New York and California are raising the minimum wage for fast food workers. Out west, the rate will start at $20 per hour beginning in April. Meanwhile, New York will increase rates to $18 per hour starting next month.
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
Markets soared in May after Nvidia’s Q1 success, but concerns over slowing consumer spending, especially among middle—and lower-income groups, loom large.
The U.S. economy added 272,000 jobs in May, far more than expected. But that number doesn't tell the whole story. Interest rate cuts could still be on the way.