The US Treasury Department building is seen in Washington, DC. Saul Loeb | Afp | Getty Images The U.S. budget deficit surpassed $1 trillion for the fiscal year through February but was sharply lower than the same period a year earlier, Treasury Department data showed Wednesday. Outlays exceeded receipts by $308 billion in February, roughly…
Prices consumers pay for a broad range of goods and services rose in line with expectations for February, offering a final look at inflation pressures before an oil shock tied to the Iran war rattled the outlook. The consumer price index increased a seasonally adjusted 0.3% for the month, putting the 12-month inflation rate at…
Rotterdam hopper dredger vessel operated by Van Oord sits anchored, as Iran vows to close the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 9, 2026. Benoit Tessier | Reuters Iran has continued to send large amounts of crude oil via the Strait of Hormuz to China even as the…
Kevin Warsh, former governor of the US Federal Reserve, speaks with CNBC on July 17, 2025. CNBC Kevin Warsh could face a buzzsaw when he takes over as Federal Reserve chair — a Hobson’s choice between fighting inflation and protecting the labor market. The Fed is duty-bound to support both sides of its sometimes conflicting…
A Citgo gas station stands in Boston, Massachusetts, U.S., Jan. 6, 2026. Brian Snyder | Reuters Drivers are seeing the highest gas prices in more than a year and a half as the U.S.-Iran war disrupts the global oil trade. The average price per gallon of unleaded gas in the U.S. climbed to about $3.54…
A driver refuels a vehicle at a Wawa gas station in Media, Pennsylvania, US, on Monday, March 2, 2026. Matthew Hatcher | Bloomberg | Getty Images With oil spiking to $100 a barrel and the job market essentially paralyzed, the threat of stagflation again is looming over the U.S. economy and financial markets. High inflation…
Canadians hold an “Elbows Up” protest against U.S. tariffs and other policies by U.S. President Donald Trump, at Nathan Phillips Square in Toronto, Ontario, Canada March 22, 2025. Carlos Osorio | Reuters For Lisa Mcbean, buying American-made snacks and traveling to the U.S. was second nature. That changed for the Ontario resident starting in early…
San Francisco Federal Reserve President Mary Daly said Friday the weak February jobs report adds to a difficult policymaking environment. In a CNBC interview, Daly did not commit to a position on interest rates, but said a softening labor market combined with inflation still running above the central bank’s 2% target complicate future decisions. “This…
While the U.S. war with Iran is playing out thousands of miles away, American consumers are already feeling financial ripple effects. The U.S.-Israeli strikes on Iran over the weekend gave way to a week with topsy-turvy markets, spiking mortgage rates and higher prices at the pump. These changes can drag on already-lackluster consumer sentiment while…
The U.S. economy lost jobs in February, a month marred by severe winter weather and a strike at a major health-care provider, the Bureau of Labor Statistics reported Friday. Nonfarm payrolls fell by 92,000 for the month, compared with the estimate for 50,000 and below the downwardly revised January total of 126,000. February marked the…