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

The best and worst times to buy a car amid EV trends and supply-chain woes

If you’re planning to buy a car — new, used, electric, or hybrid — here are some things to consider before making your purchase, according to a car-buying expert.

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.

Delaware officials plan for $300 payments to taxpayers

Delaware officials say they are planning to send $300 in direct payments to taxpayers in the state as part of a plan for using a budget surplus when inflation is rising and gas prices are high.

What is shrinkflation? How companies hide inflation without increasing prices

If you haven’t seen a price increase on a product or service you purchased recently, chances are that the company may still be passing along the rising costs to you without the obvious price hikes.

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.

US retail spending slows as inflation starts to bite

After beginning the year in a buying mood, Americans slowed their spending in February on gadgets, home furnishings and other discretionary items as higher prices for food, gasoline, and shelter are taking a bigger bite out of their wallet.

Puerto Rico exits bankruptcy after grueling debt negotiation

Puerto Rico’s government formally exited bankruptcy Tuesday, completing the largest public debt restructuring in U.S. history after announcing nearly seven years ago that it was unable to pay its more than $70 billion debt.