News
Iran's rial currency hits record low as shaky ceasefire with U. S. , Israel holds
3+ hour, 20+ min ago (403+ words) TEHRAN, Iran " Iran's national rial currency hit a record low Wednesday of 1. 8 million to the dollar as a shaky ceasefire with the U. S. and Israel holds. The rial had remained stable in the early weeks of the war that began Feb....
Tariff refunds now possible, but the money is unlikely to trickle down
1+ week, 20+ hour ago (409+ words) LOS ANGELES "A new federal system allowing businesses to claim refunds on billions of dollars in tariffs is now open, but many small retailers say they are unlikely to see meaningful relief. The refund portal, launched by U. S. Customs and Border…...
Wall Street hits a record as S&P 500 continues its 2-week rally
1+ week, 6+ day ago (792+ words) NEW YORK" " The U. S. stock market hit a record Wednesday after adding to its"two-week rally"built on hopes the"war with Iran"won't create a worst-case scenario for the global economy. Whether Wall Street is correct to have so much…...
Fed projects one rate cut this year, sees limited economic impact from Iran war
1+ mon, 1+ week ago (545+ words) WASHINGTON "Federal Reserve officials expect the Iran war will worseninflationthis year while having little impact on economic growth, but they still expect to cut their key rate once in 2026. For now, Fed policymakers left short-term interest rates unchanged Wednesday for…...
Bessent calls for interest rates cut as hearing for Warsh set for next week
2+ week, 18+ hour ago (648+ words) Treasury Secretary Scott Bessent said during an interview Monday that the Federal Reserve should "wait and see" before adjusting interest rates " and then appeared to clarify those remarks Tuesday by calling on central bankers to cut rates after monitoring economic…...
U. S. wholesale prices surged 4% last month after Iran war sent energy prices up
2+ week, 1+ day ago (485+ words) WASHINGTON " U. S. wholesale prices surged last month as the Iran war drove up the cost of energy. The Labor Department reported Tuesday that its producer price index " which measures inflation before it hits consumers " rose 0. 5% from February and 4% from March 2025. The…...
Gap between rich and poor nations is growing even wider, U. N. report says
2+ week, 3+ day ago (368+ words) UNITED NATIONS " The gap between rich and poor nations is growing even wider as actions agreed to by many countries last year, including overhauling the major global financial institutions, remain unfulfilled promises, a U. N. report concludes. The report assessing the blueprint…...
Consumer sentiment plummets to record low in April, survey says
2+ week, 4+ day ago (317+ words) American attitudes about the economy are plunging in April amid continued uncertainty over the Iran war. Sentiment has fallen 11% to a record low so far this month and is down 9% compared with a year ago, according to the University of…...
Key inflation gauge remains elevated in February before Iran war
2+ week, 6+ day ago (203+ words) WASHINGTON " A key measure of inflation stayed high in February, before the war in Iran spiked gas prices, a sign that everyday costs were elevated even before the conflict began. An inflation gauge monitored by the Federal Reserve rose 0. 4% in…...
Housing market favors home shoppers, but war clouds outlook for mortgage rates
3+ week, 17+ hour ago (1322+ words) LOS ANGELES " The economic fallout from the war with Iran is driving up the cost of buying a home, even as other housing market trends in many parts of the country favor home shoppers this spring. Mortgage rates have been…...