Finance
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It’s crunch time for Kevin Warsh: Here’s how he might begin selling the idea of rate cuts—it requires some complex economic gymnastics
At 10 a.m. tomorrow morning, Kevin Warsh’s public campaign to lead the Federal Reserve begins. So far, markets, policymakers, and economists have only been able to speculate as to Warsh’s outlook and approach. But this week, for the first time since President Trump confirmed his nomination, his ideas will be laid out in the open
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Current price of oil as of April 20, 2026
As of 8:45 a.m. Eastern Time today, oil sold for $96.26 per barrel (using Brent as the benchmark, which we’ll get into momentarily). That’s 72 cents lower than yesterday—but approximately a $29 rise over the past year. Oil price per barrel % Change Price of oil yesterday $96.98 +0.19% Price of oil 1 month ago
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Southeast Asia’s short-term solution to the global energy crunch? Russian crude.
The Middle East conflict, and Iran’s shuttering of the Strait of Hormuz, has thrown the world into its worst energy crisis in decades. Southeast Asia, which relies on the region for over half of its oil and LNG imports, has been particularly hard hit, with governments frantically looking for alternate sources of oil and gas.
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The director of the Congressional Budget Office—known for its gloomy national debt data—is very optimistic that a crisis will be avoided entirely
Dr Phillip Swagel is an optimist, both by nature and when he looks at the U.S. economy. This fact is perhaps at odds with what one might assume: Swagel is the director of the Congressional Budget Office (CBO), the nonpartisan agency that offers independent budgetary and economic analysis to Congress. Very often—an inevitable occupational hazard—the
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Markets shudder as Strait of Hormuz starts resembling a combat zone. ‘We’re prepared to subject you to disabling fire’
Stock futures tumbled and oil prices jumped on Sunday after hopes that the Strait of Hormuz would fully reopen were deflated over the weekend by renewed gunfire. Futures tied to the Dow Jones industrial average fell 407 points, or 0.82%. S&P 500 futures were down 0.67%, and Nasdaq futures lost 0.57%. U.S. oil futures jumped 7.14% to $89.94 a
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UAE in talks with U.S. for possible financial lifeline, WSJ says
The United Arab Emirates has begun talks with the US about a financial backstop in case the Iran war plunges the country into further crisis, the Wall Street Journal reported, citing US officials it didn’t identify. UAE Central Bank Governor Khaled Mohamed Balama raised the idea of a currency swap line with Federal Reserve and
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The explosion of U.S. debt is wiping out the ‘safety premium’ of Treasury bonds, and time is running out for an orderly fiscal solution, IMF warns
Soaring U.S. debt is causing Treasury bonds to lose their risk advantage over other securities, making it more expensive to borrow money, the International Monetary Fund warned. Treasuries have long enjoyed the status as the world’s top safe haven asset. But annual budget deficits are now at $2 trillion, rapidly piling on to the $39
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Gen Z is ‘Chinamaxxing’—and it’s less a love letter to Beijing than an indictment of America
The American century — a phrase coined by Fortune founder Henry Luce — had a soundtrack. It was Chuck Berry on the radio and Coca-Cola in the cooler, Levi’s jeans, and Marlboro billboards stretching across Europe. American culture didn’t conquer the world through military force—it did it through desirability. People wanted to be American. That aspiration was
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For wealthy buyers, Mar-a-Lago’s security perimeter is Palm Beach’s hottest amenity
Mar-a-Lago has become one of Florida’s buzziest mansions since President Donald Trump purchased the sprawling 62,500-square-foot estate and private club in 1985. Every time the president visits, the cameras follow. But what’s gotten less attention is the luxury real estate market quietly reshaping itself around him. As of early March, South Ocean Boulevard, the oceanfront
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The one metric Warren Buffett says can crash the stock market just hit a dizzying new high
In the December 10, 2001 issue of Fortune, Warren Buffett wrote a landmark 7-page article that introduced a crucial market metric that became renowned as the “Buffett Indicator.” The Great Man adapted the piece from a speech he’d given that July at the annual Allen & Co. bash in Sun Valley, privately delivered to the