CNN – Business/Consumer

By Matt Egan, CNN Business Treasury Secretary Janet Yellen on Wednesday defended the Biden administration’s 2021 stimulus package against criticism that it is to blame for high inflation. In her second straight day of testimony, Yellen told lawmakers during a hearing before the House Ways and Means Committee that the American Rescue Plan, signed into

By Anna Bahney, CNN Business Mortgage giants Freddie Mac and Fannie Mae announced Wednesday a series of actions that aim to make it easier to buy a home and close the racial homeownership gap, in which 72% of White Americans are homeowners while only 42% of Black Americans own a home. The sweeping changes include

By Matt Egan, CNN Business The Biden administration has issued new investment restrictions that prohibit Americans from buying Russian stocks and bonds. The ban is the latest step by US officials to crank up the financial pressure on Russia in response to Moscow’s invasion of Ukraine. New guidance issued Monday by the Treasury Department explains

By Anna Cooban, CNN Business The growing trend of buying things now but paying for them later is creating a debt trap for many shoppers in the United Kingdom. More than 40% of people in the United Kingdom who opt for such offers — which allow buyers to pay for their purchases in installments, often

By Peter Valdes-Dapena, CNN Business Gas prices that keep going up by the day have got a lot of people thinking about buying an electric vehicle. There is no question that electric vehicles cost much, much less to fuel than gasoline-powered models, especially with gas prices at around almost $5 a gallon on average, according

By David Goldman, CNN Business Vishal Garg, the Better.com CEO who fired 900 employees over Zoom just before Christmas, has been sued by a former executive for allegedly misleading investors. The SoftBank-backed online mortgage company agreed to a $7.7 billion merger with a blank-check firm to take the company public just over a year ago,

By Chris Isidore, CNN Business Another day, another record for US gas prices. The US average for the price of a gallon of regular gas hit $4.96 according to the most recent reading from AAA Wednesday. It marked the 12th straight day, and the 29th time in the last 30 that gas has set a

By Julia Horowitz, CNN Business For years, ExxonMobil struggled to court investors as fears about the climate crisis and criticism of its business strategy kept would-be shareholders at bay. Now, the oil giant is staging a dramatic comeback. What’s happening: Shares of Exxon climbed above $100 apiece on Tuesday for the first time since 2014.

By Kathryn Vasel, CNN Business The strong labor market has given us near record low unemployment, higher wages — and an unfortunate uptick in the number of reports of job seekers getting scammed. “We are definitely seeing job scams,” said Rhonda Perkins, attorney and chief of staff of the Federal Trade Commission’s division of marketing