Biden plan could allow new offshore drilling in Gulf of Mexico

His campaign promise to end fossil fuel development on public lands was thwarted by U.S. courts, high gas prices and Russia’s domination of Western European energy.

Electric vehicle battery myths v. facts: The debate over ‘green’

As demand for electric vehicles grows, innovation follows and companies are looking at more environmentally friendly options when it comes to the controversial manufacturing of EV batteries.

US importing baby formula from Mexico to ease shortage

Trucks contracted by the Department of Health and Human Services will drive about 1 million pounds of Gerber Good Start Gentle infant formula from a Nestlé plant to U.S. retailers, the White House said.

Wheat and barley shortage: How Russia-Ukraine war triggered a global food crisis

Together, Russia and Ukraine export nearly a third of the world’s wheat and barley, more than 70% of its sunflower oil and are big suppliers of corn.

City of Austin votes to raise minimum wage to $22 an hour for city employees

Several employees testified during the June 16 council meeting arguing a higher wage is needed due to inflation and it would allow them to earn a livable wage in Austin.

Seniors take jobs as lifeguards as YMCA struggles to find workers

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 US mortgage rates hit 5.78%, highest level since 2008

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.

Fed raises key interest rate in largest hike since 1994

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.

Biden tells oil refiners: Produce more gas and diesel, fewer profits

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.

Americans feeling the stress from inflation

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.

What makes a bear market? Wall Street term explained

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.