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Bank of America boosts minimum wage to $23, but when will U.S.?

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Bank of America (BAC) has announced its plans to raise the company's minimum hourly wage to $23 in October. The objective is to achieve a minimum employee wage of $25 by the year 2025. Currently, the federal minimum wage stands at just $7.25, though Senators have proposed a bill that would gradually raise the minimum wage to $11 over the next four years. Yahoo Finance's Rachelle Akuffo speaks with Public Policy Professor Betsey Stevenson of the University of Michigan's Ford School to discuss the big difference between federal and corporate minimum wages, and how factors like inflation could impact wages. 'While legally you can get away with paying somebody $7.25 an hour,' Stevenson says, 'you're gonna have a very hard time finding very many people who are gonna wanna do work for you at $7.25 an hour.' For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Discover a world of exciting games, from heart-pumping action to brain-teasing puzzles. Get the latest versions of the top games in 2023.SPUTNIKVladimir Putin’s backyard just got a whole lot smaller.

A year and a half after the Russian president’s rash, illegal, blundering invasion of Ukraine, Russian peacekeepers have been forced to admit defeat in the faraway enclave of Nagorno-Karabakh, handing control back to Azerbaijan after a 24-hour military offensive, which killed a senior Russian officer.

 

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