Morning Report: Social Security recipients may see smaller increases next year
The Social Security Cost-of-Living adjustment could be much smaller next year. Recipients saw an 8.7 percent bump this year, the highest in decades. Social Security benefits could increase by just 3 percent or less in 2024 as inflation fades.
Regional Banks report earnings this week. Many say they are paying depositors more to keep them. Small and midsize U.S. banks lost hundreds of billions of dollars in recent weeks to their bigger peers and to money-market funds offering higher yields.
The DOW shed more than 100 points Friday, but notches a fourth straight positive week.
Advance retail sales in March showed consumer spending fell twice as much as expected.
The three most used credit rating agencies have removed medical debt under 500 dollars from consumer credit reports, potentially boosting some Americans’ credit scores. Equifax, Experian, and TransUnion announced the move this week.
Just weeks before wedding season kicks off, David’s Bridal is laying off thousands of employees across the country. Plans are being made to sell the company, eliminating a total of 9-thousand employees across David’s Bridal’s 300 stores. The company never recovered from the pandemic or the shifts in retail that came with it.
