Austan Goolsbee, president of the Federal Reserve Bank of Chicago, speaks during the 29th annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California, on May 6, 2026. Patrick T. Fallon | AFP | Getty ImagesEnergy inflation tied to the war in Iran has lasted longer than...
Category: Economy
Consumer sentiment hits fresh record low in May as Iran war fuels inflation worries
Consumer sentiment has tumbled to a fresh record low in May as fears of higher prices grow due to the U.S.-Iran war and elevated oil prices, the University of Michigan's Surveys of Consumers said Friday.The index of consumer sentiment fell to 44.8 from a preliminary reading of 48.2. It's also...
Putin-Xi talks revive stalled Russian gas pipeline as Iran war rattles energy markets
A Power of Siberia natural gas pipelines facility in Heihe, Heilongjiang province, China, on Tuesday, March 21, 2023. Bloomberg | Getty ImagesRussian President Vladimir Putin met with Chinese leader Xi Jinping in Beijing on Wednesday, with the long-stalled Power of Siberia 2 natural gas pipeline on the agenda, as the...
Wholesale inflation jumps 6% in April on annual basis, biggest increase since 2022
Wholesale prices in April posted their highest annual increase in more than three years, signaling more nettlesome inflation as pipeline costs intensify.The producer price index rose a seasonally adjusted 1.4% for the month, much higher than the 0.5% Dow Jones consensus forecast and the upwardly revised 0.7% March increase, the...
Inside the Fed: Powell vows he won’t be a ‘shadow chair,’ but a Warsh clash will be tough to avoid
Federal Reserve Chairman Jerome Powell, and Federal Reserve Nominee, Kevin Warsh.ReutersWhen the Federal Open Market Committee gathers again in mid-June, it will mark the first time in nearly 80 years that a sitting and former chair conduct business together, a historic overlap that comes at a sensitive time for the...