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AM Business Notebook

>>Inflation Rate Down To 4%

(Undated)  --  Inflation is slowing.  May's inflation rate was at its lowest annual rate in more than two years.  The Labor Department says the consumer price index jumped just a tenth of a percent for the month, bringing the annual rate down to four percent.  It was the smallest increase since March 2021, when inflation started to reach historic levels.  

 

>>NY Fed Survey Shows Inflation Outlook Hits 2-Year Low

(New York, NY)  --  Americans are feeling more optimistic that inflation is on the way down.  The New York Federal Reserve's latest survey of consumer expectations showed the inflation outlook hit a two-year low in May.  It fell three-tenths of a percent to a four-point-one percent rate.  The survey also found household finances remain solid with spending expected to rise about five-and-a-half percent over the next year.

 

>>Student Loan Payments Resume This Fall

(Washington, DC)  --  Student loan payments are due starting October. The Department of Education said the pandemic pause on monthly federal student loan bills will resume this year. The pause began in March 2020 and the Biden administration has previously said it would end either 60 days after June 30th or 60 days after the Supreme Court rules on the separate student loan forgiveness program. The Department clarified that student loan interest would resume on September 1st with payments due beginning in October. 

 

>>Report: AI Researchers Risking Mental Health

(Washington, DC)  --  Artificial intelligence researchers are risking their mental and emotional health. That's according to the American Psychological Association, which says researchers feel socially disconnected at work because of the sudden changes of working with AI. It also found employees working with AI are more likely to suffer from insomnia and alcoholism. Researchers say managers need to help their employees feel less lonely and should be cautious about having too much AI systems in the office. 

 

>>Grubhub Trims Corporate Workforce

(Chicago, IL)  --  Grubhub is downsizing its corporate staff.  The food delivery company is laying off 15 percent of its corporate workforce or about 400 employees.  Grubhub's CEO announced the move in a message to employees Monday citing a need to remain competitive in the marketplace.

 

>>Powerball Jackpot Jumps Again 

(Undated)  --  The Powerball jackpot is soaring, with no grand prize winner in Monday's drawing.  It's now up to 340-million dollars with the next chance to become an overnight multi-millionaire on Wednesday.  As for Tuesday night's Mega Millions drawing, that's worth 260-million.      

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