The Money Section | Inflation and interest rates remain high for the foreseeable future

Also, Elon Musk gets approval for Tesla in China. ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     [Fort Worth Star-Telegram](~/AAQRxQA~/RgRoFoXXP0QeaHR0cHM6Ly93d3cuc3Rhci10ZWxlZ3JhbS5jb20vVwNzcGNCCmYz1wA0Ztx9FuFSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADTg~~) ͏ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ May 2, 2024 • Issue #83 [The Money Section] This week, we’re looking at whether stubbornly high inflation could morph into a stagflation scenario, Tesla’s conditional approval to sell its driver-assistance system in China, a new survey showing the huge impact student loan debt has on people’s lives, and the rising cost of fast food in California. Social Security checks arrived yesterday! [Social Security](~/AAQRxQA~/RgRoFoXXP0SCaHR0cHM6Ly9tb25leS5jb20vc29jaWFsLXNlY3VyaXR5LWNoZWNrLXRoaXMtbW9udGgvP3hpZD1tY2NsYXRjaHkmdXRtX3NvdXJjZT1tY2NsYXRjaHkmdXRtX21lZGl1bT1yc3Nfc3luZCZ1dG1fY29udGVudD10bXNfaXNzdWU4M1cDc3BjQgpmM9cANGbcfRbhUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAA04~) Olive Burd / Money; Getty Images SSI recipients should have gotten their checks on Wednesday. Anyone who started receiving Social Security before May 1997 will be paid tomorrow. If you receive both SSI and Social Security, you should be getting another check tomorrow as well. For those who started receiving Social Security after May 1997, your birthday will determine your payment date. Make sense? [Read more.](~/AAQRxQA~/RgRoFoXXP0SCaHR0cHM6Ly9tb25leS5jb20vc29jaWFsLXNlY3VyaXR5LWNoZWNrLXRoaXMtbW9udGgvP3hpZD1tY2NsYXRjaHkmdXRtX3NvdXJjZT1tY2NsYXRjaHkmdXRtX21lZGl1bT1yc3Nfc3luZCZ1dG1fY29udGVudD10bXNfaXNzdWU4M1cDc3BjQgpmM9cANGbcfRbhUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAA04~) 📈 [Stubborn inflation could prod Fed to keep rates high for longer.](~/AAQRxQA~/RgRoFoXXP0REaHR0cHM6Ly93d3cubnl0aW1lcy5jb20vMjAyNC8wNC8yNi9idXNpbmVzcy9pbmZsYXRpb24tZmVkLXJhdGVzLmh0bWxXA3NwY0IKZjPXADRm3H0W4VIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAANO) Investors are doubting hopes of an imminent rate cut as inflation remains high. Though the economy is strong, the Fed may need to hold rates high for longer to control the situation. The unexpected persistence of inflation is making it difficult for economists to predict the Fed’s future actions. ↕️ [Stagflation fears come back with a vengeance.](~/AAQRxQA~/RgRoFoXXP0RQaHR0cHM6Ly93d3cuZm94YnVzaW5lc3MuY29tL2Vjb25vbXkvc3RhZ2ZsYXRpb24tZmVhcnMtY29tZS1iYWNrLXdpdGgtYS12ZW5nZWFuY2VXA3NwY0IKZjPXADRm3H0W4VIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAANO) Fears of a 1970s-style stagflation are rising on Wall Street. This worst-case scenario combines stubbornly high inflation and a slowing economy. However, the surprisingly strong job market suggests the economy might be more resilient than expected. How much will Alphabet be paying its shareholders? [Shareholders](~/AAQRxQA~/RgRoFoXXP0SOaHR0cHM6Ly9tb25leS5jb20vYWxwaGFiZXQtc3RvY2stZ29vZ2xlLXN0YXJ0LXBheWluZy1kaXZpZGVuZHMvP3hpZD1tY2NsYXRjaHkmdXRtX3NvdXJjZT1tY2NsYXRjaHkmdXRtX21lZGl1bT1yc3Nfc3luZCZ1dG1fY29udGVudD10bXNfaXNzdWU4M1cDc3BjQgpmM9cANGbcfRbhUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAA04~) Rangely Garcia for Money Google’s parent company impressed investors with Q1 earnings that beat expectations. The company also announced a $70 billion stock buyback plan and its first-ever dividend, causing its share price to surge 15%. The quarterly dividend will be 20 cents per share and will be paid out in June. [Read more.](~/AAQRxQA~/RgRoFoXXP0SOaHR0cHM6Ly9tb25leS5jb20vYWxwaGFiZXQtc3RvY2stZ29vZ2xlLXN0YXJ0LXBheWluZy1kaXZpZGVuZHMvP3hpZD1tY2NsYXRjaHkmdXRtX3NvdXJjZT1tY2NsYXRjaHkmdXRtX21lZGl1bT1yc3Nfc3luZCZ1dG1fY29udGVudD10bXNfaXNzdWU4M1cDc3BjQgpmM9cANGbcfRbhUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAA04~) 🏠[Will mortgage rates rise after this week’s Fed meeting?](~/AAQRxQA~/RgRoFoXXP0RTaHR0cHM6Ly93d3cuY2JzbmV3cy5jb20vbmV3cy93aWxsLW1vcnRnYWdlLXJhdGVzLXJpc2UtYWZ0ZXItdGhpcy13ZWVrcy1mZWQtbWVldGluZy9XA3NwY0IKZjPXADRm3H0W4VIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAANO) The Federal Reserve meets this week to decide on interest rates. While the chances of a rate cut are minimal, a rate hike is also unlikely. The Fed is expected to keep rates steady, which might not be positive news for mortgage rates as they could rise in anticipation of a future hike. ⚡ [Tesla soars on tentative approval for driving system in China.](~/AAQRxQA~/RgRoFoXXP0RsaHR0cHM6Ly93d3cuYmxvb21iZXJnLmNvbS9uZXdzL2FydGljbGVzLzIwMjQtMDQtMjkvdGVzbGEtY2xlYXJzLWtleS1jaGluYS1mc2QtaHVyZGxlLXdpdGgtYmFpZHUtbWFwcGluZy1kZWFsVwNzcGNCCmYz1wA0Ztx9FuFSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADTg~~) Tesla got conditional approval to sell its driver-assistance system in China after Elon Musk met with a government official. This is a big win for Tesla as it faces slowing sales in China. The news sent Tesla shares surging 12% at the open of U.S. trading, while Baidu’s stock price rose 2.4% in Hong Kong. Student loan debt is causing people to delay major life events [Debt](~/AAQRxQA~/RgRoFoXXP0SMaHR0cHM6Ly93d3cuc2FjYmVlLmNvbS9tb25leS9zdHVkZW50LWxvYW5zLWRlbGF5LWxpZmUtZXZlbnRzLz94aWQ9bWNjbGF0Y2h5JnV0bV9zb3VyY2U9bWNjbGF0Y2h5JnV0bV9tZWRpdW09cnNzX3N5bmQmdXRtX2NvbnRlbnQ9dG1zX2lzc3VlODNXA3NwY0IKZjPXADRm3H0W4VIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAANO) Money; Getty Images A large-scale survey found that 70% of borrowers are postponing things like buying a house or car due to their student loan debt. This burden is hitting borrowers of all ages, with those between 26 and 35 most affected. This comes as the Biden administration attempts to address the issue with new, targeted loan forgiveness plans. [Read more.](~/AAQRxQA~/RgRoFoXXP0SMaHR0cHM6Ly93d3cuc2FjYmVlLmNvbS9tb25leS9zdHVkZW50LWxvYW5zLWRlbGF5LWxpZmUtZXZlbnRzLz94aWQ9bWNjbGF0Y2h5JnV0bV9zb3VyY2U9bWNjbGF0Y2h5JnV0bV9tZWRpdW09cnNzX3N5bmQmdXRtX2NvbnRlbnQ9dG1zX2lzc3VlODNXA3NwY0IKZjPXADRm3H0W4VIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAANO) 🛏️ [Philips will pay $1.1 billion to settle breathing machine lawsuits.](~/AAQRxQA~/RgRoFoXXP0RTaHR0cHM6Ly93d3cud2FzaGluZ3RvbnBvc3QuY29tL2J1c2luZXNzLzIwMjQvMDQvMjkvcGhpbGlwcy1jcGFwLW1hY2hpbmUtc2V0dGxlbWVudC9XA3NwY0IKZjPXADRm3H0W4VIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAANO) Philips settled a lawsuit in the U.S. for $1.1 billion over faulty sleep apnea machines that were recalled in 2021 due to potential cancer risks. The settlement includes compensation for personal injuries and new devices, along with medical monitoring. 🍔 [California fast-food prices are up as much as 8% since minimum wage hike.](~/AAQRxQA~/RgRoFoXXP0R5aHR0cHM6Ly93d3cubmJjbG9zYW5nZWxlcy5jb20vbmV3cy9sb2NhbC9jYWxpZm9ybmlhLWZhc3QtZm9vZC1wcmljZXMtYXJlLXVwLWFzLW11Y2gtYXMtOC1zaW5jZS1taW5pbXVtLXdhZ2UtaGlrZS8zMzkyMTIyL1cDc3BjQgpmM9cANGbcfRbhUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAA04~) A new study in California found fast food prices have increased since the minimum wage hike for large chains. Prices rose as much as 8% at some restaurants, with Wendy’s leading the increase. Chipotle, Starbucks, Taco Bell, and Burger King also raised prices by varying degrees. Smart Money Move Start boosting your savings today [Savings] [Savings](~/AAQRxQA~/RgRoFoXXP0R3aHR0cHM6Ly9zZWN1cmUubW9uZXkuY29tL3ByL2FkYWU5MTZiODQ2OD94aWQ9bWNjbGF0Y2h5JnV0bV9zb3VyY2U9bWNjbGF0Y2h5JnV0bV9tZWRpdW09cnNzX3N5bmQmdXRtX2NvbnRlbnQ9dG1zX2lzc3VlODNXA3NwY0IKZjPXADRm3H0W4VIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAANO) Are you looking to make the most of your savings? High-yield savings accounts not only help safeguard your money but also make it grow. The best accounts of 2024 feature impressive annual percentage yields (APYs), low balance requirements, and customer-friendly service. With APYs up to 5.05%, you can watch your savings flourish with little effort. [View Money's list of the best high-yield savings accounts and start saving today.](~/AAQRxQA~/RgRoFoXXP0R3aHR0cHM6Ly9zZWN1cmUubW9uZXkuY29tL3ByL2FkYWU5MTZiODQ2OD94aWQ9bWNjbGF0Y2h5JnV0bV9zb3VyY2U9bWNjbGF0Y2h5JnV0bV9tZWRpdW09cnNzX3N5bmQmdXRtX2NvbnRlbnQ9dG1zX2lzc3VlODNXA3NwY0IKZjPXADRm3H0W4VIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAANO) *Rates current as of May 2, 2024, and subject to change. Stories we’re reading this week - [‘Down to the Wire’: Savers Have Just Days to Lock in I Bond Rates Before They Fall](~/AAQRxQA~/RgRoFoXXP0SHaHR0cHM6Ly93d3cua2Fuc2FzY2l0eS5jb20vbW9uZXkvaS1ib25kcy1yYXRlcy1kZWFkbGluZS8_eGlkPW1jY2xhdGNoeSZ1dG1fc291cmNlPW1jY2xhdGNoeSZ1dG1fbWVkaXVtPXJzc19zeW5kJnV0bV9jb250ZW50PXRtc19pc3N1ZTgzVwNzcGNCCmYz1wA0Ztx9FuFSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADTg~~) - [Skydance Offers Paramount a Deal Sweetener: A $3 Billion Cash Infusion](~/AAQRxQA~/RgRoFoXXP0ROaHR0cHM6Ly93d3cubnl0aW1lcy5jb20vMjAyNC8wNC8yOS9idXNpbmVzcy9tZWRpYS9za3lkYW5jZS1wYXJhbW91bnQtZGVhbC5odG1sVwNzcGNCCmYz1wA0Ztx9FuFSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADTg~~) - [Some Student Loan Borrowers Need to Consolidate Now to Get Forgiveness](~/AAQRxQA~/RgRoFoXXP0SSaHR0cHM6Ly9tb25leS5jb20vc3R1ZGVudC1sb2FuLWZvcmdpdmVuZXNzLWlkci1hZGp1c3RtZW50LWRlYWRsaW5lLz94aWQ9bWNjbGF0Y2h5JnV0bV9zb3VyY2U9bWNjbGF0Y2h5JnV0bV9tZWRpdW09cnNzX3N5bmQmdXRtX2NvbnRlbnQ9dG1zX2lzc3VlODNXA3NwY0IKZjPXADRm3H0W4VIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAANO) - [Worst Month Since 2022 Bear Market? 5 Things to Know in Bitcoin This Week](~/AAQRxQA~/RgRoFoXXP0RcaHR0cHM6Ly9jb2ludGVsZWdyYXBoLmNvbS9uZXdzL3dvcnN0LW1vbnRoLXNpbmNlLTIwMjItYmVhci1tYXJrZXQtNS10aGluZ3MtYml0Y29pbi10aGlzLXdlZWtXA3NwY0IKZjPXADRm3H0W4VIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAANO) - [With Inflation Lingering, Is It a Good Idea to Sell Your Stock?](~/AAQRxQA~/RgRoFoXXP0SUaHR0cHM6Ly93d3cubmV3c29ic2VydmVyLmNvbS9tb25leS9zZWxsaW5nLXN0b2NrLXRvLWNvbWJhdC1pbmZsYXRpb24vP3hpZD1tY2NsYXRjaHkmdXRtX3NvdXJjZT1tY2NsYXRjaHkmdXRtX21lZGl1bT1yc3Nfc3luZCZ1dG1fY29udGVudD10bXNfaXNzdWU4M1cDc3BjQgpmM9cANGbcfRbhUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAA04~) - [Affluent Americans Are Driving U.S. Economy And Likely Delaying Need For Fed Rate Cuts](~/AAQRxQA~/RgRoFoXXP0RlaHR0cHM6Ly9hYmNuZXdzLmdvLmNvbS9VUy93aXJlU3RvcnkvYWZmbHVlbnQtYW1lcmljYW5zLWRyaXZpbmctdXMtZWNvbm9teS1kZWxheWluZy1mZWQtcmF0ZS0xMDk3Mzk3NDFXA3NwY0IKZjPXADRm3H0W4VIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAANO) - [Why Keeping Your 401(k) After Retiring Could Be a Smart Savings Decision](~/AAQRxQA~/RgRoFoXXP0SUaHR0cHM6Ly93d3cuY2hhcmxvdHRlb2JzZXJ2ZXIuY29tL21vbmV5L2tlZXAtNDAxay1hZnRlci1yZXRpcmluZy1pcmEvP3hpZD1tY2NsYXRjaHkmdXRtX3NvdXJjZT1tY2NsYXRjaHkmdXRtX21lZGl1bT1yc3Nfc3luZCZ1dG1fY29udGVudD10bXNfaXNzdWU4M1cDc3BjQgpmM9cANGbcfRbhUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAA04~) The Money Section is written in partnership with Money Research Collective This email was sent to {EMAIL} because you are signed up to receive The Money Section from the Fort Worth Star-Telegram. 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