Container Vessel Hit While Sailing Through Hormuz Shipping Corridor
The vessel, Ever Lovely, was struck on its starboard side by an unidentified projectile, damaging the ship's bridge but causing no reported casualties or environmental pollution.
Economy
TIPP Poll data on Americans' perception of the economy is the foundation for this section. Topics covered include U.S. consumer confidence, consumer sentiment, job market, economic growth, recession, financial stress, economic outlook, personal financial outlook, federal economic policies. We also cover trade, taxes, and debt. Our TIPP economic optimism index, financial stress index, job sensitivity metrics, and other polling on current economic issues drive the discussions.
What Drove America's Inflation To A Three-Year High
Core inflation, which excludes volatile food and energy prices, increased only slightly to 3.4% from 3.3%, suggesting underlying price pressures remained relatively contained
Tanker Traffic Through Hormuz Pushes Oil Prices Lower
Brent crude fell 1.3% to $72.75 per barrel, while U.S. West Texas Intermediate dropped 1.1% to $69.60, returning to levels seen before the war began in late February.
IRS Outperforms Expectations Despite Major Workforce Cuts
The agency relied heavily on technology and automated processing systems to maintain core tax filing and refund operations during one of its busiest periods of the year.
All 32 Of The Nation's Biggest Banks Clear The Fed's Annual 'Stress Test'
This year's assessment subjected banks to a hypothetical scenario involving a deep recession, sharp declines in asset prices, and rising unemployment.
How Is Trump’s Housing Bill Decision Affecting Republicans
Trump halted the signing ceremony just hours before it was set to take place, arguing that Congress should first pass the SAVE America Act
Trump Delays Signing Of Major Bipartisan Housing Bill
The proposed housing bill seeks to increase housing supply, encourage zoning and permitting reforms, expand manufactured housing, and restrict large institutional investors from purchasing additional single-family homes
How Will Treasury Monitor Released Iranian Assets
According to Treasury Secretary, the first tranche of funds will likely be released from accounts in Qatar, with Treasury officials in Doha monitoring how the money is allocated.
Treasury Secretary Says US GDP Could Top 3% Before Year-End
Bessent said the underlying economy remains strong and suggested growth could return to levels beginning with a “three” in 2026.
How Could The New Housing Bill Lower Home Prices
The bill would prohibit corporate investors from purchasing single-family homes, although a stricter proposal requiring investors to sell newly built homes within seven years was removed during negotiations.
Iran Oil Exports Set For Boost After Sweeping US Sanctions Relief
The exemption allows Iran to produce, sell and receive payments for crude oil, petroleum products and petrochemicals in U.S. dollars through August 21.
Alan Greenspan's Enduring Legacy
From low inflation and strong growth to the debates over regulation and financial risk, two economists examine the record of one of America's most influential policymakers.
What Could Starmer’s Exit Mean For The UK Economy
Investors are closely monitoring the transition, particularly Andy Burnham’s views on government spending and fiscal policy
Canada’s Inflation Rate Climbs to 29-Month High In May
According to data released by Statistics Canada, consumer prices rose faster than economists had anticipated, marking the first time inflation has exceeded three per cent since 2023.
Iranian Oil Trade Gets Temporary U.S. Approval Through August
Treasury Secretary Scott Bessent said the move is part of a broader diplomatic framework aimed at advancing a long-term agreement between the two countries.
America At 250: The Roots Of America’s Greatness
We enjoy freedoms most people could only dream about. We have the strongest military in the history of the world. We have the most dynamic economy. We put men on the moon.