Trump Demands Interest Rates of 1% or Lower Hours After Fed Raises Them
Donald Trump wants US interest rates cut to 1% or lower, hours after the Federal Reserve unanimously raised its benchmark range to 3.75%-4.00%.
Inflation
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U.S.-Iran War Has Cost $38bn and Could Add $3bn Every Month, CBO Says
The Congressional Budget Office says the U.S. war against Iran has cost about $38 billion through August 1 and could add up to $3 billion for every additional month.
Europe Faces Fresh Inflation Shock as Gas Prices Hit Four-Year High
European gas prices have reached a four-year high as the ECB warns that gas and electricity could drive the next inflation shock.