Oil Prices Steady As Hormuz Traffic Gradually Recovers
According to Commonwealth Bank of Australia, shipping through the Strait of Hormuz has recovered to about 30% to 35% of pre-conflict levels.
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.
Mamdani Announces City-Run Grocery Stores Will Offer 30% Discount. Critics Say It Will Crush Local Businesses.
Mamdani’s office noted that the basket of goods “will include all fresh produce, meat and seafood, along with roughly 20 additional categories of pantry staples, dairy and refrigerated goods.”
US Issues New Iran-Related Sanctions Targeting Insurers, More Tankers
Six of the entities targeted for sanctions were based in China, it said.
Labor Department Reports Modest Rise In Unemployment Claims
The previous week's figure was revised upward to 188,000, while the four-week moving average, which smooths short-term fluctuations, declined to 202,750.
What Caused The US Economy To Miss Growth Expectations
Gross domestic product grew at an annualized rate of 1.5% between April and June, below both the previous quarter's 2.1% pace and economists' forecasts
Markets Question Warsh After Fed Holds Interest Rates Steady
Federal Open Market Committee voted 9-3 to keep rates steady
China Rejects Western Claims Of Industrial Overcapacity
The report said China's Commerce Ministry maintained that the country has never pursued a large trade surplus as a policy objective and dismissed claims of a so-called "China shock 2.0" as unsupported by evidence.
The Fed’s Policy Of Price Stability Helps Create An Unstable Economy
The Fed’s economists have established that policymakers should target inflation at two percent
Why The US Treasury Removed 84 Names From Its Sanctions List
The latest action follows an earlier round of 76 removals announced after Treasury Secretary Scott Bessent launched a comprehensive review of sanctions policies in May.
How Norway Built The World’s Largest Fund And A Thriving Economy To Boot
Economists know this as the “resource curse,” a specific version of which is the Dutch disease where the resource-rich country’s fiat currency gets bid up and undermines most other sectors’ competitiveness.
Another Domino Falls In The EU’s War On National Sovereignty
Those policies have led to economic stagnation, high unemployment, soaring migrant crime, and the gradual erosion of citizens’ basic political and religious rights.
Treasury Market Rallies On Easing Iran Conflict
The benchmark 10-year Treasury yield fell more than three basis points, while the two-year and 30-year yields also declined
The GOP's Swag Deficit
Why Republicans are losing their political edge and how a bold pro-growth budget could get it back.
Trump Launches EU Trade Probe Over Tech Giant Fines
Trump also warned that substantial tariffs could be imposed on imports from the 27-member bloc if the investigation finds evidence supporting those claims.
Iran War Drains America's Strategic Oil Reserve
The reserve declined from 415.4 million barrels in March to 311.4 million barrels by mid-July, a drop of nearly 25% in 17 weeks