Category: Markets & Economy

Seventy-seven days into the U.S. war with Iran, the Pentagon has burned through $29 billion in taxpayer money. Nearly half of that, roughly $12 billion, represents military equipment destroyed or damaged by Iranian missile and drone strikes across the region. The figures surfaced during an April 30, 2026, budget hearing before the House Appropriations Defense…

Darnell Hughes used to fill his gas tank twice a week so he could make it to both his warehouse shifts in Memphis. Now he fills up once and skips the weekend job. “It is not that I paid anything off,” he said. “I just stopped driving.” Hughes’s tradeoff sits at the center of a…

Wall Street’s autumn rally hit a wall on November 13, 2024. Minutes after the Bureau of Labor Statistics published a hotter-than-expected consumer-price report for October, the S&P 500 slid 0.4% and the Nasdaq Composite dropped 1%, snapping a six-week winning streak that had carried the benchmark index more than 8% off its August lows. By…

The price of a raw steak in the United States has never been higher. According to the Bureau of Labor Statistics, the national average for uncooked beef steaks hit $12.74 per pound in February 2026, then kept climbing to $13.02 in April, blowing past the previous record. The April 2026 Consumer Price Index, released this…

The Pentagon told Congress today the Iran war has cost $29 billion – up $4 billion in two weeks – and Harvard estimates the final bill will top $1 trillion Defense Secretary Pete Hegseth told the House Appropriations Defense Subcommittee on May 12, 2026, that the U.S. war in Iran has now cost $29 billion….

Two cents off a gallon of gas is not the relief it sounds like. The national average price slipped to $4.50 this week, down from $4.52, according to the Energy Information Administration’s weekly retail survey. But the federal government’s latest inflation report paints a far harsher picture: gasoline prices have climbed 28.4% over the past…

Kevin Warsh is now a sitting Federal Reserve governor, and he is one vote away from running the place. The Senate confirmed him to the Fed’s Board of Governors on Monday morning, 51 to 45, along strict party lines, then immediately moved to set up the bigger question: whether to hand him the chair of…

Energy costs did more to push consumer prices higher in April 2026 than every other category combined, according to the Bureau of Labor Statistics’ Consumer Price Index report released in May 2026. Gasoline prices surged 28.4% year over year. The broader energy index climbed 17.9%. And on a single-month basis, energy alone accounted for more…