Economy

Sanctions could push Russia into a financial crisis and depression

5:26pm March 03, 2022

by Chris Arnold

A full-blown financial crisis can be devastating for a country. Banks fail, business go under and people lose their jobs. Sanctions on Russia could tip the country into that kind of economic collapse.

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Law enforcement is using one of cryptocurrency's strengths to fight crypto crime

4:58pm March 03, 2022

Cryptocurrency is an asset for those seeking privacy in their transactions, including criminals. Eyebrows were raised when a couple was arrested for allegedly laundering billions in stolen bitcoin.

El Salvador's president is taking a massive risk on Bitcoin

4:28pm March 03, 2022

by Carrie Kahn

El Salvador's president is taking a billion-dollar risk on Bitcoin — with the country's treasury. Among the plans: a crypto trade zone near a dormant volcano.

Millennial homeowners: Do you have buyer's remorse?

11:37pm March 02, 2022

by Jason Fuller

Surveys show millennials are experiencing buyer's remorse from houses they purchased during the pandemic. NPR's All Things Considered wants to hear to how your homebuying experience went.

Gas prices reach over $5 a gallon at a station in Los Angeles on Friday. Oil prices continue to surge after Russia's invasion of Ukraine, with some analysts describing market conditions as verging on "panic."

Economy

Oil prices surge as fears about Russian crude supplies intensify

5:04pm March 02, 2022

by Camila Domonoske

The global benchmark topped $115 briefly on Wednesday, just days after it crossed the triple-digit mark for the first time in seven years.

Biden's top economics adviser on fighting inflation

4:41pm March 02, 2022

NPR's Ari Shapiro talks with Cecilia Rouse, chair of the Council of Economic Advisers, about Biden's State of the Union address and the impact of the war in Ukraine on the U.S. economy.

Federal Reserve Chair Jerome Powell testifies about monetary policy and the state of the economy before the House Financial Services Committee on Wednesday. Powell reiterated the Fed is gearing up to raise interest rates this month.

The Federal Reserve is ready to raise interest rates soon despite the war in Ukraine

2:59pm March 02, 2022

by Scott Horsley

Fed Chair Jerome Powell says the central bank is prepared to begin raising interest rates this month to fight inflation despite economic uncertainty after Russia's invasion of Ukraine.

Biden addresses issues, such as Ukraine and inflation, in State of the Union speech

5:08am March 02, 2022

NPR's A Martinez talks to NPR White House correspondent Scott Detrow and Michelle Singletary, personal finance columnist for The Washington Post, about President Biden's State of the Union address.

Target said it would raise its minimum wage as high as $24 per hour.

Economy

Target is raising its minimum wage to as much as $24 an hour

6:41pm March 01, 2022

by Rina Torchinsky

The retail giant currently pays a $15 per hour starting wage, but said it would raise it to as much as $24. Companies have been boosting pay and benefits in an effort to keep and attract workers.

How a wrinkle in the oil futures market has clogged America's oil pump

10:15am March 01, 2022

by Paddy Hirsch

The U.S. is still the largest producer of oil, but we're a long way from pumping what we were before the pandemic. Blame backwardation.