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.

Bitcoin 2022 conference: Miami's cryptocurrency craze on full display

Thousands of crypto enthusiasts are gathering in Miami for Bitcoin 2022 as the city builds its reputation as one of the key locations to develop blockchain technology.

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.

Oregon man cashes in forgotten lottery ticket, wins $8.9M

Wilbur Brown of Oregon purchased his winning multi-drawing lottery ticket on Christmas Eve in 2021 and forgot about it until February 2022. That’s when he found out he won the $8.9 million jackpot.

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.

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.

Mastercard, Visa suspend operations in Russia amid Ukraine invasion

Mastercard said cards issued by Russian banks will no longer be supported by its network and any card issued outside the country will not work at Russian stores or ATMs.

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.

IRS to end facial recognition for identity verification

The IRS is moving away from the use of facial recognition for identity verification. This transition will occur over the coming weeks to avoid a disruption to tax filing season.

Retail sales drop 1.9% in December following early holiday rush

Americans sharply cut their spending in December after a burst of early spending in the fall that helped bolster the holiday season.