USA finance and payments live updates: student debt cancellation, $2,753 monthly check, tax refund, recession…

Headlines: 1 May, 2022

– Inflationary pressures mean that civilian workers’ average income declined 3.7% in real terms over the year ending March 2022

– Wall Street had the worst day in over a year on Friday, with the Dow Jones (2.7%), NASDAQ (4.1%), and S&P 500 (3.6%) all closing the day down

– Amazon stock fell by fourteen percent, representing the worst day for the company in over eight years

– President Biden confirms intention to announce decision on student debt cancellationin the coming weeks

– Maine begins to send $850 stimulus checks to residents as infant cuts into purchasing power

– Some states are offering higher SNAP benefit amounts as food prices increase

– Biden confirms that he will not be pushing for $50,000 of student debt forgiveness

– Where do the experts stand on renting vs buying in this new housing market

Helpful Information & links

– Looking for a status update on your tax refund? Use the IRS’ Wheres My Refund? tool.

– Which states have the lowest prices for electricity?

– Medicare enrollment:what you need to know

– Chicago provides $150 gas cards: how to apply

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