President Donald Trump's tariffs will likely increase inflation and could also drive up unemployment, Federal Reserve Governor Michael Barr said on Thursday in remarks that signaled that he - like most of his Fed colleagues - wants to wait for more clarity before making any interest-rate cuts. "Low-income households can ill afford increases in prices, and that's why it is so important that we bring inflation back down to our target," Barr said at a community development event at the Cleveland Fed. The Fed targets 2% inflation, and while the latest read by the Fed's targeted measure was...
Prime Minister Benjamin Netanyahu said on Thursday the outcome of Israel's war with Iran presented opportunities for peace that his country should not waste. In a statement, Netanyahu said: "This victory presents an opportunity for a dramatic widening of peace agreements. We are working on this with enthusiasm. "Alongside the freeing of hostages and defeat of Hamas, there is a window of opportunity that must not be missed. We cannot waste even a single day." Earlier in the day, Israel Hayom newspaper, quoting an unnamed source, said Netanyahu and U.S. President Donald Trump agreed in a...
A White House official said late Thursday that the United States has reached an understanding with China on how to speed up rare earth shipments to the U.S., according to the Wall Street Journal. "The administration and China agreed to an additional understanding for a framework to implement the Geneva agreement," a White House official said. The understanding was "about how we can implement the acceleration of rare earth shipments to the U.S. again," Bloomberg quoted U.S. Commerce Secretary Howard Lutnick as saying, "They're going to ship us rare earths" and "we're going to lift our...