News chronological

NYTIMES (Patricia Cohen) - A Global Economy Jolted by an Oil Shock Now Gets a Tariff Reminder Sat Jul 25 04:12:36 2026

Tariffs are back, but this time there is a war in the Persian Gulf and oil has hit $100 a barrel.

AXIOS (Courtenay Brown) - Americans are spending faster than their income is growing Thu May 28 16:07:06 2026

Data: Bureau of Economic Analysis ; Chart: Axios Visuals Americans are burning through their financial cushion at an accelerating pace, spending faster than their income is growing, as the energy shock from the Iran war slams household budgets. Why it matters: Consumer spending has indeed held up, defying rock-bottom sentiment readings. But there's new evidence that suggests households are increasingly drawing down savings to support their spending, a fragile dynamic for the broader economy. What they're saying: "While prices are rising faster than comfortable, incomes are not, putting consumers in an uncomfortable spot," NerdWallet senior economist Elizabeth Renter wrote. - "Rising prices, sluggish income and economic uncertainty could…

Data: Bureau of Economic Analysis ; Chart: Axios Visuals Americans are burning through their financial cushion at an accelerating pace, spending faster than their income is growing, as the energy shock from the Iran war slams household budgets. Why it matters: Consumer spending has indeed held up, defying rock-bottom sentiment readings. But there's new evidence that suggests households are increasingly drawing down savings to support their spending, a fragile dynamic for the broader economy. What they're saying: "While prices are rising faster than comfortable, incomes are not, putting consumers in an uncomfortable spot," NerdWallet senior economist Elizabeth Renter wrote. - "Rising prices, sluggish income and economic uncertainty could…Open

AXIOS (Neil Irwin) - Trump to Fed chair Warsh: "Don't look at me, don't look at anybody" Fri May 22 16:50:46 2026

The Warsh era begins with soaring inflation, a Middle East energy shock bleeding into other parts of the economy and colleagues skeptical that rate cuts should come anytime soon. - Add on top: Kevin Warsh faces more political pressure to deliver lower rates than any other Federal Reserve chair in recent memory. Why it matters: The 17th Fed chair, sworn in Friday at the White House, inherits a set of economic conditions that make it difficult to justify cutting rates. - Despite President Trump's unprecedented pressure on Warsh's predecessor, Jerome Powell, to cut rates, the president struck a different tone on Friday. - "Honestly, I really mean this: I want Kevin to be totally independent and just do a great job. Don't look at me, don't…

The Warsh era begins with soaring inflation, a Middle East energy shock bleeding into other parts of the economy and colleagues skeptical that rate cuts should come anytime soon. - Add on top: Kevin Warsh faces more political pressure to deliver lower rates than any other Federal Reserve chair in recent memory. Why it matters: The 17th Fed chair, sworn in Friday at the White House, inherits a set of economic conditions that make it difficult to justify cutting rates. - Despite President Trump's unprecedented pressure on Warsh's predecessor, Jerome Powell, to cut rates, the president struck a different tone on Friday. - "Honestly, I really mean this: I want Kevin to be totally independent and just do a great job. Don't look at me, don't…Open

AXIOS (Courtenay Brown) - Powell: Fed yet to decide on whether to "look through" war's impact Mon Mar 30 16:46:36 2026

Federal Reserve chair Jerome Powell said the Fed is not yet at the moment when it needs to decide whether to "look through" the Iran war energy shock. What they're saying: "It's something we will eventually, maybe, face the question of what to do here. We're not really facing it yet because we don't know what the economic effects will be," Powell told introductory economics students at Harvard University on Monday morning. - "We feel like our policy is in a good place for us to wait and see how that turns out." Powell said that the Fed has to consider the economic backdrop against which the shock is occurring. "The broader context is ... we've been coming down close to 2% [inflation], post-pandemic, but we've never actually gotten and…

Federal Reserve chair Jerome Powell said the Fed is not yet at the moment when it needs to decide whether to "look through" the Iran war energy shock. What they're saying: "It's something we will eventually, maybe, face the question of what to do here. We're not really facing it yet because we don't know what the economic effects will be," Powell told introductory economics students at Harvard University on Monday morning. - "We feel like our policy is in a good place for us to wait and see how that turns out." Powell said that the Fed has to consider the economic backdrop against which the shock is occurring. "The broader context is ... we've been coming down close to 2% [inflation], post-pandemic, but we've never actually gotten and…Open

AXIOS (Neil Irwin) - America's less energy-intensive economy braces against Iran war shock Mon Mar 30 16:46:36 2026

Data: Axios analysis of Energy Information Administration and Bureau of Labor Statistics data; Note: March 2026 measure assumes most recent weekly gasoline price reading ($3.96) and average hourly earnings rising per recent trend ($37.44).; Chart: Neil Irwin/Axios The U.S. has a key advantage in weathering the Iran war-triggered energy shock that was missing in previous episodes of overseas tumult: an economy that has become substantially less energy-intensive. Why it matters: Higher prices at the gasoline pump, for jet fuel and for diesel will no doubt hurt. But in relative terms, both the average household and the economy as a whole have more capacity to weather the hit than in the past. The big picture: Over recent decades, the share…

Data: Axios analysis of Energy Information Administration and Bureau of Labor Statistics data; Note: March 2026 measure assumes most recent weekly gasoline price reading ($3.96) and average hourly earnings rising per recent trend ($37.44).; Chart: Neil Irwin/Axios The U.S. has a key advantage in weathering the Iran war-triggered energy shock that was missing in previous episodes of overseas tumult: an economy that has become substantially less energy-intensive. Why it matters: Higher prices at the gasoline pump, for jet fuel and for diesel will no doubt hurt. But in relative terms, both the average household and the economy as a whole have more capacity to weather the hit than in the past. The big picture: Over recent decades, the share…Open

NYTIMES (Eshe Nelson) - Europe Heads for Another Energy Shock in a Vulnerable State Thu Mar 26 15:24:37 2026

The region’s stores of natural gas are running at the lowest level in years, and filling them up is increasingly daunting as the U.S.-led war in Iran pushes up prices.