Economy
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‘We have to be able to walk and chew gum’ on government spending, says budget chairman on debt crisis and national security
The U.S. government has a lot to pay for at the moment: in addition to mandatory spending like Social Security, Medicare, and Medicaid, it has also needs to fund its military endeavors. First came Venezuela, a relatively brief period of intervention; but the U.S. and Israel’s conflict with Iran has dragged on longer than expected.
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Most of Wall Street points to high oil prices as the driver of inflation. A maverick Johns Hopkins economist says they’re chasing the wrong culprit
Following the Commerce Department’s release on the morning of April 10 showing that March consumer prices rose at 3.3% year over year in March, this writer received well over a dozen emails from Wall Street analysts, market strategists and economists making the same main point: It’s the jump in oil prices triggered by Iran’s closure
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The most valuable worker in the AI economy is Nurse Dana from ‘The Pitt’
If you want to understand where the American economy is going, don’t watch the stock ticker. Watch The Pitt. The Max medical drama that became one of the most-talked-about shows of early 2025 doesn’t center on a brilliant surgeon or a rogue attending. It centers on nurses and residents grinding through a single 15-hour shift
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U.S. naval blockade on Iran will trigger a currency devaluation spiral and hyperinflation, potentially ending the war more quickly, analyst says
The U.S. blockade on ships entering or departing from Iranian ports went into effect on Monday, as President Donald Trump seeks to pressure Iran by cutting off its oil revenue. The Iranian economy was already in shambles before the U.S. and Israel launched their war on the Islamic republic more than six weeks ago, and
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Investors are writing off any move from the Fed this month—collapsing talks in Iran have sealed the deal
With President Trump’s focus squarely on Iran at present, Jerome Powell and the U.S. Federal Reserve are getting some respite from the Oval Office’s attention. It’s a couple of weeks until the next Federal Open Market Committee (FOMC) meeting, but investors already appear to be convinced what the group’s next move will be. The base
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Iran’s crumbling economy is the regime’s greatest weakness with prices up 40% since the war began while authorities worry about making payroll
The Iranian economy was already in shambles before the U.S. and Israel launched their war on the Islamic republic, and the relentless bombing since then has pushed the regime to the brink, according to reports. Prior to the war, high inflation and a currency collapse triggered mass protests that prompted a brutal crackdown. But now
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‘Almost unmanageable’: Raising a child in the U.S. now costs more than $300,000
The experience of being a parent may be priceless. But the reality is there’s a price tag on raising a child, and it’s up in the hundreds of thousands. The average cost of raising a child over the course of 18 years in the U.S. has reached $303,418, according to a new study from LendingTree.
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‘I just keep seeing a lot of different aspects of life getting more expensive’: New car prices are up 30% over 6 years
After a few years of sharing a 2019 Chevrolet Trax, Dana Eble and Tyler Marcus are finally looking for a second car. But as they jump into the market, the young married couple isn’t sure what they can afford. “I just keep seeing a lot of different aspects of life getting more expensive, and it’s
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Turns out the American middle class didn’t die. It got richer—and felt poorer
There’s a peculiar kind of vertigo that comes with being an affluent American in 2026. You’ve made it. By nearly every historical metric, you are living in spectacular abundance. You have a six-figure income, a retirement account, a nice car. And yet something feels wrong — crowded, competitive, precarious. The airport lounge is too full.
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‘People are trying to be creative’: Tariff-battered American companies are so cash-starved they are using refund claims as collateral for loans
When the Supreme Court struck down President Donald Trump’s tariffs two months ago, many companies rejoiced at the prospect of returning to pre-tariff prices and the possibility of getting a refund back from the government. However, the ruling may have also created a $166 billion problem. U.S. importers—who have shouldered the brunt of the tariffs—are