Economy
Follow the latest Economy news, videos, and analysis from ABC News.
June 19, 2025 at 5:46 PM

Israel-Iran conflict expected to hike US gas prices, experts say

Gas Buddy's Patrick De Haan discusses how U.S. gas prices could rise within the coming days as the conflict between Israel and Iran continues.
June 19, 2025 at 5:46 PM
VIDEO: Israel-Iran conflict expected to hike US gas prices, experts say
June 19, 2025 at 3:16 PM

As US gas prices rise amid Israel-Iran conflict, here’s how you can save

The cost of crude oil is up nearly 10% since Israel’s initial strike on Iran last Friday. ABC News’ Alexis Christoforous reports.
June 19, 2025 at 3:16 PM
VIDEO: As US gas prices rise amid Israel-Iran conflict, here’s how you can save
June 19, 2025 at 3:10 PM

How much could US gas prices rise amid Israel-Iran conflict?

US gas prices could rise within days, industry analysts said.
June 19, 2025 at 3:10 PM
Smoke rises following the Israeli strikes, in Kermanshah, Iran, June 13, 2025.
June 19, 2025 at 2:05 PM

Gas prices rise amid rising tensions in Middle East

The cost of crude oil is up nearly 10% since Israel’s strike on Iran. ABC News Chief Business Correspondent Rebecca Jarvis tracks where prices are going and how you can save.
June 19, 2025 at 2:05 PM
VIDEO: Gas prices rise amid rising tensions in Middle East
June 19, 2025 at 10:08 AM

Social Security may run dry earlier than previously anticipated, trustees say

Social Security and Medicare could face automatic cuts in 2033, a report found.
June 19, 2025 at 10:08 AM
Two people enter a Social Security Administration office in St. Clair Shores, Mich., March 7, 2025.
June 18, 2025 at 7:17 PM

Fed holds interest rates steady, defying Trump

The Fed has pursued a patient approach as it awaits the effects of tariffs.
June 18, 2025 at 7:17 PM
A view from the United States Federal Reserve Building in Washington D.C., June 14, 2023.
June 18, 2025 at 7:01 PM

Fed holds interest rates steady, defying Trump

The Federal Reserve held its benchmark interest rate steady on Wednesday, continuing a wait-and-see approach adopted by the central bank in recent months as it observes potential effects of tariffs.
June 18, 2025 at 7:01 PM
VIDEO: Fed holds interest rates steady, defying Trump
June 18, 2025 at 2:54 PM

Trump slams Fed Chair Powell as 'stupid person' ahead of rate decision

President Donald Trump criticized Federal Reserve Chairman Jerome Powell as he spoke with reporters outside the White House on Wednesday morning.
June 18, 2025 at 2:54 PM
President Donald Trump criticized Federal Reserve Chairman Jerome Powell as he spoke with reporters outside the White House on Wednesday morning.
June 18, 2025 at 2:05 PM

‘No rate cut’ at Fed meeting, financial analyst predicts

Bankrate’s Greg McBride explains the economic scenarios that could prompt a cut in interest rates by the Federal Reserve.
June 18, 2025 at 2:05 PM
VIDEO: ‘No rate cut’ at Fed meeting, financial analyst predicts
June 17, 2025 at 12:52 PM

US retail sales fall as Americans turn cautious after spending early to beat tariffs

Retail sales fell sharply in May as consumers pulled back after a sharp increase in spending in March to get ahead of President Donald Trump’s sweeping tariffs on nearly all imports
June 17, 2025 at 12:52 PM
FILE - A Tariff Free sign to attract vehicle shoppers is at an automobile dealership in Totowa, N.J., on April 30, 2025. (AP Photo/Ted Shaffrey)
June 17, 2025 at 10:38 AM

Fed officials left in limbo as tariffs complicate this week's rate decision

The U.S. economy is mostly in good shape but that isn’t saving Federal Reserve chair Jerome Powell from a spell of angst
June 17, 2025 at 10:38 AM
June 16, 2025 at 8:07 PM

Stocks close higher, despite intensifying Israel-Iran conflict

Oil prices fell and stocks closed higher on Monday, indicating optimism among investors about the limits of economic fallout from the ongoing Israel-Iran conflict.
June 16, 2025 at 8:07 PM
A trader works on the floor of the New York Stock Exchange at the opening bell, June 13, 2025, in New York City.
June 16, 2025 at 12:23 PM

Smaller amusement parks hope for a strong summer under the shadow of tariffs

The tariffs wars involving global economic powerhouses such as the U.S. and China are being felt even in such distinctly local places as your regional amusement park
June 16, 2025 at 12:23 PM
Playland's Castaway Cove booth operator Ja'Vira Blake restocks prizes at Playland's Castaway Cove amusement park, in Ocean City, N.J, on Friday, June 6, 2025. (AP Photo/Mingson Lau)
June 16, 2025 at 10:22 AM

Credit scores decline for millions as US student loan collections restart

Millions of Americans are seeing their credit scores suffer now that the U.S. government has resumed referring missed student loan payments for debt collection
June 16, 2025 at 10:22 AM
FILE - A sign reading "cancel student debt" is seen outside the Supreme Court, June 30, 2023, in Washington. (AP Photo/Mariam Zuhaib, File)
June 13, 2025 at 5:54 PM

Oil prices surge and stocks slump after Israel attack on Iran

The strike stoked concern among investors about a possible wider conflict across the Middle East, which accounts for a large share of global oil production. ABC News’ Alexis Christoforous reports.
June 13, 2025 at 5:54 PM
VIDEO: Oil prices surge and stocks slump after Israel attack on Iran
June 13, 2025 at 2:59 PM

Consumer sentiment rises for 1st time this year as inflation remains tame

Consumer sentiment increased in June for the first time in six months, the latest sign that Americans’ views of the economy have improved as inflation has stayed tame and the Trump administration has reached a truce in its trade fight with China
June 13, 2025 at 2:59 PM
FILE - Customers wait in line for eggs at a Costco store in the Van Nuys section of Los Angeles on Wednesday, Feb. 19, 2025. (AP Photo/Richard Vogel, File)
June 12, 2025 at 7:24 PM

JetZero plans to build $4.7B plant in North Carolina, aims to create 14,500 jobs

A California-based company plans to build its first manufacturing plant for a next-generation passenger jet in central North Carolina
June 12, 2025 at 7:24 PM
FILE - North Carolina Democratic Gov. Josh Stein speaks to reporters after a Council of State meeting at the state Department of Transportation building in Raleigh, N.C., Tuesday, Feb. 4, 2025 (AP Photo/Gary D. Robertson,File)
June 12, 2025 at 2:35 PM

China appears to downplay US trade deal Trump said was 'done'

A spokesperson for China's Ministry of Commerce on Thursday appeared to downplay what President Donald Trump said Wednesday was a "done" trade deal.
June 12, 2025 at 2:35 PM
Chinese made cars and containers are seen before being loaded onto ships at the port in Shanghai, China, on June 11, 2025.
June 12, 2025 at 1:03 PM

US producer prices rise modest 2.6% in May with inflationary pressures still mild

U.S. wholesale prices rose modestly last month from a year earlier, another sign that inflationary pressures remain mild
June 12, 2025 at 1:03 PM
FILE - A shopper passes by the display of cartons of eggs in a Walmart store Friday, Feb. 7, 2025, in Englewood, Colo. (AP Photo/David Zalubowski, File)
June 11, 2025 at 2:51 PM

Trump says China trade deal 'done,’ and subject to 'final approval'

ABC News’ Britt Clennett reports on what both sides are getting from this agreement, and what happens next.
June 11, 2025 at 2:51 PM
VIDEO: Trump says China trade deal 'done,’ and subject to 'final approval'
June 11, 2025 at 2:48 PM

US and China agree to framework of trade deal

United States and Chinese officials say they have reached a tentative agreement to implement a deal the countries struck a month ago in Geneva that pauses most tariffs for 90 days.
June 11, 2025 at 2:48 PM
VIDEO: US and China agree to framework of trade deal
June 11, 2025 at 2:39 PM

Inflation ticked slightly higher in May amid Trump tariffs

The economy has defied warnings from economists and retailers of tariff-induced price hikes.
June 11, 2025 at 2:39 PM
People shop at a grocery store in Brooklyn on May 13, 2025 in New York City.
June 11, 2025 at 2:12 PM

Inflation ticked slightly higher in May amid Trump tariffs

The U.S. Consumer Price Index released on Wednesday showed May inflation ticking slightly higher, rising 2.4%, in line with expectations. ABC News’ Alexis Christoforous reports.
June 11, 2025 at 2:12 PM
VIDEO: Inflation ticked slightly higher in May amid Trump tariffs
June 9, 2025 at 3:58 AM

China's exports climb 4.8% in May, below forecasts, as shipments to the US drop

China's exports climb 4.8% in May, below forecasts, as shipments to the US drop nearly 10% from a year earlier
June 9, 2025 at 3:58 AM
June 8, 2025 at 2:27 AM

Economy steady amid global tariff war

Despite a dip in May's jobs report, Americans seem to show resiliency as an ongoing tariff war shakes stocks for Tesla and Lululemon. ABC News' Phil Lipof has the latest numbers.
June 8, 2025 at 2:27 AM
Economy steady amid global tariff war
June 6, 2025 at 2:46 PM

Hiring slowed in May as Trump's tariffs fluctuated

The job market has proven resilient as firms warn of uncertainty tied to tariffs. ABC News’ Alexis Christoforous reports.
June 6, 2025 at 2:46 PM
VIDEO: Hiring slowed in May as Trump's tariffs fluctuated
June 6, 2025 at 2:37 PM

Hiring slowed in May as Trump's tariffs fluctuated

The job market has proven resilient as firms warn of uncertainty tied to tariffs.
June 6, 2025 at 2:37 PM
A worker climbs at the construction site of the new legislative building for the Georgia General Assembly in Atlanta, on June 4, 2025.
June 5, 2025 at 7:31 PM

US trade deficit narrowed significantly amid Trump's tariff escalation

The U.S. trade deficit narrowed significantly in April as President Donald Trump sharply escalated tariffs before pausing a large swath of the levies, U.S. Commerce Department data on Thursday showed.
June 5, 2025 at 7:31 PM
VIDEO: US trade deficit narrowed significantly amid Trump's tariff escalation
June 5, 2025 at 3:41 PM

Unemployment filings are highest in 8 months

More than 240,000 people filed for unemployment last week, according to the Bureau of Labor Statistics. ABC News’ Alexis Christoforous reports.
June 5, 2025 at 3:41 PM
VIDEO: Unemployment filings are highest in 8 months
June 5, 2025 at 3:10 PM

Beef prices could spike this summer

Prices are expected to climb due to a lack of supply after the U.S. stopped cattle imports from Mexico last month due to a parasite affecting cattle in the country.
June 5, 2025 at 3:10 PM
VIDEO: Beef prices could hike this summer
June 5, 2025 at 12:06 PM

Procter & Gamble to cut up to 7,000 jobs under tariff, consumer uncertainty pressure

Procter & Gamble will cut up to 7,000 jobs, or approximately 6% of its global workforce, over the next two years as the maker of Tide detergent and Pampers diapers wrestles with tariff-related costs and customers who have grown anxious about the economy
June 5, 2025 at 12:06 PM
FILE - Proctor & Gamble headquarters complex is seen in downtown Cincinnati, Thursday, July 9, 2015. (AP Photo/John Minchillo, File)
June 4, 2025 at 7:10 PM

CBO says tariffs will shrink the economy and add to inflation but reduce the deficit

Nonpartisan Congressional Budget Office estimates that Trump’s tariffs would shrink the economy and add to inflation while reducing the federal deficit by $2.8 trillion.
June 4, 2025 at 7:10 PM
Trucks transporting containers line up at the Port of Ningbo-Zhoushan in Ningbo, China, May 28, 2025.
June 3, 2025 at 3:28 PM

US economic outlook slashed by OECD as Trump's tariffs upend global growth

"Global economic prospects are weakening," the OECD said.
June 3, 2025 at 3:28 PM
People shop at a store, April 30, 2025, in New York.
June 2, 2025 at 6:35 PM

Trump doubled steel and aluminum tariffs. Here's what it means for prices.

Big-ticket items and grocery staples could see price increases, experts say.
June 2, 2025 at 6:35 PM
Miami Beach, Florida, Publix grocery store, Coca Cola, Sprite, soda bottles and 12 packs on shelf.
June 1, 2025 at 10:50 PM

New data shows a record-high number of home sellers

A new report from real estate platform Redfin shows there are more people looking to sell their home than there are buyers on the market.
June 1, 2025 at 10:50 PM
VIDEO: New data shows a record-high number of home sellers
May 29, 2025 at 3:34 PM

US economy contracts 0.2% amid Trump tariffs

ABC News’ Alexis Christoforous reports on lates economic numbers as President Donald Trump’s tariffs continue to play out.
May 29, 2025 at 3:34 PM
VIDEO: US economy contracts 0.2% amid Trump tariffs
May 28, 2025 at 1:44 PM

What is a stablecoin and what could it mean for your finances?

The crypto tokens could change everyday payments. But they pose risks.
May 28, 2025 at 1:44 PM
In this Jan. 21, 2025, file photo, the Circle logo is displayed on a smartphone with Bitcoin logo in the background.
May 27, 2025 at 4:27 PM

How to save money on groceries amid rising costs

A savings expert shares tips to help a family of six lower their monthly grocery bill by hundreds of dollars.
May 27, 2025 at 4:27 PM
VIDEO: How to save money on groceries amid rising costs
May 27, 2025 at 2:55 PM

Sneakerheads face new reality with price hike

Rapper, actor and sneaker connoisseur Jacques Slade discusses Nike’s decision to increase the price of some of its sneakers.
May 27, 2025 at 2:55 PM
VIDEO: Sneakerheads face new reality with price hike
May 27, 2025 at 2:26 PM

Consumer confidence brightens as Trump rolls back tariffs

The survey ends five consecutive months of dampening consumer confidence.
May 27, 2025 at 2:26 PM
People shop for shoes in a Nike store on Nov. 25, 2022, in New York.
1 month ago

Retailers and customers brace for higher prices 

Retailers like Walmart and Nike make plans to raise prices in expectation of President Donald Trump’s new tariffs.  
1 month ago
Retailers and customers brace for higher prices 
1 month ago

Stocks close down as Trump threatens tariffs on Apple and European Union

The market dip erases some gains made in recent weeks as President Donald Trump rolled back levies.
1 month ago
Traders work on the floor of the New York Stock Exchange (NYSE) on May 21, 2025 in New York City.
1 month ago

Nike to raise prices, sell on Amazon

Nike is set to increase prices on a wide range of footwear, apparel for adults and equipment as soon as this week.
1 month ago
VIDEO: Nike to raise prices, sell on Amazon
1 month ago

House Majority Whip calls Moody's downgrade of US debt 'somewhat political'

House Majority Whip Tom Emmer (R-MN) joined ABC News Live with a reaction to the House passing President Donald Trump's spending bill.
1 month ago
VIDEO: House Majority Whip calls Moody's downgrade of US debt 'somewhat political'
1 month ago

Treasury to phase out penny after Trump says coin no longer makes 'cents'

The cost of making a penny has risen to more than twice the coin's face value.
1 month ago
The cost of making a penny has risen to more than twice the coin's face value.
1 month ago

Treasury to phase out penny after Trump says coin no longer makes 'cents'

The Treasury Department says it will phase out production of new pennies early next year.
1 month ago
President Donald Trump attends the swearing in of Labor Secretary Eugene Scalia in the Oval Office at the White House Sept. 30, 2019 in Washington.
1 month ago

Target CEO says tariffs risk 'massive' costs, but price hikes a 'last resort'

Target reported a drop in sales in its most recent quarter.
1 month ago
A shopper wheels a cart through the parking lot after making a purchase at the Target store, Feb. 27, 2023, in Salem, N.H.
1 month ago

Target reports dip in sales amid tariffs, diversity backlash

The retail giant saw sales fall in the first quarter of 2025 amid uncertainty over tariffs and backlash for ending corporate diversity initiatives.
1 month ago
VIDEO: Target reports dip in sales amid tariffs, backlash
1 month ago

What does the Moody's rating downgrade mean for the economy?

The credit downgrade spiked Treasury yields, risking higher interest rates.
1 month ago
People shop at a grocery store in Brooklyn on May 13, 2025 in New York City.
1 month ago

Consumer sentiment worsens despite Trump's rollback of tariffs, survey says

The survey marks four consecutive months of dampening consumer sentiment.
1 month ago
People shop at a grocery store in Brooklyn on May 13, 2025 in New York City.