US economy shrank by 1.4% in Q1 despite solid consumer spending

Despite the weak showing, most economists expect a rebound in the April-June quarter as solid hiring and wage gains sustain growth.

Why Biden is waiving rule on higher levels of ethanol in gas this summer

President Joe Biden says his administration will suspend a federal rule that bars higher levels of ethanol in gasoline during the summer.

Deutsche Bank predicts US recession in 2023 due to Fed rate hikes

Deutsche Bank is the first major financial institution to predict a recession due to rising inflation and the Federal Reserve's hawkish plan to tame it.

Biden ‘has not ruled out’ canceling student loan debts, White House says

Press Secretary Jen Psaki made the comment the same day the Biden administration announced plans to freeze federal student loan payments through Aug. 31

Pilot shortage: 'When there is demand for pilots, that demand can’t get filled instantly'

To fly for an airline, usually, a minimum of 1,500 hours are required. It’s also not unreasonable to see total costs soar up to $100,000 to $200,000 to pay for all the required certificates and ratings.

Corn could be the answer to high gas prices

Under the Home Front Energy Independence Act, ethanol fuel would be produced and sold year-round in the U.S. instead of only during the summer months. The proposal aims to further decrease dependence on Russian petroleum exports over its war on Ukraine.

Federal Reserve hikes interest rate to fight inflation, more to come

The Federal Reserve launched a high-risk effort to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling potentially up to seven rate hikes this year.

Canned pet food shortage continues amid supply chain woes

The canned pet food industry continues to feel the burn as supply chain woes and increases in price leave many pet owners improvising their dog or cat’s next meal.

US inflation soared 7.9% in past year, a fresh 40-year high

Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come.

Biden to sign order mandating study of cryptocurrency as its use explodes

The Biden administration views the explosive popularity of cryptocurrency as a call for acting with urgency to look at the risks and benefits of digital assets.

Interest rates could increase more than traditional quarter-point, US Fed governor says

Federal Reserve Governor Michelle Bowman says she's open to lifting interest rates by more than the traditional quarter-point at the central bank’s next meeting in March.