Inflation and interest rate hikes are negatively impacting Americans' financial well-being: survey

Inflation and interest rate hikes are negatively impacting Americans' financial well-being: survey

Inflation and interest rate hikes have negatively impacted Americans' financial well-being and many have made no progress in saving for retirement or building emergency funds, according to a survey by Morning Consult. Here’s what you need to know.

Inflation and interest rate hikes have negatively impacted Americans' financial well-being and many have made no progress in saving for retirement or building emergency funds, according to a survey by Morning Consult. Here’s what you need to know.

Bank deposits fell by more than $76 billion

Bank deposits fell by more than $76 billion

Bank deposits fell by $76.2 billion in April, following the highly publicized closures of Silicon Valley Bank (SVB) and other tech-focused financial institutions. Moreover, high interest rates continue to put pressure on both banks and consumers.

Bank deposits fell by $76.2 billion in April, following the highly publicized closures of Silicon Valley Bank (SVB) and other tech-focused financial institutions. Moreover, high interest rates continue to put pressure on both banks and consumers.

First Republic Bank seized by regulators, sold to JPMorgan Chase

First Republic Bank seized by regulators, sold to JPMorgan Chase

San Francisco-based First Republic is the third midsize bank to fail in two months and is the second-biggest bank failure in U.S. history.

San Francisco-based First Republic is the third midsize bank to fail in two months and is the second-biggest bank failure in U.S. history.

Former Apple employee ordered to serve jail time, pay restitution for fleecing the company

Former Apple employee ordered to serve jail time, pay restitution for fleecing the company

Dhirendra Prasad’s sentencing for two charges — conspiracy to commit mail fraud and wire fraud and conspiracy to defraud the U.S. — stemmed from an alleged plot that lost Apple over $17 million.

Dhirendra Prasad’s sentencing for two charges — conspiracy to commit mail fraud and wire fraud and conspiracy to defraud the U.S. — stemmed from an alleged plot that lost Apple over $17 million.

Gas prices dip, offering consumers some relief at the pump: AAA

Gas prices dip, offering consumers some relief at the pump: AAA

The national average cost for a gallon of gas dropped by five cents from last week to $3.68, reflecting a dip in oil prices, AAA said.

The national average cost for a gallon of gas dropped by five cents from last week to $3.68, reflecting a dip in oil prices, AAA said.

The Fed is expected to raise interest rates again in May: Economists

The Fed is expected to raise interest rates again in May: Economists

The Fed is expected to raise interest rates by 25 basis points again in May, according to a poll of economists. This is what you need to know.

The Fed is expected to raise interest rates by 25 basis points again in May, according to a poll of economists. This is what you need to know.

Engagement ring sales fall sharply – blame COVID, jewelry giant says

Engagement ring sales fall sharply – blame COVID, jewelry giant says

Pandemic lockdowns ended many early relationships and led to a dramatic decline in dating overall, resulting in “the engagement gap that we’re still seeing today," industry executives said.

Pandemic lockdowns ended many early relationships and led to a dramatic decline in dating overall, resulting in “the engagement gap that we’re still seeing today," industry executives said.

Boeing loses $425 million but plans production boost for Max

Boeing loses $425 million but plans production boost for Max

Boeing lost $425 million in the first quarter — more than Wall Street expected — but said Wednesday that it plans to boost production of its best-selling plane, the 737 Max, later this year.

Boeing lost $425 million in the first quarter — more than Wall Street expected — but said Wednesday that it plans to boost production of its best-selling plane, the 737 Max, later this year.