Iran Strait of Hormuz shutdown slashes global oil flows

 

Global oil markets tightened sharply on Friday, May 22, 2026, as crude shipments through the Strait of Hormuz fell to 95 percent below normal levels amid an ongoing military conflict and stalled peace talks between the United States and Iran. The disruption to one of the world’s most critical maritime...

Warsh sworn in as Fed chair amid mounting economic pressures

 

Washington: Kevin Warsh was sworn in as Federal Reserve chair on May 22 at a White House ceremony, taking office after a year-long public audition and prior criticism of his predecessor. Supreme Court Justice Clarence Thomas administered the oath, and Warsh pledged to lead a 'reform-oriented' Fed while emphasizing independence...

United States Fed minutes revive possible rate hikes

 

Washington, United States – Minutes from the US Federal Reserve’s April Federal Open Market Committee (FOMC) meeting show policymakers have put the option of further interest rate increases back under active consideration, reflecting concern that inflation is not easing sufficiently. The committee voted to hold the benchmark federal funds rate...

United States mortgage rates climb to 6.56 percent

 

United States – U.S. mortgage rates have climbed again, adding pressure to households already struggling with housing costs. The average rate for a 30-year fixed mortgage has risen to 6.56%, the highest level in nearly two months, according to new data from the Mortgage Bankers Association. The increase, linked to...

US Extends 30-Day Waiver for Russian Oil at Sea

 

Washington — On Monday, the U.S. Treasury Department issued a temporary 30-day general license allowing energy-vulnerable nations to access Russian crude oil already loaded on tankers and stranded at sea. Treasury Secretary Scott Bessent said the extension, announced this week, intends to stabilize physical crude markets and reroute supply to...

United States warns Iran as oil prices surge

 

The United States saw sharp turbulence in energy and financial markets after President Donald Trump issued a stark warning to Iran on Truth Social, stating that “the clock is ticking” and urging Tehran to act quickly. The message, reported after a security call with Israeli Prime Minister Benjamin Netanyahu, raised...

United States bond rout drives Bitcoin slide

 

United States: Global risk assets declined after a sharp sell-off in sovereign bond markets forced investors to rapidly reassess the interest rate outlook and unwind leveraged positions. The US 10-year Treasury yield climbed to 4.58%, its highest level in more than a year, while the UK 10-year gilt yield jumped...

States Challenge Utility Rate Hikes Amid AI Boom

 

HARRISBURG, Pa. Officials and lawmakers in at least six states — Arizona, Indiana, Maryland, New Jersey, New York and Pennsylvania — are contesting utility rate increase requests as electricity bills rise amid growing demand tied to developments in artificial intelligence this year. Attorneys general, governors and state regulators have initiated...

United States bond rout drives Wall Street sell-off

 

New York — United States financial markets reversed sharply on Friday, May 15, 2026, as a global bond sell-off and surging crude oil prices pushed long-term borrowing costs to their highest levels in years and knocked major equity indexes off record highs. The 30-year U.S. Treasury yield jumped 11 basis...

Powell exits Fed after turbulent inflation and politics

 

WASHINGTON. Jerome Powell is stepping down as chair of the Federal Reserve this week after eight years leading the central bank, during which post-pandemic inflation rose well above the Fed’s 2% target and policymakers lifted the key short-term rate to a two-decade high in 2023. Economists also note unemployment reached...