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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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Warsh has big plans for the Fed, but results may take time

Warsh has big plans for the Fed, but results may take time

By Howard Schneider and Ann Saphir WASHINGTON, May 13 (Reuters) - Fifteen years after leaving the Federal Reserve in opposition to an expansive bond-buying program that has since saddled it with a $6.7 trillion portfolio, Kevin Warsh is expected to return as the U.S. central bank's leader this month
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Morning Bid: Ceasefire on life support

Morning Bid: Ceasefire on life support

By Mike Dolan May 12 (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets With the month-old Iran war ceasefire now on “life support”, according to U.S.
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Oil prices slip on teetering Iran ceasefire as Trump heads to China

Oil prices slip on teetering Iran ceasefire as Trump heads to China

By Katya Golubkova TOKYO, May 13 (Reuters) - Oil prices fell on Wednesday after rising in three consecutive sessions, as investors awaited developments around the fragile ceasefire in the Iran war and U.S. President Donald Trump headed to China for a high stakes summit with President Xi Jinping.
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Trading Day: Inflation up, chips down

Trading Day: Inflation up, chips down

By Jamie McGeever ORLANDO, Florida, May 12 (Reuters) - The S&P 500 and Nasdaq fell on Tuesday, dragged down by a sharp decline in semiconductors, while sentiment was also rattled by rebounding oil prices and stronger-than-expected U.S. inflation which both lifted bond yields.
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White House National Economic Council Director Kevin Hassett Discusses Economic Outlook Amid Global Tensions

White House National Economic Council Director Kevin Hassett Discusses Economic Outlook Amid Global Tensions

White House National Economic Council Director Kevin Hassett Discusses Economic Outlook Amid Global Tensions
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The Iran war is hitting home as gasoline prices fuel inflation surge of 3.8% in the US

The Iran war is hitting home as gasoline prices fuel inflation surge of 3.8% in the US

U.S. consumer prices climbed a sharply again last month as the 10-week war with Iran pushed energy prices higher
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Senate Confirms Kevin Warsh as Fed Governor, Paving Way for Chairmanship

Senate Confirms Kevin Warsh as Fed Governor, Paving Way for Chairmanship

Senate Confirms Kevin Warsh as Fed Governor, Paving Way for Chairmanship
Reuters Reuters
Fed's Goolsbee says latest inflation read was disappointing

Fed's Goolsbee says latest inflation read was disappointing

By Ann Saphir May 12 (Reuters) - Chicago Federal Reserve President Austan Goolsbee said on Tuesday that the government's report showing accelerating consumer inflation last month was unexpectedly disappointing.
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April CPI Surge Highlights Inflation Challenges Amid Iran Conflict

April CPI Surge Highlights Inflation Challenges Amid Iran Conflict

The Consumer Price Index (CPI) in the U.S. rose to an annual rate of 3.8% in April, the highest since May 2023, driven by increased energy costs due to the Iran conflict. The CPI, which measures changes in the price of goods and services, saw a 0.6% rise from the previous month. Energy prices were a significant factor, contributing to 40% of the total CPI increase. Gasoline prices jumped 28.4% from a year earlier, impacting transportation costs for consumers and businesses. Core inflation, excluding food and energy, rose by 2.8%, indicating broader price pressures.
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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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Fox News Criticizes Economy as Trump's Approval Drops Amid Inflation Concerns

Fox News Criticizes Economy as Trump's Approval Drops Amid Inflation Concerns

Fox News has labeled the U.S. economy as 'possibly a disaster' as President Trump's approval rating on economic management falls to 30%. This decline is attributed to rising inflation and the cost of living, with gas prices exceeding $4 per gallon due to the conflict in Iran. The Consumer Price Index (CPI) indicates a 3.3% inflation rate in March, exacerbating public dissatisfaction. Despite the administration's claims of an 'economic boom,' a significant portion of Americans, particularly in suburban and working-class districts, are feeling the financial strain. This sentiment is reflected in the latest AP-NORC poll, which shows a growing number of Americans rating the economy as 'poor.'