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☆ US soldier arrested in Russia to be detained for two months
▼ + stars: | 2024-05-07 | by ( Caitlin Danaher | ) edition.cnn.com time to read: +2 min

CNN —An American soldier arrested in Russia on suspicion of theft will be detained for two months, a Russian district court said Tuesday. A Russian Foreign Ministry representative told Russian state media TASS on Tuesday that the case is “not related to politics or espionage.”“As far as we understand, this is a purely domestic crime. The arrest comes at a time of huge tension between the US and Russia as the war with Ukraine continues. The soldier was stationed in South Korea when he took leave to travel to Russia on his own, according to another US official. “I am deeply concerned by reports that a US Army officer has been detained in Russia,” House Foreign Affairs Committee Chairman Michael McCaul said Monday.

Persons: –, Gordon Black, Evan Gershkovich, Marine Paul Whelan, Michael McCaul, “ Putin, —, ” CNN’s Natasha Bertrand, Oren Liebermann, Kylie Atwood Organizations: CNN, Russian Foreign Ministry, TASS, Ministry of Foreign Affairs, US State Department, Street, Marine, US Army, ”, Foreign, State Department Locations: American, Russia, Russian, Pervomaisky, Vladivostok, Ukraine, South Korea, Cavazos, Texas

☆ Biden to call for a fight against antisemitism at a precarious moment in Israel’s war in Gaza and amid protests on campus
▼ + stars: | 2024-05-07 | by ( Betsy Klein | Mj Lee | ) edition.cnn.com time to read: +11 min

Washington CNN —President Joe Biden on Tuesday aims to issue a clarion call to fight a swiftly rising tide of antisemitism amid a precarious moment in Israel’s war against Hamas and as protests have swept American college campuses, laying bare Biden’s trouble with some young voters. Biden’s longtime and stalwart support for Israel has come under intense pressure as the humanitarian crisis in Gaza grows. The president plans to address the long history of antisemitism and issue what one senior administration official familiar with the remarks described as a “call to action” on combatting antisemitism. The protests are not expected to be a major part of the speech, the official added. However, Biden does not intend to use his speech on Tuesday to delve into Middle East policy or the current situation in Israel or Gaza.

Persons: Joe Biden, Biden’s, Israel, Biden, White, “ recommit, ” Biden, Karine Jean, Pierre, ” Jonathan Greenblatt, John Kirby, Biden “, Benjamin Netanyahu, it’s, Jean, ”, “, Miguel Cardona, Doug Emhoff, Yom HaShoah, Donald Trump’s, Trump, Adolf Hitler “, CNN’s Dana Bash Organizations: Washington CNN, US, White, CNN, Defamation League, ADL, Hamas, National Security, Qatari, White House, Education’s, Civil, Department of Homeland Security, DHS, Department’s Office, Institute of Politics, Harvard University’s Kennedy Locations: Israel, Gaza, Cairo, Doha, Qatar, Gazan, Rafah, America, Poland

☆ The housing market is 'pretty dire' for younger Americans, says Realtor.com's Danielle Hale
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe housing market is 'pretty dire' for younger Americans, says Realtor.com's Danielle HaleDanielle Hale, Realter.com chief economist, joins 'Squawk Box' to discuss the housing crisis facing young Americans, impact of interest rates on the housing market, and more.

Persons: Danielle Hale Danielle Hale

☆ The great wealth transfer has started — but millennials, Gen Z may not inherit as much as they anticipate
▼ + stars: | 2024-05-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

There's a massive wealth transfer underway. "It has started and it's only going to accelerate," said Liz Koehler, head of advisor engagement for BlackRock's wealth advisory business. And yet, some millennials and Generation Z may not be inheriting as much as they think. Recent reports show a growing disconnect between how much the next generation expects to receive in the "great wealth transfer" and how much their aging parents plan on leaving them. However, 55% of baby boomers who plan to leave behind an inheritance said they will pass on less than $250,000, Alliant found.

Persons: Liz Koehler, Gen Zers, Alliant, Isabel Barrow Organizations: Finance, Alliant Credit Union, Federal Reserve Bank of Boston, Edelman, Edelman Financial Locations: millennials

☆ Opinion | Watching the Protests From Israel
▼ + stars: | 2024-05-07 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: 1 min

Ultimately, the Gaza war protests sweeping campuses are about influencing Israeli politics. So I wanted to know what it’s like to watch these protests from Israel. What are Israelis seeing? “Israelis are seeing a different war than the one that Americans see,” he tells me. “You see one war film, horror film, and we see at home another war film.”

Persons: “, Ezra Klein, Ari Shavit, ” Organizations: Apple, Spotify, Amazon Music, YouTube Locations: Gaza, Israel, Israeli

☆ Sweetgreen Is Introducing Steak. What About Its Climate Goals?
▼ + stars: | 2024-05-07 | by ( Christina Morales | ) www.nytimes.com time to read: +1 min

Nearly two decades after the fast-casual salad chain Sweetgreen was founded, the company announced on Tuesday that it would introduce beef to its menu. According to Nicolas Jammet, a founder of Sweetgreen, the addition of a caramelized garlic steak option comes at a time when many Americans are trying to increase their protein intake and also as Sweetgreen is looking to attract more customers for dinner. The decision, however, leaves many questions about how the company, which has more than 225 locations, may accomplish its goal of carbon neutrality by 2027 when beef production is a significant factor in climate change. As the company’s website states, “Not only do we have a duty on a human level to do our part, but the business case for a great product that also protects the planet is clear.”Mr. Jammet said the company waited to introduce steak in part because it was challenging to prepare among other items in the restaurants, but also because Sweetgreen wanted to be intentional about how it sourced the beef.

Persons: Nicolas Jammet, “, Mr, Jammet, Sweetgreen Organizations: Sweetgreen

☆ Abortion bans drive away up to half of young talent, new CNBC/Generation Lab youth survey finds
▼ + stars: | 2024-05-07 | by ( Jason Gewirtz | ) www.cnbc.com time to read: +7 min

"These numbers on abortion have gigantic implications for just about every large company in America," said Cyrus Beschloss, the CEO of The Generation Lab. The CNBC/Generation Lab survey was conducted between April 26 and May 2, and has a margin of error +/- 3.1%. Sour on the economyThe survey also found that respondents had a negative opinion of an economy many would consider robust. The survey showed that 54% of respondents feel inflation impacts them the most in "the cost of food." Offered two options of how the government should proceed with TikTok, a large majority — 70% — of survey respondents said it should "allow TikTok to keep operating as usual."

Persons: Elijah Nouvelage, Cyrus Beschloss, they're, Roe, Wade, Jerome Powell, Powell, Delano Saporu, Saporu, Joe Biden, Steve Cohen, workweek, Kennedy, Biden, Donald Trump, Daniel Steinle Organizations: Emory University, AFP, Getty, CNBC, U.S, Federal Reserve, New Street Advisors, Congress, New York Mets, Biden, Trump, Bloomberg Locations: Atlanta , Georgia, USA, America, Washington, U.S, Waukesha, Waukesha , Wisconsin

☆ This college town is experimenting with giving low-income entrepreneurs and gig workers $12,672, no strings attached
▼ + stars: | 2024-05-07 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

Ann Arbor's program, called Guaranteed Income to Grow Ann Arbor, is giving low- and moderate-income residents $528 a month, no strings attached. Over 50 municipalities have tried the GBI model since 2019, offering low-income participants between $100 and $1,000 a month, no strings attached for one to five years. "This pilot will help us learn whether guaranteed income payments can be an effective way to help some entrepreneurs with their business efforts." Chicago announced in April that it restarted its previous GBI program that offered low-income residents $500 a month. A GBI program in Harris County, Texas is being challenged by Attorney General Ken Paxton, who called the program "unconstitutional."

Persons: —, Ann, Ann Arbor's, Monique Gonzalez, Ann Arbor, GBI, Ken Paxton Organizations: Service, Business, Local, Services, Denver, Ann Arbor Area Community Foundation, University of Michigan, Chicago, Republican Locations: Ann Arbor , Michigan, Ann Arbor, San Antonio, Antonio's, Ann, Michigan, Atlanta, Denver, Flint, Harris County , Texas, Iowa , Arizona, South Dakota

☆ Stanley Druckenmiller gives Biden's economic policies an 'F', blames the Fed for reigniting inflation
▼ + stars: | 2024-05-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Reckless government spending enabled by the Federal Reserve is hurting average Americans and endangering President Joe Biden's re-election chances, billionaire investor Stanley Druckenmiller said Tuesday. Everybody seems to get it but Yellen, who just keeps spending and spending," Druckenmiller said. Druckenmiller's comments come with the Fed still trying to bring inflation down, as policymakers have dashed investors' hopes for aggressive interest rate cuts this year. Getting markets enthused about rate reductions was a mistake because it set financial conditions "on fire," he said. Inflation was coming down, financial conditions were tightening," he said.

Persons: Joe Biden's, Stanley Druckenmiller, Janet Yellen, Jerome Powell, Druckenmiller Organizations: Federal Reserve, Duquesne Family Office, Fed

☆ The alleged architect of a multibillion-dollar fraud that shook Wall Street heads to trial
▼ + stars: | 2024-05-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —In the spring of 2021, you might have heard about a small investment firm with an odd name, Archegos, that imploded practically overnight and left big Wall Street banks sweating over billions of dollars in losses. Put simply, prosecutors say Hwang had used financial instruments called “total return swaps” to gain exposure to the stocks without actually owning them. Over the course of a year, prosecutors say, Hwang grew his $1.5 billion portfolio into a $35 billion portfolio. Why the case mattersWhite-collar crime on Wall Street may seem like a distant problem for most Americans, and that may be true. And sometimes, as in the financial crisis of 2008, it was a bit of Wall Street tinkering in derivatives contracts that blew up in banks’ faces and collapsed the housing market.

Persons: CNN Business ’, Bill Hwang, Hwang, Matt Egan, Banks, Archegos, ” Hwang, Hwang didn’t, ”, isn’t, Dennis Kelleher Organizations: CNN Business, New York CNN, Archegos, Management, Viacom, Discovery, Warner Bros, CNN, Term Capital Management, Credit Suisse, Employees, Bloomberg, Tiger Asia Management Locations: New York, Korean, York City, ’

☆ Americans have spent their savings. Economists worry about what comes next
▼ + stars: | 2024-05-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But now that extra spending money is gone, economists are concerned about what comes next. That means many Americans have more debt than savings and suggests “that American households fully spent their pandemic-era savings as of March 2024,” they wrote in a recent report. Consumer spending plays a crucial role in driving economic growth in the United States, and it has shown remarkable strength over the past two years. “A continuing strong labor market could help consumers maintain spending patterns similar to those observed recently, even without pandemic-era savings,” they wrote. What comes next: Disney, Airbnb, Uber, Anheuser-Busch, Tapestry and Dillards all report later this week — investors will look for any comments about how consumer spending, or lack thereof, is altering revenue forecasts for 2024.

Persons: Hamza Abdelrahman, Luiz Edgard Oliveira, ”, Austan Goolsbee, ’ ”, Fitch, Sarah Wyeth, Chris Kempczinski, Abdelrahman, Airbnb, Warren Buffett, Berkshire Hathaway, Greg Abel, Buffett, “, Abel, isn’t, Boeing “, Scott Stocker, Read Organizations: CNN Business, Bell, New York CNN, San Francisco Federal Reserve, Chicago Federal, Society for, ”, Shoppers, Tyson Foods, “, Disney, Anheuser, Busch, Berkshire, International Monetary Fund, Industries, Nvidia, Microsoft, FAA, Boeing, Federal Aviation Administration, CNN Locations: New York, United States, Omaha , Nebraska, Omaha, scamming

☆ As high-paying jobs become harder to get, more Americans are looking to Uber and Lyft for extra income
▼ + stars: | 2024-05-07 | by ( Jacob Zinkula | Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

Gig work, in particular ride-hailing for companies like Uber and Lyft, is getting more popular. AdvertisementMore and more Americans are taking up gig work for companies like Uber and Lyft — in part because some have fewer options to land high-paying jobs. Additionally, BofA found that people with ride-hailing income earned, on average, more a month than those who did delivery gig work. Vacation rental was the highest-earning gig BofA measured, but this is only accessible to people with a home to rent out. While some young people could value the supplementary income gig work can provide — particularly if they're struggling to pay the bills — others may end up disappointed.

Persons: Uber, —, Lyft, BofA, it's, they've, Kate Bahn, X, Gen, they're Organizations: Service, Bank of America, Bank of America Institute, Bureau of Labor Statistics, Institute for Women's, Research, Atlanta Fed, millennials

☆ A Florida Gen Xer who earned over $300,000 secretly working multiple remote jobs shares why he's 'far from rich'
▼ + stars: | 2024-05-07 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

A Florida-based Gen Xer made over $300,000 in 2023 secretly working multiple remote tech jobs. AdvertisementIn 2021, Robert was making roughly $180,000 a year from his tech job, but when his workflow slowed, he feared a layoff may be coming soon. AdvertisementThe Gen Xer, a Florida resident, is among the "overemployed" Americans who are secretly working multiple remote jobs to boost their incomes. Aside from family and travel, Robert said he spends most of his money on food and his home. Are you working multiple remote jobs at the same time and willing to provide details about your pay and schedule?

Persons: Xer, —, Robert, who've, hasn't, it's, He's, he's Organizations: Service, BI, Business Locations: Florida, Yellowstone, Las Vegas

☆ A 78-year-old receptionist fired a month after she was recognized as a top employee wins $78,000 in age-discrimination settlement
▼ + stars: | 2024-05-07 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA retirement community in Columbus, Georgia, fired a 78-year-old receptionist because of her age shortly after she was taken to hospital with high blood pressure, a federal agency says. The worker, who had been a receptionist since 2007, was fired in February 2022, the EEOC said in the lawsuit. She was released two days later, the EEOC said, and doctors later told her it was the result of dehydration. AdvertisementThe Age Discrimination in Employment Act forbids age discrimination against people aged 40 or older, including in hiring and termination decisions.

Persons: —, BrightSpace, didn't, Brian Hendricks Organizations: Service, Retirement, US, Employment, Commission, Business, Employees, Covenant, CBS News, Bureau of Labor Statistics Locations: Columbus , Georgia, Louisiana

☆ A man charged with killing his hospitalized wife told police he couldn't afford her medical bills
▼ + stars: | 2024-05-07 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

A man said he killed his wife because he couldn't pay her medical bills, per a police statement. AdvertisementA man charged with strangling and killing his wife at the hospital said he did it because he couldn't pay her medical bills, according to a detective's probable cause statement. AdvertisementHe admitted to killing his wife by choking her and covering her mouth and nose to keep her from screaming, before leaving the hospital, according to the statement. Medical debt has surged over the last decade, becoming the largest source of debt in collections, per the National Institutes of Health. AdvertisementAs Business Insider previously reported, about a quarter of Gen Z and millennials are skipping rent and mortgage bills to pay off medical debt.

Persons: Ronnie Wiggs, —, Todd Winborn, Winborn, Wiggs, Miranda, he'd, Jean Peters Baker, Gen Organizations: Service, Centerpoint Medical Center, NPR, Family Foundation, National Institutes of Health Locations: Missouri, Independence , Missouri, Jackson County

☆ Biden faces widening partisan split over Israel
▼ + stars: | 2024-05-06 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +17 min

CNN —President Joe Biden is facing more critical moments this week that will test his fraught relationship with his base over Israel’s war in Gaza and potentially widen the partisan split about the Jewish state that has been building for years. Against this backdrop, partisan polarization about Israel among American voters was already widening years before the brutal Hamas attack last October and the devastating Israeli response it triggered. An array of polls this spring show how the war in Gaza has hardened this partisan split. Nearly half of Democrats, but only a little over one-fifth of Republicans in the CBS poll, said the US should pressure Israel to stop the fighting. “Biden has a Democratic caucus that is putting a lot of faith in this process,” she said.

Persons: Joe Biden, Long, Benjamin Netanyahu, Netanyahu, “, ”, Aaron David Miller, Biden, Harry Truman, Lyndon B, Johnson, Jimmy Carter, Bill Clinton, Dwight Eisenhower, Richard Nixon, Ronald Reagan, George H.W, Bush, Reagan, George W, Donald Trump, Clinton, Barack Obama, Republicans —, Obama, Israel, Biden —, Gallup, Trump, That’s, Chuck Schumer, Mike Johnson, Biden’s, Jamaal Bowman, Cori Bush, Waleed Shahid, Shahid, David, it’s Goliath, David ”, Miller, “ Biden, ’ ”, Ben Rhodes, ” Biden, “ We’re, Saudi Arabia — “, Mark Mellman, Schumer, Sen, Bernie Sanders, Israel’s, Chris Murphy of, Chris Van Hollen, Chris Coons, Tim Kaine, Virginia, Van Hollen, Amanda Klasing, — Organizations: CNN, Israel, Republican, Democratic, Gallup Organization, Carnegie Endowment, International Peace, Holocaust Memorial, GOP, Whites, Republican Party, Republicans, Gallup, Trump, Chicago Council, Global Affairs, Quinnipiac University, CBS, Liberal, American Israel Public Affairs Committee, AIPAC, National Security Council, Amnesty International, Amnesty Locations: Gaza, Israel, United States, Iran, Quinnipiac, Washington, New York, Missouri, Yom Kippur, Saudi Arabia, Sens, Chris Murphy of Connecticut, Maryland, Delaware, Rafah

☆ U.S. wins global leadership approval over China when a Democrat is president, Gallup analysis shows
▼ + stars: | 2024-05-06 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Saul Loeb | Afp | Getty ImagesMost countries prefer alignment with the U.S. over China when the White House is occupied by a Democrat, according to Gallup poll data going back to 2007. "Significantly more countries seem to prefer U.S. leadership over Chinese leadership, at least under Democratic administrations," Gallup said in its report released Monday, adding that a Republican executive comes with a "net approval disadvantage." According to Gallup, the "bounce-back" under the Biden administration suggests that the U.S.'s net approval advantage over China is resilient, especially when accounting for more strongly aligned groups. China's favorability peaked in 2007 as it emerged on the global stage, but increased familiarity with Beijing has not boosted its appeal, Gallup said. Meanwhile, U.S. leadership has enjoyed a general net approval rate under the Biden and Obama administrations, compared with net disapproval rates under the Trump and last two years of the Bush leadership, the report showed.

Persons: Xi Jinping, Joe Biden, Saul Loeb, Gallup, Trump, George Bush, Barack Obama, Biden, Obama, Bush Organizations: Afp, Getty, U.S, Democratic, Republican, Gallup, Biden, Trump, Pew Research Locations: Nusa Dua, Indonesian, Bali, China, Beijing, Trump

A U.S. Army soldier has been detained by Russian authorities in the port city Vladivostok on charges of criminal misconduct, the State and Defense Departments said on Monday, adding what is likely to be another complication in the contentious relationship between Moscow and Washington. A military official identified the soldier as Staff Sgt. He was apprehended on May 2, and Russia notified the State Department of the soldier’s “criminal detention” in accordance with international agreements between the two nations. “The Army notified his family, and the U.S. Department of State is providing appropriate consular support to the soldier in Russia,” Cynthia O. Smith, an Army spokeswoman, said in a statement. A State Department official reiterated the U.S. government’s warning for Americans not to travel to Russia.

Persons: Gordon Black, ” Cynthia O, Smith, Sergeant Black Organizations: U.S . Army, State and Defense, State Department of, Army, U.S . Department of State, State Department, NBC News Locations: Vladivostok, Moscow, Washington, Fort Cavazos, Texas, South Korea, Russia

☆ A 62-year-old employed 'peak boomer' in California makes too much for affordable housing but lives in her car: 'I'll work until I drop'
▼ + stars: | 2024-05-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Cheryl Simmons, a parking lot attendant, lives in her car but makes too much for affordable housing. She lives in her car, even though she makes about $42,000 a year. She makes slightly too much for a single-room occupancy unit in affordable housing and exceeds the income limit for food stamps and other government assistance. AdvertisementSimmons is one of the 30 million "peak boomers" entering retirement age in the next few years, but most are not financially prepared to retire. A new report from the Alliance for Lifetime Income's Retirement Income Institute found that 52.5% of peak boomers have below $250,000 in assets.

Persons: Cheryl Simmons, Simmons, —, she'll, she's, ALICE —, ALICE, it's Organizations: Service, Alliance, Lifetime, Assistance, Food Locations: San Diego, Albuquerque, California, Texas

☆ Americans will lose full Social Security benefits in 11 years, according to the program's trustees — a year later than expected
▼ + stars: | 2024-05-06 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Full Social Security benefits are expected to run out in 2035, per the program's trustees. AdvertisementAs more Americans fear being unprepared for retirement — and rely solely on Social Security — those full benefits might not be long-lived. Meanwhile, among the income that typical retirees do receive, just under 80% see income from Social Security. The latest estimates on Social Security also come as the US economy braces for a "peak boomer" wave of new retirees. That's the biggest group of boomers retiring yet, and, per that analysis, many will end up having to rely on Social Security benefits to stay afloat.

Persons: That's, —, William Arnone, Martin O'Malley, Kevin Hern Organizations: Security, Social Security, Service, National Academy of Social Insurance, Insurance Trust, Disability Insurance Fund, Social, Survey, Alliance, Lifetime, GOP, Republican

☆ The Fed will spark an economic crash by delaying rate cuts, State Street equity research chief says
▼ + stars: | 2024-05-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewThe economy is bound to enter a downturn if the Federal Reserve delays cutting interest rates, according to Marija Veitmane, the head of equity research at State Street Global Markets. The Wall Street vet warned of an impending economic crash if the Fed doesn't ease monetary policy soon. Higher interest rates are already taking a toll on economic strength, she noted, even if growth numbers looked fine last quarter. But the economy is already showing signs of strain from the burden of elevated interest rates, Veitmane warned. Markets are largely expecting the Fed to keep interest rates level at its next policy meeting.

Persons: —, Marija Veitmane, Veitmane Organizations: Service, Federal, Street Global Markets, Business, CNBC, AAA

☆ Citigroup CEO Jane Fraser says low-income consumers have turned far more cautious with spending
▼ + stars: | 2024-05-06 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Citigroup CEO Jane Fraser said Monday that consumer behavior has diverged as inflation for goods and services makes life harder for many Americans. Fraser, who leads one of the largest U.S. credit card issuers, said she is seeing a "K-shaped consumer." "We're seeing a much more cautious low-income consumer," Fraser said. That means Americans must live with higher rates for credit card debt, auto loans and mortgages for longer. "It's hard to get a soft landing," the CEO added, using a term for when higher rates reduce inflation without triggering an economic recession.

Persons: Jane Fraser, Fraser, CNBC's Sara Eisen Organizations: Citigroup, Federal Reserve

☆ Has the US cracked the code on avoiding recessions? It would be great news for your job security and stock portfolio.
▼ + stars: | 2024-05-06 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +10 min

But some economists have argued that flawed historical economic data puts this claim in question. The further back you go — the NBER data goes to about 1850 — the more common recessions were. He said the NBER's pre-1914 recession data, in particular, is "very poor," and that only economic data collected after World War II is of good quality. "So the growing share of services also means you're going to have more stable economic growth." AdvertisementTo be sure, while a stable economy has its benefits, it's not the only indicator of a healthy economy.

Persons: —, they'll, haven't, George Selgin, what's, NBER, Selgin, Joseph H, Davis, Satyam Panday, Panday, it's, they've Organizations: Service, National Bureau of Economic Research, Cato Institute, of Labor Statistics didn't, US, Vanguard, US Department of Agriculture, Satyam, Federal Reserve, Fed

☆ More Americans are feeling a six-figure salary can't afford them a middle-class lifestyle
▼ + stars: | 2024-05-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at people who feel like a middle-class salary doesn't equal a middle-class lifestyle . The big storyMiddle-class meltdownMichael Raines"Lately, I'm getting the feeling that I came in at the end. AdvertisementBusiness Insider's Jennifer Sor has a report on the people making over six figures who think the middle-class lifestyle they dreamed of isn't realistic for their salary . AdvertisementMarco Bottigelli/Getty, Yevgen Romanenko/Getty, Maskot/Getty, Tyler Le/BILet's address the elephant in the room: A six-figure salary is still a lot of money. Words like "AI Infrastructure" and "generative AI" point to more money heading to Nvidia for its popular H100 GPU chip.

Persons: —, Michael Raines, I'm, It's, Tony Soprano bemoaned, Jennifer Sor, Vincent, it's, Marco Bottigelli, Yevgen Romanenko, Tyler Le, Jenny Chang, Rodriguez, Warren Buffett, Buffett, Shruti Gandhi, Dalton Caldwell, James Cham, Hemant Taneja, Jenny Lefcourt, Nick Little, Sam Altman, Alice Zhang, Serena Williams, Jack Dorsey, Dorsey, — Dorsey, Bluesky, Alyssa Powell, Katie Notopoulos, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, Pew Research Center, nab, Adobe, Wall, Hamptons, Nvidia, Genomics, Serena Ventures, Fortune, Starbucks Locations: New York, Zillow, Santa Barbara , California, Berkshire, Bluesky, London, Chicago

☆ New poll reveals a major warning sign for Biden and Democrats in key down-ballot races
▼ + stars: | 2024-05-06 | by ( John L. Dorman | ) www.businessinsider.com time to read: +1 min

Ahead of November, young Black voters are indicating that their turnout could fall below 2020 levels. A Washington Post-Ipsos poll revealed that only 41% of young Black voters said they were certain to vote this year. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: —, Joe Biden, buoying, Biden Organizations: Washington, Black, Service, White, Democratic, Pew Research, Business Locations: Gaza

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