A group Twitter vendors have filed a class action lawsuit against the company for unpaid bills ranging from $40,000 to $140,000. The group includes consulting, public relations and captioning service firms. In the lawsuit filed in California, the companies referred to themselves as “small businesses without the resources, time, and money to litigate these claims on their own.” CEO Elon Musk notably has slashed costs across the company in an effort to get the social media platform on firmer financial footing.
Chair Jerome Powell says the Federal Reserve only expects to cut rates once in 2024. But at least, as one economist says, ‘rate hikes are off the table.’
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
Markets soared in May after Nvidia’s Q1 success, but concerns over slowing consumer spending, especially among middle—and lower-income groups, loom large.
