Savers are about to learn one painful and one surprising lesson about interest rates and banks. First, just because the Federal Reserve is raising rates doesn’t mean the rate investors earn on their cash will rise as much — if at all. In fact, the financial repression in the form of zero rates suffered for more than a dozen ...

  By most measures, the US economy is doing well — but not when it comes to inflation. Consumer prices rose 8.5% in the year to March. Wages are rising too, though not fast enough to keep up. That means financial stress for many families, especially those on fixed incomes or with meager savings. With midterm elections approaching, President Joe ...

Bloomberg US airlines are facing a pilot shortage that’s complicating efforts to ramp up flights, forcing them to step up training programs, recruit foreign pilots and even replace planes with buses. The industry needs to hire an average of 14,500 new pilots each year until 2030, according to federal labour statistics. But carriers say there’s no way they can bring ...