The Daily Money: Markets fret over inflation, debt ceiling talks and stricter bank lending

Good morning, and happy Tuesday! It's Medora, again, in Chicago where our Blackhawks team beat the odds and won the NHL's draft lottery, which means a chance to choose hockey phenom Connor Bedard No. 1 overall at the event June 28 in Nashville! Chicagoans take any good sports news whenever we can get it. There usually isn't much of it!

Speaking of not having much good news, investors are jittery today ahead of inflation data on Wednesday, debt ceiling talks and a Federal Reserve report on Monday showing banks have tightened the screws on lending. Banks have raised the bar on lending for every category of borrower, which means unless you've got impeccable credit history, you're going to have a harder time accessing money. Economists expect this to squeeze consumers and businesses and put a hard brake on the economy and lead to joblessness. Drug maker Novavax and professional app LinkedIn announced layoffs on Tuesday.

Stay tuned...

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About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.