U.S. business activity slowed to an 11-month low in March as the war in the Middle East raised prices for energy products and other inputs, a survey showed Tuesday, reinforcing fears of an acceleration in inflation in the months ahead.
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White House to pay TotalEnergies $1 billion to kill off East Coast wind farm projects
The announcement comes as the Iran war disrupts global oil and gas supplies, making the U.S.' development of its LNG resources more urgent.
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Trump WH Aims to Boost Diesel Supply Amid Price Surge
The Trump administration is working to get more diesel into the market as fuel prices surge amid global turmoil tied to the Iran war, Energy Secretary Chris Wright said Monday.
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Fed's Goolsbee More Worried About Inflation Than Jobs
Chicago Federal Reserve President Austan Goolsbee said Monday he is increasingly focused on inflation risks over labor market weakness, even as geopolitical tensions show tentative signs of easing.
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High Gas Prices Are the Least of Our Problems
Most economists believe a significant increase in oil prices instigated by the war with Iran shouldn't cause a recession.
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Fed's Miran Still Believes Fed Should Cut Interest Rates
Federal Reserve Governor Stephen Miran said Monday it's premature to draw conclusions about how surging oil prices will affect the U.S. economy, as he stuck to his guns and argued a softening jobs market requires more rate cuts from the central bank.
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