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Senate confirms Warsh to Fed Board, with Fed chair vote likely Wednesday

Senate confirms Warsh to Fed Board, with Fed chair vote likely Wednesday

By Richard Cowan and Ann Saphir May 12 (Reuters) - The U.S. Senate on Tuesday confirmed Kevin Warsh to a 14-year term as Federal Reserve governor, marking an important step toward his succeeding Jerome Powell as the U.S. central bank's next leader.
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US consumer prices increase further in April

US consumer prices increase further in April

By Lucia Mutikani WASHINGTON, May 12 (Reuters) - U.S. consumer prices rose at a brisk clip for a second straight month in April, resulting in the largest annual increase in inflation in nearly three years and further bolstering expectations the Federal Reserve would keep interest rates unchanged for
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US issues alert to banks on IRGC efforts to evade sanctions

US issues alert to banks on IRGC efforts to evade sanctions

WASHINGTON, May 11 (Reuters) - The United States on Monday issued an alert to financial institutions warning of efforts by the Islamic Revolutionary Guard Corps' to evade U.S. sanctions, as concerns mount of a resumption of hostilities in the conflict with Iran. The U.S.
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US consumer inflation expected to have increased further in April amid Iran war

US consumer inflation expected to have increased further in April amid Iran war

By Lucia Mutikani WASHINGTON, May 12 (Reuters) - U.S. consumer prices likely rose at a solid pace for a second straight month in April, which would result in the largest annual increase in inflation in more than 2-1/2 years and further bolster expectations the Federal Reserve would keep interest
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US existing home sales increase less than expected in April

US existing home sales increase less than expected in April

WASHINGTON, May 11 (Reuters) - U.S. existing home sales increased less than expected in April, and could struggle to gain altitude as mortgage rates remain elevated and rising inflation squeezes household budgets.
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US Supreme Court clears way for Alabama Republicans to pursue new voting map

US Supreme Court clears way for Alabama Republicans to pursue new voting map

By John Kruzel WASHINGTON, May 11 (Reuters) - The U.S. Supreme Court cleared the way on Monday for Alabama Republicans to pursue a congressional voting map more favorable to their party ahead of November's midterm elections, the latest fallout from the court's seismic voting rights ruling.
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US senators urge Trump to 'stand strong' on shipbuilding in talks with Xi

US senators urge Trump to 'stand strong' on shipbuilding in talks with Xi

By Andrea Shalal WASHINGTON, May 11 (Reuters) - A bipartisan group of U.S. senators on Monday urged President Donald Trump to hold fast to trade remedies proposed by his administration to rebuild U.S. shipbuilding and not offer concessions when he meets with Chinese President Xi Jinping.
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Trump says federal gasoline tax to be reduced 'till it's appropriate'

Trump says federal gasoline tax to be reduced 'till it's appropriate'

WASHINGTON, May 11 (Reuters) - President Donald Trump said on Monday he will reduce the 18-cent federal gas tax for a yet to be determined period as U.S. fuel prices shoot higher due to the Iran war.
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Morning Bid: 11 weeks and counting

Morning Bid: 11 weeks and counting

By Mike Dolan May 11 (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets The Iran conflict is entering its 11th week - more than twice the length of time indicated by President Donald Trump when he first ordered strikes on Iran - and there’s
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Hegseth is facing a new round of questioning from Congress on the Iran war and more

Hegseth is facing a new round of questioning from Congress on the Iran war and more

Defense Secretary Pete Hegseth will face a new round of questioning from lawmakers over the Iran war
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Oil jumps as US and Iran disagree on peace proposal

Oil jumps as US and Iran disagree on peace proposal

By Florence Tan SINGAPORE, May 11 (Reuters) - Oil prices jumped $3 a barrel on Monday as the United States and Iran failed to agree to a peace proposal drafted by Washington while the Strait of Hormuz remained largely closed, keeping global energy supplies tight.
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US top diplomat discusses Iran, Strait of Hormuz with UK and Australia

US top diplomat discusses Iran, Strait of Hormuz with UK and Australia

By Kanishka Singh WASHINGTON, May 11 (Reuters) - U.S. Secretary of State Marco Rubio held separate calls with his Australian and British counterparts on Monday to discuss Iran and the Strait of Hormuz, the State Department said.