– Tesla boss Elon Musk backtracks on job cuts after saying that 10% of workers would be laid off
–  Federal Reserve expected to address 40-year-highs in inflation with interest rate hikes 
– North Carolina lawmakers propose a $200 tax refund for drivers
– US gas price continued climbing on Monday, now over $4.86 per gallon on average
Unemployment falls to lowest rate since 1969, May jobs report shows
Treasury Secretary Yellen says she was "wrong" about the path of inflation
– A few helpful tips for saving money
– California State Disability Insurance scheme: the lowdown
– Why are mortgage rates beginning to decrease in the US?
Pennsylvania governor wants to send residents $2,000 stimulus check
North Carolina Democrats propose $200 gas tax rebate
More AS USA related articles:
US Unemployment drops to lowest level since 1969
Gas tax rebate: North Carolina lawmakers propose a $200 refund for drivers
How can I save money? five clever money hacks that will increase your savings
Why does Elon Musk reportedly want to lay off 10% of Tesla employees?
Why are mortgage rates beginning to decrease in the US?
What are the differences between the five types of mortgages?
Is Medicare considered an entitlement program?
US Treasury Secretary Janet Yellen admits inflation forecast errors
One in four dollars lost to scammers was paid in cryptocurrencies
Federal Trade Commission released its Consumer Protection Data Spotlight report which found that consumers lost over $1 billion to fraud involving cryptocurrencies from January 2021 through March 2022.
Most of the cryptocurrency losses consumers reported,  a total of $575 million, involved bogus cryptocurrency investment opportunities. 
Nearly half of consumers who reported a cryptocurrency related scam said it started with an ad, post or message on a social media platform.

"Today, thanks to the economic plan and the vaccination plan that my administration put into action, America has achieved the most robust recovery in modern history just two years removed from the worst economic crisis since the Great Depression. 
The job market is the strongest it’s been since just after World War Two.  We’ve got more evidence of that today.  We learned that in May the economy added another 390,000 new jobs, bringing the total since I took office to 8.7 million new jobs — an all-time record."
How can I save money? five clever money hacks that will increase your savings
The past couple years have seen a great upheaval for many Americans from the near collapse of the US economy to the fastest recovery from a recession in history. The rapid rebound though has brought with it inflation not seen in four decades putting new strain on household finances.
With prices rising on just about everything it can seem impossible to set aside money to save for the future especially considering a new report that found 61 percent of respondents said they had little to nothing left over at the end of the month in April 2022. Here’s a look at what you can do to start saving today…
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Gasoline prices could reach $5.50 per gallon on average
The high cost of gasoline and other motor fuels is causing major concern for motorists and consumers across the country after months of continual increases. The national average price of a gallon of gasoline has reached $4.865, an increase of more than $1.80 on the same point last year. One expert warned that the price could go as high as $5.50 per gallon in the coming months. 
Sen. Sanders calls for Social Security expansion
Progressive Senator Bernie Sanders has reiterated his commitment to a major expansion to Social Security. The SSA oversees a variety of financial support programs which cover an estimated 70 million people in the United States. However the SSA is projected to run out of money to fund the programs in their entirely in roughly 12 years, which could see recipients lose out on their full entitlement unless new funding legislation is passed. 
US Unemployment drops to lowest level since 1969
On Thursday, the Labor Department released data on weekly unemployment claims, the most timely data on the economy’s health, which showed new claims unexpectedly fell last week. The following day a report from the US Bureau of Labor Statistics showed strong job growth continued in May.
Despite the high inflation and price rises, from an employment standpoint the Biden administration appears to be meeting targets on the jobs market recovery. 
Read more
Gas prices expected to remain high for the rest of the year
The sky-high price of gasoline has caused major worries for consumers in recent months and the White House is warning that they could stay high for the rest of 2022. Energy Secretary Jennifer Granholm speaks to ABC News' Alex Presha at the Strategic Petroleum Reserve, reflecting on the White House's aim to release additional reserves of oil and bring about a clean energy transition to help lower gas prices.
What is the average monthly Social Security disability benefit?
Just over 12 percent of 70 million beneficiaries of Social Security Administration (SSA) receive payments due to a disability. This equates to over 8 million Americans needing support.
While Supplemental Security Income is set by the federal government with variations at the state level, Social Security disability payments (SSDI) vary for each individual and are calculated in a similar fashion to retirement benefits. So what is the average Social Security payment for disabled Americans?
Read more

"A new ABC News/Ipsos poll finds that President Joe Biden’s approval rating on a number of key issues—including economic recovery, inflation, and gas prices—remains underwater with the American public, as a majority disapprove of the job the president is doing. "

"Only a quarter approve of Biden’s handling of inflation (28%) and gas prices (27%). Notably, Biden only earns a bare majority of Democrats’ support on both of these issues: 56% of Democrats approve of the job he’s doing on inflation, and 51% feel the same about gas prices."
US Economy: Experts fear United States could enter a recession if spending continues to slow
Despite positive unemployment figures and the end of nearly every pandemic restriction, the US economy could be headed for the rocks. Inflation, currently standing at 8.3 percent year-on-year, is threatening to pull the plug on economic progress. Prices for some of the most neccessary commodities are at record levels, such as fuel and grain, without a clear end date for when things may get better.
Read more
What next for Social Security and Medicare?
Annual government reports by trustees of the Social Security and Medicare programs released on Thursday said that their financial health improved slightly in 2021 on the back of a strong post-pandemic economic recovery. However, the long-term solvency of the programs is still uncertain unless lawmakers take steps to shore up long-term financing shortfalls.
“Taking action sooner rather than later will allow consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare.,”  the trustees said.
Gas prices expected to exceed $5 per gallon
Over the weekend AAA found that the average price of a gallon of gasoline in the United States had reached $4.85, once again breaking the national record. Diesel prices are also at a record high, affecting industries and businesses, with the cost expected to be passed on to consumers. GasBuddy’s Patrick De Haan thinks that the price rises will continue for as long as the demand for gas exceeds the oil refineries' supply. 
Are you missing a tax refund payment from the IRS?
As of 20 May, the IRS had sent out over 96 million tax refunds for 2021 fiscal declarations. So far, the average refund in 2022 was a little over $200 more than last year. Those who are looking for past refunds can use the IRS's online tool "Where's My Refund?" to consult the status from the past two years.
Is Elon Musk going to sack 10% of Tesla staff?
In an email to company executives last Thursday, Elon Musk said that he had a "super bad feeling" about the US economy necessitating job cuts. In a separate email on Friday he informed workers that the electric car maker was "overstaffed in many areas" and Tesla would reduce salaried headcount by 10 percent.
However Musk reversed course on Saturday, tweeting that "total headcount will increase, but salaried should be fairly flat." The company and its subsidiaries employed around 100,000 people at the end of 2021.
Is the Biden administration to blame for high inflation rates?
Speaking to CNN over the weekend, Secretary of Commerce Gina Raimondo dismissed claims that the Biden administration has been caught flat footed in response to economic crises.
Raimondo said: "Yes, inflation is a problem. In no way do i want to minimize that. The Fed is independent, they are taking action and you're already starting to see that. But fundamentally what we have here is a robust economic recovery. And I think that's in large part due to the President's leadership."
Good morning and welcome to AS USA
Welcome to our dedicated financial news live feed, bringing you all the latest information from the United States on the continued high price rises. President Biden is tasked with bringing down the record-high cost of gasoline. 
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