GO in the Know: Stamps Going Up, JetBlue Gets Hostile & Top Financial News for May 16

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Happy Monday, everyone. We’re back with the lowdown on the most important financial stories of the day. Check ’em out.

The Big Lead: USPS To Hike Stamp Prices

The price of a U.S. First-Class Mail stamp is expected to increase again — from 58 cents to 60 cents beginning July 10 — and the United States Postal Service (USPS) is hinting at more hikes on the way.

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Business Spotlight: JetBlue

Discount airline JetBlue will try to navigate its way around the usual buyout rules by launching a hostile bid to take over rival Spirit Airlines.

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Interesting: Social Security Payments Need To Be $540 More Today To Equal Value in 2000

This year’s Social Security cost of living adjustment (COLA) isn’t nearly enough to help boost seniors’ purchasing power. In fact, according to new data, high inflation has caused Social Security benefits to lose 40% of their buying power since the year 2000.

Read the full story here

Bonus: 6 Crypto Myths Debunked

On the heels of last week’s so-called crypto crash, GOBankingRates breaks down some of the major myths about cryptocurrency for those considering jumping into the market.

Make Your Money Work for You

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More From GOBankingRates

Best Bank Accounts of July 2022

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