., an agency commissioner, said in an interview. “Any option is on the table. Products that can’t be made safe can be banned.”

U.S. retail sales rose 7.6% between Nov. 1 and Dec. 24, which encompasses a majority of the holiday season, as steep discounts lured deal-hungry consumers, a Mastercard report showed on Monday.

The increase is higher than the 7.1% growth Mastercard (MA.N) had forecast in September, when it anticipated consumers would pull purchases to October in the hunt for early deals.

However, this year's holiday retail sales growth is less than the 8.5% increase last year as decades-high inflation, rising interest rates and the threat of a recession turned consumers cautious.

Jaiy Dickson’s family has an unorthodox Christmas tradition: no gift giving.  

For years, the Boston-based law student would pool resources with her sister and stepfather to buy her mother appliances such as a KitchenAid mixer. In turn, Ms. Dickson’s mother would buy her adult daughters a select item, such as a winter coat. But the family members began running out of ideas for bigger gifts. So, a few years ago, they collectively decided to stop giving presents altogether. As a result, her family’s outlook on what makes the Yuletide season meaningful has shifted.