USA finance and payments live updates: Bitcoin drops, $400 monthly check car owners, Child Tax Credit 2022, S. – AS USA

Inflation is the biggest issue facing the nation, public poll finds, as annualised rate reaches a 40-year high
– Average price of a gallon of gasoline rises to new record high of $4.523, while diesel reaches $5.573
– Sports sponsors insulate themselves from the cryptocurrency collapse
– UST and Luna cryptocurrencies lose their market value: what is causing the price to fall?
– Parents of infants subject to limits on baby formula after national shortages
– A look at the housing market: why supply is increasing as interest rates rise
Can my wife get Social Security if I am disabled?
– Can you collect unemployment benefits and Social Security disability at the same time?
How large could the 2023 Social Security COLA increase be?
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Inflation crisis USA: what products have decreased in price?
Cryptocrash: are sports sponsorships in danger after cryptocurrencies lose value?
Cryptocurrency price: why has Luna crashed so much?
Social Security US: can my wife get Social Security if I am disabled?
Can you collect unemployment benefits and social security disability at the same time?
Why is the housing supply improving while interest rates are higher?
Social Security: How large could the 2023 COLA increase be?
$400 check for car owners: what does the proposal consist of and who is in favor of its approval?
Will US home prices drop in 2022 according to experts?

"This starts with the Federal Reserve, which plays a primary role in fighting inflation in our country. I thank the Senate for confirming Dr. Lisa Cook to the Board of Governors last night, and urge the Senate to confirm my remaining nominees without delay. While I will never interfere with the Fed’s independence, I believe we have built a strong economy and a strong labor market, and I agree with what Chairman Powell said last week that the number one threat to that strength – is inflation. I am confident the Fed will do its job with that in mind."
Study points to inflaiton as number one concern of American people
The sky-high rate of inflation is causing major problems for people all across the United States and experts have warned that there is no end in sight in the short-term. As the price of gasoline once again reaches a new record high, a study from Pew Research has found that inflation is currently the biggest issue facing Americans, with 70% naming it as a major concern when polled. That includes 84% of Republicans. 
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Does working after one’s full retirement age increase Social Security benefits?
The age at which a worker can retire and receive their maximum Social Security benefit amount depends on the year they were born. At sixty-two, Social Security benefits can be claimed, but it is not until almost a decade later that the maximum benefit becomes available.
Read our full coverage for more details on how to ensure you receive the maximum possible benefit for your income and age.
Ben Bernanke speaks to future of cryptocurrency as prices tank
Former Fed Chairman Ben Bernanke sat down with CNBC to discuss the collapse in the crypto-currency market. One issue that the crypto industry has faced is identifying a long-term use case for their product. At one point, many thought that cryptos and digital wallets could be used for those who send remittances to families or friends in other countries. However, many of these recipients need cash, not value or money stored in a digital wallet.
The high number of competitors has led many to speculate as to which will make it through this crisis. At this point, no one knows, and represents a very similar situation to the dot com bubble in the early 2000s. He does not see that Bitcoin as the future of money and thinks that it is too unreliable to take the place of the currencies we use now. Another problem for the currency, for Bernanke, is the fact that one of the major places Bitcoin is used is on the dark web or as a mechanism to pay ransom.
Bernanke also spoke about what the Federal Reserve will have to do to bring down prices. By raising rates demand will slow, but he believes with current Chairmen Powell who thinks the economy is strong enough to withstand such decreases in demand. Bernanke does see that a stall or slowing in the economy could come this year, but does not currently believe that a recession is emminante.
Cryptocurrency price: why has Luna crashed so much?
After enjoying an extremely profitable 2020 and 2021, cryptocurrency investors have felt a harsh backlash this year as a number of widely-held coins have plummeted in value.
Last week we saw perhaps the most abrupt of all the falls when the value of Luna cryptocurrency fell from a combined $20 billion to close to zero in just a few days. At one point the coin was listed at $0.00 on Binance, the most widely-used cryptocurrency exchange in the world. Read more on the collapse.
The Bureau of Labor Statistics has reported that in 2021, forty-seven out of eighty-six sector tracked saw an increase in productivity.
Sectors that saw the greatest growth over 2020 were the railroad rolling stock industry (20.6 percent).
Within the mining sector specifically, four out of five industries saw increase in productivity, with coal mining seeing 18.3 percent bump.
The largest decreases were seen in the tabacco and beverage sector.
Gas prices inch closer to $6 a gallon in San Diego
After about a month of relief, gas prices in San Diego country hit $5.96 this week, with many drivers now calling on leaders to reduce prices. The prices in the country have risen the last thirteen days, with the current prices clocking in as the highest since 1 April.
In Los Angeles county the price is already over $6 a gallon and last week the govenor, Gavin Newsom, announced a proposal to send gas rebates to househodls across the state.
Jeff Bezos takes aim at President Biden
The White House on Monday fired back at criticism from Amazon founder Jeff Bezos over its economic policies. President Biden routinely singles out Amazon for not paying federal taxes in speeches calling for higher tax rates on corporations and the wealthiest Americans. 
Biden met labour leaders who were organising to form the first union in an Amazon warehouse earlier this month.
The founder/editor-in-chief at LeverNews, David Sirota, posted earlier about the seemingly insane contradiction taking place at the moment, commenting that it is "totally wild" how some people are pushing that the money coming out of circulation to combat inflation "only applies to cutting the child tax credit, not ending corporate tax loopholes and business tax subsidies."
Social Security US: can my wife get Social Security if I am disabled?
The Social Security Administration (SSA) is best known for the benefits offered to retired workers in the United States, but the agency provides a variety of other programs to offer financial support to vulnerable Americans.
Social Security Disability Insurance (SSDI) pays benefits to you and certain family members if you are insured, meaning that you have contributed enough to the SSA during your time in work. Read our full coverage for more on which federal government programs can be claimed simultaneously.

Also today, the administration announced an Action Plan to Ease the Burden of Housing Costs, taking a series of actions to address one of the largest items in a typical family’s budget and one of the largest drivers of inflation in our economy.
As President, Biden has said tackling inflation is his top economic priority.  The best thing we can do to ease the burden of housing costs is to boost the supply of quality housing, including building more new homes and preserving existing federal support and market-rate affordable housing.
Today’s action plan includes legislative and administration — administrative actions that will help close America’s housing supply shortfalls in five years, starting with creation — the creation of preservation of hundreds of thousands of affordable housing units in the next three years.
Hello and welcome to AS USA's Financial News live blog.
From Washington to Wall Street we will be bringing you all the investment and monetary news you need.
Still haven't received your tax refund? Do not worry, we have you covered on how to contact the IRS.
Cryptocurrency is seeing one of its largest decreases in years, with many long-term investors exiting the market, what does this mean for Bitcoin?
Gas prices are up around the country, a sign that while inflation began to slow in April, numbers could spike again in May.
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