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.

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

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

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

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

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 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"

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

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

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

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 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