For more than a decade, Alvaro Bolainez has ferried passengers around the Los Angeles area in his SUV as a rideshare driver. He's never seen anything like what's happened with gas this month. "It's changing so quick," Bolainez told CNBC. "It's insane." In Bolainez's eyes, it feels like prices at the

The U.S. decision to launch a slew of new investigations into key trading partners has raised eyebrows among analysts, who question both the timing and objectives of the probes. The investigations, targeting China, Mexico, the EU and more than a dozen other economies, are being carried out under Sec

With a high-stakes summit in Beijing less than three weeks away, the U.S. has launched sweeping trade investigations that put China squarely in its crosshairs, adding a new layer of friction to an already complicated relationship. The probes, which will be conducted under Section 301 of the Trade Ac

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 in line with the deficit recorded in the same month

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 th

Iran has continued to send large amounts of crude oil via the Strait of Hormuz to China even as the war between U.S.-Israel and Iran has hit broader supplies through the critical waterway, according to ship-tracking data. Iran has sent at least 11.7 million barrels of crude oil through the Strait of

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 dual mandate: stable prices and full employment. There essentially are

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 per gallon on Tuesday, according to AAA. That's the highest level seen since mid 2024 and marks

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 and slow growth present a double threat, as stimulative measures such as interest rate cuts and government spending only

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 2025. Since then, the 54-year-old has checked if products are made in Canada before buying at the grocery store. Mcbean canceled multiple trips to the U.S

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 centra