The Federal Reserve’s rate-setting committee voted 9 to 3 on July 29 to leave its benchmark short-term borrowing rate unchanged…
Browsing: US Economy
With the Iran nuclear deal heading to a Geneva signing on June 19, President Trump has pivoted back to trade battles, threatening tariffs on French wine at the G7 and signalling broader import duties on pharmaceuticals and semiconductors.
US wholesale prices surged 6.5 percent in May, the fastest pace since November 2022, driven by a 23.4 percent jump in gasoline costs linked to the Iran war.
Energy analysts warned Thursday that oil could reach $150 a barrel within weeks if the US-Iran war continues, as Brent crude has already hit $94 following Iran’s Strait of Hormuz restrictions.