Family photo of leaders taken at the 16th BRICS Summit in Kazan, Russia on Oct. 24, 2024. Anadolu | Anadolu | Getty Images President-elect Donald Trump has pledged a 100% tariff against BRICS nations if they continue to undermine the U.S. dollar — but the threat won’t rein in the group’s expansion, analysts tell CNBC. … Read more
Prices that consumers pay for a variety of goods and services rose again in December but closed out 2024 with some mildly better news on inflation, particularly on housing. The consumer price index increased a seasonally adjusted 0.4% on the month, putting the 12-month inflation rate at 2.9%, the Bureau of Labor Statistics reported Wednesday. … Read more
The Eccles Building, location of the Board of Governors of the Federal Reserve System and of the Federal Open Market Committee. Brooks Kraft | Getty Images A sell-off in global bond markets is accelerating, fueling concerns over government finances and raising the specter of higher borrowing costs for consumers and businesses around the world. Bond yields … Read more
Job growth was much stronger than expected in December, possibly providing the Federal Reserve less incentive to cut interest rates this year. Nonfarm payrolls surged by 256,000 for the month, up from 212,000 in November and above the 155,000 forecast from the Dow Jones consensus, the Bureau of Labor Statistics reported Friday. The unemployment rate … Read more
U.S. President-elect Donald Trump looks on during Turning Point USA’s AmericaFest at the Phoenix Convention Center on December 22, 2024 in Phoenix, Arizona. Rebecca Noble | Getty Images President-elect Donald Trump is considering a plan that still would apply tariffs to all nations but narrow the focus to a select set of goods and services, … Read more
People check-in for their flights at the airport ahead of the Thanksgiving Holiday at Hartsfield-Jackson Atlanta International Airport, in Atlanta, Georgia, U.S., November 27, 2024. Megan Varner | Reuters It’s been another eventful year for U.S. air travel. Just five days into the year, a door panel blew off of a nearly new Boeing 737 … Read more
Federal Reserve Chair Jerome Powell speaks during a news conference following the Nov. 6-7, 2024, Federal Open Market Committee meeting at William McChesney Martin Jr. Federal Reserve Board Building in Washington, D.C. Andrew Caballero-Reynolds | AFP | Getty Images Inflation is stubbornly above target, the economy is growing at about a 3% pace and the … Read more
A briefcase filled with Iranian rial banknotes sits on display at a currency exchange market on Ferdowsi street in Tehran, Iran, on Saturday, Jan. 6, 2018. Ali Mohammadi | Bloomberg | Getty Images Iran is confronting its worst set of crises in years, facing a spiraling economy along with a series of unprecedented geopolitical and … Read more
President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday after vowing an economic boom to a cheering crowd of traders and business leaders. “We’re with you all the way,” the incoming Republican president said in the NYSE building in lower Manhattan, where he was invited after becoming TIME’s “Person … Read more
A view shows the logo of Organization of the Petroleum Exporting Countries (OPEC) during the United Nations climate change conference COP29, in Baku, Azerbaijan November 13, 2024. Maxim Shemetov | Reuters The OPEC+ oil alliance postponed a meeting to decide the next steps of its crude production strategy to Dec. 5, two delegate sources told … Read more