GO in the Know: Stagflation, Child Tax Credit Update & Top Financial News for June 8

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It’s National Best Friends Day, and everyone knows there’s no better way to greet your best friend than by bringing them the lowdown on today’s top financial stories. We’re happy to help.

The Big Lead: Threat of Stagflation

The World Bank has significantly slashed its global growth forecast, arguing that following the damage done by the pandemic, the war in Ukraine war has magnified the slowdown in the global economy — which could be entering a protracted period of feeble growth and elevated inflation (stagflation).

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Business Spotlight: Sam’s Club

Sam’s Club announced a partnership with autonomous truck company Gatik to deliver paper goods in the Dallas-Fort Worth region. The new technology could help address a slew of issues, including driver shortages and soaring gas prices.

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Well That’s Interesting: Student Loan Forgiveness

Student loan borrowers awaiting President Biden’s decision on whether to forgive their debt might have to cool their heels for another couple months. It could be late summer before the White House issues an announcement — if one is forthcoming at all.

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Bonus: Child Tax Credit Update

There are now 10 states currently offering state-level child tax credits, with Vermont being the latest to join the list. See if your state is included and check out details provided by National Conference of State Legislatures data.

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ICYMI: Yesterday’s GO in the Know

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