ALL THE MONEY NEWS YOU NEED TO KNOW | | | |
Happy Tuesday, Daily Money readers. It's Bailey Schulz here to bring you the day's top headlines. |
After a series of aggressive interest rate hikes, the Federal Reserve is expected to approve one more quarter-point increase on Wednesday before signaling a pause. |
A break from rate increases would be a relief for consumers and businesses struggling with higher borrowing costs and could ease the worries of investors battered by the market-dampening fallout from the 13-month rate hiking campaign. |
But this may not be the end of rate hikes. The Fed is expected to say it's prepared to raise interest rates further if inflation and the labor market fail to cool down, and officials don't expect rate cuts until next year. | Picture of the Federal Reserve Building Getty Images |
American Airlines pilots authorized a strike |
Members of the Allied Pilots Association, which represents American's pilots, said 96% of the airline's 15,000 pilots participated in an April vote on whether to strike, with more than 99% affirming the possibility of a strike. |
But a vote won't necessarily lead to a strike. Authorization votes are a fairly routine part of contract negotiations at airlines, and so far neither the union nor American's management are signaling that a work stoppage will actually occur. |
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| • | Applebee's is celebrating spring with $6 cocktails and beer. | | • | El Pollo Loco is offering new and existing Loco Rewards members a free Crunchy Birria Taco with the purchase of any Shredded Beef Birria entrée on Friday. | | • | Sip on $6 Cinco 'Ritas on Cinco de Mayo at On The Border. |
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Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. | | | | The Federal Reserve is expected to raise its key interest rate by another quarter point, then signal a long pause - if inflation eases as projected | | | | American Airlines pilots voted in favor of a strike, but that doesn't mean it's going to happen. Here's what travelers need to know. | | | | Many restaurants offer deals on Cinco de Mayo, which commemorates Mexico's victory over France in the Battle of Puebla in 1862. | | | | Subaru is recalling 4,000 2023 Impreza vehicles due to safety concerns. Forest River recalls over 100 vehicles. | | | | JPMorgan Chase Bank CEO Jamie Dimon said this part of the banking crisis "is over" after regulators seized First Republic Bank early Monday. | | | | Don't pack these items for your next Disney trip. | | | | FedEx Freight plans to close the locations later this year. The news comes as FedEx undergoes a significant consolidation throughout the company. | | | | Many users are refusing to pay for a little white tick in a blue circle. Here's how to tell if the person you're following is legit. | | | | Akorn Pharmaceuticals abruptly shut down in February, and has issued a recall of its human and animal drugs | | | | As Ford launches its all-new 2023 Super Duty truck with record orders that will take months to fill, quality details are checked and rechecked. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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