Economy

"As I was driving, I noticed the car felt like it didn't have power to go," said Dana Hallman, one of the customers who unknowingly filled their cars with diesel.

Bill Adams, chief economist for Comerica Bank told Newsweek the "jury is still out" on whether there will be a recession as some analysts have predicted.

Multinational oil corporation Shell is currently invested in the venture, as are Japanese companies Mitsui and Mitsubishi.

A lack of fireworks shows may not be the only "disheartening" aspect of the holiday, as some foods popular for an upcoming Fourth of July cookout have increased in price.

Last July, President Joe Biden made a series of inaccurate predictions on the pandemic, the U.S. withdrawal from Afghanistan and rising inflation.

An economist who worked for former President Ronald Reagan said "there's no end in sight" for the war in Ukraine.

Libertarian advocacy group Americans for Prosperity is staging promotions at gas stations, at which the price of gas is lowered.

"The overall cost for the cookout is up 17% or about $10 from last year," the American Farm Bureau Federation said.

Economist Peter Schiff said the economic turmoil in the U.S. is worse than what is being described, saying it will hurt much more than the Great Recession.

The values and priorities of the Democratic Party today are not reflective of the working-class families, such as my own, that supported it for years.

Former Reagan adviser Art Laffer spoke with Newsweek about the issues he sees plaguing the U.S. economy.

Users on social media are calling for a mass boycott of gas sales over the July 4 weekend.

Russia has accused the West of trying to drive the country into an artificial default.

"Tell them to buy their own s*** if they're going to be ungrateful," said one commenter in reply to the viral post.

The lack of regulation has long been appealing to cryptocurrency investors, but now industry leaders are changing their tune.

With the biggest Western economies reeling from high inflation, is the strong Russian ruble a sign of the country's economic resilience?

During a speech calling for a federal gas tax holiday, the president made a push for clean energy.

Century Aluminum plans to layoff 628 employees from its Kentucky plant to battle high energy prices.

The United Nations High Commissioner for Refugees asserts that "successful economic adjustment remains one of the most pressing challenges" for refugees.

Noted economist Art Laffer said upcoming GDP numbers could show that the country is already in the grips of a recession.

The Federal Reserve chairman spoke on the likelihood of a recession, whether interest rates will rise again and how unemployment factors in.

A gas tax cut won't do much to fix high prices driven by a supply shock. Experts warn it could actually make inflation worse.

"We are not trying to induce a recession now," Fed Chair Jerome Powell said last Wednesday after raising interest rates. "Let's be clear about that."

The national average of gas is $4.968 per gallon, according to the American Automobile Association.

Even though the average rent in the U.S. is becoming higher, mortgage rates are increasing at a greater pace.

The Tesla and SpaceX boss was interviewed virtually at Bloomberg's Qatar Economic Forum in Doha.

"We have a chance here to make a fundamental turn toward renewable energy, electric vehicles, and not just electric vehicles but across the board," Biden said.

Raising interest rates will only "punish the American economy," the publishing executive said in an interview.

Consumers are selling everything from guns and game consoles to jewelry and family heirlooms to pay for basics.

A spokesperson for Arizona Iced Tea told Newsweek: "not to worry our price here is still 99¢."