Analysts say a Russian invasion of its neighboring country would be matched with severe financial sanctions. That would likely lead the Kremlin to withhold oil from the world market, which is already struggling to stay afloat with demand.
Russian forces are still massing on the Ukrainian border, and the U.S. is warning Russia could choose to attack at any moment. A further Russian invasion there could cost you money here at home.
Consumer News: Oil prices keep going up, wage increases met by ongoing inflation and more.
2021 was a rough year for motorists facing high gas prices, and more pain at the pump is here again.
Consumer News: Mortgage rates keep jumping, along with prices at the pump
President Joe Biden has ordered 50 million barrels of oil released from the strategic reserve to help bring down energy costs, in coordination with other major energy consuming nations, including China, India, and the United Kingdom.
Consumer News: Ford issues recall for some Mustang Mach-E vehicles, Krispy Kreme adding new item for a limited time
Consumer News: Gas prices down in the Midlands, CDC issues new guidance on cruises and more!
American consumer spending jumped in the month of January. Spending increased by 2.4% last month, the biggest jump since June, thanks to stimulus checks. Incomes also rose 10% in January, which is the biggest increase since April of last year.
