Fed Chair Jerome Powell emphasized the necessity of “below-trend growth” in his recent remarks at the Kansas City Fed’s economic symposium, cautioning that persistent “above-trend growth” could trigger further monetary policy tightening. Fed Chair Jerome Powell sees signs of a cooling US job market, aligning with the Federal Reserve’s quest for weaker job creation and…
A new survey reports that 42% of households reliant on the Supplemental Nutrition Assistance Program or SNAP are skipping meals because they cannot afford enough food because of inflation. 93% of SNAP beneficiaries reported problems paying for basic household expenses In general, inflation will always penalize those with fewer alternatives. For example, a richer…
This development raised eyebrows, considering the backdrop of a recent faculty strike and the university’s alleged financial struggles. Zaldwaynaka Scott, the president of Chicago State University, found herself in the spotlight recently due to a $50,000 bonus she received, pushing her annual compensation to over $500,000 During the strike, university administrators cited financial constraints as…
As the student loan payment pause comes to an end in October, over 40 million Americans are collectively burdened with a staggering $1.7 trillion in student loan debt. The looming restart of payments is causing anxiety, leading them to explore avenues for student loan forgiveness, which could potentially alleviate their financial woes President Joe Biden‘s…
Here’s why Americans with no retirement savings are expected to work longer than planned. Americans with No Retirement Savings Could Possibly Work Longer Than They Planned to Meet Their Basic Needs Millions of Americans nearing their retirement age reportedly have no retirement savings could possibly work longer than they planned to meet their basic needs,…
After a three-and-a-half-year redemption, interest began accruing on federal student loans again last Friday, marking the official end to pandemic relief for about 43 million borrowers. The first student loan payments will be due next month. Here are three steps you can take now to ensure the process of your student loan payments is…
Janani Ramachandran, representing District 4 in Oakland, organized a virtual town hall, collaborating with the California Department of Insurance and the Oakland Firesafe Council to discuss insurance issues and wildfire prevention measures. City Councilmember Janani Ramachandran has taken proactive steps to address the pressing insurance dilemma Residents in fire-prone areas like Montclair, Merriewood, and Piedmont…
New overtime pay is expected to cost employers up to $664 million following the proposed extended overtime eligibility for workers. New Overtime Pay to Extend Overtime Eligibility for Workers to Cost Employers Up to $664 Million New overtime pay extending overtime eligibility for millions of workers would cost employers up to $664 million as the…
According to projections from the Congressional Budget Office (CBO), this potential reduction could be particularly harsh for Americans born after 1970. Social Security is at risk of facing a severe funding shortfall in the near future, which could lead to a substantial reduction in benefits for retirees within a decade The impending shortfall is linked…
While no one clinched the coveted jackpot, there were still some lucky winners. In the most recent drawing of the multi-state Powerball lottery numbers, no tickets were sold with all six numbers, propelling the estimated jackpot for this Saturday’s drawing to a staggering $420 million Two tickets managed to match five out of the six…