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U.S. President Donald Trump said on Friday he expects his administration to impose tariffs related to oil and gas around Feb. 18. He did not name a specific country to which the tariffs would apply or specify any more details about the plans. "We're going to put tariffs on oil and gas," Trump told reporters in the White House's Oval Office.

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The market anxiety ahead of Donald Trump's tariffs deadline focused Friday on oil and gas after the president acknowledged there could be issues including the energy staple in his overall plans.

U.S. inflation increased by the most in eight months in December amid robust consumer spending on goods and services, suggesting the Federal Reserve would probably be in no hurry to resume cutting interest rates soon. While the report from the Commerce Department on Friday showed a modest gain in prices excluding the volatile food and energy components on a monthly basis, the annual increase in the so-called core inflation has not slowed since October. The policy statement accompanying the decision did not include the reference to inflation having "made progress" toward the Fed's 2% target.

When your personal finances combine with your personal space, your spending habits and savings account might be working a bit more harmoniously too. Consumer practices across the world have been...

“I would like to see progress in lowering inflation resume before we make further adjustments” to the main interest rate, Federal Reserve Governor Michelle Bowman said.

Goolsbee told CNBC, however, that "there is a question mark that is coming from policy uncertainty," including over the impact of tariffs that President Donald Trump says he will impose on trading partners like Mexico and Canada as soon as Saturday. Goolsbee said he agrees with Fed Chair Jerome Powell, who on Wednesday said there should be "no hurry" in making further cuts, given the need to see more progress on inflation. Powell spoke after the central bank announced it had left its benchmark interest rate in the current 4.25%-4.50% range.