U.S. Economy

The U.S. economy is likely headed for a recession in 2023 as a result of the Federal Reserve's fight to kill inflation with steep interest rate hikes.

Heating costs for homes using natural gas are expected to rise 25% this winter compared with the previous winter, according to the U.S. Energy Information Administration.

Companies across a range of industries are implementing hiring freezes and workforce reductions amid the uncertain economy. Many professionals are still considering quitting anyways.

The number of car repossessions across the United States is on the rise and expected to continue into the new year. Some industry experts say it is a sign of the economy.

Amtrak has unveiled its newest trains. The company said the modern and more sustainable Amtrak Airo will start debuting in 2026 and operate on routes nationwide.

Goldman Sachs is weighing potential layoffs of up to 8% of its workforce in the new year as the economy continues to pose headwinds, a source familiar with the matter said.

Rent prices in November increased 1.23% month-over-month after two months of declines. This pushed median rent prices up above $2,000 yet again. Prices also rose 7.54% annually.

Grocery costs jumped 12% in November compared to a year ago, according to government data. The elevated prices are forcing shoppers to make trade-offs or even forgo certain items.

The U.S. Department of Commerce plans to add over 30 Chinese companies to a trade blacklist next week, according to a new report.

The national average price for regular gasoline is expected to sit around $3 per gallon, according to automobile club AAA. Many states will see their averages fall below $3.

Petroleum market experts criticized California Gov. Gavin Newsom for his recent move to punish oil companies for high profits, saying he was misinformed about economics.

Germany is building new LNG facilities in Wilhelmshaven at record speed to make up for gas supplies that Russia has stopped sending since invading Ukraine.

Exxon Mobil CEO Darren Woods sits down to discuss energy policy and security, after Ukraine, as well as carbon emissions and clean energy such as renewables.

FOX Business’ Stuart Varney discusses the price of gas in the U.S. and the impact of Biden’s ‘failed’ energy policy on Americans.

The national average cost of a gallon of regular gas, which is $3.33 a gallon Thursday, is now lower than what Americans were paying last year, AAA says.

A top Texas state Senate committee issued a subpoena last month demanding asset manager BlackRock hand over key documents related to its decision-making on environmental investments.

Digital media company BuzzFeed said it's reducing its workforce by 12% in order to weather the economic downturn that it expects will continue into next year.

PepsiCo plans to lay off hundreds of white collar workers as it streamlines marketing and centralizes manufacturing.

Energy industry groups filed a federal lawsuit against the Biden administration Monday evening, arguing it has violated federal statute requiring quarterly oil and gas lease sales.

The decision from OPEC+ to maintain output cuts of two million barrels per day could impact the decline in gas prices, which is an average of $3.40 per gallon.