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The latest news and analysis about the health of the US economy.

Oil Declines as Trump Tariff Threats Overshadow Russia Sanctions

(Bloomberg) -- Oil edged lower after President Donald Trump threatened tariffs on China and the European Union, while traders continued to assess the fallout from unprecedented US sanctions on Russia.Most Read from BloombergTexas HOA Charged With Discrimination for Banning Section 8 RentersHow Sanctuary Cities Are Preparing for Another Showdown With TrumpDonations to LA Fire Victims Rise Past $200 Million MarkNY’s Hochul Calls for Law Banning Cell Phone Use in SchoolsLA Schools Wrecked by Fires

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Trump's climate withdrawal creates rare discord with Big Oil

U.S. oil and gas producers are thrilled that President Donald Trump wants to encourage domestic energy development but say his decision to withdraw the United States from international climate cooperation will not help their investment plans in the global transition to cleaner energy. The position reflects a rare note of discord between Trump and Big Oil, one of his most important constituencies and long considered the top villain behind climate change for pumping and selling the fossil fuels driving planetary warming. Removing the United States from the Paris climate deal for the second time was among a flurry of first-day moves by Trump aimed at pumping up already record high domestic energy production, sending a signal to the rest of the world the U.S. will no longer engage in multilateral efforts to combat climate change.

BlackRock’s Fink Calls Elevated Inflation World’s ‘Biggest Risk’

(Bloomberg) -- BlackRock Inc. Chief Executive Officer Larry Fink said investors are too quick to conclude that high inflation is over, raising the prospect that bond yields will rise along with steeper prices.Most Read from BloombergTexas HOA Charged With Discrimination for Banning Section 8 RentersHow Sanctuary Cities Are Preparing for Another Showdown With TrumpDonations to LA Fire Victims Rise Past $200 Million MarkNY’s Hochul Calls for Law Banning Cell Phone Use in SchoolsLA Schools Wrecked

Indian Oil to Rebalance Crude Buying After Russia Sanctions

(Bloomberg) -- Most Read from BloombergTexas HOA Charged With Discrimination for Banning Section 8 RentersHow Sanctuary Cities Are Preparing for Another Showdown With TrumpDonations to LA Fire Victims Rise Past $200 Million MarkNY’s Hochul Calls for Law Banning Cell Phone Use in SchoolsLA Schools Wrecked by Fires Plead on GoFundMe for Help to ReopenFollow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.Crude oil

Women are officially the economy’s power players—outpacing men in both income and spending growth, BofA report says

Bank of America's Taylor Bowley reports that growth in women's consumption and income is outpacing male counterparts.

Federal Reserve could hike rates if Trump tariffs unleash inflation: BNY CEO

BNY CEO Robin Vince won't rule out a Fed rate hike if Trump tariffs stoke inflation.

A trade war with China is coming as Trump takes office: Bremmer

Eurasia Group founder and president Ian Bremmer warned Monday that he believes the US is headed for a trade war with China just as Donald Trump assumes the presidency for the second time.

Trump and Powell could be on a collision course in 2025

Donald Trump and Federal Reserve Chair Jay Powell have clashed before, and may be set to do so again in 2025.

Trump makes the Fed's challenging inflation fight more complicated

Inflation was a top concern for central bank leaders in 2024. Donald Trump could make the fight against higher prices even more difficult.

Investors cheered December's inflation data. Experts say US economy is not 'out of the woods' yet.

December's CPI print finally showed some relief in core inflation. But the threat of sticky prices is still a reality for most economists.

December retail sales signal strong economic growth to end the year

The December retail sales report comes as investors are closely watching for signs of health in the consumer as the Federal Reserve is expected to hold interest rates higher for longer than initially hoped.

Housing inflation pressures ease in encouraging sign for Fed

The latest Consumer Price Index showed that housing inflation pressures continued to moderate in December in an encouraging sign for the Federal Reserve.

Core CPI rises less than forecast as inflation pressures ease slightly in December

A key inflation metric eased for the first time since July as investors debate the Federal Reserve's next interest rate decision.

The fight over H-1B workers highlights a core problem with the US economy: Labor shortages

Though visas and immigration are hot topics, many types of employers across the country are struggling to hire qualified workers.

The elaborate visa system that enables foreigners to work in the US

The federal government has an elaborate system of visas that allow foreigners to work in the US — a topic that is sure to heat up as Donald Trump takes office.

Citi raises average 2025 oil price forecasts, citing geopolitical risks

"The oil outlook could see heightened, sustained geopolitical risks in Iran/Russia-Ukraine potentially wipe out the 2025 oil balance surplus, but the Trump administration appears intent on dealmaking," the bank said in a note. Citi expects Brent crude to average $67 a barrel in 2025, up from a previous forecast of $62. The Biden administration on Jan. 10 sanctioned more than 100 tankers and two Russian oil producers, leading to a scramble by top buyers China and India for prompt oil cargoes and a global rush for ship supply as dealers of Russian and Iranian oil sought unsanctioned tankers.

South Africa Inflation Surprise Raises Prospects of Rate Cut

(Bloomberg) -- South African inflation quickened at a slower pace than expected in December, providing room for policymakers to cut interest rates later this month.Most Read from BloombergTexas HOA Charged With Discrimination for Banning Section 8 RentersHow Sanctuary Cities Are Preparing for Another Showdown With TrumpDonations to LA Fire Victims Rise Past $200 Million MarkNY’s Hochul Calls for Law Banning Cell Phone Use in SchoolsLA Schools Wrecked by Fires Plead on GoFundMe for Help to Reopen

Malaysia Keeps Rate Unchanged on Steady Growth, Inflation

(Bloomberg) -- Malaysia kept its benchmark interest rate unchanged on Wednesday, a move widely expected as officials bet they can sustain growth momentum and keep inflation under control this year.Most Read from BloombergTexas HOA Charged With Discrimination for Banning Section 8 RentersHow Sanctuary Cities Are Preparing for Another Showdown With TrumpDonations to LA Fire Victims Rise Past $200 Million MarkNY’s Hochul Calls for Law Banning Cell Phone Use in SchoolsLA Schools Wrecked by Fires Ple

Oil eases to one-week low amid Trump tariff uncertainty

(Reuters) -Oil prices eased to a fresh one-week low on Wednesday as the market considers how U.S. President Donald Trump's proposed tariffs could affect global economic growth and demand for energy. Brent futures fell 29 cents, or 0.4%, to settle at $79.00 a barrel, while U.S. West Texas Intermediate crude (WTI) traded 39 cents, or 0.5%, lower to settle at $75.44. "Possible sanctions under the new Trump administration remain unclear, with possible tariffs related to Canada and Mexico now seemingly at the forefront of trader uncertainties," analysts at energy advisory firm Ritterbusch and Associates said in a note.

New Zealand Inflation Unexpectedly Held at 2.2% Last Quarter

(Bloomberg) -- New Zealand’s annual inflation was unexpectedly steady in the final three months of last year, remaining above the midpoint of the central bank’s target band even as domestic price pressures eased.Most Read from BloombergTexas HOA Charged With Discrimination for Banning Section 8 RentersHow Sanctuary Cities Are Preparing for Another Showdown With TrumpDonations to LA Fire Victims Rise Past $200 Million MarkNY’s Hochul Calls for Law Banning Cell Phone Use in SchoolsLA Schools Wreck

Exclusive-Warren Buffett's Pilot Co shuts oil trading business, sources say

Warren Buffett's Pilot Co is shuttering its international oil trading business, ending an excursion into the trillion-dollar global market to refocus on its Pilot Flying J service stations and truck stops in the U.S., three sources told Reuters on Tuesday. The company, a unit of Buffett's Berkshire Hathaway has let go of almost all employees running international trading, two sources familiar with the matter said. Known for its service stations and truck stops, Knoxville, Tennessee-based Pilot began international trading after Berkshire Hathaway took a 39% stake in 2017.