Yemen's Iranian-backed Houthi rebels have captured a strategic island at the mouth of the Red Sea, a move that hands Tehran-linked forces potential leverage over one of the world's most critical energy chokepoints, and puts Washington in a bind. Houthi fighters took control of Mayun island, which sits inside the Bab el-Mandeb Strait at the […] The post Iran-backed Houthis seize strategic Red Sea island, threatening global oil shipments appeared first on American Almanac .
Yemen's Iranian-backed Houthi rebels have captured a strategic island at the mouth of the Red Sea, a move that hands Tehran-linked forces potential leverage over one of the world's most critical energy chokepoints, and puts Washington in a bind. Houthi fighters took control of Mayun island, which sits inside the Bab el-Mandeb Strait at the southern entrance to the Red Sea. A senior military official with Yemen's internationally recognized government confirmed the seizure, as did a Houthi official. The capture came alongside Houthi gains on the mainland, including the port city of Mokha, where rebels also seized a compound that had housed United Nations staff. The strait is no minor waterway. Roughly 12 percent of the world's goods…Open
Roughly five million Americans have lost access to federal food assistance since the Republican-backed budget bill became law, and a looming October 1 cost shift threatens to push states into even deeper cuts just as Congress returns from recess. The scale of the drop caught even Washington's budget forecasters off guard. The Center on Budget […] The post Five million Americans lost SNAP benefits after H.R. 1 — and states face a new cost cliff in weeks appeared first on American Almanac .
Roughly five million Americans have lost access to federal food assistance since the Republican-backed budget bill became law, and a looming October 1 cost shift threatens to push states into even deeper cuts just as Congress returns from recess. The scale of the drop caught even Washington's budget forecasters off guard. The Center on Budget and Policy Priorities reports that SNAP participation has fallen far faster and far deeper than the Congressional Budget Office projected when H.R. 1, the sprawling legislation known as the "One Big Beautiful Bill", was enacted. More than 1.5 million of those who lost access are children, ABC News reported . Starting October 1, states must cover 75 percent of SNAP administrative costs, expenses the…Open
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Irish broadcaster Ryan Tubridy reacts to Donald Trump's comments calling for a united Ireland on Saturday. "I'd love to see it unified," he said while meeting with the Taoiseach (Irish Prime Minister) Micheál Martin.
Consumer prices climbed again in August, with inflation running well above the Federal Reserve's target for more than five years, and now traders see a 90 percent chance the central bank raises interest rates at its meeting next week. The Consumer Price Index rose 0.4 percent from July and 3.4 percent on an annual basis, […] The post August inflation data strengthens the case for another Fed rate hike appeared first on American Almanac .
Consumer prices climbed again in August, with inflation running well above the Federal Reserve's target for more than five years, and now traders see a 90 percent chance the central bank raises interest rates at its meeting next week. The Consumer Price Index rose 0.4 percent from July and 3.4 percent on an annual basis, the August report showed . Core inflation, which strips out volatile food and energy costs, came in at 0.3 percent for the month and 2.4 percent year-over-year. A narrower measure the Fed watches closely, services prices excluding energy and housing, sometimes called "supercore" inflation, accelerated to 0.5 percent in August, running at a 3 percent annual clip. Energy costs drove much of the headline number. Gasoline…Open
Consumer prices rose at a 3.4 percent annual pace in August, well above the Federal Reserve's 2 percent target, and with real wages falling for a fifth straight month, American workers are losing ground. The August Consumer Price Index data, released Friday, showed prices climbed 0.4 percent from July alone. Core inflation, which strips out […] The post August inflation report strengthens the case for a Fed rate hike next week appeared first on American Almanac .
Consumer prices rose at a 3.4 percent annual pace in August, well above the Federal Reserve's 2 percent target, and with real wages falling for a fifth straight month, American workers are losing ground. The August Consumer Price Index data, released Friday , showed prices climbed 0.4 percent from July alone. Core inflation, which strips out volatile food and energy costs, rose 0.3 percent on the month and 2.4 percent year over year. The so-called "supercore" measure, services minus energy and housing, a gauge the Fed watches closely, accelerated to 0.5 percent in August, running at a 3 percent annual clip. The numbers land days before the Fed's policy-setting committee meets Tuesday and Wednesday. Federal-funds futures markets now price…Open
The national debt has blown past $40 trillion for the first time, and the interest alone now costs taxpayers more than $1 trillion a year, a bill that budget experts warn will crowd out defense, drive up borrowing costs, and drag down wages for a generation. The milestone arrived in August, just five months after […] The post America's $40 trillion debt tab lands on every taxpayer's doorstep appeared first on American Almanac .
The national debt has blown past $40 trillion for the first time, and the interest alone now costs taxpayers more than $1 trillion a year, a bill that budget experts warn will crowd out defense, drive up borrowing costs, and drag down wages for a generation. The milestone arrived in August, just five months after the debt crossed $39 trillion in March. Five months before that, it had hit $38 trillion. Each trillion-dollar jump is coming faster than the last, a pace that AP News reported has left the United States ranked dead last in fiscal health among developed countries, according to OECD data. That $40.047 trillion figure is not an abstraction. It works out to roughly $120,000 for every American taxpayer and nearly $300,000 per…Open
