Bank of America survey: 71% of workers say their salaries are not keeping pace with inflation

New York CNN Business – There is mounting evidence that Americans are struggling to keep up with the crush inflation. Nearly three in four employees (71%) said the cost of living outweighs their salaries and wages, according to a Bank of America-sponsored survey first shared with CNN on Tuesday. That’s up from 58% in February. … Read more

The S&P 500 saw its third drop of more than 10%. Here’s what history shows about previous bear markets hitting new lows from there, according to Bespoke.

Stocks fell sharply after the Federal Reserve announced on Wednesday that it had raised its benchmark rate by three-quarters of a percentage point while battling inflation, with the S&P 500 Index continuing its slide that Bespoke Investment Group described as its third decline. “Where this bear market ultimately lies is anyone’s guess, and events outside … Read more

Rail strike averted after lengthy talks reached agreement in principle

Washington DC CNN Business – Unions and management reached a tentative agreement early Thursday, to avert the freight rail strike that occurred threatened to paralyze US supply chains And push the prices of many commodities higher. The deal with unions representing more than 50,000 engineers and conductors was announced just after 5 a.m. in a … Read more

Why this Fed move could be the ‘wild card’ flooding the stock market

Quantitative easing is credited with generating stock returns and boosting other speculative assets by flooding markets with liquidity as the Federal Reserve raised trillions of dollars in bonds after the financial crisis and amid the coronavirus pandemic. Investors and policy makers may underestimate what happens when the tide recedes. “I don’t know if the Fed … Read more