The largest oil disruption in history is becoming an increasingly serious inflation threat to the U.S. economy, hitting low- and middle-income Americans especially hard as fuel and transportation costs surge following the Iran war.
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IEA Chief Warns Commercial Oil Inventories Are Depleting Rapidly, Only Weeks Left
Fatih Birol, head of the International Energy Agency, said on Monday that commercial oil inventories were depleting rapidly with only a few weeks worth left due to the Iran war and the closure of the Strait of Hormuz to shipping.
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Kevin Warsh to be sworn in as Federal Reserve chair on Friday
Former Defense Secretary Robert Gates warned that mounting instability in Cuba could trigger a mass migration crisis to the U.S. similar to the 1980 Mariel boatlift, amid escalating tension between the Trump administration and the island's communist regime.
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WH: China Agreed to Address US Concerns Over Rare Earth Shortages
China will address U.S. concerns about shortages of certain specialty rare earths caused by Beijing's export controls, the White House said on Sunday in a factsheet outlining the major deals agreed during a summit last week.
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The Fed will have to raise interest rates in July to appease 'bond vigilantes,' Yardeni says
Sent to the Federal Reserve to lower interest rates, incoming Chair Kevin Warsh instead may have to push for higher levels.
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