AAA Provides Insight on Record Gas Prices: What Consumers Can Expect

Economy

For eleven consecutive days, Americans have seen the national average price of one gallon of gas rise to a new record level. All fifty states have gas prices at $4 or more. AAA released a statement in which the agency said this phenomenon is "unprecedented."

Moms of Newborn Babies Face a Scary Formula Shortage

Economy

In the last few weeks, supply chain issues have brought about an alarming shortage in baby formula. For moms who can't breast feed, fighting back panic while attempting to find the right baby formula can be a daunting task.

Fed Ratchets up Interest Rates by Half Point for the First Time in Two Decades

Economy

Earlier this year, Fed chair Jay Powell announced that the Reserve would likely raise interest rates multiple times during 2022. They raised them in March, and, on Wednesday, they raised rates by a half-point. This was the first time the Fed has taken such a drastic action in two decades.

Is the Economy Going in the Wrong Direction? GDP Sees Negative Numbers, First Since 2020

Economy

Record high inflation, snags in the supply chain, and shortages in the workforce have all contributed to a -1.4 percent drop in GDP (gross domestic product). The Commerce Department released the information on Thursday.

Twitter Accepts Elon Musk’s $44 Billion Bid, Changes Coming

Economy

Throughout Monday, rumors that the board of directors at Twitter and Elon Musk had reached a deal regarding his proposal to buy the company for $44 billion. Late Monday afternoon, an announcement that the board had unanimously accepted his bid was made public, pending the approval of Twitter stockholders.

Four Reasons Some Americans Never Get a Tax Refund

Economy

Tax season means different things for different people. Some are eager to get that W2 while others dread every tax filing season. While most Americans will get a refund each year, there are those who pay Uncle Sam every tax season. For these individuals, tax season is to be dreaded.

As Interest Rates Rise, How will the Housing Market be Effected?

Economy

On Thursday, the housing experts at Freddie Mac revealed that the average interest rate on an American mortgage is the highest rate in a decade. Currently, the thirty-year fixed-rate mortgages is five percent, up from last week's rate of 4.72 percent.

Elon Musk Declines Seat on Twitter Board – Could Twitter be in for a Takeover?

Economy

After initially announcing he would accept a seat on the Board of Directors at Twitter, Elon Musk revealed on Monday that he has abandoned his original plan. Last week, the world's richest man bought 9.2 percent of stock in Twitter, making him the largest shareholder. In order to sit on the board, Musk was capped at buying only a certain percentage of Twitter stock.

Elon Musk Becomes Twitter’s Largest Shareholder – What’s Next for Twitter

Economy

On Monday, Musk purchased 73.5 million shares of Twitter stock, which is approximately 9.2 percent of the company. This makes Musk the "largest outside shareholder" of stock in the social media company.

March Jobs Report Offers Encouragement; Some States Looking to Reduce Unemployment Benefits to Battle “Great Resignation”

Economy

The Labor Department released its annual jobs report on Friday, and data appears to show a strong labor market in the face of the highest inflation rate in forty years. Numbers on the overall economy are expected later, and may be abysmal as they will include a surge in oil and gas prices since the end of February.