U.S. Finance Updates: Inflation Stimulus Checks, Student Loan Cancellations…
Manyone in the United States find that they need to watch their spending right now because of the increase in gas prices and the rise in inflationbut some programs are offered by both federal and state governments try to help as many citizens as possible.
In our live blog this Wednesday, April 6, we’ll be highlighting the latest benefit programs which were introduced to provide support to the Americans.
The Federal Reserve plans a “predictable” reduction in its $9 billion in assets
The country’s central bank has provided more details on how it plans to undo the billions of dollars in asset purchases it has made during the COVID-induced economic downturn.
The Federal Reserve released the minutes of its March 15-16 meeting on Wednesday, detailing conversations among senior central bank officials who suggest the Fed will soon begin the process of reducing its 9 trillion dollars balance sheet.
April 6, 2022 Powerball Numbers
According to the Powerball website, the jackpot will reach around $246 million after no one won the draw on Monday night.
Here are the winning numbers.
Another 200,000 Americans have likely filed new claims
Initial jobless claims in the United States are again expected to be around 200,000, with the rate of new layoffs and layoffs remaining relatively low compared to pre-pandemic averages.
The Labor Department will release the latest weekly jobless claims report Thursday at 8:30 a.m. ET.
If the numbers come in as expected, the latest data will show a fourth straight week with less than 220,000 new jobless claims – or the approximate weekly average rate of new claims throughout 2019. As late as mid-March, from New jobless claims had fallen to their lowest level since September 1969, totaling 188,000.
COLA Social Security: When will your fourth round check arrive?
Other Social Security checks should arrive in the mail and will be sent on the second, third and fourth Wednesdays depending on birth dates.
If the checks aren’t enough for people to meet their basic needs, they might also be eligible for the SSI program.
Learn more about COLA Social Security here.
Student loan break: How to take advantage of Biden’s latest extension
Federal student loan repayments were supposed to resume on May 1, but Joe Biden wants to delay that until August 31, but how will that affect those in college?
There are nearly seven million loans that have not been repaid, meaning they are at least 270 days past due. And those who have received loans will therefore not be asked to make any repayments before August 31.
Learn more here on student loan suspension.
Dogecoin: What effect will Elon Musk’s recent Twitter investment have on its price?
After Musk bought a stake in Twitter, making him the social network’s largest single shareholder, what will happen to Dogecoin, as many thought it would mean an increase in the cryptocurrency’s value .
Musk has been a crypto proponent and Tesla has announced that it will accept Dogecoin as a form of payment.
Learn more here on Dogecoin and Elon Musk.
Student Loan Forgiveness
Some graduates in the United States might have their student loan debt wiped if certain conditions are met.
One of the main criteria is that this can only happen after a period of 10 years in which 120 payments have been made.
Learn more here on student loan forgiveness.
Inflation stimulus checks
the rise in inflation in the United States has led several states to seek to send stimulus checkstyle payments to their citizens, given that some states have a budget surplus.
So far, five states have introduced tax breaks for their residents, while the Gas Rebate Act of 2022 has been signed by three governors.
Learn more here on inflation stimulus checks.
Credit for child care and dependent care
All parents who must pay for child care in the United States can receive financial assistance through the Credit for child care and dependent care.
As long as you are a parent who has to care for a child under 13 but has to go to work, you may qualify.
Learn more here about the Credit for child care and dependent care.
Georgia Tax Refund Refund
The state of Georgia has a budget surplus and this led Governor Brian Kemp to choose to enact the law House Bill 1302which will benefit people who filed tax returns in the 2020 and 2021 tax years.
There is a $250 check for single filers and those who are married but filing separately, while there is a payment of 375 dollars for the head of household and a $500 check for married couples filing jointly.
Learn more here about the Georgia Tax Refund Refund.