The US has drafted a 15-point plan intended to help bring the war with Iran to a close, according to people familiar with the matter, highlighting the intensifying urgency within the Trump administration to resolve the conflict as the economic toll mounts. President Donald Trump has been pushing talks with Iran in a bid to […]
The war on Iran could have serious implications for inflation and interest rates, said a noted economist. “But there are three types of inflation. One is when you have a temporary increase in the price level and it fades away. The second one is when there is a permanent increase in the price level but […]
For most of its three-year bull run, the S&P 500 Index (^GSPC) has moved in lockstep with the shares of technology giants. But the relationship is suddenly breaking down — and that could be good news for languishing tech stocks. The correlation between an index tracking the so-called Magnificent Seven and the equal-weighted version of […]
President Trump’s drawn-out campaign to oust Jerome Powell may end up prolonging the Fed chair’s tenure at the central bank. Powell said this past week he intends to continue serving as the Fed’s chair pro tem in the event that Kevin Warsh, Trump’s nominee to be the next chair, is not confirmed by the Senate […]
Inflation, persistently high interest rates, and now surging gas prices have made buying and owning a car expensive. New cars hover around the $50,000 price range, making them unaffordable to most Americans, but the used-car market has usually stepped in and taken some of that load. The used-car market is nearly twice the size of […]
The ongoing partial government shutdown has already led to long lines at airports. Now, Trump administration officials are warning that next week may be a crucial inflection point when travel problems begin to cascade even further. “This is going to look like child’s play, what’s happening right now,” Transportation Secretary Sean Duffy said in a […]
United Airlines (UAL) CEO Scott Kirby said on Friday the airline will cancel about 5% of this year’s planned flights in the short term, as jet fuel prices surge due to the Middle East conflict. “If prices stayed at this level, it would mean an extra $11 billion in annual expense just for jet fuel,” […]
Consumers are expected to pull back on spending as the US-Israel war on Iran causes pain at the gas pump, with a new Oxford Economics analysis forecasting 2026 will bring the slowest annual consumption growth since 2013, excluding the pandemic. Higher tax refunds had been expected to lift consumer spending. Now, “the rise in gasoline […]
The S&P 500’s financial sector (XLF) has fallen 11% year to date, putting it on track for its worst first quarter since 2020, as investors pull back amid growing worries over cracks in private credit. A string of prestigious giants such as BlackRock (BLK), Morgan Stanley (MS), and Blackstone (BX) have been the latest financial […]
Debate in Washington over the cost of the war in Iran escalated on Thursday as a new possible price tag of $200 billion began to circulate among policymakers. The figure isn’t final but could represent the Trump administration’s eventual request to Congress — a “supplemental funding bill,” in Washington parlance — to cover additional costs […]
The Federal Reserve held interest rates steady for the second consecutive policy meeting this year, amid a surge in oil prices and increased economic uncertainty, as officials projected one rate cut for the year. The central bank voted in a split decision on Wednesday to hold its benchmark interest rate in the range of 3.5% […]
Gold recovered some ground after sliding nearly 4% on Wednesday, with dip-buyers helping the metal to withstand spiking oil prices and inflationary risks from the war in the Middle East. Bullion rose as much as 1%, reversing some losses sustained over six straight days of decline — the longest losing streak since late 2024. The […]
