‘New cards on the battlefield’: U.S., Iran ratchet up rhetoric with peace talks in limbo
The U.S. and Iran escalated their war of words as a shaky ceasefire nears expiry, with each side raising the stakes ahead of a second attempt at reaching a peace deal. Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, appeared to up the ante in a social media post on Tuesday, criticising U.S.
Tariff refunds begin on Monday. These retailers are due big paydays
U.S. importers, ranging from Target to Walmart, are due more than $160 billion in tariff refunds following a February Supreme Court decision as the Trump administration launches its claims filing portal Monday. Hopes are high for a smooth launch of the system that will facilitate the refunds, but co
Fed Chair nominee Warsh says monetary policy must remain independent, but Fed must 'stay in its lane'
Federal Reserve chair nominee Kevin Warsh said Monday the central bank must be largely independent of political influence but also should stay focused on its primary goals. In remarks to be delivered Tuesday to the Senate Banking Committee, Warsh also expressed firm commitment to fighting inflation
'Resumption of hostilities': seized ship, vessel attacks push U.S.-Iran ceasefire toward brink
Fifty days into the U.S.-Israel war with Iran, tensions escalated again after clashes in the Gulf prolonged shipping disruptions and cast doubt on a fragile ceasefire set to expire this week. On Friday, Iran declared the Strait of Hormuz fully open to commercial traffic, sending crude prices tumblin
We spoke to dozens of central bankers, policymakers and politicians about the Iran war — These are their biggest fears for the global economy
Policymakers around the world are closely watching developments in the Middle East as they gauge the most prudent response to the economic fallout of the war. CNBC spoke to more than 30 central bankers, politicians and policymakers at the IMF World Bank meetings in Washington, DC, this week, who wei
Fed Governor Waller says Iran war and labor market risks are keeping central bank on hold
Federal Reserve Governor Christopher Waller on Friday said current economic conditions are complicating the approach to interest rates, with policymakers facing a potentially long-lasting inflation shock and a labor market with no job growth that nonetheless appears stable. Against that backdrop, Wa
New York Fed President Williams worries war will slow growth, aggravate inflation
New York Fed President John Williams expressed concern Thursday about the Iran war's impact on the economy, saying it already has shown signs of hiking prices and slowing growth. In a speech delivered to bankers in his home district, Williams noted that the conflict has "intensified the uncertainty"
Don't call time on dollar dominance just yet, say analysts as 'petroyuan' call sparks debate
The U.S. dollar suffered in 2025 as investors embraced the "Sell America" trade, the Federal Reserve cut interest rates, and the greenback was dealt a policy and fiscal credibility shock. The war in Iran has helped shore-up the dollar so far in 2026, but the future of the global reserve currency is
UK economy grew 0.5% in February, beating economists' expectations by a long shot
The U.K. economy grew by 0.5% in February, according to preliminary figures from the Office for National Statistics published Thursday. Economists polled by Reuters expected U.K. gross domestic product (GDP) to have expanded by 0.1% month-on-month. Services and production both grew by 0.5%, and cons
Cattle prices soar to record highs as grilling season heats up
Beef climbed to all-time highs on Tuesday, a bad sign for shoppers planning summer barbecues. Live cattle futures traded at the CME Group settled at $2.51 per pound on Tuesday, the highest price on record going back to the 1960s, according to FactSet data. Each contract is for 40,000 pounds of live
Here are all the ways the Iran war has affected the U.S. economy so far
The Iran war is starting to show up in the U.S. economy in ways both obvious and not so much, with soaring energy costs leading the impact and potential hits on broader growth simmering beneath the surface. Though recession fears have grown since the fighting began more than six weeks ago, most econ
Cleveland Fed President Hammack expects interest rates to stay on hold 'for a good while'
Cleveland Federal Reserve President Beth Hammack said Wednesday that the central bank is weighing threats to both inflation and employment and should keep interest rates on hold as conditions evolve. In a live CNBC interview, Hammack advocated a patient approach to monetary policy as Fed officials w
Trump threatens to fire Powell if the Fed chair doesn't leave office on his own
President Donald Trump on Wednesday again threatened to fire Federal Reserve Chair Jerome Powell and said the probe into the renovation of the central bank's headquarters needs to continue. If Powell stays on as a Fed governor after his successor is confirmed, Trump said he'll have him removed from
U.S. says Hormuz blockade 'fully implemented,' while signaling diplomatic off-ramp for Iran
The U.S. blockade of Iranian ports is now fully into effect, "completely" cutting off Tehran's international sea trade that powers about 90% of its economy, the U.S. Central Command said late Tuesday stateside. The announcement comes at a time when the White House has been signaling a diplomatic sol
CEOs are betting AI will augment work rather than displace all workers
The effect artificial intelligence will have on the labor market has left workers and job seekers alike worried about their future. Top executives, however, are optimistic that the technology can continue to augment workloads rather than entirely displace human employees. The debate over the future
