Energy prices
U.S. gas prices dip below $4 for first time in nearly three months
AAA’s national average for regular gasoline fell to $3.99 as crude prices eased and more ships moved through the Strait of Hormuz
Economy news
Read the latest verified Economy news on BetaVoices, with related events, figures, and place-driven context.
This section currently has 35 approved stories, with the latest update on Jun 19, 2026.
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- Food safety Nara organic infant formula recalled after 3 botulism cases The voluntary recall covers whole milk powdered infant formula sold in the U.S. through Target, Target.com and Nara.com, according to an FDA notice
- Inflation Wholesale prices jump 1.1% in May as energy costs surge The producer price index rose faster than economists expected, lifting annual wholesale inflation to 6.5%, its highest rate since November 2022
- Consumer electronics GoPro faces survival pressure as losses, costs and competition mount The action-camera maker is in lender talks and weighing strategic alternatives, including a possible sale or merger, after revenue declines and a first-quarter loss
Euro zone rates
Energy shock puts ECB on course for expected rate hike
Policymakers are expected to lift the deposit rate by 25 basis points as rising oil and gas costs feed inflation concerns across the euro zone
Auto safety recall
Stellantis recalls nearly 1.08 million Jeep Wranglers and Gladiators over fire risk
The company says affected Jeep owners should park away from buildings and other vehicles until a repair is available, with a remedy expected no later than July
Entry-level hiring
Young job seekers face a crowded, automated hiring market
Recent graduates describe sending hundreds of applications into systems that can feel opaque, as economists point to weak hiring, employer uncertainty and AI-driven screening
Labor market
Job openings jump to 7.6 million, highest since May 2024
April’s JOLTS report showed stronger demand for workers but slower actual hiring, reinforcing a labor market with limited churn
Federal savings program
Trump Accounts app launches for children’s investment accounts
Parents and guardians can use the new app to manage tax-preferred accounts for children, with a $1,000 federal contribution for eligible kids starting July 4
Inflation
Fed’s preferred inflation gauge rises to nearly three-year high under Warsh
The April PCE report showed inflation running at a 3.8% annual rate, adding pressure on the new Fed chief as energy costs climb and rate-cut hopes fade
Utility merger
NextEra to buy Dominion in $67 billion all-stock utility deal
The companies say the merger would create the world’s largest regulated electric utility as data centers and AI drive electricity demand higher
Higher education
Engineering and architecture majors show strongest college payoff in study
A Postsecondary Commission analysis of Texas public college students found bachelor’s degree entrants generally outearned high school graduates within 15 years, even after college costs
Household budgets
Florida mother turns to digital coupons as grocery bills climb
Kiana Powell told CBS News her family’s grocery costs have risen sharply, pushing her to track online deals, rewards programs and store-by-store sales
Inflation outlook
Forecasters see inflation surge worsening in coming months
The Philadelphia Fed’s Survey of Professional Forecasters sharply raised inflation estimates after April price data showed consumer and wholesale prices at multiyear highs
Household costs
Food pantries see more Americans return as prices outpace wages
A CBS News report says families are turning again to food assistance as household costs rise faster than paychecks for the first time in three years
Fed policy
Bond market pushes for tighter Fed stance as Warsh takes over
Ed Yardeni says the 2-year Treasury yield is flashing concern that rates are too low to contain inflation, while Treasury Secretary Scott Bessent argues the latest price surge should fade
Young Americans feel negatively about job market prospects, new poll shows
Less than half of Americans ages 15 to 34 felt like it was a good time to find a job in 2025, a new Gallup poll shows. Business analyst Jill Schlesinger joins "CBS Mornings" to discuss.
Energy costs
Gas hits $4.55 a gallon as Iran war pressures consumers
The national average is up more than 50% since the war began, while companies are also dealing with higher aluminum costs tied to Middle East disruptions
Employment discrimination
EEOC sues New York Times, alleging bias against White male editor
The federal agency says the paper passed over a longtime editor for a real estate role because of race and sex; the Times calls the case politically motivated
Air travel
TSA PreCheck cuts signup cost for travelers 30 and under
First-time applicants can get $20 off a five-year membership in May, lowering the cost to as little as $56.75 depending on enrollment provider
Household finances
Gallup: Record 55% of Americans Say Their Finances Are Getting Worse
The April survey found deepening worries over inflation, energy costs, retirement savings and credit card payments, with pessimism at its highest level since Gallup began asking in 2001
Travel security
TSA PreCheck discount targets travelers 30 and under
First-time applicants in May can get $20 off a five-year membership as summer travel approaches and airfare costs rise
Central banks
ECB and Bank of England expected to hold rates as inflation shock clouds outlook
The Iran war has lifted energy prices and revived stagflation concerns, but economists expect both central banks to wait for clearer evidence before tightening again
Artificial intelligence
AI agents are starting to shop for consumers. Experts urge caution
Retailers and payment companies are testing agentic commerce, but specialists warn that autonomous purchases can expose shoppers to costly errors and data risks
Economic fallout
Iran war’s economic hit may linger through 2026, economists say
Oil and gas prices have jumped since the conflict began, raising costs for drivers, travelers and households even if fighting eases soon
Artificial intelligence
Musk-Altman OpenAI trial puts AI’s mission and money on the stand
The federal case asks whether OpenAI strayed from its founding purpose as it became one of the most valuable companies in artificial intelligence
Artificial intelligence
Google workers urge Pichai to reject classified Pentagon AI work
In an open letter, employees working on AI systems warned that a Defense Department deal could put Google technology into harmful military uses
Tariff refunds
UPS, FedEx and DHL seek tariff refunds. Customers may have to wait
The companies say they will pass along approved IEEPA refunds to customers who paid the duties, but only importers of record can file and CBP processing may take months
Crypto litigation
Justin Sun sues Trump family’s World Liberty Financial, alleging fraud
The crypto billionaire says the venture froze WLFI tokens he bought and blocked him from assets he claims were valued at as much as $1 billion
Federal Reserve
Warsh’s inflation gauge could complicate his Fed pitch
Trump’s nominee for Federal Reserve chair told senators he favors trimmed inflation measures. Bank of America says that approach may not always deliver a softer reading
IEA outlook
IEA: Iran war to keep global gas markets tight through 2027 after Qatar LNG hit
Damage at Qatar’s Ras Laffan and the effective closure of the Strait of Hormuz will delay LNG supply growth by at least two years, the agency says
Household finances
Raising a child in the U.S. now tops $300,000 through age 18, LendingTree finds
A CBS News segment highlights the estimate and shares guidance on navigating the expenses, presented by Kelly O’Grady
IMF sees deep contraction as blockade bites
IMF projects Iran’s economy will shrink 6.1% in 2026 as inflation soars and rial slides
War damage, a near-shutdown of the Strait of Hormuz and tightening sanctions have cut Iran off from trade, pushing prices higher and the currency to about 1.32 million rials per U.S. dollar, according to IMF and analyst estimates
Summer travel
Summer airfares are climbing on higher fuel costs. Book now, experts say
Jet fuel prices remain elevated, pushing airlines to raise fares and fees. The average domestic round trip hit $358 as of April 13, up 18% from a year ago, according to Kayak
Fresh Majority, First Move: Carney Suspends Gas Tax to Tackle Affordability
Gas Tax Paused, Prices Dip
Carney temporarily suspending federal fuel excise tax on gas, diesel and aviation fuel