Record gas prices hit working class Americans with inflation already surging
With each passing day the disruption of oil markets related to Russia's invasion of Ukraine pushes up gas prices in the U.S. to a new record.
ECONOMY
Americans on low incomes are hit harder by high gas prices due to the war in Ukraine
Gas prices are hitting record highs in the U.S. amid Russia's invasion of Ukraine. That's got a lot of people on modest incomes worried as inflation is already making it tough to scrape by.
How sanctions are pinning down the Russian economy
The Russian economy is cratering under the weight of Western sanctions. Russian policymakers are struggling with how to respond — and what to wear.
Gas prices surge to above $4 a gallon, near a national record
The prospect that the U.S. and its allies could impose new sanctions on Russian oil pushed energy prices sharply higher. The average price of gasoline in the U.S. hit $4.06 per gallon.
Ukraine and Russia play big roles in food production. The war is exasperating hunger
The war in Ukraine is pushing up already record-high food prices around the world — threatening the lives of millions of people in poor countries struggling with hunger. Here's why it's not hopeless.
Biden considers banning Russian oil but gas prices are already creeping up
The White House is hesitant to halt imports of Russian oil, but the administration is not ruling it out.
The Fed plans to raise interest rates, though cautious of maintaining job growth
The Federal Reserve Board plans to raise interest rates in an effort to curb inflation. It wants to do that without stalling job growth, and is likely encouraged by the latest employment report.
Rich Russians have been squirreling money away in the U.K. and U.S.
Scott Simon talks with Tom Burgis, Financial Times reporter and author of "Kleptopia: How Dirty Money Is Conquering the World," about the ways Russian billionaires hide their money abroad.
The U.S. added 678,000 jobs in February. It's another sign of a hot labor market
U.S. employers added 678,000 jobs in February as the unemployment rate fell to 3.8%, from 4% in January. The Federal Reserve hopes to curb inflation without stalling job growth.
Sanctions could push Russia into a financial crisis and depression
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.