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Economy

US eases Venezuela oil sanctions as Trump seeks to boost world oil supply during Iran war

By FATIMA HUSSEIN and REGINA GARCIA CANO
Mar 18, 2026 8:25 pm - U.S. companies will be allowed to do business with Venezuela's state-owned oil and gas company after the Treasury Department eased sanctions, with some limitations, on Wednesday as the Trump administration looks for ways to boost global oil supplies during the Iran war.
Federal Reserve projects one rate cut this year, sees limited economic impact from Iran war

By CHRISTOPHER RUGABER
Mar 18, 2026 1:50 pm - Federal Reserve officials expect the Iran war will worsen inflation this year while having little impact on economic growth, but they still expect to cut their key rate once in 2026.
US producer prices rose by a surprisingly hot 3.4% last month, the most in a year

By PAUL WISEMAN
Mar 18, 2026 8:33 am - The Labor Department reported Wednesday that its producer price index — which measures inflation before it hits consumers — rose 0.7% from January, and 3.4% from February 2025. The year-over-year increase was the most since February 2025.
Trump seeks to close $1.6 trillion revenue gap with raft of new tariffs

By CHRISTOPHER RUGABER
Mar 14, 2026 8:45 am - The Trump administration this week stepped up its ambitious effort to replace about $1.6 trillion in lost tariff revenue that was eliminated by the Supreme Court's decision to strike down a range of the president's import taxes.
Key inflation gauge worsened in January, before Iran war lifted gas prices

By CHRISTOPHER RUGABER
Mar 13, 2026 8:11 am - An inflation gauge closely monitored by the Federal Reserve moved higher in January in the latest sign that prices were persistently elevated even before the Iran war caused spikes in oil and gas costs.
US economy expanded at sluggish 0.7% in fourth quarter, government says, downgrading first estimate

By PAUL WISEMAN
Mar 13, 2026 8:00 am - The U.S. economy, hobbled by last fall’s 43-day government shutdown, advanced at an unexpectedly sluggish 0.7% annual rate from October through December, the Commerce Department reported Friday in a big downgrade of its initial estimate.
Senate passes bipartisan housing bill to improve access and affordability

By CHARLOTTE KRAMON, ALEX VEIGA and MARY CLARE JALONICK
Mar 12, 2026 1:03 pm - The Senate passed a broad bill on Thursday to make U.S. housing more accessible and affordable, a rare bipartisan effort in Congress to address a growing national problem.
US applications for unemployment benefits inch down to 213,000 as layoffs remain stable

By MATT OTT
Mar 12, 2026 8:30 am - WASHINGTON — U.S. applications for unemployment benefits inched down modestly last week as layoffs remain at historically healthy levels despite a weakening job market. T...
Inflation likely to spike in coming months after costs appeared to cool in 2026

By CHRISTOPHER RUGABER
Mar 11, 2026 7:00 am - Inflation likely was elevated last month even before the spike in oil and gas prices of the past two weeks that is expected to send consumer costs soaring in the months ahead.
‘It’s horrible’: Consumers rocked by gasoline spike as Iran war broadens

By Marni Pyke
Mar 09, 2026 6:44 pm - Gas prices in the Chicago region surged 50 cents in one week to $3.69 per gallon following U.S. and Israeli attacks on Iran that began February 28. The conflict has disrupted oil tanker traffic through the Strait of Hormuz, which handles 20% of the world's oil supply.

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