Economy

During the summer, it's typical to see a teen or college student working a summer job as a lifeguard, sitting in a tall chair at your pool or beach. However, as the YMCA struggles to find workers, retired seniors are showing up to fill shifts.

Average long-term U.S. mortgage rates had their biggest one-week jump in 35 years with the Federal Reserve raising its key rate in a bid to tame inflation.

The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades.

In a draft letter to refiners, Biden said their profits have tripled during a time of war between Russia and Ukraine as Americans struggle with record-high gas prices.

Ask pretty much anyone how they feel about rising gas and food prices, and they won’t have nice things to say. Fox 9 asked a local financial expert and a local psychologist their best tips to relieve the current financial stress and make their dollars stretch further.

Wall Street is back in the claws of a bear market amid worries about inflation and higher interest rates. Here are answers to some common questions about bear markets.

Bitcoin and other cryptocurrencies were collapsing in price Monday, after the major crypto lender Celsius halted all withdrawals citing “extreme market conditions."

The average price at the pump is nearly $2 higher than it was one year ago.

The national average price has jumped 19 cents in just the past week, and it is up $1.93 from this time last year.

In President Joe Biden’s estimation, the U.S. is in a strong position to overcome the worst inflation in more than 40 years. But so far, inflation just keeps getting the better of the U.S. economy and of the Biden administration.

In April alone, AAA received 50,787 calls from stranded drivers.

Consumer prices surged 8.6% last month from 12 months earlier, faster than April’s year-over-year surge of 8.3%, the Labor Department said Friday.

Shrinkflation isn’t new, experts say. But it increases during times of high inflation as companies grapple with high costs for ingredients, packaging, labor, and transportation.

Google employees, contractors protest return-to-work requirement wiping out paycheck with costly commute.

Social Security retirees got a 5.9% boost in benefits this year, the biggest cost-of-living adjustment in 39 years.

U.S. employers added a healthy 390,000 jobs in May 2022, extending a streak of solid hiring that has bolstered an economy under pressure from high inflation and interest rates.

The first of the four new new fulfillment centers will open this summer in Illinois. These centers will provide faster shipping of items to customers.

With gas prices exceeding $4 nationwide, one expert believes there’s a way you can save a few dollars at the pump by changing your driving habits.