US Financial News: Social Security, SNAP, and Inflation Updates.

The US Department of Justice has compensated victims of a Walmart gift card scam with nearly $4 million. The New York City Rent Guidelines Board has approved a 3% rent hike for rent-stabilized apartments. Mortgage rates have slightly dropped, but middle-income homebuyers still face housing shortages. The Supplemental Nutrition Assistance Program (SNAP) has seen an increase in participants since the pandemic. Many Americans are not prepared for retirement expenses. Federal Reserve Chair Jerome Powell has stated that interest rates are likely to continue increasing this year.